Investors Knock at Casa Grande’s Door
- Jun 19, 2015
The 1.75 million-square-foot PhoenixMart project that broke ground last November in Casa Grande is attracting attention from opportunistic investors. Spurred by the area’s rising economy, Siegel Group Nevada Inc. acquired a 483-unit extended-stay property for $8.3 million.
The PhoenixMart project is a global trade center designed to connect, facilitate and streamline manufacturing, retailing and wholesaling under the same roof. The project is expected to create more than 7,000 jobs and feature more than 2,000 manufacturers from a diverse group of industries, such as home and hotel; electronics and accessories; office and recreation; auto and industrial; and fashion and variety.
However, this project marks only the beginning of Casa Grande’s economic rebirth. Upon completion, the PhoenixMart project will anchor of the North American Logistics, Trade & E-Commerce City (NALTEC), a 585-acre, $1 billion, master-planned community that has been described as a model for the business hub of the future.
Image Courtesy of AZSourcing