Gilbert commercial real estate is going to be an even hotter commodity in the future. This is due to the fact that the town of Gilbert is geared for growth and is focusing on tourism to leverage it.
The Gilbert Economic Development team is updating their recently expired 5-year plan to maintain a competitive edge in the Phoenix metro area. This plan will be announced in July of 2016. To date, more than $830 million is certified capital investment, 4.1 million square feet of expanded Gilbert commercial real estate, and 973 new business developments. Also noteworthy, there have ben more than $413.9 million of private investments within Gilbert.
Stephanie Dowling, deputy director of tourism at the Arizona Office talked about tourism trends and what the economic development team should take into consideration as they execute a new plan, “It’s more about the life stage than the specific age of the traveler … their travel habits change significantly depending on what life stage they are in,” she said. Gilbert’s tourism profits increased to $215 million. Particular venues in Gilbert that have experienced an influx of tourism include Top Golf, Gilbert’s Downtown Heritage District and the San Tan Village outdoor shopping promenade.
Max Suzenaar, founder, CEO & chief strategy officer of Minding Your Business, said that there has been a notable increase in tourists seeking more localized, under-the-radar opportunities that can offer a more individualized and unique experience. He said, “It’s a phenomenon that we hadn’t experienced or had before.”
What does this mean for you? If you’re contemplating buying or leasing Gilbert commercial real estate, now is a great time to consider all the possibilities. At the Menlo Group, we can help you find and secure the best of Gilbert commercial real estate for your business needs. Contact us with any questions. We are glad to help you get the best property at a great value in one of the hottest places for business in the Valley.