Siete Square II Poised for Modernization as Part of Midtown Revitalization

Phoenix, Arizona –  Boise-based Alturas Capital Partners has purchased Siete Square II at 3707 N. 7^th St. in Midtown Phoenix for $5,657,400 ($105 PSF).  The real estate investment firm plans to modernize the three-story office building as part of the ongoing revitalization of the Central Phoenix business district.

“This multi-tenant property was built in 1983 and is an ideal value-add opportunity,” says Phil Breidenbach of Colliers International in Arizona. “The Midtown submarket is experiencing a noteworthy resurgence that includes thousands of new Class A apartments, as well as a wide array of new retail and restaurants.  Office tenants are increasingly selecting this area as a great live-work-play environment for their businesses.”

Breidenbach, Mindy Korth, Kirk Kuller, Kathy Foster and Kyle York represented the seller in the transaction.  Phoenix-based Orsett Properties sold Siete Square II to Alturas Capital Partners.  The buyer was self-represented.

Siete Square II, was recently remodeled during 2016-2017.  The 54,072-square-foot building was 86 percent occupied at the time of the sale.  Alturas plans to make improvements to the common areas, building signage and exterior areas.  Approximately 7,500 square feet of space in the building is available for lease.

Orsett Properties is a private company and has established itself as one of Arizona’s leading developers and operators of office, industrial and retail real estate projects.

Alturas Capital Partners is a commercial real estate investment company and manager of the Alturas Real Estate Fund.  The company actively invests in office, industrial and retail properties, with a focus on the Pacific Northwest and Intermountain West.  Alturas manages properties in Idaho, Washington, Colorado and Arizona.   Siete Square II is the 23^rd asset purchase for the fund.  Since 2009, the firm has made investments valued at more than $250 million and is actively seeking to acquire additional assets in the Western United States.

GREEN VALLEY, ARIZONA — Artisans, vendors, food trucks and more will be on hand Thursday, Jan. 17, for the first of four free weekly “Country Markets” at Historic Canoa Ranch, 5375 S. I-19 Frontage Road in Green Valley.

The pilot program will be held every Thursday for the next four weeks, through Feb. 7 at Canoa Ranch, which is managed by the Pima County Natural Resources, Parks and Recreation Department. Guests also can enjoy music, local produce and much more at the market, which will be open from 9 a.m. to 1 p.m.

The vendor fee for a 12 x 12 space is $20.  All vendor fees go towards the restoration of the Tradesman House for a future research/oral history library and gift shop.  Vendors keep their sales.

Prospective vendors should contact Valerie Samoy, NRPR special staff assistant, at  [email protected], 520-724-5220 or 520-349-5026.

“If all goes well, we’ll likely test other days and continue throughout the spring and pick up in the fall,”, said.

The entry gate to Historic Canoa Ranch is open seven days a week from 7 a.m. to 4 p.m. for access to the newly restored Canoa Lake and the Anza Trail. Guided tours of the historic site are conducted Tuesdays and Saturdays at 10 and 11 a.m. Visit www.pima.gov/canoaranch for more info on programs and other guided tours.

In 2001, Pima County purchased and began to restore the 4,800-acre Canoa Ranch complex with voter-approved 1997 and 2004 bond funds. Pima County opened the ranch headquarters to the public in March 2013.

 

By Austen Bundy | Cronkite News

PHOENIX, Arizona – Education funding and the looming threat of water shortages were among the key issues Gov. Doug Ducey emphasized in his State of the State address Monday in Phoenix and Tuesday in Tucson.

The Arizona Republican opened his speech in House chambers at the State Capitol saying, “The challenge before us is to lay the groundwork today to make sure the Arizona of tomorrow remains strong. Doing so requires action now to do the things that matter and secure Arizona’s future.”

But with Democrats gaining seats in the November election, party leaders vowed things will be different in the current legislative session.

Ducey said he was “ready to get back to work” and that both Republicans and Democrats “think there is common ground to work together.” He highlighted several major issues facing the state.

Water

“It’s first on my list,” he said. “We’re in a 19-year drought, and it’s going to get worse before it gets better.”

