Client: City of Mesa (AZ)
The City of Mesa retained Gruen Gruen + Associates (“GG+A”) to assess real estate market conditions and trends impacting Mesa and to profile Mesa’s current nonresidential real estate inventory. GG+A’s research and analysis was directed toward providing an information base and perspective for the development of a strategic economic development plan.
GG+A obtained and organized data from the Maricopa Association of Governments to characterize the composition of land use in the Mesa Municipal Planning Area. GG+A obtained and analyzed data on the inventory of office, industrial and “flex”, and retail space for the City of Mesa; the East Valley submarket cluster (generally including the communities of Mesa, Chandler, Gilbert, Tempe, the “Gateway Airport/Loop 202” and “Superstition Corridor” submarkets located in Mesa); and the Phoenix region as a whole. GG+A also completed interviews with knowledgeable real estate brokers with Cushman & Wakefield and Phoenix Commercial Advisors active in the Mesa and Phoenix regional land use markets.
GG+A synthesized the results of the secondary data analysis and interviews to draw conclusions about potential market opportunities for the strategic economic development plan to target.