By Ken Sain | Arizonan
On the day after General Motors announced it was shutting down its Arizona IT Innovation Center in Chandler, a commercial real estate expert expressed concern for the Price Road Corridor.
“One of the big things that … we need to think about is what are we going to do with the Price Road Corridor, because we’ve seen PayPal has gone away, Liberty Mutual and now General Motors is going away,” Sam Kapur of Arizona Elite Commercial said at the Aug. 24 Chandler Chamber of Commerce’s Economic Update session.
“I think you’re probably going to be looking at close to a million square feet of space over there that is not occupied,” he added.
All is not doom and gloom, the city’s top economic development official contends.
“The notoriety of Price Road is still very attractive,” said Micah Miranda, who leads the city’s economic development office. “When we do get inquiries, they want to be on the Price Corridor, it has a caché. It is a major employment corridor within the Southeast Valley. Companies want to be there.”
GM’s announcement meant pink slips for 940 workers in high-paying jobs come October.
