40 Years of Change – Where the Multihousing Industry Is Headed in the Valley 

by R. Chapin Bell

Starting out as a necessary form of housing in the Valley, the multihousing industry has evolved to be a go-to choice for residents, which has helped keep the health of this industry strong. There has always been demand for apartments, but demand has risen as a result of demographic changes and as the renters of… [More]

Building Office in Perimeter Center, Scottsdale 

by Mike Hunter

A local partnership known as DBM Ventures has purchased 2.79 acres at 8399 E. Hartford Dr., within Perimeter Center in the dynamic Scottsdale Airpark submarket, with plans to develop a $9-million, 32,054-square-foot office building. Construction is slated to begin at the end of this year with occupancy scheduled for summer 2019. LGE Design Build will… [More]

Independent Living Apartments Planned

by Mike Hunter

The Wolff Company — a Scottsdale-based private equity firm and developer — has purchased property in Scottsdale, Arizona, with plans to develop a refined senior community called Revel Scottsdale. The finished property will include a commercial kitchen, dining room and bistro, resort-style saltwater pool and spa, state-of-the-art fitness center, modern club room, and media lounge.… [More]

Urban Infill Development Potential

by Ioana Ginsac

Combining a new inventory focused on vacant parcels located in central business districts (CBDs) with in-depth research on CBD construction activity as well as a 25-city survey that gauges what developments are most desirable to the local urban population, COMMERCIALCafé research shows that recent development efforts have failed to address the needs and wants of… [More]

The Opportunity Zone Program (Part 2)

by Marc L. Schultz

The Opportunity Zone Program is new federal income tax incentive program designed to encourage private capital investment in Opportunity Zones (O-Zones), which are certain designated areas throughout the United States.  Opportunity Funds (O-Funds) act as intermediaries between O-Fund investors and the actual investments in the O-Zone. O-Funds are required to hold 90 percent of their… [More]

Taking the Pulse of the Medical Office Market 

by Mike Hunter

The medical office space market slowed during the first three months of 2018. Rents fell, vacancy rose and sales of medical office properties fell off a bit. However, Colliers International anticipates this is a temporary disruption since fundamentals of the market remain strong. Vacancy in medical office buildings rose 10 basis points during the first… [More]

Free Workplace-Design Tool

by Mike Hunter

CBRE Group, Inc. has created workplace planning product to help companies apply best-in-class workplace trends to their office layout, recognizing businesses’ increased interest in applying workplace strategy to their real estate process. The first of its kind in the industry and available to companies of any size, Spacer delivers a custom, architect-ready space program with… [More]

Age-in-Place 

by Mike Hunter

In partnership with Cadence Senior Living, Ryan Companies US, Inc. is designing, developing and building Azure Mesa, an upscale senior living community with an “age-in-place” model that will accommodate a total of 170 private pay, market-rate units. Construction on the 183,000-square foot project is now underway and expected to be complete in Summer 2019. HFF… [More]

Developer Expands into AZ

by Mike Hunter

Landsea Homes enters the Arizona market with the purchase of land in Chandler for a community that will include 78 single-family homesites and resort-style amenities. Land development is expected to begin in fall 2018, and the first closings are expected in late 2019. “Chandler’s low unemployment, steady job growth and premier school district have made… [More]

Repurposing Prestigious Home Sites

by Mike Hunter

Custom homebuilder Green Street Communities has broken ground on two residential neighborhoods in Arcadia and Central Phoenix.  Campus Grove, located in the Arcadia area, will offer four different floorplans for its 13 lots. The one- and two-story homes will range between 1,879 and 2,850 square feet.  Acacia Court, northwest of 7th and Northern avenues, is in… [More]