Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/888015
www.REBusinessOnline.com Western Real Estate Business • October 2017 • 37 highly involved city council driving the economic development strate- gies, Peoria's leaders are not only taking control of their future, they are creating it. The city currently has three shov- el-ready sites, including 320 acres in the Vistancia commercial core that is zoned for mixed-use/commercial de- velopment; Peoria Innovation Center, a 17-acre innovation center project in P83, Peoria's premier entertainment district that contains build-to-suit retail and restaurant pads and Class A office development opportunities; and the 14-acre Peoria 101 Office Park that is zoned for mixed-use/commer- cial. Adopting an aggressive strategy has allowed Peoria to attract smart people and smart businesses to the area. The city is a low-cost option for both business and workforce attrac- tion compared to Dallas and Austin, Texas, Denver, Salt Lake City, San Di- ego, San Francisco and Los Angeles. Peoria has an abundant, educated workforce within a 30-minute drive from most major employment centers in the Phoenix metropolitan area. The average professional in and around Peoria is young, around 35 years old, with a college degree. With many more working years left, these entre- preneurs and professionals dominate today's workforce. A strong, talented workforce makes relocation and/or expansion decisions easier for inves- tors and businesses that are ready to make a smart move. The city provides a dedicated, in- house team for quick and consistent plan review, permitting and inspec- tion. By providing a team approach, the city staff is able to establish realis- tic schedules and timeframes to meet construction or relocation deadlines, which are critical to the success of any project. Peoria also offers the Pri- ority Track Processing Policy, which moves expedited plan reviews and permitting to "the front of the line" at no cost for some projects. With a high quality of life, many development opportunities, and targeted work- force development initiatives, Peoria is a great place to live and work for families, professionals and business owners alike. n As one of the world's leading commercial real estate advisory firms, Newmark Knight Frank's 15,000 professionals operate from more than 400 offices in established and emerging property markets across 55 countries. Serving the Greater Phoenix market—office, office medical, industrial, retail and multihousing—NKF and ARA Newmark exceed the expectations of their clients anywhere their commercial real estate needs may take them. Leaders in Phoenix Real Estate Solutions www.ngkf.com www.aranewmark.com 2398 E. Camelback Rd., Suite 950 Phoenix, AZ 85016 +1 602 952 3800 Leasing Advisory • Global Corporate Services • Investment Sales and Capital Markets • Consulting Program and Project Management • Property and Facilities Management • Valuation and Advisory Services Peoria Innovation Center is a 17-acre innovation center project in P83, Peoria's premier entertainment district that contains build-to-suit retail and restaurant pads and Class A office development opportunities.