140 Acres of Land in Laveen Village Sells for $39.5M

Article originally posted on AZ Big Media on June 16, 2022

Dallas-based investment company Leon Capital Group has purchased 140.3 acres of land near the Loop 202 Freeway and Dobbins Road in an area within Phoenix known as Laveen Village. Steeped in natural beauty and agricultural heritage, Laveen Village has been long valued by farmers, equestrians, and those looking for solitude or easy mountain access. This Village, nestled between South Mountain and the Salt River, attracts residents for its rural character, community-focused traditions and the abundance of recreational amenities.

 

The growth the area has experienced provides needed amenities while maintaining a rural, easy living flair. With its proximity to downtown and the South Mountain Freeway Extension, additional opportunities for commercial and residential development, weaved with elements of area’s agrarian heritage, abound.

After a 13-month escrow, Leon Capital Group closed on the land for $6.90 per square foot or a total sales price of $39,500,000. The location appealed to Leon Capital Group due to its proximity to west coast shipping centers and easy access to the Loop 202 Freeway. The site offers a variety of development possibilities including multifamily, office and industrial.

Land specialist Larry Kush with ORION Investment Real Estate negotiated the transaction. Kush stated,” “I’m excited to have had the opportunity to play a significant part in what will no doubt be a major industrial and residential center in the West 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.

BACK TO TOP FIVE