City to City Commercial Brokers 15.88 Acres Multifamily Land – Mayberry on Rittenhouse for $12,750,000

Queen Creek, Arizona. (07/28/2022) – City to City Commercial, the leading commercial brokerage and advisory services firm in the valley is pleased to announce the $12,750,000 / $802,897 Per Acre / $18.43 Per Sq Ft / $68,548 Per Unit sale of Mayberry on Rittenhouse, multifamily land located in Phoenix, Arizona. City to City Commercial’s Scottsdale-based Multifamily/Land group – Shane Benjamin and Patrick Benjamin represented the buyer in this transaction.

The buyer in this transaction is Ascent Merit MNGT and the seller in this transaction is Property Design Dev.

The site is 15.88 Acres just East of the Southeast corner of Rittenhouse Rd and Sossaman Rd. The project is to be named Mayberry on Rittenhouse and is planned for 186 attached and detached Patio Homes with a Density of 11.71 Per Acre. Unit mix is 82 – 1 Bedrooms, and 104 – 2 Bedrooms.

“Mayberry On Rittenhouse will provide generous building setbacks and landscape buffers along its shared boundaries with single family residential land uses to the east, south, and west, which is larger than what is required per the Town of Queen Creek Zoning Ordinance,” the developer said. Stating the development’s high-end character blends in with the “existing fabric of the town’s approved neighborhoods,” the developer also said:

“Mayberry on Rittenhouse will contribute to the Town’s economy in many ways. The additional residences will support the Town’s local businesses, and therefore, the Town’s economy, which is a major element of the Economic Development Strategic Plan. The proposed open space amenities will provide a higher quality lifestyle that will increase the value of neighborhoods in the area, which will indirectly contribute to neighborhood stability and a sustainable economy.”

City to City Commercial (https://www.citytocitycre.com/) is a commercial brokerage and advisory services firm that focuses on investment sale transactions in multiple property types. With 30 years in the industry, advisors at City to City Commercial have reached billions in sale volume through thousands of transactions. City to City Commercial utilizes a global approach with regional real estate expertise to successfully complete any transaction, regardless of size and complexity.