Development estimated to create upwards of $60B in economic impact at buildout. A 37,000-acre master-planned community in the West Valley that will include 119,000 homes and 59 million square feet of commercial and retail space. He estimates the project will cost $8 billion to $10 billion to develop over the next 25 years and become home to 300,000 residents.
Andersen Corp., a Minnesota-based window and door manufacturer, will open a $105 million manufacturing and distribution campus in Goodyear, company officials said Tuesday.
The first phase initially will include 500,000 square feet of manufacturing and distribution space and is expected to begin construction in early 2019. The campus is expected to be operational by mid-2020.
Microsoft Corp. has bought 272 acres of land in Goodyear, west of Phoenix, for nearly $48 million.
The Redmond, Washington, tech giant bought the land on the southwest corner of Maricopa County 85 and Lower Buckeye Road in the Airport Commerce Center.
Arizona is poised to add 1 million new residents between now and 2026 as well as more than 500,000 jobs to continue growing the state’s economy.
The statistics, from the Arizona Office of Economic Opportunity, paint a picture of a state once waylaid by the Great Recession as it continues to find its economic footing, according to a report by the Arizona Republic.
Those numbers would see the biggest growth in Phoenix and Maricopa County, already the state’s most populous region. The population is expected to grow from about 4.9 million to 5.5 million in the metro area during the next eight years.
The state’s population likely would rise to 8.1 million by 2026.
A 554,000-square-foot industrial development is planned for a 39-acre vacant parcel in southwest Phoenix. Trammell Crow Co. acquired the land for $5.5 million with plans to build the West 202 Logistics Center along 59th Avenue and Lower Buckeye Road.
Construction on the industrial complex is scheduled to begin in the third quarter of 2018. The building will be 960 feet by 570 feet and will have a 36-foot clear height, a spokeswoman for Trammell Crow said in a statement. The site will allow for 160 trailer parking spaces as well as parking availability for cars.
The site will be near a freeway interchange for the future Loop 202 extension, which is set to be completed in late 2019. According to the Arizona Department of Transportation, between 117,000 to 190,000 vehicles daily are forecast to use the freeway by 2035.
In the Phoenix Business Journal’s Largest Employers list, published Friday, the top 50 on the list currently account for 391,238 full-time jobs.
On a companywide basis, those firms and organizations provide 5.7 million full-time jobs.
The 10 largest employers on this year’s list included three health care specialists, two universities, two governmental organizations, one bank, one defense contractor and one retailer. Together they employ 202,964 full-time employees. For the first time in more than a decade, the state of Arizona was not the largest employer in the state. The state added 1,345 jobs to its 2017 total, while Banner Health added 9,110 jobs and went from second to first in the rankings.
Arizona has more than 8,000 technology companies operating in the state, with a growing tech workforce of more than 168,200 jobs, a new Arizona Technology Council report found. The tech community has seen a 1.38 percent employment growth, which ranks the state second in the Southwest and ahead of California, according to the report.
The Avondale Commerce Center off Interstate 10 near Dysart Road was sold by iStar Inc. to Presson Corp. The development has 13 buildings totaling more than 590,100 square feet spread across almost 48 acres. The property can accommodate a variety of users with space requirements ranging from 2,463 square feet up to 78,790 square feet. Attractive features such as detail to architectural aesthetics, high office ceiling clear heights and spacious landscape grounds make Avondale Commerce Center a desirable location for tenants.
Nikola Motor Co. has picked Arizona for a $1 billion, 2,000-job manufacturing plant and will also move its research and development and headquarters operations to Buckeye.
The plant will be west of Phoenix and sit on 500 acres.
Nikola will make hydrogen-electric semi-trucks at the planned Arizona facility.
Nikola is now based in Salt Lake City and makes electric and hydrogen-electric vehicles and parts.
Irwin G. Pasternack AIA + Associates PC and Pasternack Properties has broken ground on the 1.1 million-square-foot industrial building off 83rd Avenue near Interstate 10 and the Loop 101 in west Phoenix. The TEN Distribution Center 1 is the first phase of a larger 3.6 million-square-foot, $300 million industrial park on one of the large commercial real estate parcels in the region.
Construction is slated to be completed this summer and the building will have 40-foot ceilings. The Ten development sits on 215 acres.
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