The Westin Tempe, being developed by Las Vegas-based CAI Investments, has broken ground in the heart of Downtown Tempe. Eighteen stories, with 290 rooms, the multi-million-dollar hotel is planned to feature state-of-the-art guest rooms and corridors, with custom-designed elements and artwork, as well as energy conservation practices. Its more than 14,000 square feet of … [More]
Major National Tenant Space for SW Phoenix
With demand for premier, modern industrial space continuing to rise, the Southwest division of Graycor Construction Company has completed 710,000 square feet of shell and tenant improvement space for Prologis Inc., a global leader in logistics real estate. The new space, located within Prologis Riverside Distribution Center and Prologis Park Riverside, paves the way for three … [More]
Phoenix a Top Industrial Market
In the “Top 10 Emerging U.S. Industrial Markets Report” released last month, Colliers International features metropolitan Phoenix as a market to watch in 2018. Noting a robust tenant demand fueling new development, Bob Mulhern, senior managing director for Greater Phoenix, says, “With vacancy at a 10-year low, spec and build-to-suit projects continue to work their way through … [More]
Spec Tech Taken
Mobile food-ordering company GrubHub, Inc. has leased a 29,526-square-foot spec suite within ViaWest Group’s San Tan Tech Center in Chandler. “Our team had a ton of fun designing and building this cool-creative office space and we’re excited to see it being utilized by such a fitting tech-centric tenant,” says Danny Swancey, a partner at ViaWest. GrubHub adds a new office to … [More]
Multi-Tenant ‘High Rise’
Construction is moving quickly at the new Offices at Chandler Viridian, located at the intersection of Loop 101 and Loop 202 near the Chandler Fashion Center. The six-story, 250,000-square-foot project will be one of Chandler’s tallest and premier multi-tenant office buildings. Substantial completion is expected in Q4 2018, with the first tenants expected to move in by … [More]
AZ’s First All-Vegan Grocery
The first all-vegan grocery store in Arizona is among recent retail deals closed by Bryant Commercial Real Estate, a woman/minority-owned company. “This is the beginning of a changing retail landscape,” says Vinny Summo, who negotiated the lease on the 1,400-square-foot storefront for Veggie Rebellion owners Sandy and Dylan McKee. “The vegan food industry grew by $3.1 billion … [More]
Tempe Is Hot Property for Office Submarket
According to the Q4 2017 Phoenix Office Market report from JLL, a leading professional services firm that specializes in real estate and investment management, Tempe has enjoyed more than 27 percent of all office absorption since the start of Phoenix’s four-year positive absorption streak, in which the Valley has recorded annual absorption gains totaling 2.0 million square feet … [More]
Garden Condos in Biltmore
CONTOUR on Campbell is a new condominium project in the heart of The Biltmore. Its first-floor Garden Collection homes feature an expansive private patio of approximately 600 square feet — a very unique feature for new-build condos in Phoenix — that can be designed as an urban garden, an outdoor kitchen and dining area and/or to offer plenty of seating around a fire pit or … [More]
Deer Valley Industrial Spec
Dallas-based Jackson-Shaw and Las Vegas-based LaPour Partners Inc. have completed construction of Parc Pinnacle, an A-1-zoned, 311,840-square-foot, three-building speculative industrial development in Deer Valley. Each building features modern, flexible industrial space designed for manufacturing, distribution, assembly and related industrial uses. Situated on 20 acres at … [More]
West Side Luxury Home Development
Maracay Homes, a wholly owned company of the TRI Pointe Group, closed on 94 premium homesites in Peoria for a total purchase price of $7.56 million. The 80-acre land parcel, located at 77th Avenue and Pinnacle Peak Road, will be developed into a new, single-family-home neighborhood featuring all single-story homes, ranging from approximately 2,990 to 4,389 square feet. Homes … [More]
Rethinking the Office Space: Trends to Adopt in 2018
As technology continues to shape the world around us, people in today’s workforce have become more mobile and less tethered to their desks than ever before. Files can be accessed virtually anywhere thanks to cloud storage while cubicles have given way to smart workstations that allow employees to choose how they work. Technological enhancements are continually changing how … [More]
CBRE’s ‘Workplace360’ Initiative
CBRE’s recently opened state-of-the-art office at The Esplanade in Phoenix is part of the company’s global “Workplace360” initiative, and, at 75,000 square feet, is its largest. Guests, clients and employees enter the space in what’s known as The Heart, where they will be greeted by concierge staff. The high-tech common area features both a media wall and an immersive, … [More]
Pima Center Flex Full
MainSpring Capital Group, developer of the 232-acre master-planned Pima Center, has fully leased the latest of its flex industrial buildings at the business park. The two-building project is the first industrial project built in the North Scottsdale submarket in nearly 10 years; both buildings were fully leased prior to completion. The two buildings, each containing … [More]
Investor Enters Phoenix Market
Denver-based Allante Properties, LLC has entered the Phoenix investment market with the $8,750,000 purchase of Apex off 7th Street, a seven-building apartment community at 948 E. Devonshire Ave in the heart of Uptown Phoenix. “This acquisition offered an outstanding opportunity to participate in the renaissance of Uptown Phoenix,” says Bill Hahn, executive vice president of … [More]
Luxury Lofts within Westgate
Leasing began last month for the 76 loft-style luxury apartments within Westgate Entertainment District as owner iStar nears construction completion on the first residential living community located in the heart of the West Valley’s premier entertainment district. Opening February 1, The Lofts at Westgate include one- and two-bedroom residences ranging in size from 646 to 1,479 … [More]
The Downtown-Midtown Trifecta
A new wave of office, retail and multifamily activity has arrived in downtown and midtown Phoenix. The combination has created a self-supporting trifecta that is transforming these urban submarkets into true live-work-play environments, and attracting high-quality office tenants in droves. Significant leases from tenants like Quicken Loans, Uber Technologies, Spaces and … [More]
Arizona Center Adds Hotel
Arizona Center, Phoenix’s original downtown entertainment destination located at 3rd St. and Van Buren, plans to add an AC Hotel by Marriott to the property. Arizona Center owners Parallel Capital Partners is partnering with Las Vegas-based LaPour Partners on the 200-key upscale, urban-inspired select-service AC Hotel Downtown Phoenix at Arizona Center, with a classic yet … [More]
24th at Camelback Refresh
At 24th at Camelback, in the prestigious Camelback Corridor, a new monument sign and refreshed street landscaping are part of exterior ground-floor renovations that are expected to be completed this month. “Hines is investing nearly $1 million in improvements at the 24th at Camelback campus as part of our continued commitment to ensure we stay current with trends and respond to … [More]
