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PhoenixMart says main building core to be up by end of year

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  • PhoenixMart says main building core to be up by end of year
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August 5, 2016
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Karen Schutte
[bws_pdfprint display='pdf,print']
PhoenixMart rendering
PhoenixMart rendering

By KEVIN REAGAN, Staff Writer | Casa Grande Dispatch

CASA GRANDE — AZ Sourcing, parent company of PhoenixMart, expects construction on the project to take place rapidly over the next two months after the city of Casa Grande granted a building permit in June.

In an email statement sent from AZ Sourcing Chief Operating Officer Marshall Stahl, the company projected the wholesale center’s main building core to be up by the end of the year.

The accelerated rate of construction was attributed by Stahl to additional funding supplied by the company’s board members. PhoenixMart was expected to be funded through the EB-5 federal immigrant investor program, which hands out U.S. visas to foreigners that invest at least $500,000 in an American project, but that plan ran into problems.

The FBI reportedly was investigating one of PhoenixMart’s former investors during a raid of the company’s offices last November. The agency did not release details at that time on the reason for the investigation.

The Casa Grande Dispatch submitted a public records request to the FBI earlier this year, asking for information about the investigation. The FBI declined to release anything, citing an exemption that allows the agency to withhold records related to pending law enforcement proceedings.

AZ Sourcing appears to be moving forward from last year’s FBI investigation. The company mentioned that it has secured deals with various contractors to complete underground plumbing and electrical work.

The utility work is reportedly expected to be completed ahead of schedule, according to AZ Sourcing, with 15 percent of plumbing work already done.

Triad Steel Services, based in Phoenix, was hired this month by the company to provide thousands of tons of steel for PhoenixMart. Contracts with more subcontractors are expected to be finalized and announced soon.

To see full Casa Grande Dispatch article click here.

 

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