The cultural effects of the last few years have been significant and have led to fresh perspectives on personal well-being and economic and environmental issues. By viewing design through a filter of cultural, social and economic shifts, we can identify trends that are temporary or evergreen, widespread or localized, and help navigate our clients to a solution that aligns with … [More]
The Future of Mixed-Use Communities in Phoenix
The 5 T’s are the new 5 C’s
For more than a century, Arizona’s economy has heavily relied on the 5 C’s: copper, climate, citrus, cattle and cotton. Even today, the 5 C’s serve as defining elements of Greater Phoenix’s cultural identity. But Arizona’s capital and its surrounding metropolitan area have experienced remarkable growth in recent years; as a metropolitan area, Phoenix is one of the fastest … [More]
Metrocenter Mall Redevelopment Begins
As walls came down at Metrocenter Mall on November 18, a new vision was unleashed for the 80-acre property. The demolition marks the start of an $850 million redevelopment, transforming the site into a vibrant multi-use, self-contained, transit-oriented community encompassing the city’s new Metro Light Rail station, which will serve as one of the major focal points of the … [More]
Ultra Infill Industrial for Sky Harbor Submarket
Full-service commercial real estate firm Lincoln Property Company will redevelop an infill site in the heart of Tempe into Sky Harbor Logistics, a two-building Class A industrial campus situated minutes from Interstate 10 and Sky Harbor International Airport. Lincoln acquired the property, located on 16.25 acres at 1515 W. 14th St., for $18.3 million. Originally built in 1977 … [More]
Redevelopment Adds Industrial in Airport Submarket
Evergreen Devco, Inc., a leading retail, multifamily and industrial development company, has entered the airport submarket with a $13-million investment for 12.68 acres on two key sites that will become 48th@Alameda. Currently housing a vacant two-story office building, 2727 South 48th Street will be redeveloped to construct two speculative industrial buildings totaling 171,025 … [More]
Office with Warehouse Near Sky Harbor
Cohen Asset Management, a private real estate investment firm headquartered in Los Angeles, contracted Tempe-based Sun State Builders to construct its 33,450-square-foot office suite and airconditioned warehouse project located just west of Phoenix Sky Harbor Airport. The Cohen Sky Harbor Building is a ground-up tilt panel construction that is targeted for completion in July … [More]
World’s Largest Classic Car Sales Co. Joins the $500M Peoria Place Master Plan
Greystar, a global leader in the investment, development and management of institutional-quality commercial real estate, has signed a lease with Gateway Classic Cars, representing its first tenant commitment at the three-building, Class A Caliber by Greystar industrial development in Peoria, Arizona. Under the lease, Gateway Classic Cars of Scottsdale will occupy 43,809 square … [More]
Built-to-Rent Single-Family Home Community Fills Need for West Valley Luxury Rental Housing
Phoenix-based Curve Development announced today the Nov. 23 opening of Cyrene at Skyline, a new build-to-rent single family home community in the West Valley that fills the needs for luxury rental living with the privacy of a single family home. Located in Waddell, Ariz., about 30 miles west of downtown Phoenix and conveniently located next to Luke Air Force Base, Cyrene at … [More]
68,000-SF Medical Center Breaks Ground in Gilbert
Construction starts on Celebration Medical Center amid growth in the East Valley
The groundbreaking ceremony took place on Wednesday for Celebration Medical Center, a new 68,000-sq.-ft. Class A medical office development in Gilbert, Ariz., led by development firm Okland Capital. CBRE is marketing the facility for lease. "We are thrilled to break ground on this highly anticipated project in the heart of the Mercy Gilbert Medical Corridor. This development … [More]
Groundbreaking of Verrado Marketplace, Unveils Expanded List of Restaurants and Retailers
Vestar, the largest privately held shopping center owner and manager in the western United States, has officially broken ground on Verrado Marketplace, the West Valley's next generation shopping center. In a ceremony attended by city leaders, developers, retailers, and community partners on Wednesday, November 20th, attendees heard remarks from Buckeye Mayor Eric Orsborn, … [More]
Willmeng Announces 100% Employee-Owned Firm, 100th Arizona ESOP Milestone
Willmeng, one of the largest, privately-held commercial general contractors in Arizona, announced it has transitioned to become an 100% employee-owned firm, launching an Employee Stock Ownership Plan (ESOP), making it the 2th largest Arizona-based employee-owned general contractor and No. 8 among all construction-related ESOP firms. The announcement was made to the entire … [More]
Phoenix among North America’s Top 30 Tech Hubs, Says Report
Tempe remains the Valley’s premier tech submarket
Phoenix ranks among the top North American tech markets for office leasing activity this year, registering gains in both office rents and tech jobs,, according to CBRE’s annual Tech-30 report. Phoenix proved to be resilient even though it posted negative net absorption, a proxy for office demand, from last year's third quarter to this year's second quarter. Net absorption … [More]
Phoenix-Based Engineering Firm Purchases 20K SF Scottsdale Building for New Corporate Headquarters
Meade Engineering, a leading engineering firm providing a broad range of design and commissioning services, has purchased a building in north Scottsdale and will move the company headquarters once renovations are completed. The 20,000 square foot north Scottsdale building is located just west of State Route 101 on Princess Boulevard, at 17785 N. Pacesetter Way, and sits on … [More]
Homebuilder Acquires 42 Single-Family Homesites in Gilbert
Tri Pointe Homes, a recognized leader serving the Phoenix market for over 30 years under the name Maracay®, has announced the acquisition of 42 single-family homesites in Gilbert, Arizona. Purchased from Bela Flor Communities for $10.7 million, the homesites are situated at the southwest corner of San Tan Blvd. and 172nd Street. The community is slated to open for sales in the … [More]
Sun State Builders Breaks Ground in Surprise on 100,000 SF Industrial Project
Sun State Builders, a design-build general contractor, is breaking ground on a 114,495-square-foot industrial building for The Widewaters Group Inc. The $11 million ground-up build situated on a 7.3-acre site is located at 134th Avenue and Bell Road in Surprise. A groundbreaking ceremony was held Tuesday, November 12 and … [More]
Utah-Based Construction Group Moves Division Offices to Tempe
Utah-based Big-D Construction recently moved its Southwest and Heavy Industrial offices to Tempe’s 2100 Rio building, a brand-new commercial office building with the quality and attention to detail to match the associates set to work there. The shift to two 8,000 SF suites overlooking the valley is a perfect next step for the growth prospects of both Southwest and Heavy … [More]
Local Development Co. Acquires Full Ownership of Biltmore Fashion Park, Unveils Redevelopment Plans for Iconic Arizona Landmark
RED Development, an industry-leading commercial real estate company renowned for its high-performing mixed-use and retail portfolio, is unveiling its plans for the future of Biltmore Fashion Park, Arizona’s first luxury outdoor shopping and dining destination after acquiring full ownership of the iconic landmark this summer, featuring a new mixed-use development and design … [More]
Opportunity Zone Housing Markets Still Keeping Up with Broader Nationwide Pricing Gains
ATTOM, a leading curator of land, property data, and real estate analytics, released its third-quarter 2024 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017. In this report, ATTOM looked at 3,857 zones around the United States with sufficient data to analyze, meaning they had at least … [More]
