Circa Central Avenue is a new multifamily project, developed as urban infill just south of Phoenix Art Museum and adjacent to the Metro Valley light rail by Hunt Companies, Inc., Tilton Development Company and Ryan Companies US, Inc. The six-story project includes four levels of residential apartments over two levels of parking, as well as five two-story townhomes and two … [More]
Park West Renovation Gains Locally-based Businesses
Commercial Investment Real Estate Equity is putting $4 million into renovating Park West, an outdoor lifestyle shopping center that features more than 30 national and local retailers, restaurants and a 14-screen Harkins Theatre nestled in a boutique shopping environment. Cozy seating areas, shade structures and a splash pad offer a relaxing, family-friendly shopping experience … [More]
New Office Breaks Ground at Perimeter Center
Irgens – Phoenix has broken ground on its second building within the Irgens Perimeter Center project, 17 Three Hundred at Perimeter Center, with completion scheduled for October. The two-story office and healthcare building will contain approximately 47,322 square feet of space. “The Scottsdale Airpark submarket finished 2018 with a vacancy rate below 10 percent,” says … [More]
Mixed-Use Bringing Big Change to Downtown Phoenix
Much touted since its planned arrival was announced many months ago, the Fry’s store that will finally bring a grocery to serve all the residential housing in Downtown Phoenix is within sight on the calendar. On January 22, RED Development, Fry’s Food Stores and StreetLights Residential held a “topping off” ceremony to commemorate the completion of vertical construction on the … [More]
FENDI Private Residences to Make Arizona Debut
A boutique collection of 41 custom FENDI Private Residences will break ground later this year as this internationally recognized homebuilder opens its first ground-up residential enclave in North America at The Palmeraie, a master-planned community on the border of Scottsdale and Paradise Valley. FENDI Private Residences is an expression of FENDI as a complete lifestyle. … [More]
Car Condos Completed
LGE Design Build has completed construction on Toy Barn Scottsdale, a three-building, 27,000-square-foot, $7.5 million luxury garage concept just north of the Scottsdale Airport. Toy Barn specializes in sleek, privately-owned, expertly-designed vehicular “condos” — a storage solution for cars, boats, motorcycles, RVs and other valuable property in a climate-controlled … [More]
Autonomous Vehicles’ Real Estate Impact
CBRE recently released results of its research into potential effects of autonomous vehicles that predicts the technology will disrupt more than just transportation. By disrupting the way employees commute to work, autonomous vehicles are expected to fundamentally reshape the U.S. office market by 2030, across nearly all property types and sectors, from retail, industrial, … [More]
Estrella a Top-Selling Master-Planned Community
Estrella by Newland Communities was named as among the top-selling master-planned communities in the country, earning spots on annual lists recently released by John Burns Real Estate Consulting and RCLCO, a real estate advisory firm. Ranked 17 on both lists of the top 50 communities, the 617-acre development showed a significant rise from its previous No. 30 spot. Estrella … [More]
Roosevelt Row Historic Property Renovation
Renovations were recently completed on the “Hardware Store,” on North 1st Avenue in Phoenix. The restoration by Point B leverages the historical nature and character of the existing buildings, and includes updated interior and common areas and creative office space in proximity to Downtown and the Roosevelt Row neighborhood. To ensure the exterior reflects the … [More]
West Valley Industrial Spec
Lincoln Property Company’s recently completed Lincoln Logistics 40, an $85 million project spanning more than 20 acres of Class A industrial space under one roof, is Phoenix’s first-ever 40-foot clear height, fully speculative industrial development, featuring dock and grade-level doors, trailer storage stalls, fiber optic data, and energy-efficient clerestory windows in lieu … [More]
Luxury Wing Debut at Scottsdale Fashion Square
Scottsdale Fashion Square is showing how to make a grand entrance. What was an unobtrusive side of the mall partially hidden behind the old Camelview Theatres has been renovated as a wide courtyard fronted by — a staple amenity for a luxury destination — a valet stand, and leading to a striking, two-story glass entry to the mall’s new luxury wing. A ribbon-cutting was … [More]
Scottsdale Fashion Square’s Past and Future
Scottsdale Fashion Square has evolved incrementally as the retail industry — and the market — have changed since the property’s earliest days in the 1960s when it was a small, open-air center anchored by Goldwater’s department store. Highlights of many key changes over the years include building a two-story retail bridge to connect two separate retail properties into one that … [More]
Downtown Grows ‘Up’
Downtown Phoenix may not be the densest of metros, but a construction boom is making prime land for development scarce. When developers can no longer build out, they go up. More than a dozen mid- and high-rise buildings are slated for the gaps in the Downtown Phoenix skyline over the next few years. A few mid- and high-rise projects under construction, breaking ground or in … [More]
Construction Hot on Arizona State University Property
Novus Innovation Corridor is a 350-acre, multi-phased development in Tempe that, at completion, will encompass nearly 10 million square feet of urban mixed-use opportunities, including State Farm’s 2.1-million-square-foot Marina Heights regional hub. Strategically integrated with the ASU campus and downtown Tempe on Tempe Town Lake, the Novus Innovation Corridor is a … [More]
Ambitious Redevelopment at Park Central Mall
Peoria-based Plaza Companies and Tucson-based Holualoa Companies are teaming up to redevelop Park Central Mall, transitioning the project to a bustling community hub ideal for playing, working, congregating and celebrating the arts. The first 337,000 square feet of redeveloped office and retail space will be done in January 2019. The recent purchase of an additional 21 acres of … [More]
Upscale Hotel on Roosevelt Row
The Cambria hotel in Downtown Phoenix – Roosevelt Row Arts District has started construction and is set to open in late 2019. A collaboration between True North Studio, LLC, a Phoenix-based commercial real estate development company located in Phoenix, and Choice Hotels International, Inc., the seven-story, 127-room upscale hotel will feature a rooftop pool with cabanas and … [More]
Phoenix Sets Strong Pace in Data Center Market
According to the new U.S. Data Center Trends Report released by CBRE this past September, tight supply in major U.S. data center markets, including Silicon Valley, has led occupiers to expand into Phoenix. We now have record levels of data center construction underway — 61.4 megawatts (MW) currently under construction, with more than 120 MW announced for future buildout. … [More]
Chandler Corporate Center Completed
VanTrust Real Estate’s recently completed Chandler Corporate Center is a 117,000-square-foot office that can support more than 700 jobs. Located at 350 N. McClintock Drive, the building is adjacent to Chandler Fashion Square, and is easily accessible from the Loop 202 South Mountain Freeway and the Loop 101 Agua Fria Freeway. Developed by VanTrust on 11-acres, the Class A … [More]
