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Business Briefcase

BY LAUREN SERRATO

West Valley View Staff Writer

Housing prices are going up, but so are industrial costs. A Buckeye development sold for more than $14 million. In this week’s Business Briefcase, we will also look at Estrella’s recent closure on 20 acres in Lucero.

The Buckeye project is the third transaction by the same acquisition group. As for Estrella, the Goodyear community will have many projects to come this year, as the 20,000-acre mixed-use master-planned community transitioned to new ownership in October 2021, composed of Harvard Investments, Toll Brothers and Värde Partner.

Development in Buckeye sells for $14.5M

SVN Desert Commercial Advisors completed the sale of an approximately 77-acre industrial site in Buckeye at the southeast corner of Apache Road and Southern Avenue, adjacent to the Cardinal Glass and Walmart distribution facilities.

The property was acquired from the Napolitano family for $14.5 million by an entity controlled by Contour Real Estate, a California-based real estate investment and development firm.

Contour plans to develop a 1.2 millionsquare-foot Class A cross-dock facility targeting ecommerce and logistics-related tenants in need of a regional distribution hub. The Buckeye project is the last

In Buckeye, this 77-acre industrial development site, located at the southeast corner of Apache Road and Southern Avenue, sold for $14.5 million. (Photo courtesy of SVN Desert Com-

mercial Advisors)

of three fourth-quarter land acquisitions in 2021, bringing its Arizona industrial pipeline to over 3.6 million square feet.

The deal had been in escrow for 12 months as Contour worked through approvals and infrastructure issues with the city of Buckeye. Ware Malcomb is the architect and civil engineer on the project.

With major announcements of Kore Power, Five Below and Funko Toys in the recent months, the city has become a hotbed for big-box industrial tenants fleeing the Inland Empire due to increases in operational costs of that market.

Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors negotiated the transaction on behalf of the buyer.

“The city of Buckeye has numerous positive attributes and is quickly emerging as a very prosperous community,” Borgesen said. “We are very thankful to be a part of that economic growth.”

Estrella closes on more than 20 acres

Estrella Partners LP, comprised of Harvard Investments, Toll Brothers and Värde Partners, said Taylor Morrison closed on 20.37 acres in Lucero at Estrella. Greg Vogel, Ryan Semro and Bret Rinehart of Land Advisors Organization facilitated the transaction.

“Since our purchase of Estrella in October 2021, Harvard Investments and our partners at Toll Brothers and Värde Partners have been actively planning the future of this incredible master-planned community,” said Tim Brislin, vice president of Harvard Investments.

“This latest addition to Lucero at Estrella represents the first of many new neighborhoods as we aim to make Estrella the true heart of the West Valley. We believe in Taylor Morrison’s vision and know they will continue elevating the level of quality and unique designs homebuyers seek in the West Valley today.”

The Taylor Morrison transaction includes 67 final platted lots that will be available to buyers at the end of the year. Taylor Morrison, which already offers homes in Lucero and CantaMia 55+ at Estrella, has plans to include one of its new series of floor plans in this second phase of Lucero at Estrella.

The Estrella master-planned community is already home to more than 7,000 families and includes multiple Residents’ Clubs, resort-style pools and a waterpark, 72 acres of lakes, 50-plus miles of paths and trails, the Yacht Club of Estrella, the award-winning Nicklaus Design course at the Golf Club of Estrella, community welcome center Casa Lucero, and more than

40 signature and neighborhood parks.

“We were honored to complete this exciting transaction for Estrella,” said Bret Rinehart, residential land and lot adviser for Land Advisors Organization. “The partnership group of Harvard Investments, Toll Brothers and Värde Partners have big plans for the future of one of the West Valley’s most amenity rich master-planned developments, and our residential land team at Land Advisors is thrilled to be a part of its continued growth.”

Added Steven Hahn, senior vice president of land for Taylor Morrison, “We are excited to bring Taylor Morrison back to Lucero at Estrella, further exemplifying our continued investment in the Estrella community. Lucero will complement CantaMia, our award-winning 55-plus community already within Estrella.”

To learn more about Estrella, visit estrella.com.

Have an item for Business Briefcase?

Please email your business news and tips to Lauren Serrato at lserrato@timespublications.com

BY WEST VALLEY VIEW STAFF

For business owners, the end-of-year holiday season is quickly replaced with tax season. And with the IRS pushing the opening fi ling date forward to Jan. 24, it’s even more important for business owners to have all their fi nancial ducks in a row to fi le their 2021 return.

In addition to an earlier opening date, most businesses, with the exception of sole proprietorships and LLCs, have a deadline of March 15 to fi le.

According to Mary L. Reha, an enrolled agent and co-owner of Goodyear’s Arete Financial Solutions, businesses that don’t have a solid tax plan in place should sit with a tax professional to create a road map to maximize your tax strategy. Arete Financial Solutions offers business owners a complimentary one-hour consultation.

“We sit down with you and review your prior year return, let you know if you’re missing things, and come up with an individualized plan outlining how Arete can help your company maximize a tax strategy,” Reha said.

Reha is one of a select group of enrolled agents certifi ed to practice in 50 states, as well as represent individuals against the IRS. Reha advises that with state and federal tax laws seemingly changing every year, it is best to consult with a tax professional. Key items to be aware of this year include:

New tax laws that impact business owners: • 1099 NEC form. • The increase in business meals percent deductions. • Employee retention, sick leave and family leave credits available. • Charitable deductions. • Energy-effi cient building and other energy credits. • Student loan repayments.

Important items for businesses to have for fi ling including; • Review balance sheets, P&L and assets. • All equity, distributions and loans by owners. • All completed employee and contractor paperwork.

Arete co-founders Edwin “Ted” R. Ashton, Esq., and Mary L. Reha, enrolled agent. (Pho-

to by Paul Markow)

• Expense documentation. • Payroll receipts.

“It’s crunch time for businesses to fi le,” Reha said. “The tax system is complex. Having a tax professional from Arete on your team ensures that nothing gets missed, that your company is maximizing the business deductions and credits available, and your return is spotless and fi led on time.”

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