$18M Land Buy Will Seat 455,000-SF MXD Park

GOODYEAR, AZ-An affiliate of the Phoenix-based J. Walters Construction Co. Inc. has closed on the $18-million purchase of 40.34 acres in this rapidly growing Phoenix suburb. The site will be used for development of a 455,000-sf mixed-use business park.

Walters’ affiliate Mutual Development Co. LLC acquired the southwest corner of Litchfield Road and Interstate 10 through an entity known as Walters Litchfield LLC. Steve Fernandez, Andrew Fosberg and Claudia Jara with CB Richard Ellis in Phoenix represented the buyer. Josh Cameron and Scott Truitt with Western Land Co. in Peoria, AZ represented the seller, Saratoga Land Co.

“It’s a key freeway intersection a block or two from the heart of Downtown Goodyear,” Fernandez tells GlobeSt.com. “With all the things coming on line out there, the buyer saw this as a rare opportunity. There’s so much office, retail and residential going up in the area. Sites like this are hard to find.”