The Opportunity Zone Program (Part 1)

by Marc L. Schultz

Buried in the recently enacted Tax Cuts and Jobs Act was the creation of the Opportunity Zone Program. This new federal income tax incentive program is designed to encourage private capital investment in Opportunity Zones — designated distressed communities throughout the United States (including possessions of the United States). Specifically, the Opportunity Zone Program seeks… [More]

Phoenix Retail Starts the Year Strong

by Mike Hunter

Based on newly released Q1 data, Colliers International Group predicts the Greater Phoenix retail market is expected to thrive during 2018. Retail expansion is forecast to continue as population grows and the local housing market improves. Permitting activity for new homes has increased, which will support retailers. As shopping centers experience higher demand, rents will… [More]

Phoenix Industrial Market 

by Mike Hunter

Lee & Associates Arizona reports the Phoenix industrial market continues its positive momentum after a record year in 2017, with 1,359,837 square feet of positive absorption in Q1 2018.  Vacancy dropped to 7.5 percent from 7.8.  A total of 13 buildings were delivered in Q1 2018, totaling 917,028 square feet.  Who is buying industrial in… [More]

Scottsdale Galleria Targeted for Major Back-Office

by Mike Hunter

Expertise in high-performing back-office product has earned the Phoenix office of JLL the exclusive listing assignment for the Concourse Level of the Scottsdale Galleria – a 140,000-square-foot space offering triple redundancy and the Class A amenities to attract major, power-dependent back-office tenants to the heart of Old Town Scottsdale. The JLL assignment from Stockade Capital Partners is… [More]

Own Homes for Adults with Special Needs 

by Mike Hunter

Millions of families across America have a loved one with special needs and have struggled with finding appropriate permanent housing. Luna Azul, a new development of 30 homes in North Phoenix, addresses that problem. Developed by Mark Roth and located at 16th St. and Loop 101, the development is the nation’s first for-sale residential community… [More]

Three-Car Garages an Option 

by Mike Hunter

Camelot Homes, a third-generation homebuilder in Scottsdale, launched a three-car garage option for attached single-family luxury homes at Adero Villas in Fountain Hills. Noting the option is rare for attached homes in the Valley, Cammie Hancock Beckert, managing director of Camelot Homes, says, “Buyers in the area are looking for convenience and extra space in… [More]

Impacting Commercial Real Estate

by John Chang and Ryan Sarbinoff

Over the last year, elevated uncertainty generated by the range of potential government policy changes, including tax laws, caused many investors to move to the sidelines. A more cautious outlook pervaded the real estate industry as investors awaited clarity on taxes, fiscal policy and a change in Federal Reserve leadership. This perspective begins to ease… [More]

Cross-Border Real Estate Investing 

by Ruth Seigel

Canada is the largest foreign direct investment country into Arizona. And Arizona, alone, accounts for approximately $6 billion bilateral footprint of the $1.4 trillion between Canada and the U.S., according to the Canada Arizona Business Council. Our neighbors to the north have long been lured to the great state of Arizona and share similar reasons… [More]

Balance Neighborhood Concerns with New or Re-Development 

by Adam Baugh

An army of red shirts, slogan pin buttons, protest signs and opposition websites. These efforts describe the recent increase in opposition to infill redevelopment, rezoning and community planning.  Neighborhood outreach and citizen involvement is a bedrock principle in the development process. By ordinance, local jurisdictions require developers to notify and meet with neighbors for a… [More]

Value-Add Opp in Mesa

by Mike Hunter

MIG Real Estate, a Newport Beach-based real estate investment company, acquired Trails at Harris Apartments, a 209-unit multifamily property in Mesa. The property aligns with MIG’s philosophy, which is centered on improving the quality and performance of its properties to achieve optimum value. Trails at Harris Apartments will undergo significant enhancements as MIG Real Estate… [More]