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39 Acres Primed for Retail Development

TOLLESON, AZ-London Land Co., paying $1.4 million for the acreage, will start courting fast-food franchises and retail developers for the northwest corner of 99th Avenue and Buckeye Road. Seller JCPenney had the property on the market for six years.

By Beverly Ford | Updated on December 18, 2003

TOLLESON, AZ-A 36.8-acre strip of desert land is set to become the focal point of retail development that could turn Tolleson’s central corridor into a mix of commercial uses.

London Land Company LLC of Phoenix spent $1.4 million for the land at the northwest corner of 99th Avenue and Buckeye Road and soon plans to begin courting several fast-food franchises and local developers to turn the site into a commercial center. Steven Schnitzer with Coldwell Banker Commercial in Phoenix tells GlobeSt.com that the new owner expects to begin selling off the property by next summer…once Tolleson officials approve a site plan for the intersection.

“It’s a great site,” Schnitzer, who negotiated the sale terms for the buyer, says of the location along Tolleson’s central corridor. The city originally zoned the parcel for industrial use when retailer JCPenney bought it almost 20 years ago for a planned distribution center that was never built. The property was rezoned for commercial use by the new owner at the urging of city officials who wanted to see the area develop as a commercial center, he says.

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