S
hopoff Realty Investments has secured $52 million in financing from Peachtree Group for The Block on Elliot, a 270-acre industrial complex in Mesa, Arizona. This funding will support the next stages of development, including grading, offsite street improvements, and utilities for the nearly 4 million-square-foot project.

    The Block on Elliot is a master-planned industrial development comprising eight parcels with buildings totaling nearly 4 million square feet. Grading is scheduled to start later this year. Shopoff Realty has also been active in Southern California, developing mixed-income housing in Fountain Valley and redeveloping parts of the Westminster Mall into a mixed-use project.

    The funding from Peachtree Group will enable Shopoff Realty to move forward with The Block on Elliot's development plan, which includes reviewing and finalizing the project's product mix. This comes after Shopoff secured approvals for the project to be annexed into the city of Mesa in 2022.