By Rose Law Group Reporter
9.8 Acres of commercially zoned land located at the SWC of Litchfield Road and Sweetwater Avenue traded recently for $1,113,306 or $2.61 per sf, plus $0.48 per sf additional to pay to Surprise at the time of development for road improvements on Sweetwater. Judi Butterworth of ORION Investment Real Estate and Cathy Cheshier of Property Dimensions Real Estate Group, Inc. represented the Seller, Veramonte Land Holdings LLLP, and the Buyer, Sweetwater 9.8 LLC.
The land parcel is right across the street from the new 30 acre Amazon Delivery Facility at the NEC. Amazon will provide 1,339 parking spaces for delivery drivers, plus 331 parking spaces strictly for employees. The package delivery facility will operate similar to other providers like USPS, UPS, and FedEx. The site is adjacent to the upscale Marley Park community in Surprise, which is known for “Scottsdale” incomes with young families. The last phase of housing is under construction right now.
Surprise is the second-fastest expanding municipality in the greater Phoenix metropolitan area, and is projected to have over 217,000 residents and 60,000 jobs in 2030.
Judi Butterworth commented on the land transaction, “This prime Surprise commercial parcel has a wide range of zoning options—from retail to business park, medical to flex buildings. With all arterials fully improved, this property is ready for development.”