The subject site is located at the Southwest Corner of Interstate 17 and Pinnacle Peak Road. The site enjoys excellent access to Interstate 17, along with scenic views at the foot of Adobe Mountain. The composition of surrounding land uses includes single-family development, retail and commercial development, regional employment centers, and industrial employment hubs. The State of Arizona also maintains significant open spaces surrounding the subject property.
Examples of demand generators and submarket attractions are as follows:
Honeywell: Honeywell has three facilities in proximity of the property; one installation near Deer Valley Airport, one plant at the northeast corner of 49th Avenue and Union Hills Drive, and a facility at the southwest corner of the Interstate 17 and Loop 101 Freeways.
Deer Valley Airport / Airpark: Located north of Loop 101 and east of the I-17 Freeway, Deer Valley Airpark is one of the primary job hubs in Metro Phoenix. Deer Valley Airpark's reported current inventory is comprised of approximately 100 commercial buildings with over three million square feet, plus flex and industrial buildings totaling over seven million square feet.
PetSmart, Inc: Headquartered near Interstate 17 and the Loop 101 Freeways. The company employs an estimated 1,700 workers at this site.
American Express: American Express has two nearby campuses employing about 4,000 workers reportedly.
Discover Card: Located about 1.6 miles south of the subject site, the Deer Valley Campus employs over 2,000 people.
Waste Management: Waste Management of Arizona (WMAZ) located on 19th Avenue just north of Deer Valley Road provides waste and recycling services to thousands of customers. WMAZ employs nearly 1,000 people and services nearly 500,000 customers throughout Arizona.
USAA Campus: A leading insurance and financial services firm located at the Interstate 17 Freeway and Happy Valley Road in North Phoenix. The company currently employs an estimated 4,000 workers at the site. The USAA campus is situated on 640 acres and is planned for significant long-term expansion.
Metro Center: Situated at Interstate 17 and Peoria Avenue, this regional mall was acquired by Carlyle Development Group in 2012 and is currently being repositioned.
Thunderbird School of Global Management: Thunderbird School of Global Management / ASU is a graduate business school and is located southwest of the subject site. Thunderbird consists of approximately 1,400 students, 70 academic staff members, and offers concentrations in global finance, marketing, management, development, and an MBA in Global Management. Thunderbird is consistently highly ranked by the Financial Times in Global MBA Rankings.
Midwestern University (MU): Located northwest of the property off of Loop 101 and 59th Avenue, MU opened its 144-acre campus in 1996. Currently, the school enrolls approximately 1,800 students, with enrollment projected to reach 2,500 students by 2020. MU employs nearly 400 faculty and staff members and has recently invested $150 million on expanded degree programs and the construction of a dental school, additional classroom space, and a student services and recreation center at the campus. In 2008, MU officially began its dental program, while a new doctor of optometry program began in the fall of 2009. The optometry program is the first in the state and one of only 18 nationwide.