Phoenixmart in Casa Grande Arizona

4 Replies

Hey Central AZ investors! I’ve been hearing about phoenixmart and it sounds promising, however I read that a concrete company recently got a million dollar lien against them. Does anyone have any more info? I’ve considered buying rentals in casa grande because the prospect that phoenixmart May bring in thousands of jobs. Any thoughts? Is phoenixmart a pipe dream?

As far as I've seen, many of the major plans that have been rumored throughout Casa Grande over the years don't always quite work out as expected. PhoenixMart was supposed to be up and running years ago, but from what I'd heard, the investors overseas ran into delays due to immigration. Though I don't often make it out to where PhoenixMart is being built (°52'47.2"N+111...), I do know that they've been working on the structure for over a year now. Your mention of the concrete company's lien is the first I've heard of it, though it wouldn't surprise me.

Aside from PhoenixMart, there are several other large developments that are supposed to be popping up soon: Attesa Motorsports Complex (debatable whether it'd be considered as being in Casa Grande or Stanfield), Lucid Motors (SW corner of Casa Grande), and Dreamport Villages (to my knowledge, near the I-8 and I-10 interchange). Several years ago it was rumored that a Six Flags would be built somewhere near Eloy, then the idea seemed to vanish in the wind, same for the massive Pacific Union railway switchyard that was planned for the Picacho/Red Rock area. Whether any of these new facilities will make it to completion and create long-term employment opportunities is hard to say.

It's also not uncommon to see new businesses built from the ground up, then within a few years they scale back drastically or shut down completely. Not only can empty retail properties be found throughout CG, but vacant industrial and manufacturing facilities as well, particularly on the southwest side of town.

All-in-all, I would say that Casa Grande does have potential for cashflow, but in my experience of living here since '07, I wouldn't personally buy with the idea of appreciation in mind. From what I've seen, the BRRRR strategy tends to work well (feel free to ask @Shiloh Lundahl about his experiences with Pinal County properties) , as there's still a fair amount of distressed SFH's and small multi's in this town. Same can be said for Arizona City, Eloy, Coolidge, Florence, etc.

I have been involved with land transactions around there. Being between Tuscon and Phoenix it's a matter of time, but as Randy K. pointed out we have all been saying that for years. It seems like everytime things really start to take off a recession wipes everything out. With this in mind be careful buying in a strong market there, because purchasing on the wrong side of a crash and watching developments shelved is painful. Don't ask me how I know.

@Nolan M. Got a good laugh out of this one. I own 200 units in Casa Grande and Coolidge and drive by Phoenixmart monthly. I stopped by recently and took a good video of the progress for my friend at @Brian Burke and I think it made his day. I'll see if I can dig that up and attach if anyone wants to see it. Its an empty shell, not a worker in sight for at least a year. CEO Marshall Stahl in hiding, city and mayor not talking about it. I have a contact in the planning dept and in the past 3 years he went from bullish to nothing to see here. The whole idea is a pipe dream. I've been buying SFRs at the Florence court house steps for since 2010 and there are deals even today. There are multiple big projects in the pipeline and only one needs to hit, my guess its Attessa, not so much Lucid or the Park. The park would be nice, I own a little townhouse row of 10 units at the front gates of the new park plat. Nikola Motors closed on the land for its manufacturing plant today and plans a $1B manufacturing facility in Coolidge. $800M cash in hand for building. Consider the effect on Coolidge a city of 5,500 getting 2000 jobs. The cities tax base will double. And there is only SFR and small mult junk housing, one class A in town, Just saying.

I'm a big fan of Pinal County but agree with @Shiloh Lundahl about giving away our secrets on the forums. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here