Located close to Sky Harbor Airport and Arizona State University, the Cotton Center Business Park was certainly a successful project, but when two of the its four owners wanted to take over the project, our staff was asked by the new lender to review its true potential.
Already home to several successful businesses, Cotton Center nonetheless had joined Phoenix in a national recession that had capped both job growth and business expansions. Yet due to a superior combination of a location in the central Phoenix metro area, almost immediate freeway access and a surrounding community superior to its competitors, Cotton Center continued to thrive, with both plot sales and value ratios leading the market.
Our analysis showed that while Cotton Center had several competitors active in the marketplace, none could match its key advantages of location, flexibility and cachet. Moreoever, given its mix of flex-industrial, small office and build-to-suit parcels, it offered a variety of uses not available elsewhere in the marketplace.
Consequently, it was an easy conclusion to predict continued success of this business park, especially as the national economy eventually improves and low-cost Phoenix continues to benefit from the outsourcing of manufacturing and services from other states.