Phoenix, Ariz (February 28, 2024) — Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally-owned commercial real estate brokerage, is pleased to announce the sale of Building F in Venture Court Professional Plaza in Anthem, Arizona. The ±27,223 SF two-story office building is located off I-17 and Anthem Way at 41810 N Venture Drive. The property has excellent visibility from I-17 and is just 6 miles from one of Phoenix’s recent developments, TSMC, the new semiconductor manufacturing plant, whose surrounding area has the potential of becoming its own thriving business center.

Eric Butler and Phill Tomlinson at Commercial Properties Incorporated represented the seller, Liftable Media, Inc.  Keith Lammersen of JLL represented the buyer, Maricopa County Libraries. The ±27,223 SF office building was sold to Maricopa County Libraries for $9 million ($330.60 PSF).

Butler commented, “North Valley Regional Library was originally on the campus of Boulder Creek High School in Anthem where they were leasing space and open to the public and the students on campus. We had to help Maricopa County Libraries change the CC & R’s (Covenants, Conditions, and Restrictions) in the development so they could occupy the property. We were happy to be involved throughout the process and the previous owner was delighted with the outcome.”

For additional information, please contact Eric Butler at [email protected] or (480) 522-2813, or Phill Tomlinson at [email protected] or (480) 522.2800.

Tucson, AZ and Hermosillo, Sonora, MX (February 28, 2024) — Sun Corridor Inc., Tucson and Southern Arizona’s regional economic development organization, and Sonora Global, the economic development organization for the State of Sonora, Mexico today signed a historic Memorandum of Understanding (MOU) to promote trade and economic development as a megaregion.

This MOU, the first for Southern Arizona, signifies the intent of both organizations to enhance cross-border cooperation and open a new chapter of collaboration, providing a framework of partnership for the pursuance of economic prosperity in both Southern Arizona and Sonora, Mexico.

In 2023, Mexico supplanted China to become the U.S. top trading partner. While Mexico has long been Arizona’s number-one trading partner, this shift at the national level will have significant economic implications for Southern Arizona. Between global trade policies and the delicate supply chains exposed during and after the pandemic, companies have determined that diversification of their supply chains are required to remain competitive globally. Businesses are diversifying their manufacturing operations and seeking locations closer to the U.S. with an already favorable trade relationship, like Mexico.

In this shift to nearshore, global companies can capitalize on the geographic proximity between Southern Arizona and Sonora. Each region has its respective economic strengths, which complement rather than compete. Together, as a megaregion, we can enhance our competitiveness, ultimately increasing business growth and economic prosperity in both Southern Arizona and Sonora.

Industry sectors shared by each region include automotive, advanced manufacturing, electronics, medical devices and aerospace. Efforts outlined in the MOU include the development of an inter-regional marketing plan, collaborative conferences and forums related to cross-border industry competitiveness, strategies for cross-border talent development and allocation, and other joint marketing efforts.

“Mexico is the primary recipient of the efforts by manufacturers across a variety of industries to nearshore their operations, as Mexico’s manufacturing sector continues to grow. All indications are that this nearshoring shift is occurring. We want to make sure we are well positioned to capitalize on this opportunity,” said Joe Snell, president & CEO, Sun Corridor Inc.

“By working together as a megaregion, we can leverage our combined strengths, resources, and proximity to create a more competitive and attractive environment for businesses seeking to invest and grow in North America. This collaboration will not only benefit our respective economies but also strengthen the overall economic competitiveness of the U.S.- Mexico border region,” said Arturo Fernández, president, Sonora Global EDC.

PHOENIX (February 28, 2024) – Rein & Grossoehme specializes in selling investment properties and retail, office and industrial leasing. The Sheehan Schumacher team closed over $130,000,000 in 2022 and $110,000,000 in 2023 and sold $24,000,000 YTD in 2024.

Highlighted in these recent sales were:

• The sale of a contractor storage yard located at 10317 E Apache Trail consisted of a ± 1.67-acre lot with a ± 2,740 SF office building. The lot is located less than 2 miles East of Loop 202 in Apache Junction and zoned C-3 (County Island).  Max Schumacher, Patrick Sheehan, and Jack Hansen of Rein & Grossoehme represented the buyer.
• The sale of 3502 W Lower Buckeye Rd. included ± 9.02-acre outdoor storage yard with ± 94,210 SF of structures. Site benefits include a fully fenced and secured yard, 1,400 amps of power, and 14’ – 22’ clear height. The property is located 3 miles from the I-10 and I-17 freeways and is zoned A-1, City of Phoenix. Max Schumacher, Patrick Sheehan, and Jack Hansen of Rein & Grossoehme represented the seller.
• The 2912 E Wood St. sale included ± 40,380 SF of land and ± 10,634 SF of warehouse and office space with ± 1,000 SF of mezzanine storage. Max Schumacher, Patrick Sheehan, and Jack Hansen of Rein & Grossoehme represented the buyer. This sale marks Max Schumacher’s 26^th building sale in Sky Harbor since 2021 and 91 buildings sold since 2021 in the Phoenix MSA.
• The 6424 – 6430 W Orangewood Ave. sale that included two office buildings, a storage building, and a ± 9,000 SF partially enclosed shop on a fully fenced and secured 4.9-acre yard. The property is in an opportunity zone and zoned M-1 (Light Industrial) in Glendale. Max Schumacher, Patrick Sheehan, and Jack Hansen of Rein & Grossoehme represented both buyer and seller.

For more information, contact Sheehan at 480-214-9405 and Schumacher at 480-214-9403.

PHOTO: 3502 W Lower Buckeye Rd., Phoenix