It's Hot! Real Estate Around Phoenix-Mesa Gateway Airport

RACK up one more land deal in southeast Mesa - an announcement yesterday from AZ Big Media over the sale of a parcel sold by Demuro Properties [see history below]
CBRE sells 174 acres in Mesa for $19.55M

CBRE completed the $19.55 million land sale of 174 acres near Phoenix-Mesa Gateway Airport in Mesa, Ariz.

Real Estate | 18 hours ago | AZRE

 

 

 

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Blogger Note: There's a lot of history to all these land deals that you can read farther down after the press release. There are excerpts from an article by Mark Flatten that was published back in 2005 . . ."Sam DeMuro bought the Meridian land in 1982 for $3,000 an acre, his son says. The land north of the freeway was acquired a short time later, after a buyer defaulted on a deal that was financed by Sam DeMuro. . . "

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HERE'S THE PRESS RELEASE:

"Jason Hyams and Dave Headstream of CBRE’s Land Services Group represented the seller, Woodlands, Texas-based Eugene DeMuro.

The buyer was Signal Butte 24 LLC, formed by W Holdings and Freedom Communities, LLC.

Located at Signal Butte Road and Williams Field Road in Mesa, the site is part of a development called Destination at Gateway.

Originally planned for industrial, the land was recently approved and zoned for a mixed-use development and is pre-platted for 709 single-family homes, a for-rent housing component and retail. 

The land is located south of Eastmark and Cadence, two premier master-planned communities in the East Valley. Today, nearly one-third of Phoenix metro residents live in the East Valley, and population growth in the East Valley is projected to more than double the U.S. annual rate of growth (0.8 percent) over the next five years, according to CBRE Research.

“The location of this site coupled with the planned expansion of State Route 24 in the area, make this a premier spot for a mixed-use development comprised of retail and housing,” said CBRE’s Hyams. “After a several year process working with the buyer, seller and other parties to approve this use, we are thrilled to see this transaction come to a close.”

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HISTORY

Special Report Part 1: The Speculators

Part I - Land barons have locked up empty fields from Mesa to Florence

by Mark Flatten

www.eastvalleytribune.com/.../article_24d4ed3b-6046-5ff1-a9ca-d03ce8988e98.html

Oct 9, 2005 - Arizona was emerging from the real estate depression that hit in the late 1980s .... 

The DeMuro family may be the area’s ultimate long-term land speculators.

The family owns two sizeable chunks of land in the area. The one most prized by speculators is about 160 acres on the northern edge of the Santan Freeway at Sossaman Road. The second is a similar-size property at Meridian and Williams Field roads.
Ten years ago, the DeMuros would have been considered small players in the south East Valley’s land market. But with many of the larger tracts in Maricopa County now covered with asphalt, concrete and stucco, their land is among the prime undeveloped properties in the area.
Arthur DeMuro, who owns the land with his brother, Eugene, and sister-in-law Kathy, says they have no plans to sell or develop the properties.
The land was acquired by their father, Sam, who owned an aerospace manufacturing company in Phoenix in the 1960s.

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". . . A decade ago the far south East Valley was little more than raw desert and plowed fields, a refuge where those fleeing the crush of urban sprawl could still find open spaces and affordable homes.

Today, land barons hold thousands of acres in the nation’s hottest growth corridor. Each of those acres would have sold for about $30,000 in 1995. Today an unimproved acre can be worth $150,000 or more.
While hundreds of investors own land in the area, most of the major blocks of undeveloped properties can be tracked to a dozen or so individuals, families or investment groups, a Tribune analysis shows.
The East Valley’s land speculators generally fall into three categories:
• There are the old farm families whose parents and grandparents locked up large blocks of desert and converted it to fields. Streets throughout the East Valley bear many of their names: Ellsworth, Dobson, Lesueur, Sossaman and Schnepf.
• There are the traditional development companies that buy land with plans to cover it with houses or shopping centers. John Graham has been one of the most ambitious builders through his company, Sunbelt Holdings Inc. In 1995, Graham began building the 2,150-acre Power Ranch that runs for three miles south of Pecos Road along Power Road.
• Finally there are the pure land speculators. They are investors who use the land as a commodity. They have no ties to a particular patch of ground, as the farmers do; nor do they have plans to build on it themselves, as the developers do. They buy land and hold it. Some master plan it and get it zoned. Ultimately they sell it to builders and either pocket the profits or plow it into their next venture.

