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]
Repurposed for Healthcare Tenants
Cornerstone Medical Center, with approximately 20,235 rentable square feet, is being repurposed for a medical use from a retail use. Exterior renovations include “reskinning” the building and a new window package. The former Maytag store sat empty for 18 months before local, family-owned Whiteboard Development purchased and partnered with the City of Goodyear to reconfigure it … [More]
New Construction in San Tan Valley
Lifestyle, location, access to services and homes that are quickly gaining value are all among the contributing factors behind the success of Fulton Homes’ Promenade neighborhood, along with sweeping views of the San Tan Mountains, resort-inspired amenities, walking trails, parks and quick move-in options. “Homebuyers were signing contracts before the models ever opened at … [More]
Apartment Development Planned for NW Valley
Houston-based Hines plans to develop a 325-unit luxury multi-family community that will total 318,000 square feet on approximately 11 acres near the northwest corner of Happy Valley Road and 35th Avenue. The parcel was purchased for $6,725,000 from locally based shopping center development company The Pederson Group, which acquired the full 23-acre site from the Arizona State … [More]
Phoenix Development Co. Opens Sedona Multi-Family Residential Housing Community
A much-needed multi-family residential housing community is coming to Sedona, Arizona, with the opening of Piñon Lofts Apartments. Piñon Lofts will offer 45 new Energy Star certified apartment homes in four different floor plans consisting of one- and two-bedroom apartments. Keith Holben, President of Phoenix-based MK Company Inc., owner of Piñon Lofts, had the environment … [More]
Get Real – April / May 2020
Landsea Launches High-Performance Homes Landsea Homes has launched its “Live in Your Element with High Performance Homes Program” in select communities across Arizona and California. The new program features the three core pillars of home automation, sustainability and energy savings, which gives homebuyers connected living at their fingertips, providing ease, security and … [More]
Phoenix’s Industrial Pipeline
According to the 2020 Industrial Pipeline study recently released by COMMERCIALCafé, a nationwide commercial real estate listings platform, Phoenix is the seventh-most attractive market for industrial development in 2020, with 45 projects totaling roughly 8.3 million square feet expected to come online this year. Last year, industrial property construction added 144 million … [More]
What Difference Design
Arizona Integrative Medicine & Spa was a full tenant improvement from a shell space for its tenant, Jyoti Patel, M.D. The 3,100-square-foot office at 11648 E. Shea Blvd. in Scottsdale includes exam rooms, a classroom, teaching kitchen, IV therapy room and medspa. There is a sliding door from the lobby into the classroom. It can extend the room for learning events as well as … [More]
Fulton Homes Expands, Returns to West Valley
Fulton Homes, Arizona’s fastest-growing, family-owned homebuilder, has opened model homes in its first return to the West Valley in several years with its Estrella Commons community. Located in Goodyear, Ariz., off Interstate 10 between North Bullard Avenue and North Estrella Parkway, Estrella Commons will offer 429 single-family homes with 23 new floorplans and seven common … [More]
Largest-ever Phoenix Industrial Spec Building
Phoenix-based Tratt Properties LLC has broken ground on a 1.3-million-square-foot, Class A industrial development, with completion expected in December. Called Elwood Logistics Center, it is the largest speculative industrial building ever to break ground in the Valley. Elwood Logistics Center is accessed from the I-10/Cotton Lane interchange and sits within both a pending … [More]
New Regs Underline QOZ Investment Opportunities
The Department of the Treasury published Final Regulations for the Qualified Opportunity Zone (QOZ) program on January 13, 2020. While the new Final Regs do not answer all the questions that were raised by the Proposed Regulations released in October 2018 and April 2019, they do provide much that will be welcomed by taxpayers who have made, or are looking to make, QOZ … [More]
Phoenix Needs More Early Education and Care Options
In this fastest-growing city in the United States, developers have been bullish in Phoenix’s residential and commercial real estate markets. But this boom begs the question: In a sea of oversaturation, how do they attract residents and customers to their properties? The answer lies in a new concept: Live-Work-Play-Learn. Last year, the federal government cut millions of … [More]
Adaptive Reuse: New Life for Phoenix
It’s been said that “beauty is in the eye of the beholder.” The views of a vacant, neglected office building may not conjure up beautiful thoughts, but a close look may show this rundown building to be the perfect place to live. That vision is what allows us to breathe new life into an aging office building through adaptive reuse development, transforming it into a unique … [More]