The governor stressed that it was “time to pass the drought contingency plan, and we have 17 days to do it.”

Arizona and much of the West have been in a drought since 1994, according to the state’s Department of Water Resources. The federal government has given Arizona until Jan. 31 to hammer out a plan to deal with expected water shortages across the vast Colorado River Basin.

Education

Ducey touted his administration’s achievement of delivering a 20 percent pay raise for teachers after several statewide walkouts last year.

“Because of teachers … we got that pay raise passed and into teachers’ paychecks,” he said.

He also warned against diverting the money elsewhere, warning, “anyone thinking of using these resources anywhere else, I have one message: Don’t even think about it.”

He also proclaimed that the “next generation of Arizona teachers” would be produced through his administration’s new Arizona Teachers Academy. The program, which launched in 2017 with 221 enrollees, offers a scholarship to Arizona college graduates willing to stay in-state for a teaching career, according to the academy’s website. Ducey promised “more dollars, more support” for the academy this year.

“Let’s allow (Arizona college graduates) to graduate debt-free,” Ducey said.

The governor called for a renewed focus on Career and Technical Education (CTE), claiming 99 percent of CTE students graduate from high school.

“These programs we plan to build, expand and align with the jobs of tomorrow,” Ducey said.

According to the Association for Career and Technical Education “the average high school graduation rate for students concentrating in CTE programs is 93 percent.”

Spending, taxes and behavior

Ducey proudly reminded legislators that when he took office four years ago, the state had a $1 billion deficit, but this year it will have a $1 billion surplus.

“Breaking news,” Ducey announced. “We now own this building again.”

As for taxes, “Arizona has weathered the storm,” he said, adding that his administration has no intention of raising taxes.

“Arizonans want their teachers paid and their budgets balanced,” Ducey said.

Jobs

“We’ve gotten government out of the way of job creation. We’ve eliminated more than 1,000 regulations in this state,” Ducey boasted. He also praised the new United States, Mexico and Canada trade agreement, the NAFTA replacement that awaits congressional approval, saying it will bring more jobs and trade to the state.

The governor again criticized the state’s many licensing boards and their regulations, saying they prevent workers licensed in other states from moving to Arizona.

“If people want to work, let’s let them work,” he said.

Ducey called on legislators to “pass (Rep.) Warren Peterson’s bill to grant universal recognition for all occupational licenses.”

School safety

Ducey touted his administration’s Safe Arizona Schools Plan. “More cops, more counselors, improved background checks” were only some of the aspects Ducey listed.

The governor also stated he wished to protect Second Amendment rights “while keeping guns out of the hands of individuals who are a lethal threat.”

Ducey did not mention border security in his speech, hardly addressing any issues touching Arizona from Washington, D.C.

However, he did take one opportunity to criticize Congress for the recent government shutdown, now in its record twenty-fifth day, saying “the federal government is broke, broken and broken down. Washington can learn a lot from us.”

Ducey wrapped up his speech in inspirational fashion proclaiming, “we’ve got our work cut out for us … I have high hopes this will be our most productive session yet. Let’s put Arizona first … let’s get to work.”

At a news conference before Ducey’s address, Senate Minority Leader David Bradley, D-Tucson, House Minority Leader Charlene Fernandez, D-Yuma, and several caucus members gave their party’s form of a rebuttal just hours before the speech, laying out their legislative priorities for the year in what they called a Blueprint for a Better Arizona.

“It is not going to be business as usual,” Fernandez said. After last year’s midterm elections Democrats now hold 13 of 30 seats in the Senate and 29 of 60 seats in the House, still short of the majority but paring the Republican lead in both chambers.

Rep. Raquel Terán, D-Phoenix, said the message they’ll send Ducey, a Republican who won a second-term in November, would be one promoting the protection of democracy, stating that “citizens demanded something different” in the election.

“We hope to work together with the governor,” said Rep. Athena Salman, D-Tempe.

Rep. Kelli Butler, D-Scottsdale, said she ran on increasing education funding and hopes the governor is willing to work across the aisle to do so.