Scottsdale Phoenix Paradise Valley
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STATESMAN TOSCANA MONTREUX APARTMENTS SUBJECT DEER VALLEY DRIVE ±5.47 Net Acres DESERT RIDGE MARKETPLACE Parcel SKB HIGH STREET Proposed Rendering COMING SOON TO HIGH STREET NAANKINGS INDO CHINESE CUISINE Mixed-Use 56TH STREET r---- 0 ,0 SENIOR/ACTIVE ADULT MULTIFAMILY SITE AVAILABLE FOR DEVELOPMENT NWC 56th Street & 101 Freeway • Phoenix, Arizona David Fogler Steven Nicoluzakis Executive Managing Director Executive Managing Director 602.224.4443 602.224.4429 [email protected] [email protected] Senior/Active Adult Multifamily Development Site CITY NORTH | NWC 56TH STREET & 101 FREEWAY | PHOENIX, ARIZONA THE OFFERING Cushman & Wakefield is pleased to present a unique opportunity to obtain a ±5.47 net acre senior/active adult multifamily development site located within the Desert Ridge Master Plan, strategically sandwiched between High Street and Desert Ridge Marketplace, at the corner of 56th Street and the 101 Freeway, in Phoenix, Arizona, known as City North. At completion, City North is planned to encompass 1.8 million square feet of corporate office, 2,885 residential units, 620 hotel rooms and up to 100,000 square feet of accent retail includingSenior new restaurant / Active concepts. Adult Parcel Map Existing Traffic Site Details Signal Zoning: PAD, City of Phoenix 140’ ROW Multi-Use Trail Underpass to J.W. Marriot Site Area: ±5.47 Net Acres / ±238,273 Square Feet 20’ Landscape Easement 35’ Building Setback Tax Parcel: 212-32-100C (portion) Desert Ridge Marketplace Parcel L & SKB DEER VALLEY ROAD 3 Miles 5 Miles ±290’ Demographics* t n e m e Population (2018): 66,556 191,246 s a E 404 Deliniation y t i l i (Underground Pipe) Population (2023 Projection): 72,819 207,713 t U ’ 8 Parcel SKB Total Daytime Population (2018): 62,577 227,038 SUBJECT Households (2018): 27,917 77,359 53RD STREET Households (2023 Projection): 30,604 84,020 5.47 Ac (net) Legend CITY NORTH DRIVE ±610’ Parcel SKB Open Space Easement Average Household Income (2018): $108,858 $104,048 4.64 Ac (net) Building Setback Easement HIGH STREET Stormwater & Utility Easements Average Home Value (2018): $410,236 $410,417 Asphalt Trail 110’ Access Parcel SKB Concrete Sidewalk Easement Total Businesses 1,935 9,489 5 2 N D W A Y Overhead Powerline Pole Street Light Existing 3-Way Stop Total Employees 27,234 108,167 Future 4-Way Fire Hydrant Traffic Signal Existing Bus Stop P A R K Existing Mature Trees P L A Traffic Counts* C E North of Loop 101 on 56th Street: 14,000 vehicles per day 27 August 2019 N:\01\0106367\Graphics\Exhibits\City North Sales Map L&E2.indd South of Loop 101 on 56th Street: 7,000 vehicles per day East of 56th Street on Loop 101: 151,135 vehicles per day West of 56th Street on Loop 101: 154,759 vehicles per day *Source: Esri 2019 SeniorSENIOR/ACTIVE / Active Adult ADULT Parcel PARCEL MapMAP Existing Traffic Signal 140’ ROW Multi-Use Trail Underpass to J.W. Marriot 20’ Landscape Easement 35’ Building Setback Desert Ridge Marketplace Parcel L & SKB DEER VALLEY ROAD ±290’ t n e m e s a E 404 Deliniation y t i l i (Underground Pipe) t U ’ 8 SUBJECT Parcel SKB 53RD STREET 5.47 Ac (net) Legend CITY NORTH DRIVE ±610’ Parcel SKB Open Space Easement 4.64 Ac (net) Building Setback Easement HIGH STREET Stormwater & Utility Easements Asphalt Trail 110’ Access Parcel SKB Concrete Sidewalk Easement 5 2 N D W A Y Overhead Powerline Pole Street Light Existing 3-Way Stop Future 4-Way Fire Hydrant Traffic Signal Existing Bus Stop P A R K Existing Mature Trees P L A C E 27 August 2019 N:\01\0106367\Graphics\Exhibits\City North Sales Map L&E2.indd Aerial Map Looking West Upscale Desert Ridge is a popular shopping area, with independent boutiques along High Street and well-known brands at the open- air Desert Ridge Marketplace. Dining ranges from steakhouses and gourmet burger chains to fun little Mexican cantinas. DEER VALLEY SKY CROSSING By Taylor Morrison & Pulte Homes WILDFIRE GOLF CLUB DESERT RIDGE SUBJECT COMING SOON TO HIGH STREET MARKETPLACE NAANKINGS INDO CHINESE CUISINE Office DEER VALLEY DRIVE STATESMAN Office TOSCANA Core Residential Core HIGH STREET City North Boulevard Mixed-Use Mixed-Use 56TH STREET Proposed Rendering Aerial Map Looking Northwest DEER VALLEY DEER VALLEY SKY CROSSING By Taylor Morrison & Pulte Homes By Taylor Morrison COMING SOON TO HIGH STREET JW Marriott Phoenix Desert NAANKINGS INDO Ridge Resort & Spa WILDFIRE DESERT RIDGE SUBJECT CHINESE CUISINE GOLF CLUB MARKETPLACE STATESMAN TOSCANA Office DEER VALLEY DRIVE MONTREUX APARTMENTS HIGH STREET Office 56 NORTH Core Residential APARTMENTS Core Mixed-Use City North Boulevard Mixed-Use 56TH STREET Proposed Rendering CITY NORTH’S SENIOR/ACTIVE ADULT PARCEL IS