JLL Capital Markets is representing the owner in its quest for a developer to purchase a 7-acre land site for a mixed-use project
News release
17 August 2022
City of Litchfield Park selling land site in growing suburban Phoenix area
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PHOENIX, August 17, 2022 – JLL Capital Markets announced today that it has been engaged by the city of Litchfield Park to market for sale a 7.03-acre, fee-simple development site in the heart of Litchfield Park, which is a historic suburb of Phoenix, Arizona.
Zoned for mixed-use and comprising seven lots within Litchfield Square, the property is positioned at the northeast corner of Litchfield Road and Wigwam Boulevard adjacent to Litchfield Park City Hall. The site is surrounded by residential neighborhoods, luxury golf resorts, and eclectic locally owned shops and restaurants. The site is within the West Valley, one of the fastest-growing areas in Arizona, and proximate to regional parks and recreation areas. Additionally, the city has invested substantially into infrastructure for area streets and utilities, and there will be several parking garages for visitors and residents.
“This unique opportunity will allow a developer to bring a creative-mixed-use component to and participate in what will be the city’s downtown core expansion,” said Matthew Williams, City Manager for Litchfield Park. “Businesses and residents have flocked to the West Valley due to our affordability and superior growth prospects.”
The JLL Capital Markets Investment Sales and Advisory team that is representing the city of Litchfield Park is being led by Managing Director Brian Ackerman.
“This site is primed for what will soon become the city of Litchfield Park’s expanded downtown central core,” Ackerman said. “This development will help continue the success of the city and bring in patrons from other parts of metro Phoenix and visitors from outside the state.
“We look forward to working with developers that can broaden Litchfield Park’s visibility,” he continued. “The city of Litchfield Park is one of the last medium or large opportunities in metro Phoenix to finalize a central core. The city is requesting RFQ responses by a date to be announced soon.”
The RFQ is available for download here, and the city requests RFQ responses by Friday October 14, 2022. Please reach out to Ackerman if you have interest or have questions regarding the process. He can be reached at 602-418-8821, Brian.Ackerman@JLL.com.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.