Tag Archives: Casino Del Sol Resort

Top5-casino-resort

Top 5 Accommodations: Casino Resort Destinations

Get ready to experience Arizona’s spring/summer 2014 Top 5 Accommodations for Casino Resort Destinations! And use Experience AZ to guide you toward a visit that will make you want to come back time after time to keep crossing the must see hot spots off your Top 5 lists.



Top 5 Accommodations: Casino Resort Destinations

Apache Gold Casino Resort
Location: Hwy. 70, 5 miles East of Globe San Carlos, AZ 85550
(800) 272-2438
Website
On-site Apache Gold Casino Resort is a 146-room hotel, an 18-hole championship golf course, convention center, nearby fishing and sightseeing.
Talking Stick Resort
9800 E. Indian Bend Rd. Scottsdale, AZ 85256

(480) 850-7777
Website
A distinct resort and entertainment destination in Scottsdale, Talking Stick Resort offers luxuries such as a rejuvenating open-air spa, eight world-class restaurants, 10 entertainment lounges, a lively 240,000 square foot gaming floor and two pools.

Wild Horse Pass Hotel & Casino
5040 Wild Horse Pass Blvd. Chandler, AZ 85226

(800) 946-4452
Website
Home to 1,200 slots with live poker and blackjack, a 1,500-seat concert venue, 250-room hotel, gift shop and great dining experiences, including Shula’s Steak House.

Casino Del Sol Resort
5655 W. Valencia Rd. Tucson, AZ 85757

(855) 765-7829
Website
Mediterranean architecture surrounds the gaming space, featuring 1,000 nickel, quarter, $1, $5 and multi-denominational slot machines. The $100 million resort, with luxury rooms and suites, has two new restaurants, a spa and 20,000 square feet of meeting space.

Twin Arrows Navajo Casino Resort
22181 Resort Blvd. Flagstaff, AZ 86004

(928) 856-7200
Website
Twin Arrows, located east of Flagstaff, is northern Arizona’s premier casino resort destination, offering luxury amenities and best-in-class gaming.

fun-fact-casino-resort
casino.del.sol

Casino Del Sol Resort Achieves 4-Star Rating

Casino Del Sol Resort, an enterprise of the Pascua Yaqui Tribe, was recently named to the prestigious Forbes Travel Guide Star Rating List. Recognized for exceptional service and amenities, it is the only casino resort in the state of Arizona to receive the coveted four-star rating.

The overall property was awarded, as well as Hiapsi, the luxurious spa retreat offering treatments inspired by Native American healing rituals, and PY Steakhouse, Casino Del Sol Resort’s contemporary, fine-dining restaurant. The 2014 Forbes four-star rating is the latest addition to the property’s list of accolades. Garnering numerous national and local recognitions, Casino Del Sol Resort is also a AAA Four Diamond recipient, and 2012 and 2013 Wine Spectator Award of Excellence winner for PY Steakhouse.

“Achieving this honor is a remarkable accomplishment for Casino Del Sol Resort. It is a testament to the countless contributions of our dedicated and passionate team members, and would not be possible without them, the Pascua Yaqui Tribe and the guests of our award-winning casino resort,” said Jim Burns, CEO of Casino Del Sol Resort.

Since 1958, Forbes Travel Guide ratings have been the gold standard of luxury travel. The requirements are the most stringent in the industry with more than 500 criteria evaluated to determine a star rating.

“Our Star Ratings recognize the finest hotels, restaurants and spas in the world. These ratings serve as guideposts for consumers seeking exceptional travel experiences, and our primary mission is to serve the consumer,” said Michael Cascone, President of Forbes Travel Guide. “We’re proud to be associated with the new additions to our global list.”

For a detailed explanation of how Forbes Travel Guide compiles its star ratings and to view the complete list of 2014 winners, visit www.forbestravelguide.com.

For more information about Casino Del Sol Resort or to book a reservation, visit www.CasinoDelSolResort.com.

awards

Industry Leaders of Arizona take spotlight

Az Business magazine is proud to present the Industry Leaders of Arizona (ILoA) Awards, which recognize  the contributions and impact of Arizona‐based companies in five key industries — commercial real estate, education, entertainment, manufacturing and technology. The 30 finalists for this year’s ILoA Awards are profiled on the following pages. Winners will be recognized at the awards dinner that will be held Thursday, February 6 at The Ritz Carlton, Phoenix.

Arizona Diamondbacks
Leadership: Derrick Hall, CEO; Tom Harris, CFO
Address: 401 E. Jefferson St., Phoenix
Website: dbacks.com
What they do: The Diamondbacks strive to provide industry-leading entertainment in a family-friendly environment while making a positive impact on its fans and civic partners.
How they lead: The team offers the lowest Fan Cost Index in Major League Baseball. In the community, the Arizona Diamondbacks Foundation and the D-backs’ organization have surpassed the $33 million mark in charitable giving since their inception in 1998. The unique corporate culture of the D-backs led Yahoo! to deem the club as “the best workplace in sports.”

