SOURCE: Troy Bohlke Enterprises, LTD

April 22, 2015 20:10 ET

Troy Bohlke Goes Into Escrow on 4.1 Acre Property in Downtown Chandler at San Marcos Golf Resort

CHANDLER, AZ--(Marketwired - Apr 22, 2015) - Troy Bohlke has officially entered into escrow on a beautiful infill project that consists of 4.1 Acres, located inside the Crown Golf Resort in San Marcos, in the heart of downtown Chandler.

Currently, the property features 46 unoccupied Casitas that are located adjacent to the Golf Course, and that are within walking distance to the downtown strip on Boston Avenue. The property is central to new development in the rapidly growing Chandler region, where there is high demand for luxury condos, but virtually no availability in the downtown area.

Bohlke and his business partner, Joe Trednic, teamed up and ordered a third-party feasibility study to validate what they had learned.

"We especially liked this plot because of its location," Bohlke explained. "Generally, if a luxury development is located near water or near a golf course, it is worth taking a closer look. So we hired Lockman & Long to conduct a third-party research and feasibility study on the property."

According to the feasibility report, the property has it all.

"It's within a close proximity (walking distance) to a long list of restaurants, shopping areas and more, just a stone's throw away from the beautiful and thriving downtown Chandler area," Bohlke said.

Chris Long of Lockman & Long Real Estate Services agreed, stating, "After conducting our due diligence, we realized that Chandler is growing by leaps and bounds, and the city has grand plans for its 'infill program' in the downtown area over the next five years."

After reviewing the feasibility report, Bohlke and Trednic teamed up with Jeff Labriola, a luxury home builder with Bel Aire Development, to get some steam under the project and to start making headway towards the goal of development.

"We couldn't be in a better location at a better time," Trednic said. "Our feasibility report shows that the downtown area is in need of luxury condo developments just like this right now, particularly in the heart of downtown area, namely due to the influx of major corporate headquarters that have been moving into the area in recent years."

Labriola quickly recognized the property's potential and got on board with Bohlke and Trednic.

"When it's all said and done, the San Marcos Luxury Condo Project is approximately a $25 million dollar project," explained Trednic. "We were fortunate enough to cross paths with Labriola, who is no stranger to the development of luxury properties. We are surrounded by new developments, big names, and the energy of one of America's fastest growing cities. So it doesn't hurt that we are on the golf course and have access to an assortment of amenities."

Once escrow closes and the development has gotten underway, the trio plans to demo the existing casitas and bring in a revamping team that will help design and build 83 to 110 luxury condos. The condos will be situated directly on the golf course, and will be within walking distance to the numerous attractions that are offered in Chandler's booming downtown area. 

"The time is ripe to capitalize on the real estate opportunities at-hand in Arizona," said Bohlke. "We are eagerly anticipating the ground-breaking ceremony, so we can help contribute to the development of a city that is rich in culture and history, and that's expanding faster than almost any other city in the nation."

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