Issue No. 1 1st Quarter 2007
Recent Changes Crismon Road will be the main access point from the
development to the I 60.
DMB Developments, one of
Phoenix largest high end As a result, our property gains tremendous exposure,
developers, announced a $240 leading our team to change the name from Crismon
million purchase of 3,200 acres Commons to …
approximately 2 miles south of
our project. “CRISMON GATEWAY”
General Update completion schedule with
any degree of accuracy
Planning and Approvals as we move through the
approval process, due to
DPA Architects have been response times from the
selected to provide the master city. We anticipate
site plan. After several revisions, approvals will coincide
the plan, including approximately with completion of off-site
85,000 SF of retail space and servicing.
114,000 SF of professional
offices, was submitted to the City Development and
of Mesa. Construction
Landscape vegetation lined spine As mentioned in the
connector roads will project a INVESTOR
recent e-mail update, the
village feel, while providing off-site services contract FIRST
smooth access and egress to
Crismon Road and Baseline
has been approved. REALTY
Road widening has been
Avenue. staked and the site Marketing update
grubbed and cleared.
The overview conference, the
Excavation for deep
next step for the plan, is The Phil Worth team at
metal and shallow
scheduled for March 14th, Logan Commercial
services is underway.
whereby the construction Advisers has been
department will provide It is anticipated that off- selected as marketing
comments and guidelines for the site servicing of the site agents for the office
architectural team. will be completed by component.
It is difficult to predict the Red Real Estate has been
selected to market the Retail In the Area forward”.
space after an interview process
that included Staubach and Phoenix city council has Arizona is the second
Phoenix Land Advisers. recently authorized a destination for domestic
$2.9 billion expansion of migration next to Florida
At present, escrow has been Phoenix Sky Harbour and eighth internationally.
opened for 6,000 SF of office International Airport. It is expected that Arizona
space to be used as an urgent will topple the projected
care clinic. The expansion program U.S. growth rate of 3% in
is to include construction 2007.
We have also agreed to terms of a new 33 gate terminal
with Philaberto’s Mexican to replace the aging Katie Pushor, president of
restaurant for 2,500 SF. A letter of Terminal 2, as well as a the Greater Phoenix
intent has been accepted and the $1.1 billion automated Chamber of Commerce
purchase contract is being train system. went on to say that people
prepared. are drawn to the state due
Critical to ensuring that to “an overwhelming
In addition, we are negotiating Sky Harbour Airport has perception of opportunity
terms of two LOIs, one with the ability to handle here”. Sectors such as
Purrfect Auto having 147 sites in growth in future healthcare, construction,
the Western U.S. Circle K, has passenger volume, retail and consumer
made an offer for 68,000 SF, Phoenix Mayor Phil services will focus on
planning for a state of the art gas Gordon is quoted as serving the growing
station. saying, “This is an population.
exciting opportunity to
We are pleasantly surprised at help this state and
the early interest in our project. community move
s for Mesa, the DMB purchase and development of 3,200 acres, along with 1,800 acres
GM sold to Phoenix developer William Levine, are expected to provide the foundation
for growth in the vicinity of the Williams Gateway Airport, generating 100,000 jobs over
the next 30 years.
The Arizona Commercial Market continues strong, particularly the rapid growth in the East
Valley. All indicators bode well for the Crismon Gateway project.
IFR Arizona is a leading developer of Commercial properties in the Southwestern United States.
Visit our web site at www.ifraz.com to view our properties. Contact us at firstname.lastname@example.org if you
have questions or ideas.