An army of red shirts, slogan pin buttons, protest signs and opposition websites. These efforts describe the recent increase in opposition to infill redevelopment, rezoning and community planning. Neighborhood outreach and citizen involvement is a bedrock principle in the development process. By ordinance, local jurisdictions require developers to notify and meet with … [More]
Value-Add Opp in Mesa
MIG Real Estate, a Newport Beach-based real estate investment company, acquired Trails at Harris Apartments, a 209-unit multifamily property in Mesa. The property aligns with MIG’s philosophy, which is centered on improving the quality and performance of its properties to achieve optimum value. Trails at Harris Apartments will undergo significant enhancements as MIG Real Estate … [More]
Groundbreaking at Papago Park Center
With demand for Tempe office space at an all-time high, Lincoln Property Company has broken ground on the second Class A office building at The Grand at Papago Park Center. Totaling 352,000 square feet, The Grand Building Two is one of Arizona’s largest-ever office buildings to break ground as a purely speculative endeavor. It is scheduled for completion in second quarter 2019, … [More]
Medical Users Find Space in Gilbert
Kentucky-based Springstone, a leading provider of behavioral health services throughout the U.S., will develop its second Arizona behavioral health facility on 6.59 acres it recently purchased in Gilbert, near the Mercy Gilbert Medical Center. “We have experienced a high volume of activity around the area for medical users looking for space,” says Philip Wurth, executive V.P. … [More]
2018 Self-Storage Investment Forecast
Nationally, the self-storage industry is entering a period of maturity as supply-side pressure begins to impact fundamentals. Underlying demand for storage space remains strong; however, aggressive development activity over the past two years is starting to overtake absorption. Moving forward, nationwide vacancy and rent growth may soften amid greater competition, particularly … [More]
White Horse Accents the Outdoors
Camelot Homes, a third-generation homebuilder in Scottsdale, has opened three models for White Horse, an iconic new, gated community of 50 half-acre lots representing the pinnacle of Camelot’s 45-plus years of experience in luxury homes. The light, bright and modern homes reflect a true paradigm shift in new home design with more outdoor space, options and flexibility to raise … [More]
Downtown Tempe Gains Lifestyle Hotel
The Westin Tempe, being developed by Las Vegas-based CAI Investments, has broken ground in the heart of Downtown Tempe. Eighteen stories, with 290 rooms, the multi-million-dollar hotel is planned to feature state-of-the-art guest rooms and corridors, with custom-designed elements and artwork, as well as energy conservation practices. Its more than 14,000 square feet of … [More]
Major National Tenant Space for SW Phoenix
With demand for premier, modern industrial space continuing to rise, the Southwest division of Graycor Construction Company has completed 710,000 square feet of shell and tenant improvement space for Prologis Inc., a global leader in logistics real estate. The new space, located within Prologis Riverside Distribution Center and Prologis Park Riverside, paves the way for three … [More]
Phoenix a Top Industrial Market
In the “Top 10 Emerging U.S. Industrial Markets Report” released last month, Colliers International features metropolitan Phoenix as a market to watch in 2018. Noting a robust tenant demand fueling new development, Bob Mulhern, senior managing director for Greater Phoenix, says, “With vacancy at a 10-year low, spec and build-to-suit projects continue to work their way through … [More]
Spec Tech Taken
Mobile food-ordering company GrubHub, Inc. has leased a 29,526-square-foot spec suite within ViaWest Group’s San Tan Tech Center in Chandler. “Our team had a ton of fun designing and building this cool-creative office space and we’re excited to see it being utilized by such a fitting tech-centric tenant,” says Danny Swancey, a partner at ViaWest. GrubHub adds a new office to … [More]
Multi-Tenant ‘High Rise’
Construction is moving quickly at the new Offices at Chandler Viridian, located at the intersection of Loop 101 and Loop 202 near the Chandler Fashion Center. The six-story, 250,000-square-foot project will be one of Chandler’s tallest and premier multi-tenant office buildings. Substantial completion is expected in Q4 2018, with the first tenants expected to move in by … [More]
AZ’s First All-Vegan Grocery
The first all-vegan grocery store in Arizona is among recent retail deals closed by Bryant Commercial Real Estate, a woman/minority-owned company. “This is the beginning of a changing retail landscape,” says Vinny Summo, who negotiated the lease on the 1,400-square-foot storefront for Veggie Rebellion owners Sandy and Dylan McKee. “The vegan food industry grew by $3.1 billion … [More]
Tempe Is Hot Property for Office Submarket
According to the Q4 2017 Phoenix Office Market report from JLL, a leading professional services firm that specializes in real estate and investment management, Tempe has enjoyed more than 27 percent of all office absorption since the start of Phoenix’s four-year positive absorption streak, in which the Valley has recorded annual absorption gains totaling 2.0 million square feet … [More]
Garden Condos in Biltmore
CONTOUR on Campbell is a new condominium project in the heart of The Biltmore. Its first-floor Garden Collection homes feature an expansive private patio of approximately 600 square feet — a very unique feature for new-build condos in Phoenix — that can be designed as an urban garden, an outdoor kitchen and dining area and/or to offer plenty of seating around a fire pit or … [More]
Deer Valley Industrial Spec
Dallas-based Jackson-Shaw and Las Vegas-based LaPour Partners Inc. have completed construction of Parc Pinnacle, an A-1-zoned, 311,840-square-foot, three-building speculative industrial development in Deer Valley. Each building features modern, flexible industrial space designed for manufacturing, distribution, assembly and related industrial uses. Situated on 20 acres at … [More]
West Side Luxury Home Development
Maracay Homes, a wholly owned company of the TRI Pointe Group, closed on 94 premium homesites in Peoria for a total purchase price of $7.56 million. The 80-acre land parcel, located at 77th Avenue and Pinnacle Peak Road, will be developed into a new, single-family-home neighborhood featuring all single-story homes, ranging from approximately 2,990 to 4,389 square feet. Homes … [More]
Rethinking the Office Space: Trends to Adopt in 2018
As technology continues to shape the world around us, people in today’s workforce have become more mobile and less tethered to their desks than ever before. Files can be accessed virtually anywhere thanks to cloud storage while cubicles have given way to smart workstations that allow employees to choose how they work. Technological enhancements are continually changing how … [More]
CBRE’s ‘Workplace360’ Initiative
CBRE’s recently opened state-of-the-art office at The Esplanade in Phoenix is part of the company’s global “Workplace360” initiative, and, at 75,000 square feet, is its largest. Guests, clients and employees enter the space in what’s known as The Heart, where they will be greeted by concierge staff. The high-tech common area features both a media wall and an immersive, … [More]
