The Downtown-Midtown Trifecta

by John Bonnell and Brett Abramson

A new wave of office, retail and multifamily activity has arrived in downtown and midtown Phoenix. The combination has created a self-supporting trifecta that is transforming these urban submarkets into true live-work-play environments, and attracting high-quality office tenants in droves. Significant leases from tenants like Quicken Loans, Uber Technologies, Spaces and Integrate Software have helped… [More]

Arizona Center Adds Hotel

by Mike Hunter

Arizona Center, Phoenix’s original downtown entertainment destination located at 3rd St. and Van Buren, plans to add an AC Hotel by Marriott to the property. Arizona Center owners Parallel Capital Partners is partnering with Las Vegas-based LaPour Partners on the 200-key upscale, urban-inspired select-service AC Hotel Downtown Phoenix at Arizona Center, with a classic yet… [More]

24th at Camelback Refresh

by Mike Hunter

At 24th at Camelback, in the prestigious Camelback Corridor, a new monument sign and refreshed street landscaping are part of exterior ground-floor renovations that are expected to be completed this month. “Hines is investing nearly $1 million in improvements at the 24th at Camelback campus as part of our continued commitment to ensure we stay… [More]

The Block at Pima Center Leases Include Hotel Duo

by Mike Hunter

The Block at Pima Center, being developed by MainSpring Capital Group, has attracted a dual brand set of Hilton hotels. Sharing common registration and lobby space, Tru by Hilton and Home 2 Suites will offer a combined 166 rooms. Tru by Hilton is a new hotel experience that was designed to be vibrant, affordable and… [More]

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]