Land

ABI Multifamily Brokers Goodyear Land Deal for $10,500,000

ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $10,500,000 / $9.42 Per Land SF sale of FirstStreet at the Ballpark, a land deal located in Goodyear,
Arizona. Located on the southeast corner of Estrella Parkway and West Lower Buckeye Parkway, the 25.6-acre site in a designated Opportunity Zone and contiguous to the spring training facilities for the Cleveland Indians and Cincinnati Reds spring training facility.

The preliminary plan for the site consists of a total of 251 units arranged in a combination of single-story individual and duplex buildings featuring one, two, and three-bedroom configurations ranging from 800 to 1,500 square feet. A clubhouse with a built-in fitness center, yoga studio, lounge/game room, and kitchen and other common amenities such as a swimming pool, spa, sunning deck, fire pit, bocce ball and cornhole courts, barbecue grills, and picnic area are currently planned. The plan also includes consideration for ample parking space in the form of open/covered spaces and private garages.

FirstStreet at the Ballpark is located within the fast-developing city of Goodyear, surrounded by numerous economic drivers such as: Chewy, Amazon, Dicks Sporting Goods, Snyder’s of Hanover, numerous data centers, in addition to the Phoenix Goodyear Airport. The site is also near major transportation thoroughfares such as the I-10 Highway, Loop 303, and US-85 highways. Patrick Burch, partner at ABI Multifamily, says, “FirstStreet at the Ballpark is a phenomenal development opportunity for the buyer, who was looking for both build-to-rent development opportunities as well as Opportunity Zone sites. This property fits the bill for both. We are currently selling multiple deals in the Goodyear/Avondale submarkets for build-to-rent and market rate apartment developments, as the Southwest Valley continues to be a hotbed for developers looking to be a part of the large economic growth we are seeing in the area.”

ABI Multifamily’s Patrick Burch and John Klocek represented the buyer and seller in this transaction. The buyer is Harvard Investments, an Arizona-based Real Estate Firm. Craig Krumwiede, President and CEO of Harvard Investments says, “We are excited to add this site to our growing portfolio of quality build-to-rent communities and we are looking forward to starting construction.”

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