Life Coach in Casa Grande, AZ

Ecobat, one of the largest battery recyclers globally, has made plans to locate its its first North American battery recycling facility in the Phoenix metro and bring 60 new jobs to the area.

The company announced that the facility will be located in Casa Grande and is Dallas-based Ecobat's third lithium-ion battery recycling facility. The new location will produce an estimated 10,000 tons of recycled material per year with plans to expand capacity. Operations are expected to start in the third quarter of 2023.

"This facility, like our lithium-ion battery recycling facilities in Germany and the United Kingdom, represents a significant milestone in Ecobat's strategy to grow our lithium-ion battery recycling business to a scale, similar to our world-leading lead battery recycling business," said Ecobat CEO Marcus Randolph in a statement.

Ecobat Solutions Arizona Inc. purchased an existing facility for $9.6 million in all cash along V I P Boulevard just south of Main Avenue in Casa Grande in December, Pinal County documents show. Ecobat acquired the 64,600-square-foot facility on about 10 acres from Casa Grande Professional Investments. It's unclear whether Ecobat plans to build an additional facility or use the existing building for operations.

The company said its new location will be located about one mile from its existing Ecobat Resources Arizona facility, which has manufactured anodes for 15 years and is located at 602 Swanson St. in Casa Grande.

Ecobat said it will repurpose lithium-ion batteries that are reaching the end of their life through diagnostics, sorting, shredding and material separation to produce a "concentrated black mass containing the valuable materials in lithium-ion batteries."

"I get asked constantly, what are we going to do when we totally convert to electric vehicles and we have to deal with old batteries," said Casa Grande Mayor Craig McFarland in a statement. "This new lithium-ion battery recycling plant is a great example of exactly what we need; a company succeeding and expanding a sustainable operation in our community. We welcome the second component of their operations to the city of Casa Grande and applaud their efforts to use sustainable practices in their industry while providing jobs for residents who look for opportunities to work closer to home."

Pinal County has become home to the growing electric vehicle and energy storage industries over the past decade with the additions of Lucid Motors, Nikola and LG Energy Solution. Last year, Heritage Battery Recycling, an affiliate of Cirba Solutions, announced plans to build a lithium-ion battery recycling facility in Eloy.

Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE Group Inc. represented Ecobat on the sale, while John Pompay and Will Groves of Cushman & Wakefield represented the seller, according to real estate database Vizzda.

Ecobat said that in 2021, its battery recycling business fully recycled 70 million car batteries.

Bear's Workshop is back with his 160th flyover of the Lucid AMP-1 factory in Casa Grande, AZ, giving us a valuable look at construction progress and the number of Lucid Airs being built.

In the two weeks since Bear's last flyover Lucid AMP-1 has continued to grow with new walls installed to close in some of the buildings under construction.

The video starts with a thick fog blanketing the factory and construction sites so the drone has to stay at a relatively low altitude. We can see a pair of the ever-present car haulers picking up more Lucid Airs for shipping as well as a great number of examples of the record-breaking electric sedan parked in outdoor lots.

The site is a hive of construction activity, with equipment and significant amounts of materials scatted throughout. Temporary roads wind through the site, while large areas that have already been graded are roped off awaiting imminent construction.

Lucid Lots Filling Up Perhaps the most striking thing about the latest flyover is the number of finished (or close to finished) Lucid Airs parked around the site. There are some examples of the Lucid Air Pure, which can be identified by its having a metal body colored roof, but most appear to be Grand Tourings and Tourings.

There's also a lot with what Bear estimates to be around 1400 Lucid Airs in another location on the site. These have been there for some time, assuming the stock hasn't been rotated in or out. Some of Bear's viewers speculate that these cars are part of the 100,000 unit deal with the Saudi government though the man himself is less sure. Maybe these vehicles are awaiting some kind of missing part, or maybe they feature some kind of manufacturing defect and can't be shipped out. Future flyovers will tell if they stay there longer or head out on a car hauler.

A Clearer Picture Some time later the fog lifts giving way to a sunny Arizona day and we can see the rest of the factory in sharp focus. There's the ongoing addition to the building featured in the very first press photos of AMP-1 as well as more finished Airs here and there plus plenty of empty parking lots with more under construction. How quickly Lucid fills the spaces remains to be seen.

Here's the entire flyover thanks to Bear's Workshop on YouTube.

James Walker is an Automotive Journalist at Torque News focusing on Lucid Motors. If it's got wheels he's interested, and he's looking forward to seeing what kind of cars the EV revolution brings us. Whether it's fast, slow, new, or old, James wants to have a look around it and share it in print and on video, ideally with some twisty roads involved. You can connect with James on Twitter, Instagram, and LinkedIn.

Below is Validea's daily guru fundamental report for LUCID GROUP INC (LCID). Of the 22 guru strategies we follow, LCID rates highest using our Shareholder Yield Investor model based on the published strategy of Meb Faber. This strategy looks for companies returning cash to shareholders via dividends, buybacks and debt paydown.

