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]
Whispering Rock Open in Gilbert
Leading national builder and developer Taylor Morrison recently opened Whispering Rock in Gilbert. The new community will offer three of the builder’s most sought-after floor plans, priced from the low $500,000s. The one-story floor plans will offer between approximately 2,911 to 3,509 square feet of living space and up to six bedrooms, four baths and three-car … [More]
Iconic Downtown Building Reenergized
ViaWest Group has kicked off major renovations at 200 EVB, a 10-story office building purchased late last year — along with a semi-adjacent parking garage — located at 200 E. Van Buren that formerly housed the Arizona Republic offices. Among the upgrades will be a complete first-floor overhaul with new a lobby, restrooms and conference area; a second-floor collaborative … [More]
Avondale’s Alamar Aligns With City Goals
Homebuilders Shea, Landsea Homes, Gehan Homes and Taylor Morrison are among the first that developer Brookfield Residential (Arizona) plans to partner with for Phase I of Alamar, which includes 461 homesites developed within six distinct neighborhoods, slated to open in second half of 2020. Brookfield has been working closely with the City of Avondale to align the … [More]
Co-working Is Disrupting Office Spaces
Working from non-traditional spaces was once the realm of artists, writers and road warriors. People joked about those with computers taking up seats at coffee shops, cafes and restaurants, not seeing the larger trend coming into play. Today, it’s becoming a much different story. It is forecasted that by the year 2020, up to half the U.S. workforce could be freelancers in … [More]
SkySong Momentum Builds to Phase 6
Office leasing momentum remains strong at SkySong, a 42- acre mixed-use development. SkySong 5 recently opened, as well as the new Element Hotel at SkySong, and preleasing has begun for SkySong 6, which is expected to start construction in the spring. Project architects Butler Design Group created cutting-edge design concepts and renderings for the new building, which will have … [More]
Downtown Phoenix Multifamily High- Rise with Retail
Phoenix’s nation-leading job growth and related rapidly growing demand for residential and commercial real estate space attracted the attention of Rastegar Property Company, a vertically integrated real estate investment firm focused on value-add and development in all asset classes across the United States. The Austin, Texas-based company acquired a high-rise lot in downtown … [More]
Commercial-Scale Solar Lending for SMBs
Direct Solar recently launched a commercial solar lending solution, filling what the company sees as a massive market void. The solution will serve customers that own and/or manage commercial properties. Direct Solar, a subsidiary of SinglePoint Inc., is one of the first companies to offer this type of lending solution. “This is a massive opportunity to fill a huge gap in … [More]
Great Wolf Lodge to Open Early
Great Wolf Lodge Arizona, at the eastern edge of Scottsdale, will be opening earlier than originally anticipated, with September 18, 2019, now slated as its opening day. Focus will be on the 350-room resort’s waterpark, with attractions that include a first-of-its-kind four-person, high-thrill raft ride called Diamondback Drop. Beyond the water park, Great Wolf Lodge Arizona … [More]
The Luxe Phase II Launched in Desert Ridge
In The Luxe, a $145 million luxury condominium community located within the Desert Ridge neighborhood, family-owned The Statesman Group offers residents a significant resortstyle amenity designed for seamless indoor and outdoor living plus access to a range of on-site services. The second phase — 35 condos priced from the high $600,000s — recently came on line offering … [More]
Don’t Sign that Lease without Verified Ventilation Performance Defined
Did you know you breathe more than 11,000 liters of air a day? If you’re reading this, you will probably spend around 2,000 hours per year breathing the air in the office for which you are about to sign that lease. This year alone, you will bring into your lungs more than 900,000 liters of whatever is in the air of that cool new office space. Would you drink 900,000 liters of … [More]
Appetite for Industrial
One of the largest industrial developers in Southern California, CapRock Partners, has become an active player in Phoenix’s real estate market. “We see a lot of corporations and jobs leaving California for Arizona (among a few other states) and we think that’s going to continue,” says Bob O’Neill, senior vice president of acquisitions. Lower cost is one factor. Another big one … [More]
Phoenix Moves Up in Industrial Growth
The industrial sector of Phoenix’s commercial real estate market is in strong growth mode, according to the 2019 U.S. Industrial Pipeline Report, recently released by nationwide commercial real estate listings platform COMMERCIALCafé, part of Yardi Systems. Phoenix is the sixth most attractive market for industrial development this year, with 34 projects totaling 6.5 million … [More]
The Housing Market: A window into our economy!
Taking housing as a barometer of the economy, Metro Phoenix is looking pretty good. Multifamily developments, especially, seem to be sprouting on every block, and one of the biggest complaints heard in development circles is there is a shortage of construction workers — a situation exacerbated by the fact that the construction sector has shown the greatest growth rate (12.7 … [More]
Phoenix Rising: Driving Forces Behind One of America’s Fastest Growing Cities
According to the U.S. Census Bureau in 2017, Phoenix edged Philadelphia out to become the fifth biggest city in the United States, with an estimated population of over 1.61 million, and is forecasted to rank at least fourth by 2020. It’s worth looking at how a flourishing flexible office market supports widespread growth. Bill Gates to Invest in the Nation’s Next Smart City in … [More]
Taylor Morrison Expands in Southeast Valley
Taylor Morrison, a leading national builder and developer, is expanding in the Southeast Valley with the grand opening of Bellaza II in Chandler. The intimate community of Bellaza II will offer 38 home sites and a selection of three large, single-story floor plans ranging in size from approximately 2,911 to 3,509 square feet with up to 5 bedrooms, 3.5 baths and 3-car … [More]
Arizona Center Transforms into Urban-Contemporary Center
Arizona Center, Phoenix’s original downtown entertainment destination, located at Third Street and Van Buren, recently completed construction on its $25 million makeover, which includes new creative office space, outdoor work stations, shopping, entertainment and casual dining. Complementing the new modern aesthetics is a new logo, website and brand identity. Among the … [More]
