Negotiating a Commercial Lease?

by J. Phillip Glasscock

A company’s business premises lease may represent its highest monthly expense. It also represents one of the most important commitments a business owner can make . A lack of careful consideration can result in serious financial consequences. To avoid missteps, consider these due diligence questions to gain clarity and confidence before signing. The Parties Involved in the … [More]

Short-Term Rentals: Key to Phoenix Rental Crisis?

by Nick Calvi

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

by Mike Hunter

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

by Mike Hunter

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

by Mike Hunter

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

by Mike Hunter

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

by Mike Hunter

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

by Mike Hunter

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

by Mike Hunter

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]

Navigating the Multifamily Real Estate Market during These Challenging Times

by Shravan Parsi

Like nearly every industry, the multifamily real estate market has taken a hit during the COVID-19 pandemic, but it may have one advantage that some industries don’t. People always need a place to live. For investors or potential investors in multifamily real estate, that means it’s just a matter of waiting for opportune moments to arise once the worst of the crisis has … [More]