18.5 acres of commercially zoned land located at the NWC of Litchfield and Cactus Roads traded this past week for $2,225,000. Judi Butterworth of ORION Investment Real Estate and Cathy Cheshier of Property Dimensions Real Estate Group, Inc. represented Veramonte Land Holdings LLLP in the sale, and the land was acquired by Terry B. Brodkin & Associates as 18.5 Litchfield & Cactus LLC.
The land parcel is adjacent to the upscale Marley Park community in Surprise, which is months from completion. Surprise is the second-fastest expanding municipality in the greater Phoenix metropolitan area. The site benefits from higher-end homes built by Meritage, Ashton Woods, and Lennar. In addition, numerous jobs are being created with new projects being regularly approved, such as The Baxter project (a new 145,000+ square foot package delivery facility) at Litchfield Road & Sweetwater Drive.
The buyer is working with LGE to develop high quality flex space at the back of the project, while the frontage is being sold off as retail pads. Contact Judi Butterworth if you’d like more information on acquiring a pad.
Judi Butterworth commented on the land transaction, “This site offers substantial frontage on both arterials, while being backed up to quality housing. The trade area offers a highly desirable demographic – good income and young families with children. Litchfield Road was just widened and improved, and the immediate trade area is outstanding.”