. . . Playing the land market in the south East Valley has paid off for the speculators who moved in early. Although public records do not reveal exactly how much money the land dealers are making, court records and other documents show that tens of millions of dollars are changing hands in single transactions as the speculators sell off hundreds of acres they locked up a decade ago.

Records also show the speculators are using some of that money to curry favor with the politicians who must approve their plans.
Development interests are the largest class of donors to political campaigns for city and town councils and county supervisors in the area, . . .

 

 

 

 

Protests erupting worldwide: What’s it mean?

Take a look at a few

Published on Jun 11, 2019

Views: 248,000+++

Protesters clashed with police in Albania, Moldova, Hong Kong and beyond as 500 demonstrators were arrested in Kazakhstan. Meanwhile, Colombia has opened its border with Venezuela. Political strategist John Jordan joins Rick Sanchez to share his insights.
Find RT America in your area: http://rt.com/where-to-watch/
Or watch us online: http://rt.com/on-air/rt-america-air/
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So Excited Over Real Estate > TALKING NERDY Embedding Sustainability in Real Estate Transactions

"Acquisitions and dispositions present a significant opportunity to create value through investments in energy efficiency, health, and building resilience. Understanding the potential value of a high-performing, sustainable building allows buyers and sellers to better assess and price the deal going in, to underwrite sustainability investments to drive higher returns, to market the value created by these investments to tenants, and to communicate this value to buyers when buying or selling an asset.

The potential value at stake for embedding sustainability is significant, and in some cases can represent a 50 percent–plus increase in asset value over the lifetime of an investment.
This ULI toolkit provides guidelines on how to incorporate the value of sustainability in transactions.
It includes best practices from more than 30 ULI real estate leaders actively involved in real estate transactions."
 READ MORE > Urban Land Institute
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Blogger Note: Keep in Mind F.I.R.E

• Finance
• Insurance
• Real Estate

2 Agendas: Mesa City Council Meetings Thu 13 June 2019 + mON 17 jUNE 2019

Details. So many details . . . so many details!
> One big ticket item - $12,000.000 for what?
> 3 Dollar-Limit Increases to Term Contracts for the Mesa Water Resources Department
> Creation of yet another Irrigation Water Delivery District
> Economic Impact of Falcon Field - believe the numbers?
> Mesa History Museum in Lehi ... how did it get there?
> The City's Uniform Video Service License Agreement
> More . . . .

City Council Study Session
Final Meeting Agenda Thu 13 June 2019 Roll Call (City Council members participate in person or by telephone conference call.)
1 Review and discuss items on the agenda for the June 17, 2019 regular Council meeting.

Meeting Name:

City Council

Agenda status:

Tentative

Meeting date/time:

6/17/2019 5:45 PM

Minutes status:

Draft

Meeting location:

Council Chambers - Upper Level

Published agenda:

Agenda

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HIGHLIGHTS FROM 17 JUNE 2019 COUNCIL MEETING
15 Contracts in Item 4

>> Items 4-l thru 4-n
Dollar Limit Increases to 3 Term Contracts for Water Resources Dept

Item 4-o
Ratification of the Emergency Purchase of Pump Rentals, Pump Control Panel, and Related Services for the Greenfield Water Reclamation Plant as requested by the Water Resources Department (Citywide)
The Greenfield Water Reclamation Plant (GWRP), Headworks Building flooded on April 15, 2019 due to an equipment failure at the plant. An Emergency Purchase for the needed services and equipment to get the Headworks Building operable was crucial to the operations of the plant. The Water Resource Department and Purchasing recommend ratifying the emergency purchase of equipment, materials, and services from various vendors and service providers, at $101,894.62. This purchase is 58% funded by the Towns of Gilbert and Queen Creek, and 42% funded by the Enterprise Fund - Greenfield WRP Joint Venture.

