The West Valley is constantly growing, and restaurants, businesses and homemakers are choosing to flock here to continue to open their doors to the thousands of people that call it home. In addition, businesses that have already been in the West Valley are changing hands, as investment opportunities are aplenty. This week, the Business Briefcase is breaking down new homes coming to Avondale and a multifamily property exchanging hands.
Highland Sage and Highland Ridge at Alamar
Location: 11750 W. Broadway Road, Avondale
Brookfield Residential, an international land developer with more than 65 years of homebuilding experience, is opening two new neighborhoods at Alamar in Avondale.
Alamar’s newest homes are located in phase four of the community and feature several new builders spanning 1,150 acres in southwest Avondale.
The Highland Sage and Ridge neighborhoods offer 229 homesites with eight floor plans ranging in size from 1,799 to 3,094 square feet. Prices start in the high $300,000s.
Brookfield Residential is offering three distinct home styles at Alamar, which include Spanish Colonial, Arizona Ranch, and Traditional Southwest. The styles of the homes have been designed to reflect the deep-rooted history and contemporary flair of the region, and support the unique desires of all residents, from young, first-time homebuyers to families with children of all ages to empty nesters and grandparents.
For more information, call 602-536-9388 or visit brookfieldresidential.com.
Location: 10350 W. McDowell Road, Avondale
Aventura, a 408-unit multifamily asset in Avondale, has been purchased by Institutional Property Advisors (IPA), a division of Marcus & Millichap, for a whopping $102.5 million, or $251,225 per unit.
Constructed in 2000 on 18 acres, Aventura is a gated, 19-building garden-style asset with two resort-style swimming pools. The property also has a recently renovated leasing office, a standalone clubhouse, a fitness center, garages and covered parking. Units, which on average are 903 square feet, have full-size washers and dryers, wood-style vinyl flooring, and patios or balconies.
The property is adjacent to upscale retail and dining at Gateway Pavilions, Gateway Crossings and Crossroads at Tolleson, and there is 14.5 million square feet of mixed-use space within a five-mile radius.
Close to Interstate 10 and Loop 101, Aventura gives its residents access to 26,000 businesses within commuting distance in the Deer Valley, Interstate 17, South Peoria, Downtown and Midtown Phoenix employment corridors. In addition, major employers that are in the area include Amazon, Banner Health and Bechtel.
For more information on Aventura, visit greystar.com/properties/avondale-az/aventura-apartments.