PhoenixMart earns building permit; work may finish ahead of schedule
CASA GRANDE — AZ Sourcing, parent company of PhoenixMart, expects construction on the project to take place rapidly over the next two months after the city of Casa Grande granted a building permit in June.
In an email statement sent from AZ Sourcing Chief Operating Officer Marshall Stahl, the company projected the wholesale center’s main building core to be up by the end of the year.
The accelerated rate of construction was attributed by Stahl to additional funding supplied by the company’s board members. PhoenixMart was expected to be funded through the EB-5 federal immigrant investor program, which hands out U.S. visas to foreigners that invest at least $500,000 in an American project, but that plan ran into problems.
The FBI reportedly was investigating one of PhoenixMart’s former investors during a raid of the company’s offices last November. The agency did not release details at that time on the reason for the investigation.
