While a COVID-stricken economy has halted many large metro Phoenix leases, mid-size deals continue to make a significant impact at experiential projects like CASA, George Oliver’s Class A creative office redevelopment in Phoenix’s popular Uptown neighborhood at 7878 N. 16th Street. The Phoenix-based commercial real estate company purchased the building, previously known as … [More]
DPMG Plans 87,000SF Development in Chandler
DPMG Galveston LLC, a private Phoenix-based company, plans to construct an 87,000-square-foot mixed-use industrial project on 6.5 acres in Chandler it recently purchased for $2,050,000 at the southwest corner of Galveston Street and McClintock Drive. Completion of Chandler Corporate Industrial Center II is expected for mid to late 2021. The contemporary design of the project … [More]
Walton Closes on Buckeye Master Plans
Walton, a real estate investment and land asset company with US$3.8 billion under management and administration, has sold 290 acres in the Mystic Vista and Vista Bonita masterplans located in Buckeye, Ariz., the country’s 7th fastest growing city. MPC Developments, LLC has purchased 145 acres in the Mystic Vista community, zoned fully residential for 564 single family … [More]
Commercial Real Estate in the Time of COVID-19
Real estate has always been a major part of our economy. And, as a lagging indicator whose thread weaves through businesses of every type, size and sector, it is also the perfect instrument with which to take the pulse of our economic health. Looking at how the pandemic is affecting the market, Jonathan Keyser of Keyser LLC says, “There’s a lot of impact that’s happening,” … [More]
Guest Editor Adrienne Bryant, Bryant Commercial Real Estate
Real estate is a common thread in the story of business during, through and after the COVID-19 pandemic’s disruption. How are the various segments of our economy faring? A look at the real estate markets throughout Greater Phoenix gives a general snapshot to answer that. As a small, family-owned commercial real estate business, we understand the challenges that business … [More]
Car-Free Lifestyle for Culdesac Tempe Tenants
Planned to open in 2021, Culdesac is a $140-million project with 636 residential units, 24,000 square feet of retail and 35,000 square feet of amenities on 16 acres. Residents will not have private cars or parking spaces although the retail area will have ample parking with 150 spaces for retail visitors and resident guests. In typical developments, the parking lots often … [More]
Building Management Post-Pandemic
The real estate sector’s efforts to mitigate the threat of the contagion by securing buildings have already put it at the forefront of the global response. However, the industry’s most important contribution will be in helping to create an operational framework, within which some semblance of normalcy can be restored. Technology Will Be a Critical Enabler Innovative … [More]
How Multifamily Urban Living Will Thrive Post-Pandemic
It is not lost upon us multifamily developers, owners and operators that fear, as it relates to a person’s living accommodations, is a very real concern in the age of COVID-19. In fact, we are already diligently working to further flesh out new building and design standards for urban communities, especially as it pertains to high-density vertical communities. Innovations … [More]
Q1 Office Market Strong
The Greater Phoenix office market posted a healthy first quarter, being the 32nd consecutive quarter with positive net absorption, according to the Q1 report from Colliers International, a leading real estate professional services and investment management company. More than 100,000 square feet of positive net absorption took place in the first three months of 2020 and the … [More]
Q1 Multifamily Shows Initial Effects of COVID-19
The Q1 2020 Phoenix Multifamily Quarterly Report from ABI Multifamily shows that, while the start of 2020 was strong — with rent growth, healthy occupancy rates, lower cost of living and high renter demand all pointing to another extraordinary year — the future has yet to tell how the multifamily industry will be impacted by the COVID-19 global pandemic. With a development … [More]
Waterfall Villa Residences in Chandler
Models are open at Chandler’s newest lock-and-leave condominium community, Waterfall Villa Residences, by Ironwood Development Group. The private, gated, resort-style community featuring open and modern single-level villas is attracting buyers from all demographic groups. Villa layouts are designed with the flexibility of two- and three-bedroom floorplans ranging from … [More]
Luxury Apartments Planned for North Phoenix
Hines, the international real estate firm, along with a joint venture partner, recently acquired 11 acres in north Phoenix, where it plans to develop a 325-unit, luxury, for-rent residential property. Hines’ multifamily property, located at the northwest corner of Happy Valley Road and 35th Avenue, will consist of six, three-story buildings. An additional one-story building … [More]
Short-Term Rentals: Key to Phoenix Rental Crisis?
The rental housing industry has been hit hard like any other industry during the COVID-19 pandemic. Phoenix homeowners utilizing Airbnb and VBRO are experiencing a wave of cancellations due to stay-at-home orders, creating a significant loss of revenue during the busiest tourism months of the year. While vacation-home renters may be feeling the crunch, there is an alternative … [More]
Senderos at South Mountain: Apartment Community with Upscale Amenities
Now open for tours and expecting to be move-in ready within weeks as we go to press, the gated community of Senderos at South Mountain features a number of unique amenities. Senderos is one of the first apartment communities in Metro Phoenix to offer personal electric car-charging stations in the apartment’s attached garages. The developers took into consideration future needs … [More]
TruGold: Hybrid Rental Product Planned for Loop 303 Corridor
On a 22.99-acre site in Surprise, Ariz., that it purchased for $3.65 million, NPC Trugold LLC plans to develop a hybrid product, which is single-family residences used as rentals. The sale of this parcel located at Cotton Lane and Sweetwater Avenue is significant as it is one of the first multi-family acquisitions on the west side of the Loop 303 in the emerging Loop 303 … [More]
Self-Guided Home Tours at Avilla
NexMetro Communities, a pioneer of single-level luxury leased-home neighborhoods, has launched an innovative self-guided touring option. Potential renters will now be able to visit Avilla models on their own time and without the need for in-person appointments with rental agents. In partnership with Rently, a self-touring application, people looking for a new home within an … [More]
Warehouse/Distribution Space Expected to Be Hot
The Greater Phoenix Industrial market could be poised for a surge in demand for warehouse/distribution space, according to the Q1 Industrial Market Report by Colliers International in Arizona. The “stay at home” orders resulting from the Coronavirus Pandemic have forced more people to shop online and those lasting habits will increase online retailer demand for distribution … [More]
