Our new research among landlords, property managers, agents and suppliers reveals that investment in smart building technologies is finally moving up the agenda. There is increasing recognition of their ability to create efficiencies in commercial real estate, bringing costs down, increasing tenant satisfaction, improving space management and ensuring strong energy … [More]
Spotlight Shifts from Mega to Smaller Warehouses
The growth of e-commerce has lifted the entire industrial and logistics real estate sector, with warehouses smaller than 120,000 square feet occupying the sweet spot. These “light industrial” properties outperformed other property types over the past five years, according to CBRE’s analysis, by size, of industrial buildings nationwide. Specifically, light industrial warehouses … [More]
First-of-its-Kind U.S./Mexico Inland Port and Customs Processing Hub
SkyBridge Arizona and leading general contractor Graycor Construction Company have broken ground on the first two buildings at SkyBridge Arizona. The major master-planned development will serve as the nation’s first-ever joint U.S. and Mexico inland port and customs processing hub. SkyBridge has selected Graycor for the design-build of the first two buildings. Located on 360 … [More]
Novus Innovation Corridor Gaining Six-Story Class A Office
The L-shaped office building — 777 Tower at Novus — is under construction by Ryan Companies US, Inc. The 160,000-square-foot, multi-tenant structure, designed by local architect DAVIS, will feature an open floor plan with penthouse office space and about 8,000 square feet of retail space on the first floor. There also are plans to create a plaza area for event usage. Located … [More]
Taylor Morrison in New Gilbert Community
Leading national builder and developer Taylor Morrison is opening its Greenfield Ranch community in Gilbert. It will offer four floor plans from its Summit Collection, with single-story homes ranging in size from 2,764 to 3,396 square feet, and, from its Capstone Collection, three floor plans that range in size from 3,534 to 4,333 square feet. Greenfield Ranch is located … [More]
ViaWest Developing Industrial in Goodyear
ViaWest Group has closed on the acquisition of a 25.91-acre parcel at Elwood St. and Sarival Ave. in Goodyear, which will be developed into three industrial buildings totaling approximately 410,000 square feet. Construction is set to begin in March 2020 with a delivery in early 2021. “The rapidly expanding Goodyear industrial market is a strategic location for a long-term … [More]
New Mark Kia Largest Image Facility in Arizona
Western States General Contracting is nearing completion on the new, stateof- the-art, $13-million Mark Kia on 8.9 acres at the Scottsdale AutoShow at Salt River development. This is the third car dealership in the Scottsdale-based contractor’s automotive project portfolio and is expected to be completed this month. Slated to be the largest image facility in Arizona and the … [More]
Opportunity Zones: Maximizing Potential while Protecting against Risk
Opportunity Zones and Opportunity Funds create much excitement as powerful new economic development tools for many businesses and investors as well as communities looking to develop (or redevelop) areas that could become economic drivers. They were created specifically to spur economic development through the benefit of capital gain deferment to incentivize an injection of … [More]
Drafting an Entitlement Team
Assembling one’s entitlement team is a lot like drafting an NFL prospect. Given the significant investment and risk of acquiring and entitling property, smart developers should assemble a team of pros that balance a roster and position a project for success. The best property owners and developers prioritize the value of strategic teammates. That includes zoning counsel, … [More]
Favorable Activity in Office Pipeline
The Phoenix office market has already absorbed more than 3.07 million square feet of office space in 2019. According to the Q3 Office Insight report just released by the Phoenix office of JLL, that is a three-quarter absorption rate record for the Valley, topping the last high-water mark of 2.9 million square feet of space absorbed during the first three quarters of … [More]
Infill Parking Field to Site Pad Development
Evergreen Devco, Inc., a leading retail and multifamily development company, has begun construction on a pair of single-tenant retail buildings that will house a Black Rock Coffee Bar and a Wilhelm Automotive on the southeast corner of 35th Avenue and Greenway Road in Phoenix. The two buildings are part of Evergreen’s pad development project of an existing shopping center. … [More]
Cavasson Attracts Major Tech Tenant
Cavasson, Nationwide Realty Investors’ 134-acre premiere mixed-used project now under development at Loop 101 and Hayden Road in Scottsdale, will include tree-lined sidewalks, bike paths and green spaces, with ample parking in an adjacent six-story parking structure. Hospitality franchisor Choice Hotels International, Inc., one of the world’s largest hotel franchisors, will … [More]
LEED Cert for ASU’s Bio C
The $120-million Biodesign Institute C research building at Arizona State University, which was constructed by McCarthy Building Companies and completed in June 2018, recently received LEED Platinum certification from the U.S. Green Building Council. Following ASU’s green building standards, Biodesign Institute C was designed and constructed to the highest levels of … [More]
New North Scottsdale Office Lofts
A brand-new loft-style office project is coming to North Scottsdale, courtesy of Phoenix-based commercial real estate investment and operating company George Oliver and Vancouver-based Kootenay Holdings. Lofts at The District will target small to mid-sized tenants with high-end, innovative office space reflective of the creativity found in other George Oliver … [More]
Epicenter at Agritopia® Is Underway
Groundbreaking is imminent at Epicenter, the high-end, vertical mixed-use community and retail destination in the heart of Agritopia®, a village that includes an 11.3-acre organic farm. The multi-family project, which is currently pre-leasing its available retail space, will feature elevated apartment living situated above thoughtfully selected restaurants and retail focused on … [More]
Buyer Beware of Manipulative Landlords
The commercial real estate industry is in one of the hottest markets we have seen in years, with the state average GDP growth of 3.4 percent in 2018 and a 3.2-percent increase forecast for the rest of 2019. Vacancy rates for industrial and office spaces are dropping as employment gains drive up the demand. Healthy office vacancies for both landlord and tenant hover around … [More]
Tariff-Friendly Industrial Project in Goodyear
New York-based Foundation Capital Partners and Chicago-based Baker Development Corporation have broken ground on a two-building, Class A industrial project called VB/143. Located in the heart of Goodyear, Arizona, the project sits within a foreign trade zone magnet site, allowing for reduced real and personal property taxes and reduced or eliminated duty, tariff and U.S. … [More]
Union Aims for Market-Leading Companies
Union, a Class A office project at the junction of Mesa, Tempe and Scottsdale, is set to break ground on Phase One this month. But the Lincoln Property Company project signed its first tenant three months ago when WageWorks Inc. committed to a 150,000-square-foot lease. Union’s first Class A office building will total 232,000 square feet with an adjacent 1,120-space, … [More]
