Addison, Illinois-based equipment and parts distributor Parts Town Unlimited is planning to open a large distribution center in metro Phoenix — its first facility in Arizona and the Southwest. Parts Town will occupy all of a 420,536-square-foot warehouse in Glendale at the C|303
The search for deals is expected to drive a record number of consumers to shop over the Thanksgiving holiday weekend. An estimated 182 million people are expected to shop during the Thanksgiving holiday weekend, an increase of nearly 16 million compared to last year, according to
Every year, AZ Big Media, which publishes both PTK and AZRE magazines selects Arizona’s top people and projects to showcase in its premier commercial real estate magazine — PTK — from an impressive and competitive nomination pool. Each day we will highlight 20 different categories
A flurry of activity is taking place as part of the revitalization of Park Central in Phoenix as the project’s momentum continues to build as its redevelopment continues. Several key milestones have occurred recently at the midtown Phoenix property, including new tenants, new restaurants
Trepp regularly watches property prices, using an index technique to show relative strength compared to some baseline year. Right now the Trepp Property Price Index, self-described as a “vital tool for gauging the health of commercial real estate,” has seen a continuous decline since
The Henry, a favorite restaurant, coffee shop and meeting place among Phoenix’s business community, will be opening a new location a few miles down Camelback Road next year. Fox Restaurant Concepts, which was founded by Sam Fox and is now owned by The Cheesecake Factory
Nearly two years after purchasing an office campus in the Camelback corridor, Holualoa Cos. said activity is picking up amid renovations, a rebrand of the property and planned on-site multifamily units. Planned improvements to Tucson-based Holualoa’s WaterView campus — a nod to a more
The Greater Phoenix industrial market posted its historically highest level of new industrial space completions during third quarter, adding 12 million square feet to the city’s inventory. This drove a rise in net absorption and also elevated the vacancy rate, according to a report released
Despite the Federal Reserve’s aggressive tightening program over the past 20 months, the labor market has been surprisingly resilient. The 22 million jobs lost in March and April of 2020 as the economy shut down due to the pandemic were fully recovered by June 2022, and
Abrazo Health plans to break ground in the coming weeks on its promised 27-acre campus in Buckeye, which is directly across the street from a hospital campus proposed by Banner Health. Abrazo Health, owned and operated by Dallas-based Tenet Healthcare Corp. (NYSE: THC), plans
So far, views of how the economy would progress after the Federal Reserve’s attempts to fight inflation through a tough monetary policy — raising interest rates and reducing the Fed’s balance sheet of bond holdings — have fallen into two camps. In one, the preferred “soft landing,” with the
The rest of the former Onsemi campus is set to be razed in preparation for a major corporate user that wants to be near Phoenix Sky Harbor International Airport. After acquiring 72 acres of the Onsemi property in 2021 and 2022, officials with Baker Development Corp., which has offices in Chicago
Greenlight Communities, the trailblazing Scottsdale-based real-estate developer dedicated to constructing attainable workforce rental housing, marked a significant milestone with a special groundbreaking ceremony held recently for its 14th property located at 33455 N. North Valley
An office building owner in the Camelback corridor is seeking to add a luxury apartment to its site, following a trend of adding infill development to increase a property’s uses. The office complex, called Camelback Lakes, is on 26th Street and Camelback Road and is proposing to develop a 75-unit
A new CBRE analysis noticed signs that the real estate lending market has begun to stabilize. But don’t call for a round at the bar because the current state is not something to celebrate. “The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the
In front of a standing-room-only audience, Scottsdale City Council on Nov. 13 gave the thumbs up to one of the city’s most ambitious redevelopment projects. On a 5-2 vote, Council adopted an ordinance and two resolutions that will make way for The Parque — a $1 billion-plus mixed-use
Hollywood-based Fender Musical Instruments Corp. is planning to leave its Scottsdale corporate co-headquarters for a new build-to-suit office campus at the former Paradise Valley Mall in Phoenix. Known as one of the world’s biggest guitar brands, Fender plans to move into a nearly
After rising and then moving sideways in recent months, inflation emphatically resumed its descent in October. Consumer price increases eased more than expected as falling gasoline and used car prices offset another rise in rent and a rebound in health insurance costs. An underlying
The Phoenix multifamily sector finds itself in a renter’s market as 2023 winds to a close. Phoenix rents have declined by 4.7% year-over-year, according to one recent study by ApartmentList. Rent prices dropped 1% in October, more than the national average of 0.7%. The drop brought
A 206-unit apartment complex under construction near the shuttered Metrocenter Mall will be one of the area’s first new housing developments in decades, ahead of the redevelopment that plans to bring thousands of housing units to the site. Scottsdale-based MK Company is developing
The Federal Reserve’s Board of Governors have made it clear that while they think the “banking sector remains sound overall,” there are problems, according to the November 2023 Supervision and Regulation Report. One of the troublesome spots they called out was bank lending to commercial
Metro Phoenix’s bioscience industry is expanding its physical footprint, improving Arizona’s healthcare capacity and growing the economy along with it. Cushman & Wakefield’s September Life Sciences Update shows that the Phoenix bioscience boom has attracted
The 3 Palms Hotel in Scottsdale, Arizona, along with the on-site 5,500-square-foot restaurant occupied by Gecko Grill, sold in October to California private investors for $23 million. The seller was a private individual also based in California. The 3 Palms Hotel was built on 2.9 acres in 1978 and
The Arizona economic development community has worked diligently in the past few years to attract massive projects such as LG Energy Solution’s $5.5 billion battery factory in Queen Creek and American Battery Factory’s $1.2 billion facility in Tucson. Doing so requires these professionals to show the