PHOENIX, ARIZ. – Upon completion, the Loop 202 South Mountain Freeway will add more than 22 miles to the existing Metro Phoenix transportation system.

It will connect the East and West valleys while providing much-needed relief to existing freeway corridors and local streets. It will also have a major economic impact on the Valley.

AZCREW, the leading organization for senior-level executive women in the Metro Phoenix commercial real estate field, will examine the economic impact of the new Loop 202 extension at its June luncheon. The event is June 18 at the Phoenix Country Club, 2901 N. 7th St.

June’s speakers include Cathy Thuringer, Principal, Trammell Crow Company; Lori Collins, Deputy Economic Development Director, City of Phoenix; and Martin Perez, Program Manager, City of Phoenix.

AZCREW’s June lunch begins with networking at 11:30 a.m. The program starts at noon. Member registration is $45; non-member pre-registration is $65. Lunch is included. Registration ends June 13. Register here.

PIMA COUNTY, Arizona — In compliance with section 48-254, Arizona Revised Statutes, Pima County has announced its intent to raise primary and secondary property taxes. The three separate notices sent separately as required by law for public notice, are combined here.

Pima County Flood Control District proposes an increase in secondary property taxes of $1,000,142 or 3.96%, an increase in primary property taxes of $6,384,581 or 1.88% and Pima County Free Library District a proposed increase in secondary property taxes of $3,300,285 or 7.68%.

For example, the proposed tax increase for Flood Control will cause Pima County Flood Control District’s secondary property taxes on a $100,000 home to be $33.35 (total proposed taxes including the tax increase.) Without the proposed tax increase, the total taxes that would be owed on a $100,000 home would have been $32.08.

The proposed primary tax increase will cause Pima County’s taxes on a $100,000 home to be $399.96 (total proposed taxes including the tax increase.) Without the proposed tax increase, the total taxes that would be owed on a $100,000 home would have been $392.57.

The proposed tax increase will cause Pima County Free Library District’s secondary property taxes on a $100,000 home to be $53.53 (total proposed taxes including the tax increase.) Without the proposed tax increase, the total taxes that would be owed on a $100,000 home would have been $49.71.

These proposed increases are exclusive of increased secondary property taxes received from new construction. The increase is also exclusive of any changes that may occur from property tax levies for voter-approved bonded indebtedness

All interested citizens are invited to attend the public hearing on the tax increase that is scheduled to be held on Tuesday, June 18, 2019, at 9 a.m. or thereafter in the Board of Supervisors Hearing Room, Pima County Administration Building, 130 W. Congress, 1st Floor, Tucson, Arizona.

In February, Pima County Assessor, Bill Staples, reported to the Board of Supervisors that the County would need to lower tax rates by 14.4 cents in order to avoid giving public notice of a tax increase, if reduced by 18.5 cents it would allow the County to collect the same amount as 2019, in order to comply with the Truth in Taxation Notices.

For related article https://realestatedaily-news.com/pima-county-tax-valuations-no-change-for-2020-tax-rates-may-be-lowered-across-the-board/

The County is hereby giving public notice in order to comply with the Truth in Taxation Notice of Tax Increase.

The former 15,562 SF Asian Buffet at Mission Plaza leased for conversion to a New Indoor Children’s Indoor Adventure Playground highlights this week’s lease report.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from May 24 thru 28, 2019.

RETAIL – MISSION PLAZA, SPEEDWAY & SWAN, TUCSON
Kevin Volk and Jeramy Price of Volk Company handled the leasing of approximately 15,562-square-feet in Mission Plaza at Speedway and Swan.  The tenant, Pixel Investment Partners, LLC, doing business as Wild Katz, plans to remodel the former Asian buffet restaurant into a children’s indoor adventure playground, providing a safe, clean, stimulating environment for children to play, and for parents to spend time.

RETAIL – 5975 E SPEEDWAY BLVD., TUCSON
Jeramy Price of Volk Company handled the lease of the approximately 5,654-square-foot Lotus Garden restaurant to Serial Grillers, LLC.  Serial Grillers plans major renovations for the building and patio.

OFFICE – 6365-6377 E TANQUE VERDE ROAD, TUCSON
Cranial Technologies leased a 3,525-square-foot office space in Tri-Pointe Plaza, 6365-6377 East Tanque Verde Road from Interra Sky Tri-Pointe, LLC. Ian Stuart and Bruce Suppes of CBRE’s Tucson office represented the landlord and Lindsey Carlson of Colliers International, the tenant.

RETAIL – 2945 E SPEEDWAY BLVD., TUCSON
Rick Borane and Jeramy Price of Volk Company handled the lease of the approximately 3,283-square-foot former May’s Counter at 2945 E. Speedway to Istanbul, a restaurant specializing in Turkish Food, owned and operated by Kamran Esar.  The landlord is Ricassar Investments.

RETAIL – 4110 E 22^ND STREET, TUCSON
Jeramy Price of Volk Company represented One Ten Rei Main, LLC, in the lease of the approximately 2,700-square-foot former Carl’s Jr at 4110 E. 22^nd Street to La Klica, LLC DBA Filibertos Mexican food.

RETAIL – CORTARO & I-10, MARANA
Brenna Lacey and Jeramy Price of Volk Company, along with Chuck Wells of Advisors Commercial Real Estate, represented the landlord, Cortaro Commercial JV LLC, in the lease of an approximately 2,500-square-foot end cap space for an Arby’s restaurant in the new 21- acre project being developed on the northeast corner of Cortaro and I-10.  Arby’s will join Serial Grillers and ATI Physical Therapy in a newly constructed building next to the existing IHOP and a planned Dutch Bros. Coffee.  The tenant was represented by Brian Harpel of Velocity Retail Group.

OFFICE – 3567 E SUNRISE DR, STE 219, TUCSON
First Citizens Bank and Trust Company leased a 2,450-square-foot office space located in La Paloma Corporate Center, 3567 East Sunrise Drive, Suite 219, from La Paloma Corporate Center, LLC. David Montijo and Jeff Casper of CBRE’s Tucson office handled the transaction.

SILVERBELL PLAZA AND INA & THORNYDALE LEASES
Debbie Heslop, CCIM, of Volk Company represented Red Star Vapor in two recent leases.  Red Star leased approximately 1,200-square-feet in the Silverbell Plaza shopping Center at Grant and Silverbell, and approximately 988-square-feet in the Target anchored center at Ina and Thornydale.  The landlords, Massapequa Associates, LLC and IT Investments One, LLC, were represented by Dave Hammack and Aaron LaPrise of Picor.