The City of Mesa has 11 census tracts that have been designated Opportunity Zones by the U.S. Department of Treasury. Last year on 12 Dec 2018 the City of Mesa released
Mesa Opportunity Zone Investment Prospectus
http://www.mesanow.org/news/public/article/2227
"Our Opportunity Zones provide a boost in returns for private, tax-free investment in low-income areas with economic need," Mayor John Giles said. "Investment in these areas will bring great benefit to our residents and private investors alike."
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- The Gateway Area Opportunity Zone [there are two designated as North, South]
- The Falcon District Opportunity Zone
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The map below highlights these tracts within the city boundaries.
The Aerial Mesa tool showcases what makes each district an ideal place to locate and grow a business, including the location of Opportunity Zones, Major Employers and Assets, New Development and Investments, and Development Opportunities.
To visit the Aerial Mesa tool and explore Mesa’s Opportunity Zones visit the links below:
Blogger Note: The Approved Census Tracts include
Census Tract 422641
Census Tract 817600
Census Tract 522800
To have a qualified investment in an Opportunity Zone eligible for the tax incentives two qualifications must be met:
- The investment must be made via a Qualified Opportunity Fund. An Opportunity Fund is a privately managed investment vehicle organized as a corporation or a partnership for the purpose of investing in qualified Opportunity Zone Businesses. The fund must hold at least 90 percent of its assets in such property.
- The investment must be derived from a gain in another investment and transferred into an Opportunity Fund within 180 days of realizing the gain.
The Gateway Area Opportunity Zone includes industrial and commercial development opportunities proximate to Phoenix-Mesa Gateway Airport, along the burgeoning Ray Road Business Corridor, and in the Pecos Advanced Manufacturing Zone, which also has the unique advantage of a streamlined entitlement process. Furthermore, investors can maximize the property tax incentives for qualified projects locating in Mesa's Foreign Trade Zone and the Military Reuse Zone, also located in the Gateway Area Opportunity Zone
To download or share the City of Mesa's Opportunity Zone Investment Prospectus, visit www.MesaAzOpportunityZones.com. If you would like to invest in one of Mesa's Opportunity Zones, please contact City of Mesa Economic Development Director Bill Jabjiniak at William.Jabjiniak@MesaAz.gov or Marc.Valenzuela@MesaAz.gov.
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"You have been hearing and reading about the new capital gains tax incentives associated with the Opportunity Zones and investors and developers are taking interest quick. SVN Desert Commercial Advisors has several properties listed in the Opportunity Zone and recently sold 20 acres of the original 92 acres in Mesa, AZ across the Mesa-Gateway airport for a $2.25M. "
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Here's the press release:
20 acres in Mesa Opportunity Zone sell for $2.25M
"The 20 acres are located on Ellsworth & Germann which is in a great location. With the expansion of ASU Poly Technic Campus and close proximity to the airport, there is a large amount of employment and new homes surrounding the site.
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Rommie Mojahed
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SVN Advisors Director of Retail Leasing & Sales Investments, Rommie Mojahed and Senior Advisor Beau Flahart represented the seller, Ellsworth 92, LLC in the transaction. A spokesman for the buyer, Abington Emerson Investments, LLC referenced this property as a “home run site” for developing spec industrial. Flahart stated, “The Opportunity-Zoned real estate is a massive “opportunity” for investors and developers. The buyer felt the location was in a perfect position to build in a thriving area with so much planned development ahead. “The groups that understand the incentives and take advantage of this are way ahead of the game,” said Flahart. The seasoned advisors have worked with the seller on a number of projects and work on a majority of their land holdings.
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Beau Flahart
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More importantly, SVN advisors still represent the seller in the remaining 72 acres at this same location off Ellsworth & Germann, which is only 1 mile south of Eastmark, the #1 best-selling master-planned community in the state of Arizona. Zoning allows for retail, office, and light industrial so developers will have plenty of opportunity to build."
In another related announcement:
Fujifilm breaks ground to expand its electronic materials facility in Mesa
March 1, 2019 at 10:59 am
Today FUJIFILM Electronic Materials U.S.A., Inc. (FEUS) broke ground for a major expansion of its manufacturing and development facility . . .
The Mesa site expansion is anticipated to take around 18 months and will comprise of approximately 85,000 SF of additional space in the form of five new buildings significantly expanding manufacturing, warehousing, R&D laboratory and office space . . . The project, expected to generate additional jobs in the area*, will soon begin construction on South Mountain Road and is scheduled to be completed in early 2020.
*Mesa Industrial Corridor
Reference > http://www.mesanow.org/news/public/article/2272
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