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The Dealmaker: 11/15/2017

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox



Rose Law Group searching for… High energy project manager and/or planner to add to our highly motivated project management team. If you know someone (or you are that someone) please send resume in confidence to HR Director, Hslaughter@roselawgroup.com. While we’re at it, Rose Law Group is also looking for a smart, careful real estate transactional attorney with a positive attitude with between 3-6 years experience. Send the resume!

Rose resigns as Maricopa City Manager. “Gregory Rose announced… Tuesday morning his intention to leave for a similar position in University City, Missouri… The development of Maricopa’s 2040 Vision, the completion of Copper Sky and the pending overpass on John Wayne Parkway across the Union Pacific Railroad tracks are three of the accomplishments he’s most pleased to have been a part of…” Mayor Christian Price: “I think we’re all sad to see him go…” More on Rose’s accomplishments — and his departure — at InMaricopa. http://bit.ly/2huIqTQ

San Tan Valley discusses developing area plan. Do residents want “to continue developing as primarily suburban and rural residential”? Or do “they want new types of development coming in”? “[Pinal County recently] presented three hypothetical [Special Area Plans] for San Tan Valley and asked for comment on each. The selected plan will be revised based on feedback and eventually adopted by the county Board of Supervisors.” Check out maps of the three “Scenarios” and find out what kind of impact “incorporation” might have on the chosen plan, in San Tan Valley Sentinel. http://bit.ly/2z3yFY5

Coolidge gives go-ahead for Cornman Annexation. “The land, part of the sale between the city of Mesa’s water farm and Pinal Land Holdings, is among several properties at the center of a potential amendment to the city’s 2020 General Plan designed to alter the land use for approximately 857 acres from Urban Neighborhood to Industrial and Manufacturing.” Why the change and why now? The answers in Coolidge Examiner. http://bit.ly/2zMc3s4

Company uses web app to build quick, affordable custom homes. “In North Carolina, Sundog Homes… has implemented an interactive web tool that allows potential customers to add the features and spaces they would like, make notes directly on the plan, and immediately receive an estimate.” And, as the subhead to this report from Builder puts it: “Starting at $179K, a Sundog-Express home hits a market sweet spot.” http://bit.ly/2A1xPv9

HPPI: Quicken Loans study shows less than 1% difference between owner and appraiser opinions of home values. “This marks the fifth-consecutive month the gap between the two value opinions narrowed. Also, the HPPI is now the closest to equilibrium it has been since April 2015.” To turn your mind on to how the Phoenix HPPI is spacing out, trip on over to PRNewswire. http://bit.ly/2zGHI0R

OSB price declines consistent with Random Lengths data. “The price of [Oriented Strand Board] fell 1.0% in October, in contrast to prices paid for softwood lumber (+2.3%), gypsum products (+0.3%) and ready-mix concrete (+0.2%)… While the monthly decline is welcome news, OSB prices remain 12.9% and 37.0% higher than they were at the beginning of 2017 and 2016, respectively.” Eye On Housing. http://bit.ly/2zHEUjj

With nod to roots, developers plan to retrofit Park Central Mall into modern cool. “When Park Central Mall opened in 1957, the cars packed into the parking lot had fins, Elvis Presley’s ‘Jailhouse Rock’ was on the radio and shoppers were riding the escalators at a gleaming, two-story Goldwater’s department store… About 1.5 million people later, the shine on the once-vaunted mall has dulled, its anchor tenants long gone… [But now, developers] and Phoenix planners are plotting a comeback…” Cronkite News takes a look at what’s in the works to “draw crowds again.” http://bit.ly/2ANcUci

Report: Phoenix hits late stages of real estate expansion cycle. Several years of expansion in the CRE market have given way to signs of slowing during the third quarter. “Office property sales dipped… Medical office condo sales slowed… [S]hopping center sales…decelerated… This is according to a report… by Colliers International…” Still, there were a couple of bright spots: “Sales of industrial properties” and “Non-condo medical office buildings.” Get the sales figures and access the full report at AZRE. http://bit.ly/2iZ2cHD

‘Waiting for the other shoe to drop’: How stocks and Trump still create jitters for real estate and economy. “3 percent GDP growth, unemployment is at a 17-year low, corporate earnings are strong and the Dow Jones… and stocks have been hitting record highs… But Mark Singerman said economic sentiment isn’t necessarily helping spur real estate and business decisions.” In this subscriber-content piece from PBJ, the Rockefeller Group exec raises concerns about a possible downturn in the stock market and bumps ahead for the economy, just as the real estate market in Arizona gets “pulled in some different directions.” http://bit.ly/2AOJWsx

Superior Court dismisses Stuart TPC Scottsdale allegations, lawsuit. “In summer 2014, [Mark] Stuart, along with resident John Washington, filed a lawsuit in Superior Court alleging financial arrangements surrounding TPC Scottsdale improvements made two years prior to the 2015 PGA Tour stop in Scottsdale was in violation of [the state’s gift clause and the municipality’s anti-subsidy provisions].” On Nov. 1, the “case was dismissed.” In a statement, the city says it “is pleased that the court, after hearing all the evidence, has determined that the city’s actions were well within its lawful authority.” READ MORE about the case in Scottsdale Independent. http://bit.ly/2z54lMQ

