Big Activity in Big Box Leasing

by Mike Hunter

Greater Phoenix’s retail market activity through Q2 was driven by big box leasing, according to CBRE Research. Q2 was highlighted by 458,268 square feet of positive net absorption, with 14 leases of more than 20,000 square feet signed in the quarter. There was nearly 520,000 square feet of big box space absorbed in Q2 solely… [More]

Industrial in Surprise

by Mike Hunter

LGE Design Build has begun construction on Skyway Commons, a large-scale, two-part commercial project set to take shape in Surprise. Offering a combined 450,000 square feet of Class A industrial space and spearheaded by Silagi Development, the $10.7 million project at Dysart and Rioglass Solar roads will accommodate small to mid-sized industrial tenants. The first… [More]

Valley’s IKEA No. 2 

by Mike Hunter

IKEA is submitting plans to the City of Glendale for its second store in the state. Pending approvals, construction could begin in Fall 2018 with an opening in Spring 2020 at the southeast corner of Loop 101/Agua Fria Freeway and Bethany Home Road. Store plans for 348,000-square-foot IKEA Glendale would reflect the same unique architectural… [More]

Tacos, Bowling, Nightlife

by Mike Hunter

LGE Design Build is looking to complete construction on an entertainment destination, pairing the Mexican eatery Casa Amigo and high-end bowling alley Sky Lanes that will take over the 16,238-square-foot, two-story Livewire space, before the end of the year. The bottom floor will offer open-air dining and an expansive bar in a setting that transforms… [More]

Headline News Impacts Real Estate 

by Mike Hunter

From state and local budget impasses and halted infrastructure repairs to the debate and delay on healthcare reform, political polarization has far-reaching effects on the economy and nearly every community — as well as its real estate. Global uncertainty has a parallel paralytic effect, from Brexit to immigration bans, which bring new challenges to diplomacy,… [More]

More Shop, Dine, Play 

by Mike Hunter

Fifty-three thousand square feet of shopping, dining and entertainment — alongside luxury residences — is expected to welcome patrons next summer, as development has begun on Chauncey Lane at the corner of Scottsdale Rd. and its namesake lane. “The trend nowadays is to stick closer to home,” says LGE Design Build President and CEO David… [More]

Artist at Work 

by Mike Hunter

The Creative Center of Scottsdale is a co-working space designed especially for artists of all kinds. While equipped with today’s di rigueur technology and community spaces, the 4,000-square-foot facility retains interesting pieces of its former life as Mandall’s Shooting Supplies. Along with the original double-decker safe and the sub-basement safe door are the historic handmade… [More]

Expanding for Adventure

by Mike Hunter

LGE Design Build has begun construction on a new, 12,550-square-foot headquarters for Arizona Outback Adventures, a premier, Scottsdale-based provider of personalized tours and travel services. Construction began Aug. 1 on the new $1.7 million facility, which will take over 16465 N. 93rd Street in Scottsdale upon completion. Currently, the company accommodates more than 15,000 locals… [More]

Multifamily Reflects Booming Phoenix Economy

by Marcus & Millichap

Positive forces converge and are maintaining momentum in the multifamily sector, according to Marcus & Millichap’s Multifamily Research Market Report for second quarter 2017. Vacancy is expected to fall for the eighth consecutive year as economic growth supports continued success in the Phoenix apartment market. Corporate expansions and relocations from large, international companies such as… [More]

Grocery Anchors Multifamily in Tempe

by Mike Hunter

The Local, a new, mixed-use development located on an 80,938-square-foot parcel at the intersection of University Drive and Ash Avenue, broke ground last month. Developed by Denver-based Forum Real Estate Group, The Local will be a unique luxury apartment residence anchored by Whole Foods Market 365 on the ground floor, with three levels of parking… [More]