Phoenix Has Decade of Strong Industrial Construction

by Mike Hunter

It’s been quite a fruitful year so far for industrial real estate in the United States, reports Yardi Matrix in its recent “Top 50 Cities for Industrial Construction in the Past Decade”. Citing the National Real Estate Investor, Yardi Matrix reports that total industrial sales are expected to exceed 2016 levels this year, marking the second-best… [More]

Sky Harbor Market ‘Coveted’

by Mike Hunter

CapRock Partners, a leading private industrial real estate investment firm based in Orange County, California, has acquired a distribution/manufacturing facility in the highly sought-after Sky Harbor submarket of Phoenix. “This asset is an ideal fit for our growing portfolio, as it is located in one of Phoenix’s most desirable submarkets and will allow us to… [More]

Race to Remodel

by Mike Hunter

The home renovation business is booming as owners of high-end homes aim to increase the value of their homes for sale in a market where median sale prices have stagnated for homes built more than 10 years ago, due to an increasing inventory of high-priced but rapidly aging homes plus competition from new homes. Square… [More]

Big Box Repurposed

by Mike Hunter

Consumer Cellular has signed a 164,000-square-foot lease with Everest Holdings — represented by Ashley Brooks in CBRE’s Phoenix office — in a former Sam’s Club located at 17500 N. Black Canyon Freeway, following the empty big-box store’s conversion to a single-tenant office building. The national cell phone services provider will occupy the space beginning in… [More]

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]