ARIZONA'S ONE-TWO PUNCH
Park, Goodyear Airport Industrial and Union Tempe mixed-use multifamily and retail complex in Tempe. “Union Tempe is a high profile project for sure,” he says. “And this year we delivered Goodyear Airport 85 spec industrial in Goodyear, and will have 335 multifamily units at Mesa Arts District Lofts arriving in 2023.”
Larry Pobuda, executive vice president & general manager, Opus Development Company, L.L.C, is in year seven at the firm, and three in his current role. The distinguished industry veteran, who was tasked to revive the Opus Brand in Greater Phoenix, is as bullish as ever on the metro’s economic prospects. “We essentially have
MARKET SEGMENTS
a one-two punch in Phoenix right now with tremendous business user growth, as well as strong, sustained population growth,” he says. “This combined in-migration – business and people – is the primary accelerant in helping to explain why few areas of the country can match Phoenix when it comes to our industrial and multifamily markets. The result is that these
Larry Pobuda Executive Vice President & General Manager, Opus Development Company
segments are on fire.”
STARTING POINTS
Under the umbrella of the Opus Group, Pobuda is charged with oversight and development of the Western region, which includes Phoenix, Austin and Denver. “These are three vibrant markets, and all have their distinctive strengths. That said, Greater Phoenix is such a dynamic region with our cost of
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Union Tempe
living, weather, and overall quality of life making the metro a fantastic destination,” he notes.
PORTFOLIO
During his tenure, Pobuda has built an impressive portfolio of projects, including Paradise at 83 multifamily in Peoria, Goodyear Crossing Industrial
Industrial and multifamily are dominating the attention of Pobuda and team. In the West Valley, distribution and logistics are the primary drivers of the industrial narrative; however, there are other facets as well. “It is especially exciting to see the region emerging as the home of the semiconductor manufacturing industry in the United States,” he says. “Anchored by Intel in the Southeast Valley and soon, Taiwanese Semiconductor Manufacturing Company in Deer Valley, this industry is serving to elevate Arizona’s game on a national level.” As for multifamily, the narrative is centered on population growth and demand for housing. According to the latest U.S. Census figures, Phoenix was the fastest growing large city in the U.S., and Maricopa County © MPmedia, LLC 2021