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City lists ‘Restaurant Row’ site for sale at $7.3 million

If you’re looking for an investment opportunity and happen to have $7.3 million lying around, you might want to consider this.

The city has listed 22⅓ acres of land — that’s $326,700 per acre — on the southeast corner of Bowlin and White and Parker Roads — and it’s looking for a landowner.

Brady Murray of the Maricopa Real Estate Company said the listing has been active “since the beginning of October,” and the “high-growth area” has already generated some interest, though he did not go into any specifics.

“In the event that anything comes up, we would take it to the city, but there’s not anything in the works that I’m aware of,” he said.

The site gained some interest last year when then-City Manager Rick Horst unveiled a “Restaurant Row” concept at City Center, immediately south of City Hall. The dining destination highlighted some East Valley favorites, such as Ghett Yo Taco, Over Easy, Puro Lounge, Ginger Monkey Gastropub and West Alley BBQ.

A Georgia developer in April also showed interest in building a multifamily housing development on about one-third of the lot. While plans for either project have not moved forward since the announcements, this could be a sign that the next step in the development process is coming soon.

City spokesperson Monica Williams said this morning that the concept of a “Restaurant Row” with retail and affordable housing developments were “still something the city would like to see.”

An image of the 22.3 acres of land up for sale by the city, located on the southeast corner of White and Parker and Bowlin Roads. The land is being sold for $7.2 million and city officials are still hoping to see a “restaurant row” with retail and affordable housing development on the site. [LoopNet]

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