Tag Archives: Southwest Valley

Traffic Congestion, Ways to Reduce in Phoenix, AZ

Public Identifies Transit Priorities for Southwest Valley

The Maricopa Association of Governments (MAG), in partnership with West Valley cities and through extensive input from residents, has completed a transit system study that identifies a local transit plan for the Southwest Valley.

MAG has worked in partnership over the past year with the cities of Phoenix, Avondale, Goodyear, Tolleson, Litchfield Park, the town of Buckeye, Maricopa County, and Valley Metro in developing the plan, which is based on the transportation needs and priorities identified by more than 2,000 Southwest Valley residents. Residents prioritized a local transit system that is accessible, affordable, convenient, and connects to regional transit services.

The short-, mid- and long-term strategies in the plan for local transit services will guide communities in implementing new services as additional revenues become available.

A drop-in open house will be held this week to enable residents to see the plan maps and talk to the project team:

Wednesday, March 20, 2013
6:00-8:00 p.m.
Centerra Mirage Elementary School
15151 W. Centerra Dr. South
Goodyear, AZ

The executive summary of the plan will be posted to the project website March 13th at http://www.azmag.gov/Projects/Project.asp?CMSID=4173. The full plan will be posted shortly thereafter. For more information, please contact Jorge Luna, MAG transit planner, atjluna@azmag.gov or by calling (602) 254-6300.

rsz_estrella_logistics_center

Jones Lang LaSalle Completes Land Sale For 600K SF Spec Industrial Building

The Phoenix office of Jones Lang LaSalle has completed a 38-acre land sale in Phoenix’s Southwest Valley that, by early 2013, will be home to approximately 600,000 SF of speculative, state-of-the-art industrial space.

Managing Directors Anthony J. Lydon, SIOR, and Marc Hertzberg, SIOR, of Jones Lang LaSalle represented the property buyer, Seefried Industrial Properties, Inc. The seller’s agent is Rich Sica of Daum Commercial.

The site, located at the NEC of 63rd Ave. and Sherman Way in Phoenix, was acquired by a venture between USAA Real Estate Company and Seefried Industrial Properties. The venture will proceed with the development of Estrella Logistics Center, a speculative $30M, 592,500 SF, cross-dock distribution building.

“Seefried and USAA are specialists in developing, leasing and managing premier industrial logistics projects,” Lydon said. “They are experts at knowing what to build and where to build it, and they have chosen an exceptional time to deliver speculative industrial product in Phoenix.”

According to Jones Lang LaSalle research, there is approximately 6 MSF of current user demand in Phoenix for requirements of 100,000 SF or more; however, supply has not kept up with demand. As such, the market experienced an anaemic first quarter, with just 92,598 SF of net industrial absorption as compared to a total 6.9 MSF of net industrial absorption in 2011.

“The only local industrial construction that we’ve seen completed this year falls in the single-tenant, build-to-suit category,” Hertzberg said. “This does little to satisfy this market’s broader demand for large blocks of space. This will be the key driver for new Phoenix speculative industrial development in 2012.”

Jones Lang LaSalle reports that demand for larger industrial spaces in the Southwest is the strongest among national retailers, food and beverage distributors, solar and e-commerce businesses. This is due in large part to Phoenix’s proximity to California, its 30 to 40% lower business costs, and the availability of quality land that is also near the market’s many accessible transportation lines.

The future Estrella Logistics Center site will be fully improved with all of the modern logistics amenities expected by the supply chain industry. The project sits just south of Interstate 10, between the 59th and 67th avenues full interchanges.

Construction on Estrella Logistics Center is slated to begin in October and will be completed by May 2013. For occupancy, Seefried and USAA plan to pursue corporate employers seeking a scalable space solution.