Major CRE centers move Arizona toward the future

By Roland Murphy | AZBEX

For the past several years, Arizona in general and the Greater Phoenix area in particular have been among the hottest spots in the U.S. for commercial real estate development. September’s BEX Companies Leading Market Series event outlined for attendees how and why – even in this booming market – some spots are hotter than others.

Led by moderator Martha de Plazaola  Abbott – principal and managing director at Gensler – a panel of three representatives from Arizona’s most booming CRE areas explained their visions, challenges and hopes for the future.

The panel consisted of:

  • Brian Kearney, first VP at Catellus Development Corporation;
  • Scott Phillips, VP at Carefree Partners, and
  • James Smith, economic and workforce development director for Pinal County.

After introducing the panelists to the room, de Plazaola  Abbott gave each presenter the opportunity to briefly discuss their master plans and major projects, update their statuses and explain their places in the future of Arizona growth.

Kearney explained the history of the Catellus/Arizona State University partnership in establishing theNovus Innovation Corridor in Tempe and brought attendees up to speed on the 10MSF-plus project’s status and future direction. At buildout, Novus is expected to generate an annual economic impact of $4.6B and include 4,100 residences, more than 1,000 hotel rooms and 4.5MSF of office space.

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