Joint venture completes first two Valley land acquisitions for Las Vegas-based IndiCap

MESA, ARIZONA – IndiCap, a newly formed boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48 million acquisition of two parcels of land totaling 113 acres in the Eastmark master-planned community located in the heart of the Mesa Gateway submarket.

The project, Eastmark Center of Industry, will contain 10 buildings totaling over 1.6 million square feet of mid-bay and cross dock industrial buildings. Cornerstone companies assisting in the land acquisition and development include Layton Construction, Kimley Horn, Deutsch Architecture and Snell & Wilmer. Pat Harlan, Steve Larsen and Jason Moore from the Phoenix office of JLL represented IndiCap in its site selection and land acquisition.

Formed by real estate industry leaders Mike Chernine and Jason Kuckler, the IndiCap development team brings over 100 years of collective experience to the Arizona and Nevada real estate markets. Todd Ostransky, IndiCap’s senior vice president of development (AZ) and Aaron Asmus, development manager (AZ), will lead upcoming Arizona projects including the recently acquired parcels of land. Ostransky is known for his work in the Arizona market and brings over 25 years of experience and a background in bids, negotiations and preconstruction management. Asmus brings over 20 years of national development management services experience.

AECOM-Canyon Partners, a joint venture partnership between AECOM Capital, the real estate investment arm of global infrastructure firm AECOM, and Canyon Partners Real Estate, the real estate direct investing arm of Canyon Partners LLC, a global alternative asset management firm, is providing joint venture equity capital as well as best-in-class development expertise to the project.

“We are excited to kick off our first project in Phoenix’s burgeoning commercial real estate market,” said Jason Kuckler, one of the principals at IndiCap. “This location was strategically selected to allow for easy access through multiple freeway entrances and it offers an incredible opportunity to lease and purchase buildings amongst some of the biggest household names. We see Phoenix as an industrial juggernaut in the Western U.S. which could quickly mature into a core market.”

Buildings at Eastmark Center of Industry will range from 83,200 square feet to 426,400 square feet with 30’ to 36’ clear height and 160’ to 500’ building depth. Future phases may include the opportunity for build-to-suit. The project is located within the Elliot Road Technology corridor, minutes from a full-diamond interchange at Santan Loop 202 and Elliot Road, as well as the State Route 24 extension.

“This Class A project will meet the needs of a wide range of corporate and advanced manufacturing users, from pharmaceuticals to the semiconductor industry,” said Moore. “JLL research shows that metro Phoenix ended 2021 with the strongest leasing activity on record, with almost 26 million square feet of space leased. The Southeast Valley represented 47.8% of those deals. This is a region that is primed for growth and IndiCap is well positioned to take advantage of, and continue to drive, that growth.”

Through their strong local relationships, the IndiCap team will continue their pursuit of prime industrial land in the Phoenix metroplex throughout 2022 and beyond. IndiCap has multiple new industrial projects in its pipeline totaling 37 buildings with over 8 million square feet spread out through the Loop 303 Corridor, Central Phoenix, Mesa, Gilbert and Casa Grande.

ORO VALLEY, Ariz. ––The Town of Oro Valley is excited to announce that the top 10 names have been selected, and online voting is now open for Round Two of Name OV’s New 202-Acre Outdoor Space! – the contest to name the soon-to-be acquired 202-acre outdoor property formerly known as the Vistoso Golf Course. Voters may select up to three of the 10 names (voting link and names below). One vote per person. Voting is restricted to Oro Valley residents only. For residency verification, a name and street address will be required when casting a vote. Voting will end at 11:59 p.m. on Sunday, May 8, 2022.
 
In Round One of the contest, members of the public were invited to submit name ideas. More than 1,500 unique names were submitted, and a five-member committee reviewed all submissions and narrowed down the list to the top 10. The committee included one representative from each of the following groups: Oro Valley Town Council, Oro Valley Town Staff, Youth Advisory Council, Parks and Recreation Advisory Board, Preserve Vistoso.
 
Once Round Two voting has ended, the three names with the highest number of votes will be put forth to Oro Valley Town Council for final selection at the May 18, 2022 Council Meeting. To eliminate bias, the names of the individuals who submitted entries will not be made public until Round Two voting has ended. The winner of Name OV’s New 202-Acre Outdoor Space! will receive a prize package, totaling more than $1,700.
 
To learn more about the contest process, rules and prize package, click here to read the contest announcement press release.
 
THE TOP 10 NAMES – ROUND TWO

• Catalina View Preserve
• Golden Sunset Preserve
• Mountain Vista Desert Preserve
• Oro Valley Desert Preserve
• Oro Valley Nature Preserve
• Sleeping Snake Heritage Preserve
• Tortolita Shadows Preserve
• Vista del Oro Preserve
• Vistoso Preserve at Oro Valley
• Vistoso Trails Nature Preserve

VOTE NOW!
 Click here to cast your vote

PHOENIX, ARIZONA ‒ Liv Communities, a Michigan-based developer of numerous amenity-rich multifamily and senior living projects in the Valley, and The Rockefeller Group, a U.S. real estate developer, owner and operator, recently broke ground on a 360-unit, garden-style apartment community in Laveen, Arizona.

“We’re thrilled to have broken ground with our partners at Liv on our fifth development together,” said Daniel J. Moore, The Rockefeller Group’s President and CEO. “We’re excited to bring a Liv community to the Southwest Valley and look forward to welcoming residents to their new homes at Liv Laveen next year.”

Nestled up against South Mountain, Laveen offers residents an urban feel and numerous parks. Many families and young professionals make up the population of about 51,000.

Residents of the new community will have access to the South Mountain recreational area, Cesar Chavez Park, the Loop 202, and a 15-minute drive to Phoenix Sky Harbor International Airport. Laveen also is 30 minutes or less to most employment hubs in Metro Phoenix.

“We are beyond excited to have a presence in the friendly and centrally located town of Laveen,” said Heidi Arave, Vice President of Multifamily for Liv Communities. “The beautiful setting at the base of South Mountain and convenient access to every area of the Valley via the Loop 202 expansion are attracting a diverse population and numerous new businesses. We see the area as a future live-work-play mecca, perfect for renters who want convenience, comfort, and a vibrant lifestyle.”

Amenities will include a bark park, resident hub, game room, fitness center, volleyball and sport court. The community will feature smart home technology throughout, EV charging stations and valet trash service.

The design and construction team includes Clark Wayland, general contractor; Whitneybell Perry, Inc., architect of record; and Anderson Design, landscape architect.

PHOTO CAPTION: Attending the ground breaking for the Liv Communities multifamily project in Laveen, Arizona, are (front row, left to right) Erin Mock, Mark Singerman, Heidi Arave, Beth Heath, and Scott Brooks; and (back row, left to right) Matt Winsryg, Tom Weeks, Jay Despard, Dave Klebba, and Dan Moore.