50th Street Ahwatukee Land
Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the marketing and sale of a fully-entitled, 13.95-acre multifamily development site (the “Site” or “Ahwatukee Land Site”) in the popular Ahwatukee submarket of Phoenix, Arizona
Deal Type: Development, Acquisition
Risk Profiles: Core
Property Types: Land, Multifamily
INVESTMENT SALE ADVISORY TEAM
JOHN CUNNINGHAM
Managing Director
john.cunningham@jll.com
+1 602 625 7476
THE OPPORTUNITY
The Site can accommodate 417 units that are expected to quench the staggering demand for new development in the submarket, as Ahwatukee has seen no new deliveries since 2015. The Site includes zoning approval, a conceptualized site plan, and is designed to encompass luxurious amenities including a spacious pool, fully enclosed dog park, modern clubhouse & fitness center.
The Site features an opportunity to develop in the Ahwatukee submarket which has the highest barriers to entry in the Phoenix Valley, with no remaining developable parcels available. In addition to the limited deliveries and pipeline, Ahwatukee is one of the most high-demographic locations in the Phoenix MSA. The median household income within a 3-mile radius of the site is a healthy $97k per resident, thus allowing developers to provide new product to an area craving luxurious renting options.
- ZERO INSTITUTIONAL DEVELOPMENTS IN 8 YEARS
- NO NEW PROJECTS UNDER CONSTRUCTION
- 10 MINUTES FROM INTEL CHANDLER
- 18 MINUTES FROM INTEL OCOTILLO
INVESTMENT HIGHLIGHTS
- Fully-Entitled Site in Phoenix’s Most Supply-Constrained Submarket
- Ahwatukee Remains Untouchable to Developers Via Limited Viable Sites
- High Barrier Submarket With No Multifamily Currently Under Construction
- No New Supply Added to the Submarket in Over 7 Years
- Close Proximity to Robust Employment Base Including High-Tech Price Road Corridor
- Exceptional Demographics with Lowest Rent-to-Income Ratio in Phoenix
- Walkable to Over 3.4M SF of Retail/Amenities