Bluedot is continuing to support the electrification of business fleets for a greener world with EV Access, an electric car rental service aimed at visitors and Uber drivers in Phoenix, Arizona, to power its fleet. EV Access incorporates Bluedot's latest iteration of its advanced fleet management program as part of its ongoing partnership to streamline … [More]
Real Estate Investment Trust Completes $160 Million Sale of Eight Arizona Facilities to Dignity Health
Medical Properties Trust, Inc. announced the sale of the 50-bed Arizona General Hospital in Mesa and seven freestanding emergency department (“FSED”) facilities in the Phoenix metropolitan area to Dignity Health, a wholly-owned subsidiary of CommonSpirit Health, for $160 million. The sale price and current cash rents imply a capitalization rate of less than 7.5%. The Company … [More]
Italian Restaurant Chain Opens Third Valley Location, Touts Breadstick Sales Are Back in the West Valley
Kind Hospitality — the restaurant group specializing in presenting elevated dining experiences with a portfolio of 52 locations across well-recognized favorites such as Macayo’s Mexican, Food, Panera Bread, O.H.S.O. Brewery, Native Grill & Wings, Fazoli’s and more — announced its first West Valley Fazoli’s location and its third in the metro Phoenix area is now open. … [More]
Investment Real Estate Co. Expands to Arizona, Veteran Broker to Lead Phoenix-Based Team
Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, is expanding its national footprint. Senior commercial real estate broker Steve Lowe and his Phoenix, Arizona-based team that specializes in multi-tenant retail and shopping center sales, have joined Secure Net … [More]
Phoenix Industrial Market Adds 10 Million New Square Feet in Q2, Says Report
Strong net absorption of 5.3 million square feet helps vacancy remain below 10 percent
The Greater Phoenix industrial market delivered 10.0 million square feet of new space during second quarter, marking the completion of a portion of the record construction started in 2023, according to a report released by Colliers. Strong net absorption totaling 5.3 million square feet assisted in minimizing vacancy rate escalation, resulting in a current vacancy of 9.0 … [More]
Developers Break Ground on $100M Mixed-Use Development in Gilbert
Okland Capital and San Tan Development Group announced they have broken ground on phase one of Northside at SanTan Village, a brand new mixed-use development that will bring high-end retail, restaurant and hotel amenities to the SanTan Village submarket in Gilbert, Arizona. Located on the east side of Santan Village Parkway between Williams Field and Ray roads, Northside phase … [More]
Phoenix Arts & Culture Announces Nine Artists Selected for its ¡Sombra! Public Art Project
Artists will create shade and cooling installations in public parks as part of City’s efforts to address extreme heat
The Phoenix Arts & Culture Department has announced the selection of nine artists for its “¡Sombra!" public art project. Funded by a $1 million Public Art Challenge grant from Bloomberg Philanthropies, the artists will create temporary shading and cooling installations in response to Phoenix's extreme urban heat. … [More]
Arizona’s Clean Elections Concludes Successful Primary Debate Series Surpassing Reach Expectations
Clean Elections, Arizona's non-partisan source for voter education is celebrating the halfway point of its historic debate program. This year's series premiered in partnership with the Arizona Media Association (AMA) at BitFire Studios with hundreds of media brands leveraging the debate content including major debates being simulcast and all others distributed … [More]
Westgate-Adjacent 296-Unit Multifamily Property Sells for $76.6M in Glendale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Glen 91, a 296-unit multifamily asset in Glendale, Arizona. The property sold for $76.5 million, or $258,446 per unit. “The West Valley’s municipalities, which include Glendale, have experienced outsized growth in the post-pandemic boom and are among the Valley’s most in-demand … [More]
Phoenix Leads the Nation in Active Industrial Construction, Says Report
Valley’s industrial sector delivers over 10 million square feet last quarter, with 37 million currently underway
After delivering over 10 million square feet of industrial product last quarter, Phoenix continues to be a hotspot for industrial development and currently ranks first in the U.S. for active projects with 37 million currently underway, as highlighted in LGE Design Build’s Q3 Construction Delivery Outlook report released today. “Custom-built industrial projects, student … [More]
SBA Announces New Grant Funding for Native American-Owned Small Businesses
Native American Trade Expansion Program to Provide Up to $240,000 in Grants
The U.S. Small Business Administration (SBA) announced a funding opportunity for Native American-owned small businesses under its new pilot Native American Trade Expansion Program (NATEP). The new program will provide up to $240,000 in grants to expand exporting opportunities to Native American-owned small businesses. The deadline for eligible small business concerns to submit … [More]
Scottsdale Quarter Restaurant Acquired, Will Close Temporarily for Renovation
etta Scottsdale, which opened in 2022 at Scottsdale Quarter, has been acquired by Austin-based RDM Hospitality. It will be closing temporarily for renovation beginning July 22 and plans to re-open in late September as a re-imagined neighborhood, Modern-Italian vibe dining concept under new ownership with the same … [More]
Construction Co. Breaks Ground on Papago Golf-Adjacent Office Building, HQ to Several Golf Organizations
Wespac Construction, Inc. has announced the groundbreaking of the Papago Golf House, a new 14,100 SF office building located adjacent to the Papago Golf Clubhouse and Pavilion, 5595 E. Karsten Way, as well as the Arizona State University Golf Team Practice Facility. The project will serve as the headquarters for numerous state and national golf organizations involved with … [More]
Investment Co. Closes on Land in San Tan Valley to Develop Single-Family Build-to-Rent Communities
Harvard Investments closed on land sales to a homebuilder and multifamily developer who plan to construct single-family residences and build-to-rent units, respectively, in the growing, unincorporated community of San Tan Valley, Arizona. The two sales fetched $15.4 million. Harvard Investments, a real estate investment and development company, sold 133 guaranteed finished … [More]
Nearly 1 in 4 Sellers Cut Home Prices as Inventory Grows
Home listings are piling up as buyers step back from the peak of home shopping season faster than normal, according to the latest monthly report from Zillow. "A growing segment of homes that aren't competitively priced or well marketed are lingering on the market. Sellers are increasingly cutting prices to entice buyers struggling with affordability," said Skylar Olsen, … [More]
Arizona Residents Expected to Pay 75% Increase in Electricity Costs this Summer
New data has revealed the states that will encounter higher electricity expenses this summer. Arizona residents will likely have to shell out an extra $100.15 per month to keep cool - the highest extra cost for any state. Conducted by electricity experts Texas Electricity Ratings, the study analyzed Energy Information Administration (EIA) data to rank states based on … [More]
Where to Watch the WNBA All-Star Game: DTPHX Sports Bars
If you didn't grab tickets to the WNBA All-Star Game, we've got you covered with the next best spots to catch it on TV. Cheer on your favorite players from the incredible sports bars that Downtown has to offer. Enjoy a weekend full of delicious food, tasty beverages, and the vibrant energy of DTPHX. City of Phoenix Ready to Welcome 2024 WNBA All-Star Game Here are a … [More]
Gainey Ranch Shopping Center Debuts New Look and Introduces Two New Restaurants
The Shops at Gainey Ranch, nestled along the north side of Doubletree Ranch Road, has completed renovations on the 30,591 square foot shopping center featuring a new light-colored exterior, black awnings and ironwork, and refreshed signage. Corso Italia Restaurant & Market fine dining is open, and el Carbón Mexican Eatery opens on Saturday, July 20th. El Carbón Mexican … [More]
