Have you heard the news — Goodyear is becoming a business hub?
O.K, true — that’s old news. But it’s not fake news, as big projects just keep rolling into G-town (Goodyear’s unofficial hip-hop name).
ViaWest Group announced last week it closed on the acquisition of a 26-acre parcel at the southwest corner of Elwood Street and Sarival Avenue, south of Lower Buckeye Road in south Goodyear.
The sales price: $4.55 million.
“The acquisition is a joint venture with a Philadelphia-based investment company,” said a press release from ViaWest.
According to the release, the land is zoned for industrial use and will be developed into three industrial buildings totaling more than 400,000 square feet.
The California-based seller was RADOS Properties-Arizona Land, LLC. Allen Lowe of Lee and Associates represented both the buyer and the seller in the transaction.
“The rapidly expanding Goodyear industrial market is a strategic location for a long-term investment,” said Gary Linhart, founding partner at ViaWest Group.
The three buildings “are intended to be single- or multi-tenant use with modern, state-of-the-art specifications.”
Construction is set to begin in March and finish in early 2021.
“The investment by ViaWest is further evidence of the confidence developers have in Goodyear, where tenants see a great place for business, quality of life, and expanded housing options for their employees,” said Goodyear Mayor Georgia Lord.
She added “the small to mid-sized speculative buildings” are expected to be filled fast. “I am excited about the impact on job growth as companies take advantage of these buildings within Goodyear,” Lord replied.
The site is not as close to Interstate 10 as some other big projects. This one is 3 miles south of Cotton Lane and I-10.
But ViaWest is looking ahead, as its new site is less than a mile from the future Loop 303 southern extension. The Elwood/Sarival location is also adjacent to buildings occupied by Amazon and Macy’s.
ViaWest Group knows the area well, as it’s a Phoenix-based, full-service commercial real estate investment, development and property management firm.
The $4.5 million sale adds to ViaWest’s portfolio of more than $1 billion in acquisitions.
On a somewhat smaller scale:
The Southwest Valley Chamber of Commerce hosts a ribbon-cutting at Emerald Heart at noon Friday, Nov. 22.
What’s this place all about?
“Promoting, creating, and reinventing awareness toward self-healing,” Emerald Heart’s Facebook page wrote. “With a unique eclectic flair, this store offers tools to assist in your individual healing needs.
“Offering books, works of art, a variety of teas, home decor, metaphysical tools and more.”
Explore the metaphysical at Emerald Heart, 13000 W. Indian School Road, Suite A4, Litchfield Park; 623-248-6435.