Glendale, AZ - Economic Development
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July 2016 – Issue 12
Glendale Office of Economic Development
 

 

Glendale is Growing with New and Expanding Businesses

Glendale is experiencing tremendous new business growth, with over a dozen companies locating or expanding in Glendale to date this year. The companies are within four of the city’s targeted industries including business services, medical technologies, manufacturing and signature retail. The Arizona Republic highlighted eight of these new companies including:

  • Credit Union West – This financial services firm will be constructing a new corporate headquarters in the Westgate area.
  • MobileLogix – A new software company that opened its headquarters in north Glendale.
  • Rendina Healthcare – A 62,000 square foot medical office building is being constructed by Rendina adjacent to St. Joseph’s Westgate Medical Center.
  • 101 West Healthcare – This 200,000 square foot campus, developed by Dr. John Simon, is under construction near 99th Ave and Glendale Ave
  • The Iron Factory – The Iron Factory is a golf club refinisher that is locating their operations to Glendale.
  • Canyon State Bus Sales – This company sells, maintains and repairs school buses and other specialized vehicles.
  • Living Spaces – This furniture retailer has begun renovations on the space formerly occupied by Kmart in north Glendale.
  • Home2 Suites by Hilton – The extended stay hotel is currently constructing a new all-suite hotel at Westgate.

 

To read more about the exciting activity occurring in Glendale, please click here.

 

 

Getting the Word out about Glendale

Our role in Economic Development is not only to facilitate the location and retention of jobs in our community, but to also ensure that our audience of citizen, brokers, site selectors, and partners are informed of the community assets and development activity in Glendale.  This quarter has been very busy with a variety of outreach and promotion activity.

In May, Glendale staff participated with other West Valley cities, Westmarc, Greater Phoenix Economic Council and the State Land department to provide value-added information about economic development activity to attendees of at the West Maricopa Association of Realtors Economic Development Forum. This was a great opportunity for Glendale staff to talk about new developments and the future of our community development in the Loop 303 corridor as it is a key component the Envision Glendale 2040 proposed General Plan.

Staff also participated in the Greater Phoenix Economic Council’s competitor market analysis site visit to Atlanta, Georgia.   The regional team met with commercial brokerages and site selectors in that market, shared best practices with other economic developers, and learned about industry trends from technology groups in the area that will aid in the continued formulation and refinement of economic development policy for our region.

Staff also attended the 2016 BIO International Convention as part of the delegation representing Arizona. This event was attended by nearly 16,000 participants from 76 countries and 48 states.  This is the premier convention that brings together a wide array of biotechnology companies and academic institutions ranging from corporate research and development to entrepreneurial companies.  Glendale participation provided a phenomenal opportunity to share information about bioindustry in both Glendale and Arizona.

Finally, Glendale will be participating in the Arizona Communities booth at the International Council of Shopping Centers’ Western Conference show August 31st-September 1st, 2016. Stop by booth #2051 to learn more about retail opportunities in Glendale.

 

 

Westmarc Holds Annual Economic Summit in Glendale

The 2016 Westmarc West Valley Economic Development Summit was held at the Glendale Civic Center in May. The event featured Governor Doug Ducey as the keynote speaker and featured panelists discussing the impact of the Greater Maricopa Foreign Trade Zone and West Valley Workforce development.

Westmarc is a key partner of the City of Glendale. The organization is a partnership between the fifteen communities of the West Valley, businesses and educational entities and works to promote economic development and quality of life in the west valley. To learn more visit www.westmarc.org.

 

 

Glendale Chamber of Commerce Reaches 1,000 members

The Glendale Chamber of Commerce reached an exciting milestone in June, with the addition of its 1,000th member. The Glendale Chamber is the largest chamber in the West Valley and is one of the most influential business organizations in the area. The City of Glendale is honored to have such a strong business advocacy organization in our community that works in partnership with on economic development and other community initiatives.  Thank you to the Glendale Chamber staff, board, and members for fostering a phenomenal working relationship and congratulations to the fabulous chamber staff on all of the work you do!