CONVENIENTLY LOCATED BETWEEN HIGH STREET AND DESERT RIDGE MARKETPLACE SKY CROSSING SANCTUARY 56TH STREET PINNACLE PEAK RD Homes by Taylor Morrison and Pulte Homes Developed by Taylor Morrison To be completed Over 1,200 homes planned, 400± completed Completed in 2016 to Pinnacle Peak in approximately to date 219 homes 14-24 months Average value of $700,000 Prices range from mid $300s to low $500s STATESMAN TOSCANA JW MARRIOTT RESORT $200 million luxury residential real estate TWO 18 HOLE GOLF COURSES Arizona’s 2nd largest resort 53 acres, 7 existing buildings at Toscana 6 fl oors, 950 rooms, 81 suites e Luxe at Desert Ridge will have 223 Over 1,000 employees condominiums upon completion, starting 200,000 SF of ballroom space from $550,000. 1st phase starts January 2019 e Montrequx will have 335 apartments upon completion and opens Q2 2019 BLACK MOUNTAIN BLVD MOUNTAIN BLACK THE MARKETPLACE 56TH ST REACH 11 SPORTS COMPLEX D.R. HORTON ±1.2 million SF SUBJECT Largest soccer complex of its $50mm renovation in 2018 D.R. Horton purchased property in 2018 DEER VALLEY RD PARCEL RD SCOTTSDALE kind in Arizona Over 60,000 visitors per day Upon completion, will have over 900 homes 18 regulation-sized fi elds ±269 acres of land appraised at $54 million 100’s of local and national CAMBRIA HOTEL & HOLIDAY INN tournaments played annually Completed in 2017 Cambria: 130 guest rooms Holiday Inn: 104 guest rooms MARQUIS AT DESERT RIDGE/ 56 NORTH APARTMENTS FULL DIAMOND INTERCHANGE Two apartment complexes MIM (MUSICAL INSTRUMENT MUSEUM) ARIZONA STATE ROUTE 101 Marquis: 370 units completed in 2014 HIGH STREET 56 North: 344 units completed in 2015 Starting in 2019, a new Largest museum of its type in the world lane will be added in each Over 250,000 visitors per year ±628,000 SF FULL direction, from Frank ±200,000 SF with 2 fl oors of galleries 99 residential units and DIAMOND ASU PARCEL Lloyd Wright to the I-17 and a 299-seat theater ±330,000 SF of Class A INTERCHANGE offi ce space plus ±196,000 1st 165,000 SF building under construction CAMDEN NORTH TATUM BLVD TATUM SF of retail space Planned medical technology campus END APARTMENTS 32ND ST Campus at buildout will be 1,500,000 SF MAYO BLVD Built in 2018 Expected to generate up to 30,000 jobs ±600 apartments CAVE CREEK RD CREEK CAVE REA CH 1 1 RE ARIZONA HORSE LOVERSC PARKRE AMERICAN EXPRESS ATI PARADISE VALLEY COMMUNITY COLLEGE ON W A ±50 acre equestrian park LKIN Currently 5,000 empoyees G/ CY Over 9,500 students Features 4 covered and lit arenas, a C±300,000LIN SF expansion is under lit practice paddock, water troughs, construction,G T which will house 3,000 JLB APARTMENTS RAIL ca le pens and various trails additional employeesS (totaling 8,000) 300 apartments COMMERCE under construction MAYO CLINIC HOUSING PARADISE RIDGE $650mm planned expansion, doubling its COLLEGE size and adding 5,000 more employees Homes by D.R. Horton SLATE SCOTTSDALE Currently over 7,000 employees 262 lots, ±1,780 SF to ±3,478 SF RECREATION Built in 2016 3,600 estimated visitors per day Over $41mm in sales to date 278 apartments PLANNED STREET EXPANSIONS TOTAL EMPLOYMENT CURRENT ±70,000 employees NEW ±40,000 jobs SOURCE: ESRI 2018 TOTAL HOUSING CURRENT ±20,000 homes NEW ±3,000 under construction DESERT RIDGE OVERVIEW 5 Senior/Active Adult Multifamily Development Site CITY NORTH | NWC 56TH STREET & 101 FREEWAY | PHOENIX, ARIZONA DESERT RIDGE OVERVIEW Desert Ridge is a vibrant 5,700 acre Master- and Hospital. American Express is under theatre as well as a Dave and Buster’s gaming Planned Community, located in Northeast construction on a new 300,000 square foot center. The development is home to over 110 Phoenix. As one of Arizona’s largest building expanding its current employee base retailers, including a variety of specialty stores communities, it is expected to ultimately reach of 5,000 to 8,000. and restaurants, and is visited by over 7 million 50,000 residents. The community boasts cars annually. an amazing assortment of amenities and Mayo Clinic Hospital. The Mayo Clinic opportunities for it’s residents, as outlined Hospital features three hospitals on the High Street. Adjacent to the subject here: campus. The Mayo Clinic Hospital has 268 property is High Street, totalling 628,000 licensed beds with 21 operating rooms, and square feet including 330,000 square feet of Great Schools. Desert Ridge lies within the the Mayo Clinic Specialty Building and the Class A office space and 196,000 square feet of Paradise Valley Unified School District, which Mayo Clinic Building are outpatient clinics. The retail space. Sprouts Farmers Market moved its is the 4th largest school district in the State of Mayo Clinic Hospital was included in U.S. News headquarters to the mixed-use development, Arizona.