Tag Archives: Jim Cavanaugh

The Offices at Reems.

Sperry Van Ness Represents the Seller in a 16-Unit Office Condo Portfolio Sale in Surprise

Justin Horwitz, Nicole Ridberg and Neil Sherman of Sperry Van Ness, LLC, in Phoenix represented Pacific Western Bank in the sale of the Offices at Reems, a 16-unit office condo portfolio located at 15515-15571 N. Reems Road in Surprise, Ariz.
The bank-owned shell and built-out condo units sold for $1,350,000 or $56 per square foot and closed on August 27. The portfolio is approximately 24,101 SF.
“The transaction turned out to be a win-win for both the buyer and seller,” said Justin Horwitz. “This sale put the Offices at Reems back on track to being a vibrant and desirable office condo project in the West Valley.”
The buyer, Reems and Greenway, LLC, was represented by Steve Cook of Escee Properties.

Gridlock

West Valley Looks To Improve Transportation Efforts

Finding Solutions to Gridlock

West Valley looks to improve transportation efforts

By Debra Gelbart

Transportation issues affect the entire Valley of the Sun, of course, but they are particularly weighty in the West Valley, where lack of sufficient freeway miles and the dearth of motorist-friendly roadways are taking a toll on commerce, economic development, tempers and safety. “We simply don’t have the freeway miles that the East Valley does,” says Glendale Mayor Elaine Scruggs, who also chairs the Maricopa Association of Government’s (MAG) Transportation Policy Committee. “In the West Valley, we have too many people traveling on arterial streets, which hurts the quality of life within a city.”

find_solutionsShe says other areas of the Valley are able to concentrate on different aspects of transportation besides freeways. “Phoenix is focused on building light rail and expanding bus service. The East Valley is improving arterial streets,” she says. “But here in the West Valley, we’re still trying to get enough freeways to manage our explosive growth.”

It’s more than just an issue of convenience. “The seven-mile stretch of Interstate 10 that passes through the city of Goodyear—between Perryville Road on the west and Dysart Road on the east—is a major corridor of commerce for products from Asian manufacturing centers off-loaded at the Los Angeles ports,” says Goodyear Mayor Jim Cavanaugh, “and because of the narrowing of the freeway here [there are only two lanes in each direction], traffic backs up terribly. We’ve investigated and found that these seven miles have 10 times the number of traffic fatalities compared with the national average for the 2,500 miles of Interstate 10 across the nation. And we know that this leg of I-10 accounts for 35 percent of all traffic fatalities on I-10 within metropolitan Phoenix.”

The reality is that the commute from the West Valley to Phoenix has become unbearable, says Jay Ellingson, vice president of land development for SunCor, developer of the master planned community of Palm Valley. In January, Ellingson will become chair of WESTMARC, the Western Maricopa Coalition, which brings together representatives of business, 13 local governments and educational organizations to advocate for sound public policy in the West Valley. “We’re just not given the attention we deserve by employers and educational institutions,” Scruggs says, “in part because it’s difficult to travel from and through the West Valley because of so few freeway miles.”

Cavanaugh has been instrumental in securing relief for the congestion on I-10. Originally, I-10 between Dysart Road and the Loop 303 at Cotton Lane was not supposed to be widened until 2011. But because of the efforts of Cavanaugh, other Goodyear officials, leaders from the cities of Avondale, Buckeye, Litchfield Park, MAG and the Arizona Department of Transportation, the widening project will now get under way in 2007. “By late 2008, we will have four lanes in each direction,” Cavanaugh says. “By early 2010, we’ll have five lanes in each direction.”

Jack Lunsford, president and CEO of WESTMARC, says accelerating the widening of I-10 will have a dramatic effect on businesses. “If your people are sitting in traffic for an extra half hour at any given time, that results in a decrease in productivity,” he adds.

Accelerating the widening of I-10 is critical for the people who live in the West Valley, adds John Bradley, general manager of Verrado, DMB’s master planned community in Buckeye. The residents of Verrado may be able to look forward to the I-10 widening from Loop 303 to State Route 85 possibly beginning in 2013 rather than 2023, as originally planned. Currently about 2,000 people live in Verrado; at build-out in 2017 it’s expected to be home to as many as 30,000 residents.
The widening of I-10 is one of three freeway projects that will affect the West Valley. Another is extending Loop 202 from I-10 linking I-10 in the West Valley to I-10 in the Southeast Valley. Construction would start in 2009 and finish in 2015.

AZ Business MagazineThe third freeway project affecting the West Valley is construction of Loop 303, located about 10 of miles west of Loop 101 and currently a two-lane roadway extending from McDowell Road to Grand Avenue in Surprise. Future construction of what will be called the Estrella Freeway will link Interstates 10 and 17 in the far West Valley, but the six-lane freeway won’t be completed until about 2014. “All of these projects are vital now to moving traffic more efficiently and effectively in and around our West Valley cities,” Lunsford says, “and they will be critical in the West Valley’s ability to accommodate and manage future growth.”

