Record price-per-square-foot for unanchored Scottsdale shopping center

SCOTTSDALE, AZ — Colliers International brokered the sale of Agave Center, a 2.46-acre shopping complex in Scottsdale, AZ. With 16,038 square feet of retail space and positioned at the highly trafficked intersection of Scottsdale Road and Acoma Drive, Agave Center is 100% occupied by local and national credit tenants. The $9.775 million ($609 PSF) sale and 6.2% CAP represent a record per-square-foot rate for an unanchored Scottsdale shopping center.

Colliers’ Snyder Carlton Team, a southern California based brokerage team specializing in single tenant and multi-tenant retail investment properties nationwide, represented the seller in the transaction. Negotiations of Agave Center by the Snyder Carlton Team emphasize a continued cross-market uptick for national investment during the pandemic.

“The Scottsdale market is one of the hottest commercial and residential markets in the country,” said Eric Carlton, Executive Vice President at Colliers. “Retail centers are still alive and thriving in the COVID era, and buyers can find tremendous opportunity. Out-of-state capitol continues to flow into Arizona. Agave Center showcases the return available for retail property owners looking to sale assets under the current market conditions.”

The Snyder Carlton Team at Colliers has closed hundreds of transactions in over 40 states for a total transaction volume of more than $3 billion. Representing national real estate investment trusts, public institutions, private equity companies, real estate developers, pension funds and private investors based throughout the United States, the Agave Center transaction showcases the diversity of interest from a wide breadth of institutional organizations placing capital in Arizona markets.

SCOTTSDALE, ARIZONA – Last year’s in-person Trends Day attracted a record number of participants. Join ULI Arizona for the 16th Annual Trends Days, this year a three-day virtual program of deep-dive content.

The 2021 event, April 20-22, brings together more than 40 top industry experts from across the globe. They will discuss the most current real estate trends with a focus on what to expect in the future, where the best opportunities can be found, and how these components affect both public and private sector partners.

ULI Arizona’s Trends Day is recognized as the third largest ULI program globally. The COVID-19 pandemic has made it necessary to hold a virtual event. Trends Day 2021 will be spread across three mornings to avoid Zoom fatigue, making it easier to attend.

Participants will have the chance to take part in roundtables offering an additional interactive networking experience and also receive access to recordings of the entire program.

“Virtual programming of Trends Day for the first time ever has allowed us to truly leverage the global reach of ULI with even more speakers from across the country,” said Deb Sydenham, FAICP, Executive Director, ULI Arizona District Council. “The audience can expect true thought-leadership.”

Registration fees: private member, $99; non-member, $139; public/academic/nonprofit and student, $49 for member and non-member; and under age 35, member, $99; non-member, $139.

Highlights of each day:

• Day 1, April 20: Predictions for the U.S. Economy, or Life in the Canary Watch Box, Dr. Peter Linneman, will share his insights and research into the U.S. economy amidst COVID-19 recovery under the new Biden Administration; Fireside Chat, The Long Game: Waging the War on Coronavirus, Dr. Paul Keim, Executive Director, Pathogen and Microbiome Institute; Regents Professor, and Co-Director of TGen North, Northern Arizona University.
•  Day 2, April 21: Capital Markets Keynote – Show Me the Money, Mary Ludgin, Ph.D., Senior Managing Director and Director of Global Investment Research, Heitman; Arizona’s Explosive Growth in Manufacturing, Grace O’Sullivan, Vice President, Corporate Engagement and Strategic Partnerships, Arizona State University, moderator; Laura Matz, Ph.D., Vice President, Planatization, EMD Electronics; Micah Miranda, Economic Development Director, City of Chandler; and Jim Rounds, President, Rounds Consulting Group, Inc.
• Day 3, April 22: Leadership in Times of Transition, former Arizona Sen. Jeff Flake and Bob Worsley, Entrepreneur, Author and Former Arizona State Senator, NZ Legacy, LLC; ZenniHome, LLC; NovoPower, LLC; Fireside Chat – Leadership: Engagement, Equity and Community Development, Omar Passons, Esq., MPH, Director, Division of Integrative Services, County of San Diego Health & Human

Services Agency; Chair, ULI San Diego/Tijuana Diversity, Equity & Inclusion Committee. Register here.

Governor Ducey: “Arizona Is In The Midst Of A Manufacturing Boom”

COOLIDGE, AZ — The State of Arizona, Pinal County, City of Casa Grande and Central Arizona College have opened a new training center that will prepare Arizonans for jobs in high-tech industries. The state-of-the-art facility, named “Drive48,” features cutting-edge robots and multiple hands-on training rooms where technicians will train for jobs in advanced manufacturing.

Since 2015, manufacturing jobs in Arizona have increased at one of the fastest rates in the country. More than 180,000 Arizonans now work in the manufacturing industry, where jobs pay on average 21% higher than other private sector positions. Industry leaders to announce major relocations or expansions in recent years include Intel, Benchmark Electronics, Lucid Motors, Nikola Motor Company, TSMC, ElectraMeccanica, Raytheon and more.

“Arizona is in the midst of a manufacturing boom,” said Governor Ducey, who helped officially launch the new training center today in Coolidge. “We’re showing the nation what it means to welcome innovation and industry, while creating opportunities for people to work in high-skill, high-wage industries. When more products are ‘Made In Arizona,’ our entire economy benefits, and we look forward to keeping this momentum going.”

Drive48 represents a unique collaboration among government, industry and academia to bolster Arizona’s workforce training efforts. The facility was designed with flexibility in mind, meaning as industry needs change and evolve, training equipment and curricula can evolve with them.

“Talent is a key driver in business location decisions,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “With the opening of Drive48, we’re further enhancing Arizona’s robust manufacturing workforce pipeline, now and in the future. We’re grateful to the many partners who helped make this project possible.”

The Drive48 facility is currently outfitted to prepare workers for jobs in automotive manufacturing. The main training room features a large open area with multiple assembly robots used for training technicians in programming, maintenance, problem solving, troubleshooting, safety, general system requirements and more. The 13,000 square foot facility can train upwards of 100 students at any given time.

“Central Arizona College is excited to be the home of this cutting-edge regional workforce training center,” said Central Arizona College President Dr. Jackie Elliott. “This partnership is a testament to the commitment of all parties in investing in the state’s economy and enriching the lives of individuals through meaningful skilling and employment.”

Drive48 complements the Arizona Advanced Technology Network curriculum, a first-of-its-kind partnership developed by Arizona’s employers, public sector and academic institutions to meet the demand for high-tech manufacturing skills today and into the future. Central Arizona College was one of three community colleges in the state to engage with dozens of manufacturers to develop an unified, industry-recognized curriculum specifically designed to enhance skills training for manufacturing jobs.

“Thousands of high-tech jobs are coming online in Pinal County over the next few years,” said Mayor of Casa Grande Craig McFarland. “This facility and the many partners involved are ensuring our workforce can meet the demand while providing local graduates a pathway to gain new skills, acquire good-paying jobs, and stay right here in the community.”

Other partners involved in designing, constructing, and outfitting the facility include Architekton, McCarthy Building Companies, and Design Systems, Inc.

Find out more about Drive48 and Arizona’s manufacturing industry HERE.