LUCID GROUP INC (LCID) is a large-cap growth stock in the Auto & Truck Manufacturers industry. The rating using this strategy is 60% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.

Company Description: Lucid Group, Inc. is an automotive company, which is focused on designing, developing, manufacturing and selling of electric vehicle (EV), EV powertrains and battery systems in-house using its own equipment and factory. The Company offers at its own geographically distributed retail and service locations and through direct-to-consumer online and retail sales. It also boasts a product roadmap of future vehicle programs and technologies. The Company's focus on in-house technological innovation, vertical integration, and a clean-sheet approach to engineering and design has led to the development of its groundbreaking electric vehicle, the Lucid Air. The Lucid Air is a fully electric sedan that targets post-luxury consumers. The Lucid Air is manufactured at its greenfield electric vehicle manufacturing facility in Casa Grande, Arizona, Advanced Manufacturing Plant-1. It sells vehicles directly to consumers through its retail sales network and through direct online sales.

The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.

Detailed Analysis of LUCID GROUP INC

About Meb Faber: Meb Faber is the founder of Cambria Investments. His research has covered a wide spectrum of the investment world, including topics like shareholder yield, trend following, global asset allocation and home country bias. His shareholder yield strategy, which is based on his book "Shareholder Yield" and forms the basis for an ETF of the same name, looks for companies that are focused on creating value for shareholders by returning cash to them in the form of dividends, share buybacks and debt paydown. Meb is also the author of 4 other books and numerous white papers on investing related topics.

About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

By Howard FischerCapitol Media Services

PHOENIX -- Arizona lawmakers are moving to block the sale and lease of state lands to foreign governments and certain foreign corporations -- but not the one that has caused the concern in the first place.

HB 2376, approved by a 7-2 vote Thursday by the House Committee on Lands, Agriculture and Rural Affairs, spells out that none of the more than nine million acres owned by the state can end up in the hands of any foreign government or state-controlled enterprises, whether permanently or through a lease.

And the measure, which now goes to the full House, also would impose the same restrictions on any company headquartered in China, Cuba, Iran, North Korea, Russia, Syria or Venezuela. Ditto for any firm whose majority of shareholders are from those countries.

But Rep. Mariana Sandoval, D-Goodyear, pointed out that list does not include Saudi Arabia. And it is Fondomonte, a company controlled by Saudi interests, that is leasing 3,500 acres of state land in La Paz County and pumping huge quantities of groundwater to grow hay to feed cattle in Saudi Arabia, something that occurred after that water-starved country banned the growing of such crops there.

House Minority Leader Leo Biasiucci, R-Lake Havasu City, said there are talks going on among lawmakers whether to add that country, though nothing lawmakers do now could affect existing leases.

That, however, still did not satisfy Rep. Keith Seaman, D-Casa Grande.

"There are other countries as well who we may not want to own land in Arizona,'' he said. And Seaman specifically cited Afghanistan, Pakistan and Vietnam.

"It's a very good question,'' Biasiucci conceded. "Do we go through and start to pick and choose which countries might be against us or obviously we have histories with?''

The simpler solution, he said, was starting with those countries designated by the U.S. State Department as "state sponsors of terrorism'' and add to that "the ones that have been negatively impacting us constantly,'' meaning China and Russia.

And Biasiucci specifically questioned why Vietnam would be on a list of hostile countries.

"There's been no proof, in my opinion, of them doing anything that's been negatively impacting us,'' he said.

But Rep. Lydia Hernandez, D-Phoenix, said that's missing the point if at least part of the purpose of the legislation is to keep others from exploiting Arizona's limited water supply. In fact, she said, perhaps the measure should be expanded to keep companies based not just in other countries but hose from other states from buying or leasing state lands and thereby getting the water rights that come with the property.

"I mean, they are able to come in and do the exact same thing,'' Hernandez said.

Biasiucci showed no interest in expanding his legislation. He said, though, that the concerns are valid, specifically mentioning "hedge fund companies.''

"They're coming in and they're just looking for that water,'' Biasiucci. "They're just coming in and exploiting the resources and getting out.''

What might be better is more oversight of the deals being made by the state Land Department.

It was that agency that agreed to lease nearly 10,000 acres of state land near Vicksburg on the state's western edge for $25 an acre per year.

But the key is that the company gets to pump all the groundwater it could use as part of the lease. And that's because Arizona has lax regulations of water use in rural areas.And there's something else.

The Land Department is charged by law with obtaining the highest return possible on the sale and lease of lands, with the proceeds benefiting some state functions, mainly public schools. And there appears to be nothing in statute that allows the agency to refuse an offer of money and instead allow the land to sit unused -- with no revenues.

Biasiucci said perhaps what's needed is legislation that creates a special committee to review the deals being made by the Land Department, presumably with some power to step in and stop some of the sales and leases being proposed.

Rep. Michael Carbone, R-Buckeye, said that deciding which land deals with foreign entities the state should approve could prove difficult.

He cited, for example, Taiwan Semiconductor Manufacturing Co. which purchased 1,128 acres of state land in north Phoenix where it wants to construct a $12 billion factory.

