The land is 35 miles west of Phoenix, with most of it now desertand rocks. Ross Smith, senior vice president with Grubb & Ellisin Phoenix, says the land does have other attributes. "The firstthing that's going on out there is water," he says. "It has a goodwater supply and you don't always find that in the desert."

|

Second, he adds, is the land has Interstate 10 frontage. "It'sin the path of growth from Phoenix," he explains. "Someday there'lllikely be rooftops out there."

|

Robert McGeorge, a broker with Don Bennett & AssociatesRealty in Goodyear, AZ, says Harquahala Valley is also an energyand power corridor between California and Arizona. "There are a lotof KV lines between the two states," he says. "The main interestfor a lot of the land buyers is solar. They're interested inhooking into the KV lines for distribution of solar power."

|

McGeorge tells GlobeSt.com he's working on approximately $100million of land deals in Harquahala Valley. He predicts a goodchunk of the land will be "under mirrors" and generating some kindof power within the next five years. "This is farm country thatused to grow melons. Now solar companies want to put up farms tohook into the power grids out there," he says.

|

Although McGeorge doesn't see much residential development inHarquahala Valley's future, Smith says Phoenix's growth isdefinitely moving west. He points out that Interstate 10 is adirect path to California and the ports of Los Angeles and LongBeach. With storage space running out in both ports, the goods willhave to go somewhere. With Harquahala Valley less than five hoursto the California coast, it's likely to be a good choice for futurewarehouses.

|

"In all of these areas, in the long run, I think we'll seemultiple uses--centers of employment and other developments--butnot in the near future," Smith concludes. "The Wolfswinkels arelooking at this from a long-term perspective." The Wolfeswinkelsdid not return calls for comment.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.