Arizona Summit Law School
Leadership: Scott Thompson, president; Shirley Mays, dean
Address: One N. Central Ave., Phoenix
Website: azsummitlaw.edu
What they do: The American Bar Association (ABA) accredited law school offers traditional and non-traditional law students the opportunity to succeed through its student-focused curriculum and highly engaged faculty.
How they lead: The practice-ready curriculum equips graduates with the practical skills and ethical instruction, leadership, management and interpersonal skills necessary for career success. The school accommodates students’ diverse needs with options including full-time and part-time day and evening classes; trimester schedule for graduation in two years; and individualized bar-pass instruction through learning diagnostics and mentoring; and experiential learning opportunities via externships, internships and clinics.

Caliente Construction Inc
Leadership: Lorraine Bergman, CEO
Address: 242 S. El Dorado Circle, Mesa
Website: calienteconstruction.com
What they do: Caliente, founded in Arizona in 1991, is a female-owned commercial general contractor that provides construction management services tailored to meet the distinctive needs of its diverse clientele.
How they lead: By embracing the latest technology, Caliente is known as the contractor who can meet the challenge of any type of construction project. This has strengthened its industry position and given Caliente a competitive edge. Caliente has also shown continued growth.  In 2006, revenues were $23,500,000 with 30 employees. Today, revenues exceed $57,000,000 and Caliente employs 81.

Casino Del Sol Resort, Spa and Conference Center
Leadership: Jim Burns, CEO
Address: 5655 W. Valencia Rd., Tucson
Website: casinodelsol.com
What they do: Casino Del Sol Resort encompasses a spa, conference center, five award-winning restaurants, Sewailo Golf Course, Anselmo Valencia Tori Ampitheater, a 5,000-seat open-air concert venue and the Del Sol Marketplace, which includes a gas sttation, car wash, convenience store and smoke shop.
How they lead: In less than two years since opening its $100 million expansion, Casino Del Sol has earned a AAA Four Diamond designation and is the state’s only casino resort to earn the coveted Forbes Four-Star Award for its hotel and spa.

Entrepix, Inc.
Leadership: Tim Tobin, CEO; David Husband, CFO
Address: 4717 E. Hilton Ave., #200, Phoenix
Website: entrepix.com
What they do: Entrepix re-manufactures semiconductor fabrication equipment and develops products and services to significantly extend the lifespan of semiconductor manufacturing technology.
How they lead: Entrepix’ is defining a new class of supplier to the semiconductor industry —  a “technology renewal partner” — and has become the third-party leader in this space.  It launched the first ever foundry process center supporting remanufactured equipment.  The company was spotlighted for this on the cover of the industry’s largest publication, Semiconductor International, whose cover is normally occupied by game-changing innovations from companies such as Intel and Applied Materials.

FlipChip International
Leadership: David Wilkie, CEO; Gordon Parnell, CFO
Address: 3701 E. University Dr., Phoenix
Website: flipchip.com
What they do: FlipChip International is a leading supplier of wafer level packaging technologies to a diverse global customer base in the semiconductor industry.
How they lead: FlipChip was founded in 1996 by industry leaders in automotive technology and semiconductor integrated circuit assembly. Their strategy was primarily developing and licensing the technology. After new owners took over in 2004, manufacturing was expanded and new technologies were introduced. Today, FlipChip’s technologies can be found in a wide range of products in consumer, medical, industrial and automotive applications.

FNF Construction, Inc.
Leadership: Jed S. Billings, CEO; David James, CFO
Address: 115 S. 48th St., Tempe
Website: fnfinc.com
What they do: FNF provides heavy-highway construction and general engineering work, both as a general contractor, subcontractor and manufacturer/producer of aggregate and asphalt rubber binder.
How they lead: FNF’s ability to self-perform much of the work on its contracts allows the company to better manage and support its subcontractors and keep projects on schedule.  FNF supports its personnel with state-of-the-art equipment and in-house technical support which keep its workers safe and guides and educates employees on FNF’s innovative construction methods.

GlobalTranz
Leadership: Andrew Leto, CEO; Greg Roeper, CFO
Address: 5415 E. High St., #460, Phoenix
Website: globaltranz.com
What they do: GlobalTranz is a privately held, Phoenix-based logistics company specializing in freight management services, including less-than-truckload shipping, full truckload, supply chain management and domestic air/expedited shipping.
How they lead: By focusing on innovative technology, GlobalTranz optimizes the flow and storage of merchandise as the goods move within and throughout the customers’ supply chain. GlobalTranz has been recongnized as one of the fastest-growing companies in the country with annual sales of over $200 million. Globaltranz has doubled its revenue every year since its inception in 2003.