Attachments:

1. Council Report

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> 11 Resolutions  in Item 5
>   2 Ordinances in
     Item 6-a and Item 7-a

ITEM 6
Introduction of the following ordinance and setting July 1, 2019 as the date of the public hearing on this ordinance:
19-0675 ZON19-00064 (District 2) 
Within the 6000 and 6100 blocks of East Baseline Road (north side).  Located west of Power Road, on the north side of Baseline Road (6.8 ± acres). 
Rezoning from RS-43, LC-AF and GC-AF to RM-2-PAD-AF; and Site Plan Review. 
This request will allow for the development of a multi-residential use. 
Ralph Pew, Pew and Lake, PLC, applicant
Anthony Miachika, Pacific Rim Group, owner. 
Staff Recommendation: Approval with conditions P&Z Board Recommendation: Approval with conditions (Vote: 4-0)
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2 Presentations/Action Items:

• 19-0715 Hear a presentation and discuss an update on the programs and services provided by the Mesa Historical Museum. 2-a
• 19-0716 Hear presentation and discuss an overview of the Falcon Field Airport including its current year budget forecasted outcomes and FY19/20 projections, the updated Airport Master Plan, and the Airport’s Economic Benefit Analysis study. 2-b

3 Acknowledge receipt of minutes of various boards and committees.
19-0600 Economic Development Advisory Board meeting held on April 2, 2019.3-a

4 Hear reports on meetings and/or conferences attended.

5 Scheduling of meetings and general information.
_______________________________________________________________________2 Presentations/Action Items
ITEM 2-a 
Hear a presentation and discuss an update on the programs and services provided by the Mesa Historical Museum.

Attachments:

1. Presentation

What have we done so far?
Ten years of deferred maintenance, including patching and painting the exterior and interior of the school, repairing plumbing and electrical Repairing and recertifying fire suppression systems, and cleaning up the landscaping
Re-opened the Old Lehi School

IN PROGRESS
For 2021:

> An Exhibit on the History of the Hispanic community in Mesa

Fernando Guerrero Sr., Patricia Mendivil, Al Mendoza> A collaboration with the Mesa Police Department to provide a program on the history of Mesa and its communities to all new recruits
> Challenges!
Historic renovation of the Lehi Auditorium to make it available to the community
Long-Term Vision
To turn the Lehi Campus into a permanent exhibition site that will allow MHM to exhibit its many treasures and provide the City of Mesa with a usable community asset and the museum it deserves
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ITEM 2-b
Hear presentation and discuss an overview of the Falcon Field Airport including

• Current year budget forecasted outcomes and FY19/20 projections,
• Updated Airport Master Plan
• Airport’s Economic Benefit Analysis Study.

[8.13 MB] 

Attachments:

1. Presentation

FY 2019-20 Airport Enterprise Fund Budget and Activity Highlights
New Hangar Construction:
• 5,600 sf corporate hangar (Under Construction)
• 8,300 sf corporate hangar (In Design Review)
• 23-acre development with 340,000 sf large aircraft hangar space (In Design)
Completion:  Late 2021

Page 9: METHODOLOGY: Economic Benefits
 • Follow established FAA guidelines for economic benefit studies
 • Survey on-airport businesses and public agencies to measure value of output, employment,  and payrolls, for 2018 study period
• Include capital improvement spending as a source of benefits
• Identify “true transient” General Aviation activity and estimate visitor spending for overnight and one day visitors
 • Use input-output analysis to estimate secondary multiplier or “ripple effects”  that extend benefits across the regional economy

Page 12  TOTAL BENEFITS INCLUDING THE BOEING CO: $6.8 b
Why include Boeing, a privately-owned conglomerate, in a city-owned facility?
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3 Acknowledge receipt of minutes of various boards and committees
ITEM 3-a
Office of Economic Development Advisory Board Meeting on 02 April 2019 8 pages

Attachments:

