April 27, 2020 Comments Off on Downtown Phoenix Site Trades for Record $14M Views: 878 Phoenix, Phoenix & Southwest News, Top Phoenix

Downtown Phoenix Site Trades for Record $14M

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Phoenix-based Glasir Capital Partners acquired 1.83 acres at 601 N. Central Ave. in downtown Phoenix for $14 million. Honeylou Reznik sold the property that had been under the Reznik family control for nearly 50 years. The deal ranks among the highest price land sale in Phoenix history.

The site at Pierce Street, Fillmore Street, Central Avenue and First Street formerly housed the Reznik family’s Jewel Box jewelry store and pawn shop, as well as an underground bowling alley. In recent times, the site has been used as a parking lot.

Dean Corley, who has handled land deals for the family, told the Phoenix Business Journal the property most likely will be developed as a mixed-use multifamily project.

Phoenix Community and Economic Development’s Christine Mackay said the Reznik family land sale is a sign the resurgence of downtown Phoenix continues, even during the COVID-19 pandemic.

* Photo credit: Bob Pool / Shutterstock.com

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