350-001 70-411 MB2-700 400-101 MB2-702 70-410 MB2-703 200-120 70-461 C_TADM51_731 70-462 EX300 VCP-550 70-480 C_TAW12_731 70-484 70-498 70-646 98-361 98-366 A30-327 C_BOE_30 C_TSCM42_66 C2010-597 C2020-632 C2020-701 C2020-703 C2040-408 C2040-988 C2070-581 C2150-195 C2160-667 C2180-274 C4040-226 C4090-453 CAS-001 CSSLP C-TERP10-60 E20-018 E20-918 JN0-360 MSC-321 P2080-088 PC0-001 PEGACSA-v6.2 3I0-012 500-051 640-875 640-916 642-427 642-647 642-691 650-663 700-037 70-247

City of Mesa Thriving in the center of the Commercial Real Estate Boom

Phoenix, Arizona – October 30, 2019 –  The Mesa community is comprised of several master-planned communities including Taylor Morrison, Shea Homes, Marcay Homes, Meritage Homes, Pulte Homes, Woodside Homes, and ranked once again at No.7 in the nation and No.1  in Arizona is Eastmark by RCLCO, Top-Selling Master-Planned Communities. This development is one of the largest residential developments in the nation.  It is a community that was built on rich connections and creativity that continues to evolve.

According to Wallethub, it was recognized as “The best Big City to Live In” based on affordability, economy, education, health, safety, and quality of life. Niche ranked Mesa #7 among the “Best Suburbs for Millennials in Arizona.”  It is 3rd most populated city in Arizona on is the 35th largest city in the United States.  The city boasts a highly skilled workforce which has contributed to its economic expansion, rapid growth and numerous development activities within the City of Mesa.  Director of Retail Leasing & Sales Investments with SVN Desert Commercial Advisors, Rommie Mojahed stated in an interview from 2017, that the “southeast valley would be fueled by the rise of employment and developers moving into the area to build.”  True fact, indeed! Since 2017, there have been several major economic projects that have come to fruition.  “With the leadership of former Mayor Smith and current Mayor John Giles, Mesa has grown with the redevelopment of the Fiesta District, Downtown Mesa, and the Phoenix-Mesa Gateway airport,” stated Rommie Mojahed.  “As a Mesa native, it’s great to see all the progress.”

The Economic Development of Mesa, a smart location for intelligent companies such as Apple, Boeing, Bridgestone, Dexcom, Fujifilm, Mitsubishi, and the new $1B Google Data Center to name a few, all have significant operations in Mesa.  The area has created a sustainable economy, educated workforce and a promising partnership between government and industry.  “A few years ago, we developed a vision to take an under-utilized stretch of Elliott Road and create the Elliot Road Technology Corridor,” said Mayor John Giles.  The mayor continued to state, “This was a deliberate attempt to diversify the economy in the area by attracting tech companies.”  A development that was in the works for over one year was named “Project Red Hawk” due to the confidentiality of the project.  In July of 2019, the Mesa City Council approved the plan to build the $1B Google data center at the northwest corner of Elliot and Sossaman Roads.  “The investment and infrastructure is in place and the City of Mesa has a tremendous amount of resources,” said Bill Jabjiniak, the Economic Development Director.

Sky Harbor International Airport has been known to out of state travelers as our main airport, the growth expansion. However, the Phoenix-Mesa Gateway Airport one of the fastest growing airports in the U.S serves 45 destinations around the country.  SVN’s Mojahed said, “We hope to add to Mesa’s growth/employment at our 72 acres of land at Ellsworth and Pecos, just south of the Phoenix-Mesa Gateway airport.”  Mayor Giles added, “The Gateway area is a 35 square-mile developing aerotropolis that is ideal for international companies, aerospace/aviation and defense firms, high-tech manufacturers, large industrial users, research and development, data centers, and educational systems.  Case in point, the vision of having ASU Polytechnic, Pecos Advanced Manufacturing Zone, Elliot Road Technology Corridor and now SkyBridge in the area has boosted the national visibility for the City of Mesa. SkyBridge, the nation’s first joint U.S./Mexican Customs facility all in one region of the city is a great selling point.  The lead general contractor Graycor Construction Company projects this development to be in the upwards of over 4M square-feet.  The Economic Development Director Jabjiniak added, “We are now starting to see the tech companies come into play.”  The airports all serve a different purpose and the investors and developers can capitalize on its purpose.  “With Falcon Field, a corporate aircraft and general aviation, we are positioned for future advantages. We took strategic efforts in the Falcon district to support the diversity in the growth around it,” said Jabjiniak.

Just north of their developments is also the new industrial complex, Landing 202 announced by Marwest Enterprises. In addition, Falcon Field is the busiest aviation airports in the United States with over 700+ aircraft based at Falcon Field with over 270K flight operations annually has made traveling into the State of Arizona much easier.  From domestic and international flights coupled with private aircraft and cargo service, the aviation industry in the state has seen accelerated growth over the last few years.  Just recently, the long-awaited four-story, 64,000 square-foot Hilton hotel broke ground for the Home2 Suites Hilton Hotel near by the airport.

The city’s economic development efforts are also centered on healthcare. The city is home to Banner Desert Medical Center, the largest comprehensive hospital in the East Valley.  California-based WageWorks also leased 150,000 square-feet at Lincoln’s Property Co.’s new office park in Mesa as its main U.S. operating location, providing jobs for 500 current employees and adding another 500 new jobs at the site according to reports from Lincoln Property Co. Executive Vice President, David Krumweide.  The first building at Union development project is located in the heart of Mesa’s Riverview mixed-used district; the epicenter of District 1.  With an accelerated amount of growth, it may raise some concern about the investment laid down for the groundwork for the thriving growth in the area.  “Our residents understand the needs of growing communities and have recently passed bonds for public safety, transportation, parks and cultural amenities,” said Mayor Giles.  The City of Mesa will be adding 65 new police officers and 45 new firefighters that the public safety bond project entails.  The Mayor’s office will continue to monitor the needs in the community, implement best practices and technologies to provide the residents with excellent services in the community.

SRP has also been heavily involved in developing the new electric infrastructure that is required to support the growing technology industry in the area.  In August of 2019, SRP began to inform the public of the upcoming development on the 187-acre parcel.  The power will provide reliable energy supplies that will enable the growth and high-tech area designated for industrial, employment and mixed-use development.  The proposed project will require some transformer additions that will be strategically placed throughout the property to service the power load. Starting in November, there will a series of SRP public hearings to address the CEC (Certificate of Environmental Compatibility) Line Siting requirements as well.

Inevitably the diverse aerospace and technology companies have been a thriving economic engine for the entire City of Mesa.  The pandemonium of the economic development has attracted more than half a dozen Fortune 50 companies into the area that continues to create employment for the Mesa, southeast communities. Retail Director, Rommie Mojahed has over 6.1M square feet of development, industrial and retail opportunity in between Falcon Field and the Phoenix-Mesa Gateway airports to fill.  With the additional tax incentives for the Opportunity Zone parceled land, Mayor Giles stated, “We expect to see many more companies invest in Mesa.”

 

SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types. Visit our website at www.SVNDesertCommercial.com for more information.

 #

Media Contact: Melissa Swader
melissa.swader@svn.com

Melissa Swader

Your Turn To Talk

Your email address will not be published.