Scruggs says the West Valley’s time in the spotlight is overdue. “The West Valley still isn’t recognized for the role it plays in Maricopa County,” she says. “The center of the Valley is shifting westward, to right around Loop 101 and Glendale Avenue. The way the West Valley is perceived will begin to change when we get the freeways we need.”

www.glendaleaz.com
www.ci.goodyear.az.us
www.suncoraz.com
www.westmarc.org
www.dmbinc.com

Arizona Business Magazine Aug/Sept 2006

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Home Run

Playing The Economics Of Sports In The West Valley

Home Run

Playing the economics of sports in the West Valley

 

It’s not so much a case of “if you build it, they will come” that is turning the West Valley into a sports mecca. Rather, it’s the other way around. People have come to the West Valley in droves, setting the stage for an economic explosion and a sports megalopolis. The Arizona Cardinals stadium opens this month, the NHL Phoenix Coyotes play in adjacent Glendale Arena, five Major League Baseball teams conduct spring training at West Valley sites with two cities avidly seeking other teams to call their own and Phoenix International Raceway stages two major NASCAR races a year.

home_runEconomist Elliott Pollack says population growth came to the West Valley first. Contrary to the view of some, Pollack says, “The Phoenix area grows like a balloon in a very orderly manner, at its periphery. Growth got to the west side and the area was looking for an image.”

He calls Glendale Mayor Elaine Scruggs “a very smart lady,” who took advantage of the situation—a population explosion and an abundance of available land. The growth is happening not only in Glendale but in Peoria, Surprise, Goodyear, Avondale and Buckeye as well.

Cardinals Stadium and Glendale Arena essentially created a focal point for that area. “It gave the media something to focus on,” Pollack says. “The area would have grown anyway, but now with a much better image than before.”

Julie Frisoni, marketing and communication director for the city of Glendale, agrees. “Growth is driving the West Valley expansion,” she says. “Much of the East Valley is built up and developed. In the next 15 to 20 years, 40 percent of all growth will be west of the 101 (Agua Fria Freeway).”
People moving to the West Valley expect good housing, quality jobs, entertainment and sporting options, restaurants and shopping opportunities, Frisoni says. “Glendale always has been a bedroom community, a place where people lived and went somewhere else to work and for entertainment. Growth demands the amenities you’re seeing spring up.”

With growth comes soaring land prices. When the deal for the Glendale Arena was struck in 2001, agricultural land there was selling for $2 a square foot. Today, commercial land at the Westgate City Center in Glendale carries a price tag of as much as $25 a square foot. In seven to 10 years, Westgate will have 6 million square feet of retail and restaurants.

Jack Lunsford, president and CEO of WESTMARC, a West Valley economic development organization, says the sports explosion is having a huge dual impact—direct and indirect—on the West Valley economy. The direct impact is fairly easy to calculate. For example, Lunsford says, each of the two NASCAR races are worth $200 million to $250 million to the local economy, and the 2008 NFL Super Bowl, $250 million to $300 million. Add to the mix the Fiesta Bowl and the NCAA Bowl Championship games, plus the hundreds of events, concerts and meetings to be held in the Arizona Cardinals stadium and Glendale Arena and the economic impact is huge, he says.

Spring training is yet another economic engine. The Kansas City Royals and Texas Rangers train in Surprise, the Milwaukee Brewers are in the Maryvale area of Phoenix and the San Diego Padres and Seattle Mariners share a stadium in Peoria. Glendale and Goodyear are on the hunt for Major League teams and appear serious about building their own stadiums. “In two years we could end up with eight teams in the West Valley,” Lunsford says.

Frisoni says Glendale has entered into an exclusive agreement with teams to discuss a potential spring training site. She won’t say how many or which teams the city is targeting or where a stadium site would be. “We are continuing to move forward,” Frisoni says. “We expect a resolution very soon.”
Meanwhile, the Goodyear City Council in March approved a site for a new spring training complex and gave the City Manager’s Office authority to seek Major League teams. Goodyear Mayor Jim Cavanaugh says the complex would be located on the Woods’ Family property east of Estrella Parkway near Yuma Road. The ballpark complex would include commercial, office, hospitality and residential uses.

AZ Business MagazineLunsford notes the indirect impact of the West Valley’s sports explosion is the retail and service development that those kinds of activities spawn.
Economist Pollack sees a change overtaking the West Valley, particularly in the Westgate City Center complex. “There was a lot of economic development going on during construction of the stadium and arena, bringing in retail and more revenues,” he says. “Hopefully the concept will be that people will go there, eat, shop, go to a game or a concert and then go home. Now, they go to a Coyotes game, get out of their car, see the game, get back in their car, and go home. There are not a lot of places to eat on the west side, and that will change.

“It’s not that the arenas created the growth, they created a focal point for growth. It’s going to be a sports and retail mecca that people from other parts of the Valley will go to see games and concerts.”

www.westmarc.org

 

 

Arizona Business Magazine Aug/Sept 2006

 

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