Phoenix proposes millions in reimbursements to kick off tech corridor

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value.   Phone / Prefer cell: 520-975-5207
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In Business and in Life you don’t get what you deserve, you get what you Negotiate.

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By Audrey Jensen  –  Reporter, Phoenix Business Journal  Apr 25, 2023

The city of Phoenix is looking to turn remaining vacant farmland along a major freeway corridor into a new industrial and technology-focused center.

Phoenix wants to help developers bring new industrial buildings to the Loop 202 in the Laveen area in the south part of the city by reimbursing two firms — IDM Cos. and Leon Capital Group — up to $20 million in public infrastructure costs, or $10 million for each developer.

SEE IT ALL:    https://www.bizjournals.com/phoenix/news/2023/04/25/phoenix-infrastructure-reimbursement-industrial.html

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This will help speed up development of 2.4 million square feet across 10 new industrial buildings slated for the west side of the freeway between Dobbins and Elliot roads and attract potential employers, according to the city.

Nearly 50 million square feet of industrial tenants were looking for space in the first quarter of 2023 in the Phoenix metro, according to a recent CBRE Group Inc. report.

The city said this area is Phoenix’s newest industrial core and is now being called the Loop 202 South Mountain Technology Corridor. The sites, which have been used for farmland going back decades, have also been shortlisted by multiple high-wage companies.

Vancouver, Washington-based IDM Cos. plans to build a 1.2 million square-foot park called Envision Dobbins 202 West with six buildings across 80 acres along Loop 202.

Adjacent to this property, Dallas-based Leon Capital Group wants to develop nearly 1.3 million square feet of space including four buildings ranging in size from 223,280 square feet to 459,750 square feet, according to its website. The buildings will have frontage along Loop 202 just south of Dobbins Road.

SEE IT ALL:    https://www.bizjournals.com/phoenix/news/2023/04/25/phoenix-infrastructure-reimbursement-industrial.html

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Phoenix’s economic development and equity subcommittee is scheduled to vote on development agreements to reimburse the developers on April 26. The city said these projects are “vital” to activate the Loop 202 corridor and compete for economic development projects.

“Due to the extreme cost of public infrastructure in comparison to other parts of the city and in an effort to attract world-class employers along the Loop 202,” the city said it recommends the developers build out roads in the area such as Dobbins and Olney roads, water and wastewater lines and more.

The funds will be reimbursed through transaction privilege tax generated from the sites over a decade.

IDM Cos. is also planning to build a large mixed-use development nearby called Elliot 202. This project will sit across 63 acres near South 59th Avenue and Elliot Road and include two industrial buildings, three flexible office or retail buildings and a coffee shop. The south portion of Elliot 202 will include 420 units of housing.

IDM will also receive $1 million in reimbursements from the city for public infrastructure improvements to support building a 678-unit multifamily project near 99th Avenue and the Loop 101 in Maryvale.

Plans for development has significantly increased in the area in recent years following the completion of the 22-mile Loop 202 extension that connected Interstate 10 in the West Valley to I-10 in the East Valley. This new link was expected to boost economic development in the area.

Just across the Loop 202, Phoenix-based Vestar is working on bringing a new $130 million, 400,000-square-foot retail and restaurant center called Laveen Towne Center surrounding a historic farmhouse.

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Gila Foothills, another project, shows that a developer plans to build a large mixed-use project across 270 acres along the Loop 202 with residential, resort, commercial and industrial uses.

SEE IT ALL:    https://www.bizjournals.com/phoenix/news/2023/04/25/phoenix-infrastructure-reimbursement-industrial.html

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FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

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 Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  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 with you. I am also in this to make money therefore it will 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

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