Obscure, Chinese-backed developer eyes $1.2B project on banks of Tempe Town Lake

 

 

 

 

 

 

 

 

 

The greatest barrier to success is the fear of failure.

 

Aug 25, 2014, 2:55pm MST Mike Sunnucks Senior Reporter-Phoenix Business Journal

The city of Tempe is poised to sell 11 acres of land on Tempe Town Lake to a developer who claims financial backing from Chinese and commodities-trading interests. The plan? A $1.2 billion, 2 million-square foot development on the parcels.

Tempe is preparing to sell the lakeside parcels to Scottsdale-based TrendEx Holdings LLC for $17.6 million.

The project would include offices, condominiums, retail and a hotel on what be one of the largest in developments in the state — if it ever comes to fruition.

The land sits north Rio Salado Parkway and in between Rural Road and McClintock Drive.

The Tempe City Council took a step forward with the sale at its August meeting and has another public hearing scheduled for Sept. 4. There was no debate or discussion on the land sale at the Tempe council’s August meeting and the sale measure moved forward via a unanimous vote. TrendEx will still have to consummate the land purchase after city approval, and there is little known locally about the developer.

The land is part of the Pier 202 area of Tempe, which has seen development plans famously come and go over the years.

TrendEx was the only developer to submit plans after the city issued a requests for proposals last year.

Arizona Corporation Commission filings show TrendEx with a Scottsdale address and Robert Swagger as its corporate manager.

Swagger was also president and CEO of a company called The Trend Exchange Inc., according to ACC filings. The Trend Exchange is a sister firm to a company called Media Derivatives. That company once sought to sell futures contracts based on expected movie box office revenues.

Swagger is also listed in the corporate filings of several other businesses in Scottsdale and Paradise Valley, including Veriana Ventures. Sean Bonini, a principal for Scottsdale-based Signature Real Estate LLC, is also part of the TrendEx effort. Bonini said he was meeting with other partners this week and they would be able to talk more of their plans soon.

In an Aug. 20 release, TrendEx said it was partnering with China International Development Investment Corporation Limited (CIDIC) and other partners.

“We are excited to be doing business with our Arizona partners and look forward to deploying substantial resources for a signature development in the dynamic Tempe market,” said Alan Tay, CIDIC North America CEO in the release.

The Hong Kong company also does commodities trading and has been involved in a number of construction projects in China. CIDIC officials did not respond to e-mails seeking comment.

There has been significant Chinese real estate investment in the U.S. of late, but most of that has gone to larger or coastal U.S. markets such as San Francisco, Los Angeles and Seattle — not Phoenix.

Phoenix land-use attorney John Berry is also quoted in the TrendEx release.

“I have had the opportunity to work closely with the principals of this project and am pleased with the positive results the proposed project will have for not only the Tempe community but for the state of Arizona at large,” said Berry, the founding partner of Berry Riddell and Rosensteel LLC.

Berry declined further comment.

The TrendEx development is just east of the $600 million Marina Heights project being built by Ryan Cos. and Sunbelt Holdings for a State Farm Insurance regional operations hub.

There’s also a planned new 159-room Marriott AC Hotel proposed by Woodbine Development Corp. on a Hayden Ferry Lakeside parcel north of Rio Salado and east of Mill Avenue. The Tempe council is looking at property tax breaks for that project. There are also apartment complexes and other potential real estate development in the area near Arizona State University’s main campus.

Mike Sunnucks writes about politics, law, airlines, sports business and the economy.

A little about me and my expertise – video

                    

commercial / investment real estate / Arizona land specialist

https://www.youtube.com/watch?v=PPs3kpKR4nY

 

I go to great heights to sell or purchase your land

http://walter-unger.com/?p=10118

 

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

3

Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

 

4.

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Investment Properties in Phoenix.

 

 

View my listings and my profile at:

http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/

 

www.Walter-Unger.com

 

What is a CCIM?

 

Join My Mailing List

 

 

Please go to my web-site and get all the newsflashes and updates in Commercial Investment Real Estate in Phoenix and Commercial Investment Properties in Phoenix daily

 

www.walter-unger.com

 

 

Check out my professional profile and connect with me on LinkedIn.

http://lnkd.in/bezpJ8t

 

Follow me on Facebook:

http://www.facebook.com/ungerccim

 

Follow me on Twitter:

https://twitter.com/Walterunger

 

 

Follow Me on Google+

https://plus.google.com/u/0/b/114560883588623379451/

 

Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 20 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.

 

WHETHER YOU LEASE OR OWN

NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.

 

we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.

 

If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 

 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554

 

www.Walter-Unger.com

 

Thank You

Walter

Walter Unger CCIM

Associate Broker,  West USA Commercial Real Estate Advisers

7077 E. Marilyn Road, Bldg 4, Suite 130

Scottsdale, AZ 85254

Cell:      520-975-5207   

Office :  480-948-5554

Fax: (480-658-1172  

walterunger@ccim.net

 

View my listings and my profile at:

http://www.loopnet.com/Profile/14101172900/Walter-Unger-CCIM/

 

www.Walter-Unger.com             

 

a little about me and my expertise – video

 

commercial-investment real estate adviser-land specialist

 

https://www.youtube.com/watch?v=PPs3kpKR4nY

 

What is a CCIM?

 

 

Delivering the New Standard of Excellence in Commercial Real Estate 

 

  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate

 

Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.