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]
Phoenix Among Top Targets for CRE Investment in 2025, Says Survey
A recent survey of commercial real estate investors ranked Phoenix as a top 10 target among U.S. metros. Phoenix slipped three spots to #10 in CBRE’s 2025 U.S. Investor Intentions Survey. Investors are strategically focusing on gateway markets offering discounts and high-growth Sun Belt markets. Phoenix is recognized by investors for its pro-business environment, strong … [More]
Peoria Mixed-Use ‘Lifestyle’ Center Brings Multiple Restaurants and Retailers
From New American to simple Italian and contemporary Japanese, The Trailhead in Peoria plans to please a plethora of palates. A bevy of restaurants and retailers have signed on to the 40-acre, mixed-use development at 83rd Avenue and Happy Valley Road. Among them is Sparrow, a new concept by Sky Restaurant Group. Sparrow reunites Chef Schuyler Estes and former partner Parker … [More]
