March 5, 2020

The first floors of many new apartment buildings have become bustling spaces boasting the best amenities. More akin to hotel lobbies, these spaces are rapidly becoming a selling point from developers hoping to lure tenants in competitive markets

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The Tempe, Arizona, construction pipeline is stocked with speculative projects as developers work feverishly to meet the overwhelming demand for office space. Tempe has become a nationally recognized office hub, known for its top-tier product, the presence of Arizona State University, lakeside views

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A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. Through his subsidiary Mt. Lemmon Holdings, the billionaire spent $80 million to purchase more than 24,000 acres of land with plans to build a smart city

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Affordable rental rates and home prices in metro Phoenix continue to attract Southern California residents in droves, according to a report by the University of Southern California Lusk Center for Real Estate. While it’s no surprise to local real estate experts

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One of the largest medical technology companies in the world has made the new IDEA Tempe campus its new home, with plans to hire more as the company grows. BD Peripheral Intervention has leased four of six floors in the building recently completed

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March 4, 2020

RED Development announced today that Block 23 in Downtown Phoenix will have four tenants occupying space at the high-rise, mixed-use destination by this summer, in addition to welcoming the first residents at The Ryan, a 332-residence apartment community

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It’s been about five years since the office tenants started moving out of an 11-story building on the southeast corner of Central Avenue and Camelback Road. In just over a year, tenants are expected to start moving in to luxury apartments. During the past 18 months

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Scottsdale Investment Management plans to develop a build-to-suit industrial complex in Goodyear after buying vacant land and a building from Lorts Manufacturing. Lorts Fine Furniture will continue to occupy its buildings, which includes about 10 acres and 150,000 square feet

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Fears related to the potential global economic fallout from the coronavirus sparked a meteoric drop in the stock market last week, including a more than 4,000-point plunge in the Dow. Even as jittery global stock markets have worked to claw back from steep losses

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With a $57 million construction project of Ottawa University’s new Surprise campus completed, Kevin Eichner already is planning the next expansion phase. Eichner, chancellor of Ottawa University, said he started the 2019 fall school year with 830 students

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March 3, 2020

On the heels of a 2019 announcement that longtime partners Ball Corporation, Raüch Fruit Juices and Red Bull chose the city of Glendale to build a U.S. manufacturing facility, Red Bull is now expanding those operations. The expansion will consist

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The retail market has begun to see a shift as stakeholders buffer their portfolios in the case of a market downturn. Retail investors have begun to focus on quality assets that are deemed recession-proof or resistant, such as assets that may include neighborhood

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Bridge Investment Group, a privately-held investment management firm based in Sandy, Utah, with $20.1 billion in assets under management, has purchased Country Club Verandas in Mesa, Arizona, from Weidner Property Management for $49.6 million

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After suffering some of the steepest rent cuts nationally during the financial crisis, Phoenix has recovered well, and now commands a drastic lead in pricing performance among the nation’s biggest markets, according to new data from RealPage. As of January, annual rent

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The latest phase of Park Central Mall to convert a former department store into an office building is wrapping up at the midtown development, focusing on one of the largest buildings on the site. The renovation of what is called the Burgbacher building on the northernmost

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March 2, 2020

The Phoenix office market finished 2019 on a high note, with a decrease in the region’s overall vacancy rate and increases in net absorption, construction and rents, according to research from Colliers International.In 2019, 3.4 million square feet of new

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The Park Central development team is now working on a new phase of renovations to the iconic property, with the focus on one of the largest buildings on-site — opening up a unique opportunity for an up to 80,000 square foot floor plate in the central

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The developer of the planned Central Park mixed-use project to be built near Steele Indian School Park is beginning to market the office development’s first phase to potential tenants. “We kicked off our broker event about a month and a half ago,” Richard Garner, chief

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While we hear lots of argument about how tall is “too tall” or how dense is “too dense,” very few candidates are talking about the real problem facing Scottsdale. For 20 years, our city has been headed down a path that will, if not reversed soon, permanently

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The numbers definitely grab your attention. The West Valley (which is made up of Avondale, Glendale, Goodyear, Peoria, parts of Phoenix and Surprise) has a population of more than 1.7 million people, with an average household income of more than $70,000 per year

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February 28, 2020

The City of Scottsdale’s newest luxury hotel broke ground Wednesday at the corner of Highland Avenue and Goldwater outside of Fashion Square mall. Caesars Republic Scottsdale, opening fall 2021, will be the first non-gaming branded Caesars hotel

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Strong demand from both domestic and foreign investors, combined with moderate economic growth, is expected to keep capitalization rates for U.S. commercial real estate assets broadly stable in 2020, according to the latest research from global property

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Bank branches are going the way of checks—they’re vanishing, albeit slowly.In fiscal 2019, the number of bank branches in the U.S. dwindled by 1.9 percent, according to a February 2020 report from commercial real estate services provider JLL. And in the past decade

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International real estate investors that moved to the sidelines early in 2019 due to high hedging costs returned later in the year with plenty of dry powder and a healthy appetite for U.S. assets. That shift was shaping up to provide a boost to cross-border capital flows

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Phoenix is ground zero for a rapidly growing hybrid rental housing product that’s catching the attention of national homebuilders. Big publicly traded home builders such as Horsham, Pennsylvania-based Toll Brothers Inc. and Scottsdale-based Taylor Morrison Home Corp

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