Arizona home builder Minimal Living Concepts was founded in 2021 with the goal of creating the world’s most seamless path to buying new construction online. Co-founders Zander Diamont and Jared Amzallag started with a line of backyard guest homes— also known as casitas or accessory dwelling units (ADUs), and now, after building over 100 guest homes, they are expanding their … [More]
Uptown Plaza Celebrates 70 Years of History, Community, and Evolution
Since its debut in 1955, Uptown Plaza has been a cornerstone of Phoenix’s growth and charm, forever changing how the Valley shopped, dined, and connected. Now, as this mid-century modern center celebrates its 70th anniversary, it stands not only as a beloved landmark but as a vibrant community hub bridging the past to the future. In the lead-up to its September milestone … [More]
Custom Homebuilder Expands Legacy of Luxury with New Estates in Paradise Valley
Patterson Homes continues to set the standard for elite residential construction, with two of its latest estates in Cameldale under contract in record time—one before completion and both within 20 days of coming available to the market. Now, Ryan Patterson embarks on his most prestigious project this year at the base of Mummy Mountain in Silver Sky, Paradise Valley’s most … [More]
Builders Break Ground on 508 Homesites at Village of Montecito in Estrella
Underscoring a resolute commitment to creating the West Valley's most vibrant and thriving community, Estrella Development Company and award-winning homebuilders Lennar and Richmond American Homes broke ground recently on 508 homesites at the village of Montecito at Estrella in Goodyear, Arizona. Jeff Zimmerman, Vice President of Development for Estrella Development Company, … [More]
Visit Phoenix Picks CityScape for New Office Headquarters
Visit Phoenix will move into 24,722 square feet at CityScape. The new lease maintains Visit Phoenix’s downtown presence, where it promotes the Greater Phoenix market as a destination for travelers and conventions. Visit Phoenix will relocate from 400 E. Van Buren St. At CityScape, it will continue to enjoy proximity to the Phoenix Convention Center, area hotels and resorts, … [More]
Valley Shopping Center Co. Closes Out 35th Year of Operations, Impacts Our Market with Great Growth
Vestar, a Phoenix-based, privately held shopping center owner and operator, achieved significant growth in 2024, with more than two million square feet of retail space under development and the addition of several new management assignments. As the company closed out its 35th year of operations, it remains focused on creating unique and timeless retail destinations. David … [More]
National Firm Acquires Phoenix Construction Services Co., Expanding Resources and Expertise in the Southwest
Atwell has continued to extend its reach by acquiring the operations of Terrascape Consulting, adding expertise in engineering and surveying to its resources in the Southwest. Terms of the transaction were not disclosed. Terrascape, founded in 2006, is based in Phoenix, Arizona. The company is deeply committed to client service and brings knowledge of the region's unique … [More]
Arizona’s Build-to-Rent Boom: 14,000 New Single-Family Rentals in the Pipeline
As urban areas become more crowded and homeownership slips further out of reach, the build-to-rent (BTR) market is stepping in to fill the gap. Nationwide, more than 110,000 single-family rentals are under construction, set to increase the BTR inventory by 53.5% once completed. Arizona stands out as a major player in this expansion. Arizona’s Build-to-Rent … [More]
Building Arizona: Critical Strengths and Challenges in Our Housing Market
Metro Phoenix is the No. 3 housing market in the United States, according to Greg Vogel, founder and CEO of Land Advisors Organization, who cites data from the U.S. Census Bureau showing single-family and multifamily permits totaled 45,000 for the 12 months through September 2024. Says Laura Ortiz, president of Evergreen Devco, “Demand, from a national perspective, continues … [More]
Construction Costs in Commercial Real Estate: A 2025 Outlook
Economic, material and labor market dynamics
Although construction costs are estimated to be relatively flat year over year, with a moderate increase of 5–7% projected, there are many variables that can affect this estimate so early in the year. Construction costs in the commercial real estate sector are driven by a combination of economic, material and labor market dynamics. Factors such as natural disasters, a changing … [More]
Nextwave Tempe Breaks Ground on Former Big Surf Site
Developer Overton Moore Properties and its partner, Invesco Real Estate, have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 square feet on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe at 1500 North McClintock Drive. The three divisible buildings can accommodate customers from … [More]
Phoenix Small-Office Product Lagging
Over the last four years, small-office product of 20,000–50,000 square feet has outperformed larger product greater than 50,000 square feet. But Cushman & Wakefield Research, using statistics based on leasable office buildings larger than 20,000 square feet in Metro Phoenix, reports this has changed. There are 393 buildings in the 20,000 to 50,000 sf size range, … [More]
February 2025 Guest Editor: Greg Vogel, Land Advisors Organization
Landing the Housing Debate
Housing is a perennial hot topic. Whether analyzed from an economic development standpoint or spotlighted as an aspect of social issues, it is always a sector that is recognized as impacting the broad community. The housing and residential real estate sector is a major contributor to Arizona’s economy, driving growth and development. Arizona consistently ranks among the top … [More]
Dominium Acquires Land for Affordable Homes in Maricopa
Dominium, a leading affordable housing owner, developer and manager, recently closed a deal to acquire land for the development of a new affordable housing community in Maricopa, Arizona. Dominium plans to use the land located at 18260 N. Alan Stephens Pkwy. to construct Saddleback Village at Stonegate, Dominium’s first Built-to-Rent community. Completed, it will bring 215 … [More]
418,000 SF Distribution Center in Surprise
Surprise Pointe Commerce Center, recently completed from Rockefeller Group, is a 418,400-square-foot distribution center on 24 acres in Surprise, Ariz., part of the Southwest Valley industrial submarket. Designed by Ware Malcomb, it can accommodate one to four tenants and includes custom-designed office space. The site has access to both Interstate 10 and Loop 303 and is … [More]
SRP’s New Construction Program Encourages Sustainability and Cost Savings
Booming development throughout Phoenix makes having a partnership that encourages sustainability and lowering costs a major advantage for construction companies. Knowing this, Salt River Project created the New Construction Solutions Program to ensure project teams have the support needed to complete energy-efficient, sustainable and cost-effective buildings. Ryan Companies … [More]
Esplanade Campus Completes $45 Million Renovation
Iconic property revitalized with 30,000 sf of new amenity space
The Esplanade office complex has completed a major renovation and upgrade of the prestigious four building campus in the Camelback Corridor located at 2425, 2525, 2575, and 2555 E. Camelback Rd. The $45 million renovation, added approximately 30,000 square feet of new amenity spaces, including a new conference center, tenant lounge, full-service restaurant, fitness center, … [More]
Premier Retail and Entertainment Destination in Scottsdale Acquired by Joint Venture
Acquisition of The Pavilions at Talking Stick, one of the premier retail and entertainment destinations in Scottsdale, by Pavilions SRPMIC De Rito JV, LLC, is complete. This strategic acquisition marks a significant milestone in the company's growth and commitment to enhancing the retail landscape in the region. Details of the deal were not disclosed. Located at the … [More]
