21 acres of land located on the southwest corner of 99th Avenue and Indian School Road in rapidly growing Avondale sold this week for $9,400,000 or $10.28 per square foot. Business partners Linda Fritz-Salazar and Angelessa Ritchie, represented the buyer in the transaction, Liv Communities. Liv Communities plans to build a 333 unit garden style, Class A apartment community with a retail component at this location. The parcel is located near State Farm Stadium, only a half mile west of Loop 101 and two miles North of Interstate 10. Liv Communities plans to build a 333 unit, $94.2 million Class A garden style apartment community at this location. Breaking ground is planned for January 2023 , with an expected opening in the summer of 2024.
The city of Avondale has seen an explosion of development and employment as well, with a reported 8,000 new homes planned just south of Interstate 10. Avondale’s Estrella Mountain College is currently embarking on a $31-million-dollar expansion, and massive employers, such as AKOS Medical and Vantage Data Centers, have recently chosen Avondale to expand in, with more health and tech companies expected to join them.
Buyer’s Brokers, Linda Fritz-Salazar & Angelessa Ritchie said, “When we brought this opportunity to Liv Communities, we knew it was the right fit for them. We are excited for them to bring another quality community to the Valley.”
ORION Investment Real Estate (“ORION”) is a leading full-service brokerage firm based in the Western United States. With 10+ years of continued growth and success, and more than a billion dollars in recent transactions, the ORION team provides first-class service to the commercial real estate community. Boasting an extensive knowledge of the market and properties and a tech-forward environment, ORION uses a tailored marketing and structured approach to each client to unlock the potential of each unique deal. ORION is headquartered in Old Town Scottsdale, Arizona.