Falcon Field pursuing biomedical tech campus development. “Mesa officials expect to put out an RFP by the end of November to officially kick off the search for a developer for Falcon Tech Center, a proposed biomedical campus that would be home to medical, biomedical and medical device companies… Falcon Tech Center will sit on about 70 acres of Falcon Field property west of Greenfield Road that is currently home to a citrus grove…” Further details and rendering of what it might look like at East Valley Tribune. http://bit.ly/2z3YKq3

Behavioral-health facility makes third attempt to build in Gilbert.“Kentucky-based Springstone proposes to open Copper Springs East near other medical facilities, including Mercy Gilbert Hospital. In 2013, residents twice defeated the proposed facility, saying it would be too close to neighborhoods and an elementary school. ” However, AZCentral reports that there’s hope the third time will be the charm. http://bit.ly/2jvwvK1

Oops, Yavapai County considers buying three lots where developer accidentally put a road. The Daily Courier previews today’s Yavapai County Board of Supervisors meeting in Cottonwood. The board is expected to entertain the purchase of “three lots in the Lake Montezuma Hills subdivision” where an “unknown developer of the subdivision put in a road, East Stardust Circle, that cut across the three lots,” and where “homes and utilities have been constructed on and around the road.” http://bit.ly/2hwiaJ7

Survey says: Scottsdale earns 2017 Voice of the People award. For? “Excellence in Economy, which is a national recognition for communities that earn the highest ratings among communities participating in the National Citizen Survey… [R]esidents rated seven of eight aspects of ‘economy’ higher than national benchmarks, and they feel that economy is one of the most important facets of community livability.” Scottsdale Independent. http://bit.ly/2AI4QsA

Realtor. com finds itself at center of Sean Hannity advertiser controversy. “On Sunday, Realtor.com’s Twitter account replied to a question about its advertisements on Fox News and Hannity’s program, stating that the website would no longer be running ads on Hannity’s show.” (Other “companies pulled ads because of Hannity’s response to the sexual assault allegations made against Roy Moore, the Republican Senate candidate from Alabama.’) But now, HousingWire reports that the “tweet isn’t even there anymore. It’s deleted. And Realtor. com has no plans to stop advertising on Fox or on Hannity’s show.” http://bit.ly/2zIVDTG

Dealmaker BONUS: Meet the Rose Family. Rose Law Group founder and president, Jordan Rose, talks about the firm that bears her name, life in general, her favorite restaurant, and more, in Life in Paradise Valleymagazine. http://bit.ly/2AJe73r

As a supplement to the Dealmaker, we thought you might enjoy these articles!


Arizona faith leaders call on McCain, Flake to fight repeal of Clean Power Plan. “Arizona faith leaders, from rabbis to imams, on Tuesday, chastised Arizona Sens. John McCain and Jeff Flake for supporting the [EPA’s] repeal of a rule limiting carbon emissions from power plants.” And here’s Sen. McCain, from a statement back in October: “This onerous rule would have created millions in compliance costs for Arizona utilities, which would have been forced to pass on costs to Arizona consumers in the form of high monthly energy bills…” Cronkite News. http://bit.ly/2zIJJsI

‘Arizona Capitol Times’ recognizes McCain, others as 2017 Leaders of the Year in Public Policy. “[Sen. John] McCain, who has represented Arizona in Congress since 1987, was unanimously chosen in the category of Lifetime Achievement. Lobbyist Chuck Coughlin, who was finance director of McCain’s first U.S. Senate campaign, said Arizona’s senior senator has lived up to the tradition of public service carved out by the likes of Barry Goldwater… Arizona Capitol Timesrecognized more than two dozen individuals and groups, for advancing public policy in ways that positively affect the lives of Arizonans.” Tap through for the full list of awardees. –> http://bit.ly/2mtmyOi

House Speaker open to ‘grand bargain’ over Voter Protection Act. “[House Speaker J.D. Mesnard] said he would be open to making it easier for the state’s voters to circumvent the Legislature and pass laws by way of the ballot in exchange for easing restrictions [in the Voter Protection Act] that prevent the Legislature from tweaking those same laws.” (Also from Arizona Capitol Times, this RELATED item: “Attorney general says counties can maintain own voter rolls.”) http://bit.ly/2AJ5XIs

Diamondbacks’ Torey Lovullo named National League Manager of the Year. “Lovullo, whose Diamondbacks won 93 games and advanced to the NL division series in his first year on the job, received 18 of 30 first-place votes from the Baseball Writers Association of America.” (A special note to avid D-Back fans: A year or so ago, a smart aleck around Dealmaker HQ was making wisecracks about the D-Backs and the team’s prospects for the then upcoming 2017 season. As the season unfolded, however, those snide comments subsided. You should be comforted to know that this latest headline should keep such snide remarks at bay for quite a while longer.) http://bit.ly/2zK8sNc

Phoenix Office Market Slows in Third Quarter Read more

First-time Buyers Stifled by Low Supply, Affordability: 2017 Buyer and Seller SurveyRead more

Phoenix Industrial Market Surging with Activity Read more

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