Tibshraeny optimistic about city’s economic position - East Valley Tribune: Chandler

Tibshraeny optimistic about city’s economic position

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Posted: Saturday, February 15, 2014 12:30 pm

Chandler Mayor Jay Tibshraeny’s state of the city speech last week was, unsurprisingly, heavy on optimism. But Tibshraeny also utilized a coating of cautiousness in describing where Chandler is headed.

As has become a staple of the annual speech, Tibshraeny used the forum to focus on growth for the city’s business community.

“Our long-term vision has allowed Chandler to remain a global player, and we will be for generations to come,” Tibshraeny said. “Companies will continue to look at Chandler for its stellar business atmosphere.”

In what he called a “clear-cut statement to a strengthening economy,” Tibshraeny laid out the upcoming expansions that are expected to bring to Chandler more than 300,000 square feet of office and industrial space.

Arizona Nutritional Supplements is making an $8.6 million capital investment in its fourth building in Chandler and will add 100 new jobs in the next 12 to 18 months.

Insys Therapeutics, a commercial-stage specialty pharmaceutical company, is investing in a 35,000-square-foot expansion in the Price Corridor.

Savage Universal, which produces movie-set backdrops and photography products, is expanding from its current location at Elliot Road and Arizona Avenue into the Chandler Airpark area. Phase I of the expansion broke ground earlier this month, with a 64,000-square-foot building at the southwest corner of Germann and Stearman. Phase II will be a 41,500-square-foot building.

Irgens Development, a commercial real estate developer, is moving forward with a speculative 80,000-square-foot office project at the northwest corner of Cooper and Germann in the Chandler Airpark.

Black Diamond Advanced Technology is expanding its business into Chandler with a 24,000-square-foot building for research, development and engineering.

Rockefeller Group Development Corporation will come out of the ground with an 82,000-square-foot speculative office building at the northwest corner of Chandler Boulevard and McClintock Road.

East Group Properties Inc. is investing in two speculative industrial buildings at Kyrene Road and the Loop 202, totaling 150,000 square feet.

“A reason local experts are calling Chandler the hottest market in the Valley,” Tibshraeny said of the projects. “.There is little wonder U.S. News ranked Chandler among the top 12 most thriving cities in the United States.”

Even with the positive outlook, Tibshraeny urged caution as well.

“While we continue to see positive signs in Chandler as we emerge as a country from the Great Recession, we must take caution. Yes, out tax and development fee revenues for the past quarter are very positive and better than projected as new projects in the commercial sector come online, but we also understand and we all have to understand that national and global markets continue to be very volatile for many different reasons. And their effects on local markets remains at risk.”

• Contact writer: (480) 898-6549 or cgabel@evtrib.com.

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