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]
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]
CBRE
CBRE is the leader in the Metropolitan Phoenix commercial real estate market, offering strategic advice and execution for property sales and leasing, corporate services, property, facilities and project management, mortgage banking, appraisal and valuation, development services, investment management, and research and consulting. Throughout its business lines, the Phoenix … [More]
JLL
JLL is a leading professional services firm that specializes in real estate management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. At year-end 2018, JLL had nearly 300 corporate offices, operations in more than 80 countries and a global workforce of more than 88,000. The Phoenix office of JLL was established … [More]
NAI Horizon
NAI Horizon has been serving Arizona for more than 25 years, providing brokerage and property management services for local, national and international clients. We are proud to be the local representative of NAI Global, the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. Founded in 1978, today NAI Global has more than 400 … [More]
2019 Q1 Office Insight
According to JLL’s Q1 Phoenix Office Market Report, metro Phoenix has absorbed more than 1 million square feet of office space since the first of the year — a quarterly high not seen in more than 10 years. This is already massively ahead of 2018, which, though a notable year for local office space, recorded 1.7 million square feet in total absorption for the full 12 … [More]
2018 Q4: Phoenix Airport Office Submarket on the Rise
Phoenix’s Airport office submarket is quickly filling with new and expanding tenants, pushing vacancy rates down 9.3 percent year-over-year and inching rental rates up, according to data from JLL’s Q4 Phoenix Office Market Report. According to JLL, overall vacancy in the Airport submarket in 2018 fell from 32.7 percent to 23.4 percent. During the same time period, submarket … [More]
