Development
ViaWest believes in the long-term growth prospects of Phoenix and the entire Southwestern United States. We believe the quality of life, low cost of living, proximity to California, increasingly youthful demographics, entrepreneurial business environment, and the attractive climate will continue to draw companies and employees to the region. At ViaWest, we are positioning our development efforts to take advantage of this sustainable long-term trend.
Following is a sample range of our development offerings:
- R&D / Flex, suburban office, and Industrial Spec: Developing for-sale and lease multi-tenant industrial product in high growth sub-markets with increasing employment bases. ViaWest is currently in the final stages of a development in Chandler, Arizona of approximately 105,000 square feet of industrial/ office/ showroom condominiums. An additional phase is planned for approximately 85,000 square feet of additional space. ViaWest is also subdividing and developing lots and buildings on a 10 acre parcel at 71st Avenue and Northern.
- Build-to-suit: Developing tailored industrial and office properties for our clients´ growing real estate needs, on a lease, fee, and turnkey basis.
- Density Housing: Density Housing: Building or renovating niche town home or condominium communities in neighborhoods with high entry-level home prices. ViaWest's capabilities and experiences range from converting existing properties into condominiums as well as planning new multi-family communities.
- Land Development: Land development provides many of the best real estate investment opportunities in the Southwest. ViaWest´s land acquisition and joint-venture strategy is to take a value-added approach. Whether we ultimately sell the land or develop buildings on it, we only purchase land at prices and locations we can underwrite for our own ground-up development, thereby avoiding purely "speculative" land acquisitions. Typically, we take zoning and entitlement risk because our belief is that most zoned and entitled property is priced for users, not investors, while many of the non-local land investors who have driven up prices in the market do not want to go through the increasingly painstaking municipal zoning and entitlement process.
Currently ViaWest has three projects in the land development phase. The largest project is located in Goodyear, Arizona and encompasses roughly 135 acres. ViaWest is in the process of planning and entitling the property for vertical development. On a client´s behalf, ViaWest is also managing the zoning and development process for a 215 acre parcel near the emerging regional airport, Williams Gateway, in the Southeast Valley of Metro Phoenix.
ViaWest is currently leading the development of 215 acres in Mesa, Arizona. The property has been rezoned and entitled to a mixed-use project targeting office, industrial, retail and multi-family uses.
- 215 acre mixed use development with recent zoning change from M-1 to a combination of office, industrial, and retail in addition to likely multi-family
- SEC of Warner Road and Santan Freeway (202) at convergence of future SR 802 (Williams Gateway Freeway)
- Significant Ellsworth Road and Warner Road frontage
- Present plan shows approximately 750,000 s.f. of office, 750,000 s.f. of flex and general industrial, 400 apartment units, 150,000 s.f. of retail, and 300,000 s.f. of mixed use office and retail.
- Parcel or entire site presently for sale
ViaWest has developed and is currently developing other parcels in the Phoenix area ranging in size from 10 to 135 acres.