Not-for-Profit Group Acquires Laveen Village, Arizona, Land for Power Infrastructure Development Article originally posted on CoStar on May 6, 2024 Salt River Project Agricultural Improvement and Power District has purchased more than 96 acres in Laveen Village in Arizona for $46.3 million, or $479,444 per acre, from Leon Capital Group. In June 2022, Leon Capital, a Dallas-based investment company, purchased 140.3 acres for $39.5 million, or $281,345 per acre, located at 202 and Dobbins Road. Fast forward to last month, and the company has sold 96.57 acres of that land to the not-for-profit organization. Salt River Project, which aims to provide affordable water and power to people in central Arizona, wants to use the land to develop a power infrastructure to serve the area of Laveen Village, an area located about 8 miles southwest of Phoenix that has been quickly expanding. Larry Kush, senior vice president and land sales specialist with Orion Investment Real Estate, helped broker the original purchase for Leon Capital back in 2022. He said Leon Capital’s original intent in buying the acreage was industrial development. Regarding future development, Kush said in a statement that Salt River Project “is meeting the need to provide a good source of reliable power to the west side of the loop.” For the Record Kush of Orion Investment Real Estate represented Leon Capital. Salt River Project was represented by Jackie Orcutt at CBRE.