Grand Canyon University
Leadership: Brian Mueller, president and CEO; Dan Bachus, CFO
Address: 3300 W. Camelback Rd., Phoenix
Website: gcu.edu
What they do: GCU is a private Christian university that has graduated some of the Southwest’s best-prepared teachers, nurses and fine arts professionals.
How they lead: What was once a small, struggling university has come into its own as a world-class liberal arts institution. When escalating tuition made higher education nearly impossible for some students, GCU built a financial model that made earning a degree attainable and affordable. The model does not rely on taxpayer subsidies, yet keeps costs about two-thirds less than most private universities and lower than many public schools.

Great Hearts Academies
Leadership: Daniel Scoggin, CEO; Ward Huseth, CFO
Address: 3102 N. 56th St., #300, Phoenix
Website: greatheartsaz.org
What they do: Great Hearts Academies is a non-profit network of public charter schools dedicated to improving education in the Phoenix metropolitan area by developing a network of excelling preparatory academies.
How they lead: Great Hearts Academies has a 95 percent college placement rate, including many prestigious colleges and universities around the country. Students have an average SAT score of 1836 and ACT score of 27.4, which is 20 percent above the national average and higher than many private schools.

IDentity Theft 911
Leadership: Matt Cullina, CEO; Sean Daly, CFO
Address: 7580 N. Dobson Rd., Scottsdale
Website: idt911.com
What they do: IDentity Theft 911 is a provider of identity management solutions, identity theft recovery services, breach services and data risk management solutions. The company works with insurance carriers to provide identity theft services to individual personal lines policyholders and crisis data-breach services for commercial insurance policyholders.
How they lead: Founded in 2003, IDentity Theft 911 is a premier consultative provider of identity and data risk management, resolution and education services. The company serves 17.5 million households across the country and provides fraud solutions for a range of organizations.

Integrate
Leadership: Hart Cunningham, CEO; David Tomizuka, CFO
Address: 4900 N. Scottsdale Rd., #4000, Scottsdale
Website: integrate.com
What they do: Integrate is the first closed-loop marketing technology platform—combining ad-serving tech and analytics, a paid media marketplace and full suite of marketing services.
How they lead: Integrate is the first closed-loop marketing technology provider to empower marketers and media buyers to plan, launch, analyze and optimize campaigns across performance, programmatic and traditional media. The Integrate AdHQ platform offers an end-to-end solution that supports the entire lifecycle of paid media campaigns in one intuitive dashboard.

Ipro Tech, Inc.
Leadership: Kim Taylor, president and COO; Bret Lawson, CFO
Address: 6811 E. Mayo Blvd., #350, Phoenix
Website: iprotech.com
What they do: Founded in 1989, Ipro is a global leader in the development of advanced software solutions used by legal professionals to streamline the electronic discovery process.
How they lead: Ipro pioneered the development of electronic discovery technology in 1989, when savings and loan scandals led to an abundance of paper documents needing immediate legal review. Ipro developed customized technology that greatly improved the process and speed in which litigation document collections could be produced and helped to establish the litigation technology industry as we know it today.

Jokake Construction Services, Inc.
Leadership: Casey Cartier, CEO; Dave Miller, CFO
Address: 5013 E. Washington St., #100, Phoenix
Website: jokake.com
What they do: Jokake is a full-service real estate solutions provider founded on delivering exceptional construction experiences through ground-up, renovation and tenant improvement construction for public and private clients.
How they lead: In June, Jokake launched its 30th anniversary celebration with a commitment to complete 30 community service projects in 12 months — one project for each year in business. Since the initial announcement, Jokake’s employees have advocated for great causes, most of which are with nonprofits that they have been personally invested in for many years.

Laser Options, LLC
Leadership: Jeffrey Masters, CEO
Address: 3758 E. Grove St., Phoenix
Website: laseroptions.com
What they do: Laser Options sells new and refurbished multi-function printers/copiers, provides managed print services to its clients and is a leading re-manufacturer of laser print cartridges.
How they lead: Since starting in 1993 as a re-manufacturer of laser printer cartridges and HP printer service, Laser Options has transformed itself into a full-service business technology organization. Since inception, Laser Options has put into place sustainability practices. Whether it is its manufacturing and recycling process, the cars it uses or the vendors it partners with, customers know they are “going green.”

MicroAge
Leadership: Jeff McKeever, CEO; Roger Rouse, CFO
Address: 8160 S. Hardy Dr., Tempe
Website: microage.com
What they do: MicroAge is a leading provider of technology products and services. They serve customers from the data center to the desktop with computer products from industry-leading manufacturers.
How they lead: MicroAge’s tech-savvy account executives are experts at assisting clients with selecting information technology solutions that best meet their unique requirements. MicroAge possesses a vast sourcing capability which enables us to deliver on the most challenging of procurement requests.  MicroAge continues to be a well-known name and a respected industry pioneer with a heritage of industry innovation spanning five decades.

