Six hundred thousand square feet of new office space is just the beginning for the Tempe project that will have its official groundbreaking this month at Rio Salado Parkway and Priest Road. At completion, Liberty Center at Rio Salado, being developed by Liberty Property Trust, will offer more than 1 million square feet of office, flex and light industrial space on the 100-acre … [More]
Commercial Real Estate as Investment
Across the country, commercial real estate companies are finding that managing a portfolio is a particularly challenging task in today’s economy. The following best practices demonstrate that effective portfolio management starts with the development of a thorough review process that allows a business to respond to opportunities in the market. Frequent Reviews Are … [More]
Update: Recovery in the Phoenix-Area Real Estate Sector
Phoenix-area home prices shot up since hitting a low point in September 2011. From last August to this August, the median single-family-home price rose 28 percent — from $150,000 to $192,000. The median townhouse/condo price rose 31 percent. This dramatic rise is largely due to the relatively small supply of homes for sale. Now, an increase in homes on the market is helping … [More]
Demographics Drive Housing Market
Lifestyle-inspired design change is the approach Maracay Homes is taking to make its new homes stand out in the re-emerging housing market. Among the features in its Arizona Collection are an “owner’s entry” from the garage, with cubbies for personal items and a technology station for docking electronic devices, that displaces the laundry room to a new location behind the … [More]
Phoenix Rising: Is Our Housing Market Heating Up?
Metro Phoenix appears to be slowly and steadily emerging from the ashes of the real estate collapse of five years ago, but is the city headed toward a re-bubbling of the market and repetition of all the sordid problems of that historical time? While some critics believe history is destined to repeat itself, key players in the metropolitan Phoenix real estate industry believe … [More]
Taking the Pulse of the Housing Market
Along with dropping foreclosures and waning interest from investors looking at Maricopa and Pinal counties, as of February, Phoenix-area home prices have risen sharply since hitting a low point in September 2011, according to the latest housing report from ASU’s W. P. Carey School of Business. The median single-family home price went up 4.3 percent from January to … [More]
Multi-Family Gains Benefit Chandler
The new development that broke ground in March at Alma School and Pecos roads represents a planning change by the City of Chandler’s economic development department. Because the city was already considering whether to change the zoning on some properties — and what to change to — as a result of the recently completed “4-Corner Retail Study,” Chandler was open to developer … [More]
Hot Growth in Flexible Office Space Solutions
In a commercial office market still posting high vacancy rates, executive offices leader Regus recently opened its 15th full-service business center in the Greater Phoenix area at Frank Lloyd Wright Blvd. and Scottsdale Road. This is up from eight centers last year, and on the way to 20 by the end of 2013. Demand is coming from Fortune 500 companies down to start-ups, according … [More]
Scottsdale Corner Joins Urban Redevelopment Trend
Part of a trend nationwide, a project currently under construction at Scottsdale Road and Lincoln Drive in Scottsdale is set to bring the economic stimulus of 264 luxury apartments to a developed urban area where amenities and infrastructure are already in place. The anticipated advantage to the city is retail activity — such as shopping and dining out — that will benefit local … [More]
Commercial Real Estate: Building Ourselves Back?
The commercial real estate market was ravaged by the down economy, although it didn’t make disaster headlines like its residential counterpart. There was a day when the metropolitan Phoenix area was tops when it came to building companies expanding and actual construction of commercial projects here in the Valley. Office space, multi-tenant and industrial projects were at … [More]
Architecture: Design Plan Build for the Future
Cautious optimism is the mood today at Greater Phoenix’s leading architecture and design firms. Hard hit by the economic downturn and fallout in formerly readily available financing for commercial projects, firms have found varying ways to come to terms with the economy. Tightening staff numbers, focusing on new kinds of projects and teaming with other architectural businesses … [More]
Diverse Quarters Indicate Signs of Life for Housing Market
The foreclosure rate in the Phoenix-area housing market is dropping, with none of the shadow inventory (from anticipated foreclosures) in the wings, according to the latest report from Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business. Investors are still driving the market, as the ordinary homebuyer who needs to secure … [More]
