Business Briefcase

The 5.45 acres on the southwest corner of Citrus and Bethany Home roads traded for $2.2 million. (SVN Desert Commercial/Submitted)

More retail, entertainment, food and job opportunities are arriving in Litchfield Park, Goodyear and Tolleson — and we have all the info.

LP acreage goes for $2.2M

SVN Desert Commercial Advisors kicked off the second quarter with a land sale adding to the expansion and development of Litchfield Park. The 5.45 acres on the southwest corner of Citrus and Bethany Home roads traded for $2.2 million.

This transaction is the highest price per square foot for land in the area.

The buyers plan to build a self-storage facility to accommodate the boom in planned residential developments.

“The demand for self-storage around Phoenix has been growing at a rapid rate, and this location has great potential being right next to over 1,000 housing units either already developed or being developed in the area,” said Michael Tarantino, SVN Desert Commercial Advisors.  

ViaWest closes on deal 

ViaWest Group, in a joint venture with American Opportunity Zone Advisors LLC, acquired an 8.8-acre land parcel in Goodyear.  

This land site is immediately south of its Goodyear Crossing Industrial Park project and marks the fourth Opportunity Zone deal for ViaWest Group. 

Goodyear ranks as one of the top 10 fastest-growing cities in the country and additionally as Arizona’s second-fastest-growing city. 

This site is located 3.2 miles south of a full-diamond interchange on Interstate 10 and within a mile of the future Loop 303 southern extension from I-10.  

Development plans include a 92,621-square-foot industrial building with ample acreage for an outdoor storage yard that will break ground and finish in 2023. 

“Currently our Goodyear Crossing property, with 411,000 square feet, is over 100% leased at completion. Adding Goodyear Phase II is a natural addition to the growing demand for industrial space,” said Alex Boles, director of investments and development at ViaWest Group. 

“The Goodyear submarket has been particularly strong, accounting for over a quarter of the overall absorption over the past three to four years.”

The federal opportunity zone provided an incentive for ViaWest Group’s initial investment at Goodyear Crossing. 

Finding the industrial demand high for an ideal distribution location, ViaWest expanded its interests by procuring 8.8 acres of additional neighboring land to develop. Its cumulative industrial development projects will contribute to Goodyear’s growth and prosperity.

Denny’s opens in Tolleson

Location: 9960 W. Lower Buckeye Road 

Denny’s opened a new store in Tolleson, offering guests a new look, featuring splashes of blue while paying homage to the restaurant’s 70-year history.

While dining at the new eatery, guests can take advantage of a $6.99 deal:  endless buttermilk pancakes, cheesy scrambled eggs and hash browns, starting at $6.99, through August.