The Phoenix metro is one of the fastest-growing industrial markets in North America due to increasing demand for big-box (200,000 sq. ft. or larger) warehouse space, according to a new report from CBRE. With a growth rate of 14.3% in 2022, Phoenix ranks as the top growth market in North America. The Valley’s industrial market continues to be driven by a diverse set of … [More]
Investment Group Set to Break Ground on One of the Largest Industrial Parks in Arizona History
Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is set to break ground on Phase I of LogistiCenter℠ at Copperwing, commencing construction for one of the largest business parks in Arizona history. LogistiCenter℠ at Copperwing is located at the Northern Parkway … [More]
Partnership Brings Additional New Affordable Housing to Phoenix
Blackstone, through its affordable housing portfolio company, April Housing, and Dominium, a leading affordable housing owner, developer and manager, announced an expansion of their partnership to develop Casa Azure, which will bring 196 new affordable housing units to Phoenix, Arizona. Building on its commitment to preserve and create new affordable housing, Blackstone will … [More]
Phoenix Council Approves $150,000 in Grant Money to Assist in the Rehabilitation of a Historic Motel
The Phoenix City Council approved a $150,000 grant to rehabilitate a portion of the 63-year-old “City Center Motel" in the heart of downtown. The restoration of the historically designated main building is part of a larger project to build a new multi-story high-tech hotel. The main building at 600 W. Van Buren Street, is a rare remaining example of “Googie-style" roadside … [More]
Fox Restaurant Concepts to Bring Three Popular Brands to Trailblazing Multi-Phased Tempe Development
Novus Place, the new main street entertainment district in the latest phase of the Novus Innovation Corridor, adjacent to Arizona State University’s Tempe campus, is cooking up great things with Fox Restaurant Concepts as its new anchor tenant. FRC will bring three popular concepts – Flower Child, Blanco Taco Cocina + Cantina, and North Italia – to the entertainment district in … [More]
Law Firm Signs 30,000 SF Lease in Advance of Major Amenity Upgrades at Esplanade
The leasing and brokerage team at the Esplanade office building have announced that Perkins Coie has signed a new 30,000-square-foot lease agreement. A leading international law firm, Perkins Coie will relocate its Phoenix office to Building II at the Esplanade located at 2525 E. Camelback Rd. in the Biltmore area. Perkins Coie was represented by Scott Goldman and Larry … [More]
Latest Crane Count Reaches All-time High, Phoenix on the Rise
International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its latest Crane Index and Quarterly Cost Report. Together, the two documents provide an eye-opening perspective on the North American construction industry in 14 key markets. With data current to mid-Q1 2023, the latest RLB quarterly cost report shows that the national average … [More]
Arizona Coyotes Development Arm Files Claim Seeking $2.3B from Phoenix City Hall
The Arizona Coyotes and its development arm, Bluebird Development, have filed a claim against the City of Phoenix for $2.3 billion claiming it broke its word on a plan to convert a hazardous unlined Tempe-owned landfill into a new sports and entertainment district next to Tempe Town Lake. On March 27th, Sky Harbor filed a complaint against the City of Tempe claiming the … [More]
Construction Co. Adds to Arizona Office with Director-Level Hirings
Big-D Construction is proud to announce it has expanded its presence in Arizona with the hiring of a director of preconstruction and a director of multi-family. The general contracting firm’s Southwest office hired industry experts Rod Miller as director of preconstruction and Theresa Schultz as director of multi-family. Miller will be responsible for assisting the … [More]
Metro Phoenix Office Revitalization Designed to Set New Standard for Workplace Culture and Amenities
Phoenix-based developer George Oliver, known for its cutting-edge office redevelopments, has unveiled plans for Bond, a $52 million renovation that will transform the landmark Biltmore Commerce Center into a hospitality-inspired office experience where thoughtfully crafted amenities and modern design bring teams together in an unparalleled workplace at the heart of the … [More]
