Investment Overview

Marcus & Millichap is pleased to present the exclusive offering for ±288 acres that make up the Campos La Palma Planned Area Development or PAD in Eloy, Arizona. The site is just east of the northeast corner of Downtown Eloy; bordering Battaglia Road to the south, Houser Road to the north, and La Palma to the east. The site makes up the entirety of the Campos La Palma PAD and neighbor to the larger Esperanza PAD. The site is primarily slated for Single Family Residential with the majority zoned R1-6 allowing smaller lot sizes (6,000 sq.ft.) than other single-family districts while maintaining a traditional single-family neighborhood character. A section (±10% estimate) near the northeastern section of the site is zoned R-2 for Small Lot Residential allowing 6-12 dwelling units per acre (gross) with heights limited to two (2) stories), and two smaller sections on its north-central end and northeast corner zoned C-1 for Neighborhood Commercial. Eloy is strategically located along I-10 in the center of a major growth corridor between Arizona’s two largest cities with a distance of ±45 miles to Phoenix’s southernmost border and ±45 miles to Tucson’s northernmost border. Eloy’s economy has been concentrated on agriculture but in recent years the city’s economy has expanded with more than three-quarters of its businesses and nearly half its employment now in industrial, wholesale/retail trade, and service sectors. The city is a prime location for five major truck stops (along I-10 and businesses have benefitted from the existence of the Union Pacific Railroad which runs north of I-10. With a long list of development projects underway, some of the more notable include Robson Ranch a 55+ golf community where construction began in 2005 and is expected to feature approximately 4,600 attached and single-family homes; National Gypsum is building a 500,000-square-foot wallboard manufacturing plant on 123 acres off S Sunshine Blvd and I-10 that is scheduled to open in April 2024; A new 7-bed hospital is under construction by Exceptional Healthcare on a 10 acre parcel within the Sunshine Industrial Park and option of an additional 10 acres for future expansion; and most news ready has been Nikola’s new 707,068 SF Manufacturing Facility along Houser Road on the east side of State Route 87, approximately 1.5 miles of the offering. Proctor & Gamble recently purchased the 430-acre site just north of Nikola to build a manufacturing facility for their household products. In neighboring Casa Grande, Lucid is now the largest employer with their recently opened 3.85-million SF manufacturing facility on 590 acres. Additionally, Kohler is building a 1-million-square foot facility on 216 acres for manufacturing their plumbing products, and Taiwan-based Chang Chung Arizona is building a 540,000 SF facility on 84 acres, neighboring Kohler in Casa Grande. Each has reported the investment into these facilities to be ±$300-million.