By Phoenix Business Journal

Two solar companies â¿¿ Rioglass Solar Inc. of Spain and Gestamp Solar Steel US Inc. â¿¿ have purchased land in Surprise to build new manufacturing facilities. The announcement was made by CB Richard Ellis in Phoenix, which represented the buyers.

Rioglass paid $1.74 million for 18 acres. Gestamp Solar paid $2.61 million for 27 acres. Both properties are located in the Skyway Business Park, a master-planned industrial development west of Cactus and Dysart roads.

The seller in both transactions was Masco Corp. in Taylor, Mich., which was represented by Colliers International of Greater Phoenix. CB broker Greg White attributed the sales to Arizona Senate Bill 1403, which creates tax credits for renewable energy companies.

⿿The new facilities will add hundreds of jobs to the West Valley economy, along with millions of dollars in capital improvements,⿝ White said in a news release.

Copyright 2011 American City Business Journals
Copyright 2010