Microchip Technology, Inc.
Leadership: Steve Sanghi, CEO; Eric Bjornholt , CFO
Address: 2355 W. Chandler Blvd., Chandler
Website: microchip.com
What they do: Microchip Technology Inc. is a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions for thousands of diverse applications worldwide.
How they lead: Microchip is the semiconductor industry’s greatest Cinderella Story, having come a long way since its humble beginnings as a failing spinoff of General Instrument in 1989. Over that time, Microchip has had the most successful IPO of 1993, achieved the No. 1 ranking in 8-bit microcontrollers in 2002 and recorded its 91st consecutive quarter of profitability in June 2013.

Mountainside Fitness
Leadership: Tom Hatten, president; William Malkovich, CEO; Tracy Taylor, CFO
Address: 1230 W. Washington St., #111, Tempe
Website: mountainsidefitness.com
What they do: Mountainside Fitness is the largest locally owned health club in Arizona, striving to help its members incorporate exercise into their lifestyle.
How they lead: With 10 locations, including the newest location inside Chase Field, the fitness center provides more than 950 jobs. The company has experienced a 41 percent growth within the last three years, including employee growth of approximately 400. The expansion placed Mountainside among the recipients of the 2012 Inc. Hire Power Awards as one of the Top 10 private business job creators in the state of Arizona.

Phoenix Children’s Academy
Leadership: Doug MacKay, CEO; Paul Malek, CFO
Address: 8767 E. Via de Ventura, #240, Scottsdale
Website: pcafamilyofschools.com
What they do: Phoenix Children’s Academy operates a national network of 111 private schools, including preschools, elementary schools and middle schools in 15 states serving approximately 16,000 students.
How they lead: PCA is the sixth-largest company in its industry in the U.S. and the largest headquartered in Arizona. By developing centralized support functions to take the majority of the administrative burden away from its schools, PCA teachers and principals have more time to spend with children and parents. This has enabled PCA to tailor its educational services to the individual needs of the child.

Phoenix Suns
Leadership: Jason Rowley, president; Jim Pitman, CFO
Address: 201 E. Jefferson St., Phoenix
Website: suns.com
What they do: The Suns provide the finest in Arizona sports, entertainment and community leadership by striving to create sustained success on and off the court.
How they lead: Between offering a first-rate fan experience, giving back to Arizona children and families in need, and staying at the forefront of technology and innovation, the Suns have served as Arizona’s professional sports leader since our 1968 inception. Each year, Suns players and alumni make more than 1,000 community appearances and the Phoenix Suns Charities contributes more than $1 million annually to more than 125 local nonprofit organizations.

Rigid Industries LED Lighting
Leadership: Jason Christiansen, CEO; Seth Anderson, CFO
Address: 779 N. Colorado St., Gilbert
Website: rigidindustries.com
What they do: Rigid Industries’ patented Hybrid and Specter optics and forward projecting LED lighting and quality products are designed, engineered, and assembled in the United States.
How they lead: Rigid Industries recently ranked 150th on Inc. 500 magazines’ Fastest Growing Companies list for 2013. Additionally, Rigid leads the industry as the fastest-growing LED lighting manufacturer and the fifth-fastest-growing in overall manufacturing in the U.S., proving to be one of the most innovative companies of 2013. From 2009-2012, Rigid experienced an exponential growth rate of 2,528 percent.

Scottsdale Golf Group
Leadership: Shelby Futch, CEO
Address: 6210 E. McKellips Rd., Mesa
Website: scottsdalegolfgroup.com
What they do: Scottsdale Golf Group owns and manages four public and three private golf courses. Futch founded the John Jacobs Golf Schools and Academies, with 12 locations across the USA and Canadian locations coming soon. John Jacobs Golf Schools and Academies is one of the oldest continuous  golf schools in the U.S. with more than 500,000 students instructed.
How they lead: Scottsdale Golf Group’s state-of-the-art teaching facilities utilize the finest computerized swing analysis equipment. Under the guidance of golf industry expert Futch, Scottsdale Golf Group has grown from the undisputed leader in golf instruction to become a master of club operations, management, and consumer marketing services as well.

Speedie & Associates, Inc.
Leadership: Gregg A. Creaser, CEO; Brett P. Creaser, CFO
Address: 3331 E. Wood St., Phoenix
Website: speedie.net
What they do: Speedie & Associates is a consulting engineering firm that specializes in geotechnical, environmental and construction materials testing and special structural inspection services.
How they lead: From its inception 33 years ago, Speedie & Associates has embraced and maintained a philosophy of providing a superior level of customer service to every one of its clients. The firm believes that listening to its clients, hearing the essence of what they’re saying, and fully understanding their expectations are the most important first steps in providing a superior service experience.

