The City of Scottsdale has agreed to pay back Advanced Semiconductor Materials for the infrastructure requirements for its new north Scottsdale headquarters and research facility. As a quid pro quo, ASM must construct its new 400,000-square-foot facility, add 500 jobs with an average wage of $110,000 and achieve a payroll of $55 million.

The Phoenix Business Journal reports ASM’s expected capital expenditure for its new headquarters would be more than $400 million between the land acquisition, project buildout and equipment housed within the facility.  ASM purchased nearly 24 acres near the southeast corner of Scottsdale Road and Loop 101 — the site of its new headquarters. ASM America bought the land for more than $33 million

ASM designs and supplies wafer processing equipment to customers, primarily for the deposition of thin films — a fabrication process used in semiconductor manufacturing.

ASM’s existing headquarters is at 3440 E. University Drive near Phoenix Sky Harbor International Airport.

Newmark has arranged the sale of 90 Mountain View I, a three-story, 91,082 square-foot, Class A office and medical office project located at 9977 North 90th Street in Scottsdale. The asset sold for $11 million. 

Newmark Executive Managing Directors Barry Gabel, Chris Marchildon and CJ Osbrink represented the seller, Regent Properties. 

Gabel said, “We continue to see robust demand for well-located, high-quality office and medical office properties.” 

Located in the “Scottsdale Cure Corridor,” 90 Mountain View I is within walking distance of the 427-bed HonorHealth Scottsdale Shea Medical Center. At the time of sale, the property was 86% leased. 

Built in 2000 and situated on a 3.32-acre site, the property offers abundant parking, with 4.33 spaces per 1,000 square feet in subterranean, surface and adjacent parking structures.

Regent says it’s a vertically integrated investment manager of premier Sunbelt communities.