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8/25/17
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Litwin Management has purchased Laveen Village Marketplace, a 56.7k sf retail center in Arizona, for $14.2 mil ($250/sf). It was sold by PASSCO Companies LLC.
Laveen Village Marketplace is located at Baseline Rd and 51st Ave in Laveen, AZ. The center is anchored by Fry’s Food & Drug and Home Depot.
Jenette Bennett with Kidder Mathews and Patrick Luther of SRS represented Litwin Management in the transaction.
The Laveen market currently has record low vacancy with new construction on the horizon. The development of the Loop 202 freeway will continue to bring growth momentum to this community. In general, suburban cities pushing the boundaries of Metro-Phoenix, like Laveen, are a draw to net leased retail investors and tenants alike due to their new housing development, community and family-friendly atmospheres, affordable cost of living, and ease of access to major employment hubs through the constantly improving freeway systems.
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