STORE Capital
Leadership: Morton H. Fleischer, chairman; Christopher H. Volk, president and CEO; Catherine Long, CFO
Address: 8501 E Princess Dr, Scottsdale
Website: storecapital.com
What they do: STORE Capital (the name stands for Single Tenant Operational Real Estate) is a leading provider of real estate lease capital for real estate intensive middle-market companies.
How they lead: STORE acquires customers’ commercial real estate they use to generate their profits and lease it back to them in a sale/leaseback transaction.  A real estate lease is not just a debt financing substitute for customers, but it’s both a debt and equity substitute, while also offering reduced monthly payments. This makes them less bank-dependent and more entrepreneurial, creating more efficient capitalization.

Sun Orchard™ Juicery
Leadership: Marc Isaacs, CEO; Jeff Anthony, CFO
Address: 1198 W. Fairmont Dr., Tempe
Website: SunOrchard.com
What they do: Sun Orchard™ is a national craft juice company offering an unmatched selection of exceptional juice products to food service businesses of all shapes and sizes.
How they lead: Sun Orchard built its business on freshness, taste, quality, people and being one step ahead. Sun Orchard’s family of experts’ tree-to-table mastery allows it to quickly turn emerging trends into cutting-edge juice products, giving its customers a quick-to-menu advantage and back-of-house efficiencies. Sun Orchard continues to work closely with its customers to help grow their businesses.

Synergis Education, Inc.
Leadership: Norm Allgood, CEO; Scott Wenhold, CFO
Address: 1820 E Ray Rd., Chandler
Website: synergiseducation.com
What they do: Synergis Education is a premium, full-service provider of educational services designed for college and university leaders who are not satisfied with the status quo.
How they lead: Synergis Education assists its partner institutions in gaining regional prominence, enrollment growth, and overall sustainability through continual improvement and best practices. Synergis is unique among education services providers in that it is positioned to work with the entire adult higher education market, remaining agnostic as to the delivery methods (online, face-to-face, blended, etc.).

University of Advancing Technology
Leadership: Jason Pistillo, CEO; Erika Garney, CFO
Address: 2625 W. Baseline Rd., Tempe
Website: uat.edu
What they do: University of Advancing Technology (UAT) is the technophile’s college experience — a community uniquely suited to provide students passionate about technology an ideal place to live and grow.
How they lead: UAT students graduate to become technological mavens, cyber warriors, elite game designers and advanced computer scientists. The university’s commitment extends far beyond its student body. UAT hosts a myriad of on-campus events, including the annual Avnet Tech Games, The Leonardo da Vinci Society for the Study of Thinking and many other various user groups.

WebPT
Leadership: Brad Jannenga, chairman, president and CTO; Paul Winandy, CEO; Jacob Findlay, CFO
Address: 605 E. Grant St., #200, Phoenix
Website: webpt.com
What they do: WebPT is the leading web-based electronic medical record (EMR) and practice management solution for physical therapists, occupational therapists, and speech-language pathologists.
How they lead: By creating an affordable, intuitive, and technologically sound cloud-based electronic EMR solution for rehabilitation therapists — practitioners excluded from the government’s meaningful use incentive under the HITECH Act — WebPT brought all the benefits of EMR to small, private therapy practices that would have otherwise fallen behind. WebPT has helped more than 24,000 therapists adopt EMR since 2008.

Wespac Construction, Inc.
Leadership: John Largay, CEO; Don Mann, CFO
Address: 9440 N. 26th St., #100, Phoenix
Website: wespacaz.com
What they do: Wespac is a commercial general contracting and construction management firm, offering a range of pre-construction and construction services in a variety of market sectors.
How they lead: Wespac has developed a specific system of project management tools to successfully complete the job. This comprehensive process is Wespac’s Systematic Building Approach™ (SBA™). The SBA™ is Wespac’s process to ensure constant communication, dedication, coordination and planning. Utilizing the SBA™, the team is able to ensure timely procurement of materials and equipment, keeping the build-out on track.

Wilson Electric Services Corp.
Leadership: Wes McClure, president; Todd Klimas, COO; Terry Oakes, CFO
Address: 600 E. Gilbert Dr., Tempe
Website: wilsonelectric.net
What they do: Wilson Electric is the Southwest’s leading, single-source provider of total facility solutions, including commercial construction, solar, and operations technology.
How they lead: Wilson Electric invests in each employee-owner’s success through a rigorous, in-depth corporate training program. The program begins with new hire orientation and continues throughout employment, blending in-house resources with industry experts. Topics range from effective project management and safety procedures to manufacturer certifications. Because of this, Wilson’s safety record is one of the best in the state.

