2017 Year End Scottsdale Airpark 2030 Report issued by Colliers International

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Our original report for the Scottsdale Airpark began in 1981 and was named the 2010 Report. In that base year of 1981, there were 3,320 employees, 1.58 million square feet of buildings, and 268 companies.

The Scottsdale Airpark has exceeded every recorded prediction since then. Currently, the Airpark has approximately 57,300 employees, 42,187,874 square feet of buildings and 3,150 companies.

Edge City

The Scottsdale Airpark is a modern “Edge City,” a term popularized by author Joel Garreau and defined by five rules, which the Scottsdale Airpark meets. In 2017, the Airpark continued to stand out for its core of over 40,000,000 square feet and 57,000+ employees. It is an employment base with mixed-use retail, offices, restaurants, apartments, condos, hotels and flex and light industrial space.

This report usually discusses what is going to change in the next 10-plus years. This year, we want to talk about what’s NOT going to change as well in the next 10-plus years.

What’s Not Changing

  • The Loop 101 Freeway stays in place, and business and development will continue to direct their future in proximity to the freeway.
  • The Scottsdale airport isn’t going anywhere, so the city made plans to tear down the old terminal and invest $27 million+ to build a new one with extra-large hangers.
  • The Millennial and Baby Boomer “movement” toward density to live, work and play in close proximity and relying less on owning automobiles.
  • Talent and innovation will continue to flock to this well-branded employment base – driven by “the Millennials.”
  • YAM Holdings (Bob Parsons) seems to be here to stay, based on the massive investments in their corporate headquarters and numerous businesses added to their campus adjacent to the Northsight/Hayden roundabout.
  • The current Northsight/Hayden roundabout and four more coming via the Raintree extension from Loop 101 to Scottsdale Road.
  • The “Car Collection Enthusiasts” who have over 40 different auto collections in warehouses, hangers and flex space—more begets more.

How Does this Edge City (Scottsdale Airpark) Benefit from “What’s Not Changing”?

  • Continue to promote the Scottsdale Airpark brand
  • Grow the base of the technology companies currently in the Airpark and draw more into this employment base
  • Keep the redevelopment cycle going by tearing down the 30-45 year old antiquated and functionally obsolete buildings and replacing them with new, modern, high-density MXDs.
  • Embrace the new transportation and circulation plans and improvements (i.e., roundabouts, shared parking, etc.)

Icons we lost in 2017

Gary Herberger—Scottsdale Airpark Developer, Philanthropist and Visionary. Fortunately, Gary’s brother, Judd, continues to guide the remaining family Scottsdale Airpark holdings.

Bruce Halle—Founder, Discount Tire Company, Philanthropist, Arizona’s largest billionaire. Bruce’s five guiding principles: “There are really just five simple life lessons: be honest, work hard, have fun, be grateful and pay it forward.”

Big Deals and Company Additions to the Scottsdale Airpark

  • Han Wei Lines, a Taiwan-based global shipping company, moves its US headquarters into the Perimeter Center.
  • Carlisle Company, founded in 1917, moves their headquarters to Kierland from Charlotte, NC. They are a Fortune 1,000 global manufacturing company.
  • Loco Patron opens new restaurant.
  • Tesla is growing their presence in the Airpark.

New Category: Multifamily

  • There are twenty nine apartment communities within the Greater Scottsdale Airpark area, with 7,200 total units and 7,754,031 square feet. This includes seven new projects over the last 24 months.

What Will We See in 2018 in the Greater Scottsdale Airpark?

  • Two 1,000,000± SF mixed-use developments will be announced.
  • Lack of available industrial space.
  • A resilient economy going forward until April 18, 2020, then a subtle softening.

Prediction for 2030

We will likely see 80,000 employees, 52 million square feet of buildings and 4,000 companies.

Colliers International Scottsdale Airpark 2030 Report

2017 Year End Scottsdale Airpark 2030 Report issued by Colliers International

Download Report