Tag Archives: David Wetta


Redevelopment to bring two new restaurants to Phoenix

Wetta Ventures has purchased a retail building on the southeast corner of Indian School Road and 28th Street in Phoenix, which will be leased by two restaurants as part of an adaptive reuse project.

Originally built in the late 1950s, Maple House Furniture currently occupies the 11,000 square-foot building that will be creatively redeveloped and renovated resulting in two 3,500 square-foot freestanding restaurants. Renovation is slated to begin in February with tenant turnover by June and openings in October of 2016.

“From State Route 51 to 44th Street, Indian School Road is on fire with redevelopment activity,” said David Wetta, founder of Wetta Ventures. “It’s exciting to be part of the continued evolution of this area. There are numerous multi-family and commercial developments in the works along Indian School including Evergreen’s Park 28 luxury, multi-family community at 28th Street and De Rito Partners’ redevelopment of Arcadia Fiesta at 32nd Street.”

Wetta Ventures is currently seeking prospective restaurant tenants that desire unique spaces in their own freestanding buildings. Michael Rumpeltin of Brick & West Design is leading the architectural design of the project. Ryan Leavitt of DTZ Retail represented the seller and Brad Douglass, also with DTZ Retail, represented the buyer. DTZ Retail was also awarded the leasing assignment.

“The project is far more than a typical renovation to an existing building,” said Michael Rumpeltin of Brick & West Design. “With this design, we are removing a portion of the existing structure both to create two stand-alone buildings, and provide vehicular access to a large parking field at the rear of the site. The two resulting freestanding buildings will each have their own distinct identity, large outdoor dining spaces that face north and incredible visibility from Indian School Road.”

Wetta Ventures is responsible for the successful redevelopment of many high-profile restaurant and retail projects in the Valley. The company recently announced plans for two upcoming projects including CB20 along the Camelback Corridor in Phoenix, a creative retail and office space, and a $5 million, multiple-restaurant building at SkySong in Scottsdale. Last fall, Wetta Ventures opened the Annex (615 S. College) in Tempe as part of a public-private venture with ASU that houses Postino Winecafe and Snooze, an AM Eatery. Also last year, Wetta Ventures made headlines with the development and sale of its adaptive reuse project, Old School O7 for a record price-per-square-foot. Old School O7, located at the corner of Osborn Road and Seventh Street in Phoenix, is home to Taco Guild, retailer Buffalo Exchange and Starbucks.

Innovation Challenge

ASU Announces Innovation Challenge Winners

On Monday February 13, the winners for Arizona State University’s Innovation Challenge were announced.


The ASU Student Innovation Challenge is a program designed to give undergraduate and graduate students an opportunity to make a difference through social innovation. The awarded grant prize will be used as seed money to propel their ideas into social ventures aimed at solving global problems.

Of 188 teams and more than 500 ASU student applicants from all disciplines, 30 team finalists were selected to participate in a pitch event and were given a five-minute presentation in front of a judging panel to present their ideas. Of those finalists, nine student-led teams were selected to receive grants up to $10,000, announced by Howard Cabot, partner at Perkins Coie, a major sponsor of this year’s grand prize.

“We were looking for an opportunity to invest in the innovators of tomorrow, ASU just happened to be doing exactly what we wanted to support,” said Howard Cabot.

Of the nine finalists receiving grant money, the grand prize winner of the event was given to Vern Wolfey and his team for their idea Applyforall, a for profit website that brings those looking for a new credit card together with the card insurers. Applyforall’s new innovative method provides a service currently unavailable to consumers.

“We couldn’t be more excited about being chosen as the grand prize winners of the ASU Innovation Challenge,” said Wolfley.  “As a family based team, we have been working on this for quite some time and feel that we can finally move this further as a result of our award.”

Other big winners of the event included returning Innovation Challenge winner Peter Seymour from Seymour Enterprise who received a $5,000 grant to continue his work designing a low cost respiratory monitor designed for infants with an elevated risk of Sudden Infant Death Syndrome.

“The Innovation Challenge truly served as the launching point for Seymour Enterprises last year,” said Seymour.  “I had an exciting new idea about a medical sensor, but no real concept of how to go about starting a business or turning that idea into reality. After 12 months of truly innovative work I can confidently say that all of our progress stems from this first validation. In the end that is what the Innovation Challenge is really about.”

More winning teams included a portable water purification system for developing countries, a personal development program, modernizing the mechanical wheelchair and the conversion of steel shipping containers into low-cost, modular and mobile medical clinics.

This third annual Innovation Challenge was made possible by a generous grant from Perkin Coie Law Firm and the Ewing Marion Kaufmann Foundation in Kansas City. Additionally, support for the challenge also came from James Culver, John Dorsey, Jonathan Pinkus and David Wetta.

For more information on the Arizona State University Innovation Challenge visit innovationchallenge.asu.edu