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The Dealmaker: 4/10/2018

Posted by   /  April 10, 2018  /  No Comments

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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 founder and president Jordan Rose on: Gov. Ducey to select 168 areas to become economic ‘opportunity zones.’ The Tax Plan created Opportunity Zones which Governor Ducey designated. This could be a game changer for capital deal flow. From Jordan Rose: “If you are facing capital gains taxes, this is a new investment vehicle that should be of intense interest. If you invest your gains in the right area of Arizona you can not only enjoy the success of your investment but, if you keep that investment for a decade, you can totally avoid capital gains. It should bring a monumentally positive shift in investment to parts of Pinal County and throughout Arizona.” http://bit.ly/2GQWVfQ  

Snowbowl attorney wants state Supreme Court to overturn ‘special harm’ ruling. “Attorneys for Snowbowl are warning the Arizona Supreme Court that if they don’t overturn a ruling allowing the Hopi Tribe to sue over artificial snow they are opening the door to a flood of litigation.” More from Howard Fischer in the Daily Courier.  http://bit.ly/2EAfHq6

Valley Partnership names four as honorary board members.Congratulations! to Sunbelt Holdings CEO John Graham who is among those named as “inaugural honorary board members.” Cheryl Lombard, president/CEO of Valley Partnership: “They have served on the governing board of directors for Valley Partnership and now we can look their strategic advice on issues of import to our industry and leverage their experience and expertise when needed.” Scottsdale Independent. http://bit.ly/2qn5esN

RUSH HOUR FOR HOME BUYING? – Buyer traffic rising as real estate agents report concern over mortgage rates, inventory. The hot topic remains “pent-up demand, especially in more affordable price points, given the persistent inventory shortage.’ ” However, the “threat of rising mortgage rates… had buyers even more frenzied in March.” Realtor.com® has highlights from the Credit Suisse survey, including the traffic index for Phoenix, where buyers are “willing to go further out to get a larger home.” http://bit.ly/2EB4XYd

Lincoln breaks ground on The Grand – Building Two. At 352,000 sq. ft. it is “one of Arizona’s largest ever office buildings to break ground as a purely speculative endeavor.” Built by Lincoln Property Company, The Grand Building Two will be situated within The Grand at Papago Park Center. For a rundown along with a — yes, grand — rendering of the 60-acre mixed-use project, tap to AZREhttp://bit.ly/2GSpiu0

Aerospace expansion heads to the East Valley. “[Orbital ATK’s] new Chandler campus will consist of two buildings totaling 617,000 square feet; the new site is located on 47 acres near the Loop 202 and Price Road.” Sonoran News reports that the new launch-vehicle facility will have a hand in such operations as “providing cargo to crews on the International Space Station, space and earth science, and in defending the nation.” http://bit.ly/2GOKIN3

Gilbert leaders praise ‘new humble beginning’ with Park University. “Gilbert officials have been courting higher-education tenants since Saint Xavier University announced it would step away from a 15-year lease less than a year after the town opened the facility in 2015.” Last week, the city “approved a lease agreement with Park University, which Mayor Jenn Daniels called a ‘momentous occasion.’” Meanwhile, Councilman Eddie Cook provided the meat for the ‘humble’ headline to this AZCentral report. http://bit.ly/2GNm3bF

Planet Fitness to open this summer in Queen Creek. A couple weeks back, Dealmaker brought news of a Planet Fitness opening in Maricopa. So we think it only fair to bring the same news for Queen Creek, as the town will ALSO see the opening of its very FIRST Planet Fitness — a 22,000 sq. ft. facility at 21545 S. Ellsworth Loop. Queen Creek Independent has much MORE on the new PF — to the point where you can almost feel the burn! http://bit.ly/2Ezo0T5

Apache Junction residents will have a vote on new proposed budget limitations. “Shall the expenditure base of the city of Apache Junction be permanently adjusted by $5,500,000.00?” That’s a question that will be on the August 28 ballot after it was recently approved by AJ City Council. AJNews reports that the “figure looks ahead to possible growth opportunities, such as incorporating… water treatment districts… as well as having funds ready if state or BLM land becomes available at auction.” http://bit.ly/2qlgHtS

Florence poised for quality growth, professionals say. • “Robust and dynamic growth in Florence looks inevitable” • “Economics are driving people this way” • “…opportunity to do some really good things…” • “…the stars are aligned” That’s just a sampling of what real estate professionals had to say at the Florence Economic Development Summit. More positive vibes in coverage of the event at Florence Reminder. http://bit.ly/2EAhoE1

Pollack: Strong economic activity continues. That is the big takeaway from this week’s Monday Morning Quarterback —despite both “weak and strong signals” in employment data. MMQ also unloads figures for these ‘Snapshots’ —> U.S.: Labor Market, Wage Growth & Weather, Manufacturing, Consumer Spending, Vehicle Sales, Construction. AZ: Listings & Resale Activity — Median Prices & Sales — Greater Phoenix. http://bit.ly/2Hc3m0t 

Valley’s Best Kentucky Derby Party getting here as fast as the horses – http://bit.ly/2HqEShJ

 

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


Rose Law Group Reporter’s Top 10 Last Words. Senior Reporter/Writer Phil Riske presents a list of last words from a handful of well-known Arizonans — some still living, some not so much. Either way, the list — to borrow a Charles Barkley-ism — will have them ALL “probably rolling in their graves.” http://bit.ly/2Hp9JLA

Billionaire Tom Steyer to spend $2 million on AZ youth vote initiative. “While Steyer has poured money into Democratic causes for several election cycles, this will mark the first year Arizona will be included in Steyer’s youth organizing movement NextGen Rising.” Arizona Capitol Times reports that the program is zeroing in on “keeping Democratic control” of Congressional Districts 1 and 9, and “flipping the 2nd Congressional District seat currently held by U.S. Rep. Martha McSally.” http://bit.ly/2qn0Zyj

The Fonz and the Fixer: Rose Law Group Reporter Notable Photoable.Another Phil Riske production — a look-alike photo piece — bookends the Newsmaker section and closes out today’s Dealmaker. So who is Fonzie’s spitting image? Is it Henry Winkler’s brother? His stand-in? Or is it actually an old pic of former Phoenix Suns all-star Paul Westphal? Or did “Notable Photoable” just jump the shark? Check it out! http://bit.ly/2EAIASS 

Skanska engaged in Phase One of EdgeCore Mesa construction Read more

Lennar to Sunset Farms Read more

Estrella Bolsters Home Builder Portfolio With Courtland Communities Debut Read more

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