"When you have folks coming into our country to invest, that's good,'' Carbone said. "We need to bring manufacturing and stuff back to our country and get back to doing business with folks that have the same like-mindedness that we do, at least in the sense of not being adversarial, hostile.''

Sandoval, however, said she's not convinced that the measure will accomplish its true purpose of protecting Arizona water.

"It's not addressing the real issue on the groundwater supply being exploited by entities,'' she said in refusing to support the measure.

The new year could be a good one for The Promenade at Casa Grande as a major discount retailer, a hotel, a popular pizza restaurant and more have plans to build or perhaps even open in 2023 at the shopping center.

Home furnishings and décor store HomeGoods, a subsidiary of Framingham, Massachusetts-based TJX Companies Inc., which also owns TJ Maxx and Marshalls, has leased the former Bed Bath and Beyond space near Ross Dress for Less at the large shopping mall located just off Interstate 10, a source close to the deal confirmed.

A timeline for the store’s opening wasn’t available as the company declined to comment on its Casa Grande lease.

“Although we appreciate your inquiry, HomeGoods has not announced a new store for Casa Grande, AZ at this time,” a HomeGoods spokesperson said in an email to the Business Journal.

Mesa-based Southwest Hospitality Management is developing a dual-branded Marriott hotel on two pad sites totaling 3.5 acres it bought at the southeast corner of the Promenade facing Florence Boulevard, said Ash Patel, who serves as CEO and president of the hotel management and development company. The project has been in the works for about two years.

The four-story Fairfield Inn & Suites and TownePlace Suites hotel will have 145 rooms and will comprise 88,000 square feet, including a 2,400-square-foot conference room, he said. Rooms under the TownPlace Suites brand will be equipped for extended stay guests. Other amenities will include a dog park, outdoor pool and a patio with barbecue grills.

While the final costs are still in flux as the developer seeks bids from general contractors, Patel said he expects the hotel will cost roughly $28 million to develop. He anticipates construction could start in March and April.

Patel said his company wanted to build a hotel in Casa Grande because it is an emerging market, with a booming population and commercial development, but with few new hotels.

“We targeted Casa Grande as an emerging market once it went over a 50,000 population,” he said.

With Southwest Hospitality Management being based in Arizona, Patel said his company saw the demand for more hotel rooms with Lucid Motors expanding in Casa Grande, Nikola Corp. in nearby Coolidge and more recently with Procter & Gamble announcing a new plant in Coolidge and semiconductor suppliers building facilities in Casa Grande.

Additionally, Barro’s Pizza purchased the former Mimi’s Café location at 839 N. Promenade Parkway, which closed during the pandemic, for $1.68 million on July 15, according to real estate database Vizzda. The seller was Rocky Yee and Therese Yee Living Trust.

Barro’s Pizza, through a spokesperson, declined to comment on its timeline for opening a second location in Casa Grande. The restaurant chain already has a popular location near the Fry’s grocery on the north side of the city at 2820 N. Pinal Ave.

The $100 million Promenade at Casa Grande, which is considered a regional power center, has faced an uphill battle since first opening during the Great Recession in 2007. New Jersey-based Lamar Companies bought nearly 500,000 square feet of the 1 million-square-foot shopping center in 2018. Kohl’s, Target, JC Penney and Dillard’s among others own their properties at the center.

Leasing activity has picked in the last couple years at the Promenade as the city’s population began to boom because of the demand for housing in the region, said Daniel Tartakovsky, leasing manager at the Promenade for Lamar Cos.

“I don’t think we lost a single tenant due to Covid at this shopping center, and that was simply because we were able to come in and make sure that they were healthy and that they stayed,” he said. “Their sales were so good previously that they wanted to stay. They were willing to tough it out with us.”

Ashley Outlet opened in 2022 in a 18,000-square-foot space that was vacant for five years, Tartakovsky said. Love Always Yoga is now open in a 4,200-square-foot space and Cloud 9 MedSpa has expanded from 1,300 square feet to 5,200 square feet.

“We have these national tenants coming in,” Tartakovsky said. “We have a ton of interest on pads from national users. We probably have three LOIs (letter of intent) for contracts out right now on some of those pads as well as courting probably another two national tenants, which would be big box [retailers]. And then another three or four smaller … lifestyle brands.”

Overall, he said the shopping center has 60 stores operating or preparing to operate and 11 vacate spaces. Three of those spaces are lease pending, he said.

So, going into 2023, Tartakovsky projects the shopping center will have nine available pad sites and nine available retail spaces totaling 85,000 square feet of leasable space. About half of that space is one unit — the former Sports Authority, which closed in 2016 as part of the retailer filing for bankruptcy.

Notably, Target still owns its 10.6-acre site and its 136,000-square-foot store at the center of the Promenade that was shuttered in 2016.

A Target spokesperson declined to comment on the store.

Tartakovsky said the vacant store is a “big black eye on the shopping center.” But if the major retailer happened to reopen, he said the remaining retail space would be leased in a matter of weeks.