1. 2019-04-02 City of Mesa EDAB Approved Meeting Minutes

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ITEM 5 RESOLUTIONS
5 Take action on the following resolutions:
19-0242 Levying the amount to be collected by a secondary property tax and the rate upon each one hundred dollars ($100) of assessed valuation of property subject to taxation within the City of Mesa for the fiscal year ending June 30, 2020. (Citywide)
The FY 2019-20 secondary property tax rate and levy are adjusted to fund public safety and parks and culture bonds authorized by Mesa voters in the November 2018 election.
*5-a

19-0705 Approving and authorizing the City Manager to adopt a form of Uniform Video Service License Agreement and a Standard Form of Application and Affidavit for the City of Mesa. (Citywide)
Changes to State law require that by July 1, 2019, local governments adopt a uniform video service license agreement and standard form of application and affidavit for such license that is consistent with recent changes to Title 9, Chapter 13 of the Arizona Revised Statues relating to video services.
*5-b

19-0673 Approving and authorizing the City Manager to sign an Agreement for the Mitigation of Reductions to NIA Priority CAP Water under the Drought Contingency Plan. (Citywide)
This Agreement governs how the Central Arizona Water Conservation will undertake mitigation of reductions in Non-Indian Agricultural priority Central Arizona Project water by making available certain specified water supplies or funding to impacted parties, including the City of Mesa, under the Colorado River Drought Contingency Plans and associated Agreements.
*5-c

Page 8 City of Mesa Printed on 6/11/2019
June 17, 2019City Council Meeting Agenda - Tentative

19-0670 Endorsing the creation of the Fraser Fields Irrigation Water Delivery District that is generally bounded by East University Drive on the north, East Pepper Place on the south, North Fraser Drive W on the west, and North Fraser Drive E on the east. (District 4) 
The formation of an irrigation water delivery district allows the District to make improvements and perform maintenance and operations of their irrigation system. 
Final designation of the District is determined by the Maricopa County Board of Supervisors.
*5-d

19-0668 Authorizing the City Manager to enter into an Intergovernmental Agreement with the Phoenix-Mesa Gateway Airport Authority. 
ACCESS THE INFORMATION PLEASE . . .$$$$ amount?

The Intergovernmental Agreement will provide reimbursement for three years of aircraft rescue and firefighting services by the Fire and Medical Department beginning July 2019 through June 2022. (District 6)
*5-e

19-0056 Authorizing the City Manager to enter into an Intergovernmental Agreement with the Town of Queen Creek for the design and construction of roadway improvements to Signal Butte and Meridian Roads. 
The City's portion of the project costs, of up to $12,000,000, will be reimbursed to the Town of Queen Creek. (District 6)
*5-f

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19-0720 Approving and authorizing the City Manager to prepare, sign, and submit applications to the U.S. Department of Housing and Urban Development to receive FY 2019/2020 entitlement funds under the Housing and Community Development Act of 1974 (CDBG), as amended, to fund activities approved by the City Council and authorizing disbursement of program funds if recieved. (Citywide)
*5-g

19-0721 Approving and authorizing the City Manager to prepare, sign, and submit applications to the U.S. Department of Housing and Urban Development to receive FY 2019/2020 entitlement funds under the HOME Investment Partnerships program (HOME), as amended, to fund activities approved by the City Council and authorizing disbursement of program funds if received. (Citywide)
*5-h

19-0722 Approving and authorizing the City Manager to prepare, sign, and submit applications to the U.S. Department of Housing and Urban Development to receive FY 2019/2020 entitlement funds under the Stewart B. McKinney Homeless Assistance Act of 1987 (ESG), as amended, to fund activities approved by the City Council and authorizing disbursement of program funds if received. (Citywide)
*5-i

Page 9 City of Mesa Printed on 6/11/2019
June 17, 2019City Council Meeting Agenda - Tentative

> 19-0723 Approving and authorizing the City Manager to disburse FY 2019/2020 Human Services funds for activities by non-profits approved by the City Council and to enter into agreements for the disbursement of Human Services funds. (Citywide)
*5-j
> 19-0718 Approving the FY 2019/2020 Annual Action Plan for submittal to the U.S. Department of Housing and Urban Development (HUD) and authorizing the City Manager to amend, sign, and submit the Annual Action Plan for FY 2019/2020. (Citywide)
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Hizzoner John Giles Makes The News