Talking Stick Resort’s hotel tower.

Top 5: Casino Resort Destinations (Fall-Winter 2012)

The Top 5 Casino Resort Destinations — as voted on by Experience AZ readers:

The Radisson Fort McDowell Resort

10438 N. Fort McDowell Rd.,
Scottsdale, AZ 85264
(480) 789-5300
radissonfortmcdowellresort.com
A four-diamond Scottsdale resort that won Radisson brand’s “Hotel of the Year” award in 2008, the Radisson Fort McDowell Resort offers a casino, golf course, restaurant, pool, spa, free Wi-Fi and specials.


Talking Stick Resort

9800 E. Indian Bend Rd.,
Scottsdale, AZ 85256
(480) 850-7777
casinoarizona.com
A distinct resort and entertainment destination in Scottsdale, Talking Stick Resort offers luxuries such as a rejuvenating open-air spa, eight world-class restaurants, 10 entertainment lounges, a lively 240,000-square-foot gaming floor, and two pools.


Wild Horse Pass Hotel & Casino

5040 Wild Horse Pass Blvd.,
Chandler, AZ 85226
(800) WIN-GILA (946-4452)
wingilariver.com
Home to 1,200 slots with live poker and blackjack, a 1,500-seat concert venue, 250-room hotel, gift shop and great dining experiences, including Shula’s Steak House.


Casino Del Sol Resort

5655 W. Valencia Rd.,
Tucson, AZ 85757
(800) 344-9435
casinodelsol.com
Mediterranean architecture surrounds the gaming space, featuring 1,000 nickel, quarter, $1, $5 and multi-denominational slot machines. The $100-million resort, with luxury rooms and suites, has two new restaurants, a spa and 20,000 square feet of meeting space.


Apache Gold Casino Resort

Hwy. 70, 5 miles east of Globe,
San Carlos, AZ 85550
(800) 272-2438
apachegoldcasinoresort.com
On-site Apache Gold Casino Resort is a 146-room hotel with an 18-hole championship golf course, convention center, nearby fishing and sightseeing.

Experience AZ Fall-Winter 2012

 

2012 Annual Economic Outlook

Industry Experts' Forecast On 2012 Economy

Recovery is on the horizon, but industry experts are cautious in their forecast as the 2012 economy slowly bounces back. 

Looking at Arizona’s recession-starved commercial real estate industry as a whole, 2011 was flat and 2012 is trending just slightly better. So say local experts.

But broken down into its various components, there is a wide divergence of attitude and optimism for the rest of this year.

AZRE tapped key players from a variety of real estate-related disciplines to check their crystal balls and predict whether commercial real estate will soar, slump or stagnate in 2012, and what factors could turn the tide.

Investment
A plethora of CMBS properties will come due in 2012, and private owners of distressed properties may be more willing to sell, says Jennifer Pescatore, who oversees commercial real estate loans for Bank of Arizona.

There is plenty of money available for the right property in the right submarket and investors with the right credentials, she says.

But except for the multi-family sector and some industrial opportunities, Pescatore isn’t sure values have slipped enough to generate a significant number of sales or new development in 2012.

She’s anticipating relatively small loans — $2M to $15M — on income properties as standard 2012 fare.

But substantial job growth and improvement in the global economic picture could change that relatively pessimistic outlook, says Ryan Suchala, Bank of Arizona president.

“Arizona offers a unique opportunity, and it’s a great place to do business,” Suchala says.

This year could be better than expected, Suchala notes, but for measurable improvement in real estate values and transactions, 2013 is a more realistic time frame.

Economic development
Economic development directors by nature are always upbeat about the future, and Chandler’s Christine Mackay has reason to be.

“Activity level since the first of the year has gone through the roof,” she says.

Intel is constructing a new fabrication plant scheduled for completion in 2013 but already keeping a virtual army of construction workers busy. And when Intel ramps up, so do the tech giant’s customers and clients, Mackay adds.

Other healthy growth signals: EBay/PayPal is expanding, building out the fourth floor of its Chandler facility.

In January, San Diego-based developer Doug Allred Company broke ground at the NEC of Price and Willis roads in Chandler for Park Place, the Valley’s first spec office complex to rise from the dust of the recession since 2009.

Phoenix has a lot more old office properties to fill up before any spec projects are likely to appear on its planning agenda, but virtually all the big warehousing/distribution center space has been snapped up, and the city is actively looking for “shovel ready” spots where developers can build more, says Bruce MacTurk, deputy director for economic development.

It’s a good news-bad news scenario, he says.

By mid-January, five large industrial users were looking at Phoenix, but the city had only two buildings with more than 500,000 SF of space available.

