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June 23, 2009   Armstrong Development Partners Inc. has joined forces with HP Properties and John Lopez of Lopez Foods Inc. to develop Cambria Suites at Portico Place in Chandler, Arizona.

The hotel opportunity was a joint effort to introduce a hospitality component that would be synergistic with the other retail and office components, explains Martin Hedstrom, real estate manager at Tempe, Arizona-based Armstrong Development Properties Inc. The first phase of Portico Place, a redevelopment project located at the intersection of Chandler Boulevard and Dobson Road, was recently completed. The project features retail space, including CVS/pharmacy and Dunkin’ Donuts, and 40,000 square feet of office space. The five-story 92,000-square-foot hotel will offer 137 rooms and on-site amenities for guests, including restaurants and a CVS/pharmacy. The property will also feature easy access to adjacent businesses and facilities.

With an immediate trade market including a major technology and health employments area, the hotel’s location is a logical choice for business travelers.  Cambria Suites’ developers went the extra mile and over a few additional hurdles so that hotel guests won’t have to.  “Cambria needed a variance to incorporate an additional story to the hotel fortunately the Cambria prototype had many of the same characteristics of Portico Place and was able to work with the city to utilize common ground for which the fifth story was granted. Efforts between city and developer are key,” says Hedstrom.

Construction should begin in third quarter 2009 with completion slated for first or

second quarter 2010.

April 1, 2009 Part of Chandler, Arizona's industrial landscape is seeing new life thanks to a “clean up and build” effort by one of the Valley’s leading real estate developers.


Armstrong Development Properties, Inc. (Tempe, AZ) identified the location on the southwest corner of Chandler Boulevard and Dobson Road more than five years ago as an opportunity for a mixed-use development consisting of retail, office and hospitality components. When identified, the corner consisted of a vacant semiconductor manufacturing plant that had prevailing environmental concerns. SG Ellison, Vice President of Development for Armstrong explains, “The Site presented a unique redevelopment opportunity in a mature trade area with a healthy mix of residential, retail & employment. There has been a significant refocus toward infill development from office & retail users in lieu of the growth sites of the recent past. In the
case of Portico Place, we had to create new infill development by identifying a site that had the right mix of density & demand. The intersection of Chandler Blvd. & Dobson Rd. fit these requirements perfectly”.

Now, the retail and first phase of the office components are complete and seeing activity. CVS/pharmacy and Dunkin Donuts are the first Tenants to open their doors to the public. “Our new store in Portico Place allows us to serve our customers at a very convenient and accessible location in Chandler,” said Steve Barney, Region Manager, CVS/pharmacy. “We look forward to the continued development of Portico Place as a great location to grow our business and take care of customers.”


While the 164-room Cambria Suites hotel is anxiously “ramping up” their efforts to start construction this summer, construction of the first 40,000SF Class A office space was recently completed. After a recent open house gathering of office brokers, Michael McQuaid, Partner at Lee and Associates (representing Armstrong), is quoted as saying, “The feedback has been positive. Although this is a difficult time in the industry, to have a showing for a 20,000SF user within 24 hours of an open house is a true testament of the quality product Armstrong has created.” The office component was constructed by the Weitz Company and designed by Butler Design Group.

November 15 , 2008 At the site of The Shoppes at Camp Bowie in Fort Worth, Texas, the famed Stripling & Cox building on Camp Bowie Boulevard is set for demolition as Pittsburgh-based Armstrong Development Properties Inc. plans to erect a high-end retail project in its place, complete with a bank and multiple restaurants.

Armstrong Development’s Texas Director of Real Estate John Waters said the company will demolish the shuttered 110,743-square-foot, two-story Stripling & Cox building on January 1, 2009. In its place, a 23,000 SF high-end shopping strip sandwiched between two pad sites will rise. One pad site, at the intersection of Hilldale Street and Camp Bowie Boulevard, is slated for Comerica Bank. The other site at the intersection of Ridglea Avenue and Camp Bowie Boulevard has not yet been leased, but is slated for restaurant use.

“Camp Bowie is a unique trade area. When the opportunity came up for a redevelopment there, we were excited,” Waters said. “It’s not often such a piece becomes available.” Waters said Armstrong Development closed on the 3.5-acre tract on Sept. 7 after seven months of negotiations. Construction on the project is slated to begin March 1, 2009, with tenant opening set for fourth quarter 2009.

June 3, 2008 Unser Crossing , Armstrong Development's newest project, received $1.8 million in public improvement incentives from the Albuquerque, New Mexico City Council. Armstrong Development's Arizona Regional Director SG Ellison stated at the meeting that "the incentive will help bring this project to fruition." The funds will be used on roads, public safety and drainage. The approximately 50 acre development will feature a Lowe's Home Improvement store as a primary anchor, and bring much needed retail to a Southwest Mesa neighborhood vastly under served. Albuquerque Representative Antonio Maestas was in support of the incentive. "It's the best $1.8 million this city has ever spent," he said.

 

ADDITIONAL INFORMATION

For additional information about news topics described above, please contact:

Armstrong Development Properties, Inc.
Birmingham Towers
2100 Wharton Street, Suite 700
Pittsburgh, PA 15203
412.381.1122
412.381.1123 fax

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