Scottsdale-based investor Zach Sakas sold a 40-acre parcel in North Scottsdale for $5.5M to homebuilding giant Toll Brothers. Sakas, through his company Copper Sky Land LLC, acquired the land in February 2015. The property is near 120th Street and Jomax Road and features boulder outcroppings.
“The property is one of the few large pieces left in that area,” Sakas said. He sold the property for more than a 90% gain over the acquisition price.
Toll Brothers has not announced a name for its project or when development might begin. Rezoning of the property was completed in June. Land Advisors Organization's Bret Rinehart, Ryan Semro and Ben Heglie repped the seller.
