EUROSTRETCH LOCATION AND CLIENTELE

EuroStretch is located in The Citadel, an upscale retail center at the northwest corner of Pinnacle Peak Rd., and Pima Rd., in Scottsdale, AZ.  It is strategically situated to serve the target market of North Scottsdale.  Its facilities are modern, clean, chic and are surrounded by friendly retail and professional neighbors.  It is adjacent to Preston’s Steakhouse.

Our target market is a 10-mile radius centered at Loop 101 and Scottsdale Road, Scottsdale, AZ. (encompassing ZIP Codes 85054, 85254, 85255, 85260, 85262, 85266 and 85377).  These Zip Codes have higher than average median incomes, generally older in age and are presumed to have greater disposable income.

The Loop 303 and Hayden/Scottsdale and Tatum areas have become the hottest areas in the state for upscale development.  In recent months, there have been bidding wars for property made available for development by the Arizona State Trust Lands.  This flurry of proposed real estate projects has resulted in a sharp increase in the need for residential and retail developments to accommodate the expected surge in population for this area.  Among the projects recently completed or proposed are:

• Cavasson, a 135-acre mixed use project by State Farm at northwest corner of Hayden and Loop 101, recently completed its first phase containing office buildings and a Hiton Hotel.  State Farm paid $84 million for the land.

• Optima Group out of Chicago will shortly begin construction on a $1Billion luxury apartment/retail complex on the southeast corner of Scottsdale Road and Loop 101

• Mayo Clinic, at 56th and Mayo Drive, south of Loop 101, recently completed a $748 million expansion of its medical complex.

• In 2021, Mayo Clinic paid $139 million for a 120-acre parcel on the south side of Loop 101 between 56th Street and 64th Street with plans for 3.3 million square feet as a biotech innovation hub, the first phase of which has begun construction.

• Arizona State University has recently completed construction for a Nursing School on 24 acres abutting Mayo Clinic on the east.

• Billionaire George Kurtz, the co-founder and CEO of cybersecurity company CrowdStrike acquired 28 acres in Kierland last spring for $55.5 million and proposes a $1Billion project for a technology cluster to attract top innovators, technology entrepreneurs, knowledge workers, and venture capitalists to accelerate Scottsdale’s growing technology cluster.

• In November 2022, HonorHealth outbid Banner Health for 48 acres located at the northeast corner of Hayden and Loop 101, paying $84 million for a 48-acre tract that was expected to go for $56.95 million.

• Banner Health subsequently acquired 48 acres on the southwest corner of Hayden and Loop 101 and announced plans to build a $400 million medical complex.

• DMB One Scottsdale is developing a 75-acres site on the east side of Scottsdale Rd., between Loop 101 and Thompson Peak Parkway.  The project includes a Home2Suites hotel completed in 2022.  The Ryan Companies are commencing construction on a 100,000 medical office building.  A plastic surgery center is in the works.

• Axon Enterprise (think ‘Taser’) acquired 74 acres on the southeast corner of Loop 101 and Hayden for more than $49 million with plans to develop 250,000 square feet of space and reach a payroll of $130 million within 5 years.

• In March 2022, New York-based Mack Real Estate Group paid $125 million for 124 acres on the northwest corner of Loop 101 and Bell Road.

• Discount Tire acquired 35 acres west of Tatum and south of Loop 101 for $29.4 million in December 2022 to build a new headquarters.
  

As more and more residents move into Phoenix/Scottsdale, the growth is intersecting in the Scottsdale Road and Loop 101 corridor in a high-end way.  The area is already renowned for its world-class entertainment.  It is home to some of the Valley’s elite golf courses, such as the TPC Scottsdale, Grayhawk Country Club, and Silverleaf Country Club.  And, to the north, Tron Golf Club and Troon North Golf Club.  For those who want to be close to the top events in the Valley, Westworld of Scottsdale hosts Barrett-Jackson, the Scottsdale Arabian Horse Show, as well as other high-end events.  Top this with some of the best restaurants in the country and you have an environment built to attract a population with a higher disposable income.

With thousands of new residents and employees pouring into this target area, this is the environment EuroStretch envisages will appreciate and utilize the services offered by it.  This is the burgeoning market we expect to capitalize on while building from an existing base of high-end homeowners.