Cushman & Wakefield Negotiates $14.6 Million Sale in Mesa, AZ

PHOENIX, Arizona – Cushman & Wakefield announced that Pacifica Real Estate Group of Santa Barbara, Calif. purchased Pecos Gateway Business Park, located at 8743 E. Pecos Road in Mesa, Ariz. Boomerang Capital Partners of Mesa sold the 125,896-square-foot (sf) industrial property for $14.6 million ($116 PSF).

Bob Buckley, Tracy Cartledge, and Steve Lindley of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

Pecos Gateway Business Park is a three-building, multi-tenant industrial property located along Pecos Road, approximately 1.5 miles south of the Phoenix-Mesa Gateway Airport. Situated on 10.56 acres, the property features 18-23 feet clear height, 11 dock-high loading doors, 29 grade-level loading doors, and suites ranging in size from 2,000-17,500 sf.

Currently 100 percent occupied, Pecos Gateway Business Park has maintained a 92 percent average occupancy since the first quarter of 2011. Built in 2008, the property recently underwent capital improvements including a new elastomeric coating on the roof.

“Pecos Gateway is a classic multi-tenant industrial property located in the rapidly developing Gateway Airport area,” said Buckley.  “Its ongoing history of high occupancy combined with its location in this dynamic market sets the stage for Pecos Gateway to be a successful investment for Pacifica.”

Service will speed up approval process to film/photograph on County property

PIMA COUNTY – Pima County Attractions and Tourism, in partnership with Film Tucson, launched a new online permitting system that allows filmmakers, location scouts and photographers who have interest in filming on County property to submit their applications.

Developed in-house by the County’s Information Technology Department with input from Film Tucson, this web-based system will get applications reviewed within hours or days from submittal. It’s also mobile friendly and compatible to work on most web browsers.

Companies and individuals interested in applying can find the link to the Commercial Filming/Still Photography Special Use Permit Application on Film Tucson’s permit page.

“The County-owned Tucson Mountain Park with its unparalleled Saguaro-lined roads, including Gates Pass, is one of our most in-demand locations,” said Shelli Hall, Director of Film Tucson. “This streamlined permit process will go a long way in meeting the needs of our film industry clients where time literally is money. We’re thrilled with Pima County’s responsiveness and their on-going commitment in partnering with us to keep production companies filming here.”

Aside from the convenience factor for production companies who have interest in using Pima County as their backdrop, this service will keep the County up to date on opportunities to drive film revenue in Southern Arizona.

According to recent data from Visit Tucson, in December 2018, three film projects contributed about $370,000 to the local economy in hotel, food, car rental and other related expenses. To date this fiscal year, from July to December, film-related direct spending totals about $3.4 million.

Tucson and Pima County have a storied movie tradition dating back to the early 1900s. Old Tucson, a Pima County owned property, has had more than 400 film and television projects, mostly Western-themed movies and commercials, filmed onsite since 1939. Dozens more films, from campy comedies like “Three Amigos” to oldies such as Sidney Poitier’s “Lilies of the Field” and recent blockbusters like “Transformers: Revenge of the Fallen” also were shot in and around Tucson.

“It’s a treat to see Pima County’s mountains and sunsets up on the big screen, but it’s also a great economic driver,” County Administrator Chuck Huckelberry said. “Anything we can do to simplify the application process for filmmakers or location scouts we’re happy to do.”

The old application system was a static PDF that had to be completed manually and routed to the necessary departments. Depending on the nature of the request, it was not uncommon for approvals to take up to 14 days. The new application system is much more streamlined and shared across departments simultaneously, resulting in an improved response time.

International Tourist Arrivals Reach 1.4 billion Two Years Ahead of Forecasts

• 2018 totaled 1.4 billion international tourist arrivals (+6%), consolidating 2017 strong results and proving to be the second strongest year since 2010
• Middle East (+10%) and Africa (+7%) grew above the world average while Asia and the Pacific and Europe grew at 6%
• For 2019, UNWTO forecasts a 3-4% increase, in line with the historical growth trend

International tourist arrivals grew 6% in 2018, totaling 1.4 billion according to the latest UNWTO World Tourism Barometer. UNWTO’s long term forecast issued in 2010 indicated the 1.4 billion mark would be reached in 2020, yet the remarkable growth of international arrivals in recent years has brought it two years ahead.

UNWTO estimates that worldwide international tourist arrivals (overnight visitors) increased 6% to 1.4 billion in 2018, clearly above the 3.7% growth registered in the global economy.

In relative terms, the Middle East (+10%), Africa (+7%), Asia and the Pacific and Europe (both at +6%) led growth in 2018. Arrivals to the Americas were below the world average (+3%).

“The growth of tourism in recent years confirms that the sector is today one of the most powerful drivers of economic growth and development. It is our responsibility to manage it in a sustainable manner and translate this expansion into real benefits for all countries, and particularly, to all local communities, creating opportunities for jobs and entrepreneurship and leaving no one behind” said UNWTO Secretary-General Zurab Pololikashvili. “This is why UNWTO is focusing 2019 on education, skills and job creation.”, he added.

UNWTO’s long-term forecast published in 2010 predicted the 1.4 billion mark of international tourist arrivals for 2020. Yet stronger economic growth, more affordable air travel, technological changes, new businesses models and greater visa facilitation around the word have accelerated growth in recent years.

Results by region

International tourist arrivals in Europe reached 713 million in 2018, a notable 6% increase over an exceptionally strong 2017. Growth was driven by Southern and Mediterranean Europe (+7%), Central and Eastern Europe (+6%) and Western Europe (+6%). Results in Northern Europe were flat due to the weakness of arrivals to the United Kingdom.

Asia and the Pacific (+6%) recorded 343 million international tourist arrivals in 2018. Arrivals in South-East Asia grew 7%, followed by North-East Asia (+6%) and South Asia (+5%). Oceania showed more moderate growth at +3%.

The Americas (+3%) welcomed 217 million international arrivals in 2018, with mixed results across destinations. Growth was led by North America (+4%) and followed by South America (+3%), while Central America and the Caribbean (both -2%) reached very mixed results, the latter reflecting the impact of the September 2017 hurricanes Irma and Maria.

Data from Africa points to a 7% increase in 2018 (North Africa at +10% and Sub-Saharan +6%), reaching an estimated 67 million arrivals.

The Middle East (+10%) showed solid results last year consolidating its 2017 recovery, with international tourist arrivals reaching 64 million.

Growth expected to return to historical trends in 2019

Based on current trends, economic prospects and the UNWTO Confidence Index, UNWTO forecasts international arrivals to grow 3% to 4% next year, more in line with historic growth trends.

As a general backdrop, the stability of fuel prices tends to translate into affordable air travel while air connectivity continues to improve in many destinations, facilitating the diversification of source markets. Trends also show strong outbound travel from emerging markets, especially India and Russia but also from smaller Asian and Arab source markets.

At the same time, the global economic slowdown, the uncertainty related to the Brexit, as well as geopolitical and trade tensions may prompt a “wait and see” attitude among investors and travelers.

Overall, 2019 is expected to see the consolidation among consumers of emerging trends such as the quest for ‘travel to change and to show’, ‘the pursuit of healthy options’ such as walking, wellness and sports tourism, ‘multigenerational travel’ as a result of demographic changes and more responsible travel.

“Digitalization, new business models, more affordable travel and societal changes are expected to continue shaping our sector, so both destination and companies need to adapt if they want to remain competitive”, added Pololikashvili.

UNWTO World Tourism Barometer Presentation