He even got a brief mention in the New York Times  today sounding a lot like Jeff Flake to hand out some advice:
". . . John Giles, the Republican mayor of Mesa, said Mr. Trump would win the state again, but he cautioned, “The president would be well served to soften his rhetoric when it comes to immigration if he wants to be successful in Arizona.”
HOLD ON!
Didn't Giles call Trump "an idiot" caught on open mic just a while ago?
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Story:
Tariff Fights Reveals Republican Divisions
in Up-for-Grabs Arizona

By Trip Gabriel June 11, 2019

President Trump at a rally in Mesa, Ariz., in October.

Arizona was once reliably Republican but is now increasingly up for grabs in elections.

Credit: Doug Mills /The New York Times

CHANDLER, Ariz. — "President Trump’s rancorous dispute with Mexico over tariffs and the border energized some Republicans and rattled others around the country last week.

But in few places were the stakes as high as in Arizona, once as reliably Republican as it can get, now increasingly up for grabs. And the reactions played out like a preview of the divisions the party could face in presidential politics and a key Senate race in 2020. . . "

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Hizzoner's own political future is on the line right here in Mesa - the increasing Latino vote finds it hard to relate to Giles. They could sway the next election not in his favor.

Mesa is also the home of Russell Pearce know for SB1070

 

 

Murdoch's WSJ Sensational Reveal: Nerve-Agent Slain Half-Brother of Kim Jong Un Was a Spy For The C.I.A

Mystery-fiction Spy thrillers can't beat this story! It's getting full exposure in real time right now all over.
15 hours ago Walter Strobel in the  Wall Street Journal     reported this if you want to try to connect some dots:
"There was a nexus” between the U.S. spy agency and Mr. Kim, the person said. Mr. Kim, the half brother of North Korean leader Kim Jong Un, ...
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5 days ago: here's the story with a video of the nerve-agent attack. Two women were on trial afterwards:

North Korean leader Kim Jong-un's slain half-brother Kim Jong-nam ...

https://www.scmp.com › News › Asia › East Asia

▶ 2:08

5 days ago - Uploaded by Associated Press

South Korean agencies said they could not confirm the report. The CIA declined to comment.

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 2 hours ago, NPR picked up on the thriller:

Kim Jong Un's Slain Half Brother Accused Of Being A Spy : NPR

https://www.npr.org/.../north-korean-leaders-slain-brother-was-reportedly-working-with...

2 hours ago - Kim Jong Nam, the half-brother of the North Korean leader who was killed in a nerve-agent attack allegedly ordered by Pyongyang, had been ...

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35 minutes ago:

WSJ: Kim Jong Un's Murdered Half Brother Was A CIA Source

https://talkingpointsmemo.com › News

35 mins ago - North Korean leader Kim Jong Un's half brother, who was murdered in an airport in Malaysia in 2017, was a CIA source, according to the Wall ...

 

 

FOX NEWS:

Intelligence Agency and met with U.S. officials a number of times.

Kim Jong Un's half-brother was CIA informant before his assassination ...

https://www.foxnews.com/.../kim-jong-un-half-brother-cia-informant-kim-jong-nam-rep...

Kim Jong Un’s half-brother was working as a CIA informant before he was brazenly murdered in a Malaysian airport in 2017, according to a report Monday. Kim Jong Nam, the late North Korean dictator Kim Jong Il’s eldest son, “met on several occasions with agency operatives ...

 

Nobel Laureate Romer Sees Effects of Uncertainty Dampening Investment

Decisions delayed - we're not watching WWF wrestling matches here where there's a winner one day and a loser next.
Trend is downward when the government manufactures UNCERTAINTY

Published on Jun 10, 2019

Views: 1,624 at time of upload

Jun.10 -- NYU Stern Professor of Economics and 2018 Nobel Laureate in Economics Paul Romer discusses the impact of uncertainty from trade, tariffs, and politics on markets and investing. He speaks on "Bloomberg Daybreak: Americas."