projects
State of Arizona Real Estate Strategy | Tucson and Phoenix
Overview
The State of Arizona Department of Administration hired Stantec to conduct a real estate study to explore the future of its facilities in downtown Tucson and Phoenix.
The study was prompted by changing occupant needs, aging facilities and growing maintenance costs, unpredictable funding to address those costs, and concerns about the impacts of the real estate market post-pandemic, given growing trends related to work-from-home.
Role: Brian Jennett led the effort and performed most of the work while employed as a Senior Consultant at Stantec.
Tucson
In the first assignment, the client wanted to analyze retention, disposition, and joint development opportunities for a state-owned complex in downtown Tucson, AZ.
Work included market and site analysis, interviews with stakeholders and market participants, surveys of occupants, review of rent roll, evaluation of highest and best use/financial feasibility, recommended development strategy, and high-level planning services. This fed into recommendations to the State about retention vs disposition and/or redevelopment as well as structuring and joint-development opportunities.
Phoenix Capitol Mall
The second assignment involved analyzing state-owned properties in the Capitol Mall adjacent to Downtown Phoenix, identifying potential for disposition/redevelopment, and developing a preliminary plan to evolve the district into a series of new neighborhoods.
Our work included market and site analysis, interviews with stakeholders and market participants, evaluation of highest and best use/financial feasibility, recommended real estate strategy, master planning, and implementation related strategies addressing potential funding, incentives, and partnerships.
