LGP Enterprises, Inc, a real estate investment partnership, has purchased a 12.5-acre development site, located at the west and northwest corner of Avondale Boulevard and McDowell Road in Avondale, Maricopa County, Arizona, for $2,651,500. The seller SCM-POG, LLLP was represented in the transaction by Kidder Mathews commercial real estate broker Brian Rosella.
The development site is near a major corridor along Interstate 10 and across the street from Phoenix Children’s Hospital. It is designated for mixed-use with the ability to rezone multifamily residential. There have been several recent announcements for future commercial development near Avondale along the healthcare corridor on McDowell Road.
“This sale shows the continued interest in the West Valley as a place of growth,” said Rosella, senior vice president at Kidder Mathews. This is the latest, of many, development sites that Rosella has brokered in Maricopa County in the past eight months.