If you’re looking to live in a growing community focused on building business relationships and fostering families, Gilbert is the place for you! The Gilbert Office of Economic Development reports the average age of 31.4 years old and median income of $76,574, make this young community ready for growth.
The State of the Economy of Gilbert includes:
- St. Xavier University, Gilbert’s first institute of higher education located in the popular Heritage District on Gilbert Road between Guadalupe and Elliot Roads.
- The planned expansion of the Phoenix-Mesa Gateway Airport.
- A skilled workforce of over a million people within a 45-minute commute.
- The growth of companies technology-based companies like Orbital ATK who just signed a deal with NASA for the building of multi-million dollar satellites.
- Four designated Employment Corridors set for growth.
If you’ve been to The Heritage District on a Friday or Saturday night, you can attest to the area’s growth. Located near the Gilbert water tower, The Heritage District is home to a number of new and established businesses, restaurants, and St. Xavier University. Grab dinner at the Gilbert Food Truck Court, Postino’s, Zinburger, or any number of eateries, catch a play at Hale Theatre, sit outside and people watch, or listen to live music, this area offers something for everyone.
The state of the economy in Gilbert, Arizona includes four distinct and growing economic corridors:
Corridor One is located in the northwest corner of Gilbert, east of Arizona Avenue and south of Baseline Road. This corridor includes 266,036 sq. ft. of office space that has a 14% vacancy rate. Current businesses in this area include GoDaddy, Orbital ATK, Lockheed Martin Corporation, Mapfre Insurance, and Diversified Energy.
Corridor Two is located near Higley and Baseline Roads and includes Banner Gateway Medical Center, Banner MD Anderson Cancer Center and 69,000 sq. ft. of retail space with an 11% vacancy rate.
Corridor Three is located along the 202 freeway between Higley and Power Roads and east of Power Road between Ray and Pecos Roads. A blend of a blend of industrial, commercial, and retail establishments, this corridor includes Gilbert Hospital, Phoenix-Mesa Gateway Airport, Allegiant Air, Falcon Air, and Gilbert Gateway Town Center. Of note is the 932,369 sq. ft. of retail space with a 6% vacancy, and the vast amount of land that is yet to be developed.
Corridor Four is located between Gilbert and Greenfield Roads along the 202 Freeway. A blend of medical, government, commercial, and retail, this area includes Mercy Gilbert Medical Campus, Celebration Stem Cell Centre, Ironwood Cancer Center, Arizona Department of Revenue, San Tan Village Regional Shopping Center, and Gilbert Crossroads Towne Center. Of note is the 1,120,000 sq. ft. of office space that is at 39% vacancy rate.
The Town of Gilbert is working toward attracting more businesses to the area, especially along the 202 corridor. For more information about economic development, please visit http://www.gilbertedi.com/.
Whether you’re interested in buying or selling a home in the Gilbert area, Newman Realty has excellent representation on both ends with our Professional Home Buying and Home Selling Systems. Contact the Newman Realty team at 480-993-8653 to get started!Tags: Agent, Gilbert, Heritage District, Real Estate, Realtor