For more information visit: http://www.glendaleazchamber.org/

 

 

Glendale’s Healthcare Industry Spotlighted

Glendale’s healthcare industry continues to be in the spotlight. The May/June issue of Arizona Commercial Real Estate Magazine featured a story on the emerging healthcare trends in the West Valley, specifically focusing on the new Westgate Healthcare campus and the growing healthcare corridor along Loop 101.

Read the entire article by clicking here.

 

 

Arrowhead Executive Center and Arrowhead Creekside Purchased

Holualoa Companies recently purchased Arrowhead Executive Center, located at 75th Ave and Bell Rd. Plaza Companies is partnering with Holualoa in the transaction and will be offering leasing, property management and construction services for the product. Renovations have already begun on the site. Holualoa was attracted to the site because of its prime location to walkable amenities and the quality tenants located onsite.

Woodside Health, a medical office building acquisition and management firm, has made their first Arizona purchase by acquiring Arrowhead Creekside located at 7200 W Bell Rd in Glendale. The 72,000 square foot, 11 building complex was built between 1998-2006 and is home to twenty tenants, mostly medical, health and human resource oriented.

These ventures are a great example of the attractiveness of Glendale’s medical and office marketplace.

 

 

What’s New in Downtown Glendale

Downtown Glendale continues to see activity through the summer months with the Glendale Summer Band concert series extravaganza celebrating its 50th season in downtown Glendale! Concerts take place every Thursday night in historic Murphy Park, through July 21st. In honor of this milestone anniversary, this season the amphitheater was renamed in honor of E. Lowell Rogers, the creator of the first summer band.

 

 

Glendale 1st Quarter Building Occupancy

Glendale Growth

The office market in Glendale continues to improve, with vacancy rates now at 20%, down from 21.2% in fourth quarter 2015 and down 3.5% from the same time last year. Total office square footage is nearing 5 million square feet, with just under 1 million vacant.

The industrial market in Glendale is now 97.6% occupied, with vacancy rates approaching historic lows. The vacancy rate is one fourth of the rate in metro Phoenix and a third of the national average, showing Glendale is a strong location for industrial activity.

The retail sector in Glendale remains steady. Vacancy rates declined compared to the previous quarter, to just under 8%. Nearly 12.9 million square feet of the 13.9 million square feet of retail space in the city is currently occupied.  

 

Rate

Retail

Industrial

Office

Square feet Vacant

1,008,609

266,563

986,353

Square feet Occupied

12,860,533

10,804,652

3,943,021

Percent Vacant

7.8%

2.4%

20.0%

 

Market Comparisons:

 

Glendale:

Metro  Phoenix:     

National:

Retail Vacancy:    

7.8%

9.0%

5.6%

Industrial Vacancy:  

2.4%

10.5%

6.2%

Office Vacancy:    

20.0%

16.4%

10.4%

Source: Costar, 1st Quarter 2016

 

 

Spotlight on – Loop 303

The Loop 303 area is Glendale’s next frontier for development. As development occurs, this area will provide new industrial, office, retail and residential opportunities for Glendale and the entire West Valley.

The area is easily accessible for businesses and residents because it is served by multiple freeways – the Loop 303 connects to I-10 to the south and runs north to the US 60 before connecting to the I-17. Glendale has five miles of duel frontage along the freeway for development. In addition, Northern Parkway also provides enhanced regional connectivity in the area with the first phase has been completed, stretching from Loop 303 to Dysart Rd.

The reason Glendale is so excited about the Loop 303 area and the future development is because it has more than 5.5 miles of rail service through the Burlington Northern Santa Fe railroad. BNSF provides access to 96% of the US population through 32,500 miles of rail network. Coupled with the large land sites available for development, this area provides an opportunity for manufacturing and logistics companies looking to establish a presence in the Greater Phoenix at a premier location with optimal access to multi-modal transportation.

 

Meet the Glendale Office of Ecoomic Development::

  • Brian Friedman, Director
  • David McAlindin, Assistant Director
  • Jean Moreno, Economic Development Officer
  • Kristen Stephenson, Administrator
  • Randy Huggins, Specialist
  • Suzie Ricard, Administrative Assistant
  • Visit us online now! Click here.