There’s even some good news about Phoenix’s languishing retail centers as owners are renovating to reposition the sites, MacTurk says.

While economic development leaders like MacTurk and Mackay are focused on job creation, the fallout from job growth is a healthier, more vibrant residential and commercial real estate scenario, they say.

Construction
“Compared to this time last year, it feels much better,” says Bo Calbert, McCarthy Building Cos. Southwest president. “There are a lot more opportunities to pursue.”

McCarthy’s revenue is up 10%, he says. Key drivers for that spike are healthcare, renewable energy, schools and Native American projects, especially in hospitality and gaming.

But Calbert says he believes there is “more pain to come” before Arizona’s construction industry is back on a solid uphill track.

“To be an Arizona-only contractor is not sustainable,” he says. “There is promise, and more opportunities are coming, but not enough.”

D.P. Electric vice president Scott Muller says he has a backlog of healthcare and military projects to keep workers busy in 2012 — primarily technology upgrades.

And the company is detecting more interest from local property owners and developers, some hoping to entice California data centers and manufacturing operations ready to make a move.

“We’re excited about 2012,” Muller says.

“Those in the real estate and construction industry understand that the current market, compared to three or four years ago, has created a great opportunity to build, move or expand at a significant cost savings,” he says. “In 2012, we’ve seen an increase in our Design-Build/Design-Assist projects because this is where the best value is brought to the owner/developer.”

Architecture
Data centers, specialized healthcare facilities and military installations are also on Mike Medici’s 2012 hot list.

“Technology is constantly pushing the limits of existing buildings,” says Medici, managing director of SmithGroupJJR Arizona Architects. “And a lot of hospitals are positioning for the future or catching up from the past.”

Architects are tapped for new projects at the conceptualizing stage, and Medici sees good news coming for all commercial real estate sectors, even if the bounty won’t happen in 2012.

“We are seeing several developers looking at mixed-use office/retail/multi-family, especially along the light rail line,” he says. “It’s not as much activity as in 2004, 2005 and 2006, but there are opportunities bubbling up. For two years previously developers were not talking to us. Now modestly they are coming out of the woodwork.”

LEO A DALY architectural firm just completed the Casino Del Sol Resort in Tucson and is currently working on a project with Davis-Monthan Air Force base, says senior architect Rod Armstrong.

There is no pent-up demand for shopping centers or new office buildings, Armstrong says, but the international architecture firm is “always in business development mode,” and the signs are positive.

“We feel the increased level of commitment with potential clients. People are loosening up, and things will happen quickly. We’re hopeful for 2012,” he says.

Multi-family
While interest in and financing for new development remains limited in Metro Phoenix, one sector finding favor is multi-family, fueled by a limited supply and the single-family housing market collapse, says Tom Simplot, Arizona Multihousing Association president.

“Apartment owners are cautiously optimistic due to a rebound in values and rents,” Simplot says.

He doesn’t envision a lot more product coming online in 2012, but in select markets — in Scottsdale, Ahwatukee, and along the light rail line — some projects are moving forward and could be under construction this year and available by 2013.

Luxury condo developer Optima is betting Scottsdale is ready for more downtown-living opportunities.

“Optima Sonoran Village is in an advantageous position because it is the first new residential development in several years and builds on the economic, architecture, and marketing success of Optima Camelview Village,” says David Hovey Jr., Optima vice president. “Construction has started on Optima Sonoran Village with occupancy second quarter of 2013.”

Hovey says financing is still tight and mixed-use projects are iffy because of existing over-supply of office and retail components, but, if there is “only a gradual increase in new product over the next few years, the luxury unit market will remain healthy.”

Healthcare
Medical facilities needing upgrades or expansions to keep up with changing technologies, aging baby boomer needs and unsettled health coverage issues, are providing work for local real estate trades — a trend that will continue throughout 2012.

Cancer- and pediatric-focused projects are already in progress, as are several clinics and rehabilitation centers aimed at bringing cost-effective healthcare into communities, says Sundt Construction’s Russ Korcuska, who has been piloting hospital construction projects in Arizona for two decades.

Still, some of the big players will “sit on the sidelines until the (November) election because of the tremendous effect that could have on healthcare and Medicare. The new congress will be pivotal,” Korcuska says.

Some upgrades can’t wait.

“Healthcare construction is tied to population, and there is a great need to accommodate the baby boomer generation,” says Steve Whitworth, Kitchell’s Healthcare Division manager.

Healthcare construction will see a “slight increase in 2012, as larger organizations prepare for healthcare reform,” he says.

Whitworth predicts a sharper focus on cost-cutting delivery methods and energy efficiency in 2012 both in new development and upgrades to existing facilities.

“Healthcare will remain healthy,” he says.

