Less than a year after launching as a general contractor in Bradenton, Florida, Clout Construction has expanded to Tempe.
President Davis Reed said the company has about $30 million of work under contract in both Florida and Arizona and expects to bring in about $20 million in revenue to close out the year. The company got an introduction to the Grand Canyon State by way of Caliber Collision — one of Clout Construction's clients — on a few jobs in the Phoenix metro.
As Reed, 34, oversaw both projects in town, he and the Clout Construction team decided to set up a full-time Phoenix office.
"Clout is a younger-generation form of reputation, essentially. CloutConstruction.com was available and I was kind of surprised by that. That's what we decided to run with," Reed said.
The company has ongoing projects for Caliber Collision in the Phoenix metro and is looking at different multifamily and retail projects. Reed said the company isn't looking to specialize just yet in the types of projects it pursues. It has 15 employees across the board.
Clout found a Tempe office at 8601 S. Priest Drive, Suite 101. With an office secured for his company, Reed is looking for a full-time space himself.
"I've been living here in my RV since April," Reed said.
Gilbert office trades hands
Building 6 at The Reserve at San Tan, which is part of a larger office project, has been acquired by Los Altos, California-based West Valley Properties for more than $53 million, according to real estate database Vizzda.
West Valley Properties put down more than $23 million from a new loan to finance the purchase from Phoenix-based Orsett Properties. The deal closed in July, according to an affidavit of property value recorded in the Maricopa County Recorder's office.
Building 6 at The Reserve at San Tan, located at 355-365 E. Germann Road in Gilbert and includes a Press Coffee Roasters.
The 149,321-square-foot complex was built in two phases. The first phase, which was a Best of NAIOP 2019 spec office project of the year nominee, was developed by Orsett and built by Layton Construction. Butler Design Group and Phoenix Design One Inc. handled the exterior and interior design, respectively. Financing was done through the National Bank of Arizona.