Pinal Land Holdings LLC Closes Largest Acreage Deal Since The Recent Recession On More Than 11,400 Acres In Pinal County

MESA, Ariz., Dec. 31, 2013 /PRNewswire/ -- Pinal Land Holdings LLC (PLH) announced today that it has closed on more than 11,400 acres of land in Pinal County. The land, previously owned by the City of Mesa will be purchased in three phases. This is one of the largest land deals in the history of the City and represents a great economic outcome for the surrounding communities and a positive shift in the real estate industry.

The property is comprised of 86 parcels that lie from Curry Road to the west, Clemans Road to the east, Bartlett Road to the north and Houser Road to the south. Primarily used for agriculture, the property currently sits within the city limits of Coolidge and Pinal County.

"After a comprehensive purchase process, we are very excited to be the investors that will bring this economic boom to the Southeast Valley and Arizona," said Jackob Andersen, PLH President. "We chose this site for many reasons including the existing infrastructure, the current and planned transportation access and the existing sense of community born through its agricultural heritage. This really and truly is the Center of Arizona."

Michael Zipprich, PLH Vice President agreed, "The acquisition will vastly grow the Metro Phoenix area and will become the catalyst in bringing Phoenix and Tucson closer together and better connected. As a group, we have worked diligently with the State, the State Land Department, Pinal County, Arizona Department of Transportation, the cities of Mesa and Coolidge and Nathan and Associates Inc. to ensure the viability of our long term vision."

Nate Nathan, broker at Nathan and Associates Inc., has represented the City of Mesa since 2005. His team, including Courtney Buck, David Mullard and Daniel Baldwin, was instrumental in finding the right buyer for this property. "It was a good move on Mesa's part to buy the land originally and based on the Mayor and City Council's strategic planning, they knew when to sell," said Nathan. "With a rich history in strategic investments, development and an agricultural affiliate, the principals of PLH LLC were absolutely the right fit."

"With this investment, PLH will help secure a better quality of life for our community, spur industrial growth and ultimately create jobs for the region," said Rick Miller, Growth Management Director for the City of Coolidge. "I have been working with the principals of PLH for several years on properties in Casa Grande, and I see them as a great partner with integrity in everything they do."

"This piece of real estate converges the Southeast Valley with Metro Phoenix making it an economic engine for growth," said Steve Miller, District Three Supervisor and Chairman of the Pinal County Board of Supervisors. "The group is known to us and with their experience and sense of partnership, we are excited for what this will do for the community, the planned North South Freeway and Arizona's economy. This is an opportunity for the Pinal County communities to work together and shape our future to be the best place to live, work and play in Arizona."

ABOUT PINAL LAND HOLDINGS LLC

Headquartered in Scottsdale Arizona, Pinal Land Holdings is a real estate investment company formed solely for the purpose of this land holding. The partners have a rich history of investment, development and business throughout the world with a local focus on Arizona and the Southwest USA. Affiliated companies include and are involved in, long term land investments, land planning, multifamily, office, industrial, single family residential and an agricultural management company.

SOURCE Pinal Land Holdings LLC