Solar
Solar power was Arizona’s red-hot growth topic a year ago, with government leaders proffering incentives and touting the state’s virtues to the clean-energy companies looking for a place to grow and prosper.

Then mid-year, solar panel makers Solyndra and Stirling Energy Systems failed, and in December industry giant First Solar said it would slow progress of its under-construction Mesa plant.

So how do some of the state’s solar experts envision their industry’s 2012 prospects?

SRP sees strong demand for solar upgrades in both commercial and residential uses even though it “slowed somewhat” from 2011 when monetary inducements were greater, says Debbie Kimberly, director of customer programs and marketing.

“It’s encouraging to see this demand even at reduced incentive levels,” Kimberly says.

She says she expects interest in solar to continue apace throughout 2012, especially in leased rather than purchased systems.

And APS’ 2012 outlook for solar is “overwhelmingly positive” based on continued strong customer demand, says Barbara Lockwood, the utility company’s director of energy innovation.

“We asked our customers,” she notes. “The customers want solar.”

Installers could second that.

“Our forecast is 100 percent growth over last year,” says Gary Held, Harmon Solar sales and marketing manager. “And last year was the biggest year we ever had on the commercial side.”

But that’s from the perspective of the companies that purchase and distribute solar energy.

While solar demand remains strong, supply is growing faster as solar producers and manufacturers ramp up, boosting competition and sending prices plummeting, Lockwood says.

The growing global glut in solar manufacturers is squeezing the industry from that perspective, she says, as evident by First Solar’s slowdown and some companies folding.

Lockwood predicts prices will stabilize in 2012, and solar supply and demand will reach equilibrium.

Brokerage
Nobody has a handle on the intricacies of the local commercial real estate industry like the brokers who buy, sell, market and lease properties. Their outlook for 2012 is guardedly upbeat, depending on the type of property and its location.

Phoenix’s overbuilt office market remains too over-supplied for new development, says Craig Henig, CBRE senior managing director.

In 2011, 1.8 MSF of office space was absorbed, dropping the vacancy rate to 25.5%, Henig adds.

And overall there was 5.9 MSF of “gross activity,” as plummeting rents prompted tenants to move to classier digs.

Most of the Valley’s Class A offices filled up in 2011, and Class B and C space could see an occupancy boost in 2012, whittling away at the surplus supply, says Chris Jantz, Cassidy Turley/BRE Commercial vice president of research.

But neither Henig or Jantz envision a big drop in overall office vacancy this year.

Empty industrial space was gobbled up in 2011, and that could spur development, Jantz says, but new properties likely won’t come online until 2013.

Retail real estate has been the big laggard throughout the recession, and while Henig doesn’t expect much overall absorption in 2012, he foresees “musical chairs” as retailers reexamine their footprints based on recent consumer trends. For example, the surge in online sales may result in smaller, or at least different, brick-and-mortar space usage and bigger warehousing needs.

Henig also predicts that Phoenix area retailers will take advantage of still-sinking rents to move into better locations in 2012.

Tucson’s prospects are rosy.

“All signals are pointing up for Tucson in 2012,” says CBRE Tucson managing director Tim Prouty. “Our vacancies have improved. We see a positive absorption in industrial certainly, office probably, and some improvement in retail as well.”

A recent University of Arizona study predicting 2.35% average job growth in Tucson for the next five years — a boost of more than 52,000 jobs overall — is nurturing Prouty’s confidence.

And Tucson’s successful wooing of biotech businesses, such as Roche Group’s planned major expansion, “will be a big story in 2012,” Prouty says.

Land
After bottoming in 2009, land sales nationally picked up modestly in 2012 and remained level in 2011, according to Grubb & Ellis.

Through 3Q 2011, land sales were just about even with the same period in 2012 at $13.6B, but the sales mix was different. Through 3Q 2011, industrial land sales were up 133% as the industrial leasing and user-sale market improved to the point where developers began ramping up for the next expansion cycle.

In 2012, according to Grubb & Ellis, expect a modest increase inland sales led by development sites for multi-family projects and distribution centers, which are further along the recovery cycle.

Key concerns
While all the players envision a slight, if spotty, up tick in Arizona’s commercial real estate market, they say job growth and the global economy are key concerns determining 2012′s prospects.

A couple of local legislative issues also factor into the mix, says Nick Wood of Snell & Wilmer.

Tax assessments paid in arrears for commercial structures built in the mid-2000s that experienced severely plunging values in recent years could hamper sales and renovations of languishing real estate, Wood says.

“If you look at values for 2007, some offices have lost 60% to 70% of their value, and there hasn’t been a corresponding reduction in taxes,” Wood says.

And recent revisions to government property lease excise tax (GPLET) rates for new commercial structures can act as a deterrent to economic development, especially in downtown areas, he says.

AZRE Magazine March/April 2012