August 19, 2020

Amazon.Com Inc. confirmed Wednesday that it plans to open 11 new sites in the Valley by the end of the year for fulfillment and delivery operations. The new sites include seven delivery stations and two additional facilities to support fulfillment, in Avondale, Chandler, Goodyear, Mesa

Read The Full Article...

The Shops at 38th Street, a fully-occupied Arcadia Shopping Center,  was sold this week for $6,100,000 or $265 per square foot. Nick Miner, CCIM of ORION Investment Real Estate represented the Seller Richard Oliver, who he also helped acquire the same

Read The Full Article...

A developer already has “Surf Mesa’’ tee-shirts printed, hoping that his proposed two-acre “surf lagoon” turns into a regional attraction near Phoenix Mesa Gateway Airport. But while the lagoon is the centerpiece of Cannon Beach, it also includes 475,000 square feet of commercial

Read The Full Article...

VanTrust Real Estate intends to break ground on a distribution building along the Loop 303 corridor in Glendale, Arizona, adding to its list of major projects underway in the state. The development company, based in Kansas City, Missouri, paid $14 million to buy the 76.4 acres

Read The Full Article...

The Arizona Department of Health Services has given the OK for dozens of gyms, bars and theaters to reopen after reviewing their plans to limit the spread of COVID-19 at their businesses. The green light was given to two movie theaters, 31 fitness centers and five bars

Read The Full Article...

August 18, 2020

Nationwide, multifamily construction is in its second consecutive year of decline after peaking in 2018. This year, an estimated 283,000 new units are expected to hit the market, 12% less than in 2019. Here are the highlights for Phoenix Metro: Phoenix Metro area is set to see a 37% drop in apartment construction

Read The Full Article...

Apple Hospitality has acquired a turnkey, dual-branded hotel on Arizona State University’s campus in Tempe, Ariz. Mortenson Construction developed the 105-key Hyatt House and the 154-key Hyatt Place and sold the properties for $64.6 million. Nelson Knight, Apple’s president of real estate and investments

Read The Full Article...

The Phoenix medical office market experienced a surge in absorption during the second quarter as coronavirus cases increased in the region. As a result, the asset class has managed to outperform expectations during the pandemic with 192,001 square feet of net absorption led by Maricopa Integrated Health Systems

Read The Full Article...

Amazon.com Inc. said Tuesday it will create 500 new technology and corporate jobs in the Phoenix area, expanding its office space in the Valley by more than 90,000 square feet. The move is part of a national expansion to six different cities where the online

Read The Full Article...

Millions of apartment residents have fallen behind on their rent payments, according to data from the U.S. Census—and the damage is likely to spread as the economic crisis caused by the novel coronavirus continues. Federal assistance that helped millions of renters

Read The Full Article...

August 17, 2020

The industrial sector has been deemed one of the top performing commercial real estate asset classes, due to low vacancy rates, rising rents in some markets and positive net absorption. But despite solid fundamentals, investment sales volume in the sector

Read The Full Article...

Two Arizona markets are among the top in the nation for multifamily rent growth. Fueled by robust population gains and a moderation in single-family home building over the past decade, healthy demand for apartments has given landlords leverage to lift rents. Among all large

Read The Full Article...

One trend to watch in the real estate market in the coming years is that demand for single family homes specifically built to rent is expected to grow, according to a recent report. Real Estate Advisors is forecasting that, given current demographics of more householdings

Read The Full Article...

A Phoenix-based developer instrumental in the Red Bull and White Claw facilities being built in the West Valley has closed on a 614-acre parcel of land in Glendale that will be the site of a $1.5 billion logistics park development. The parcel at the southwest corner of Bethany Home

Read The Full Article...

Perhaps more than any other modern company, e-commerce behemoth Amazon.com Inc. has disrupted the retail landscape. Within that territory, Amazon is now poised to shake up the retail real estate sector. The Wall Street Journal reported on Aug. 9 that Amazon is exploring

Read The Full Article...

August 15, 2020

PHOENIX — EOS Fitness announced they will reopen Arizona locations starting Saturday at 8 a.m. for workouts by reservation. In an e-mail to members, EOS Fitness’ CEO Rich Drengberg said they came to a reopening agreement with Gov. Ducey and the Arizona Department of

Read The Full Article...

In the fourth monthly NAIOP survey measuring the impact of the COVID-19 crisis on the commercial real estate industry, respondents say that deal activity is improving across most major sectors of the industry, but more now expect impacts from the crisis to affect their businesses

Read The Full Article...

Commercial Metals Co., an Irving, Texas-based steel and metal product manufacturer and recycler, announced plans Thursday to build the company’s third “micro mill,” which will be located in Mesa. “We are excited by the tremendous promise of CMC’s third micro mill,” Barbara R. Smith

Read The Full Article...

With development plans already underway for major projects throughout Arizona, VanTrust Real Estate recently acquired 76.4-acres of land at Sarival Road and Maryland Avenue strategically located along the Loop 303 corridor in Glendale, Arizona. VanTrust plans to break

Read The Full Article...

The national average multifamily rent rose by $2 to $1,460 in July, ending four months of consecutive declines following the start of the COVID-19 pandemic and recession. Year-over-year rent growth remains negative at -0.3%, unchanged from June.

Read The Full Article...

August 13, 2020

A developer of high-end extended stay hotels bought 4.5 acres of land in north Phoenix to develop the company’s first Arizona hotel property. WaterWalk, which is headquartered in Wichita, Kansas, purchased the development site at 19th Avenue and Pinnacle

Read The Full Article...

PHOENIX — A new Fry’s location will open in Gilbert next month, the grocery chain announced Tuesday. The 129,000 square-foot marketplace will open on Baseline and Higley roads Sept. 2. In addition to the usual food and wine selection sold at the grocery store

Read The Full Article...

High-rise, sustainable living in Arizona has reached a whole new level this week with the opening of 7180 Optima Kierland, the 12-story residential tower that boasts meticulously designed condominiums, along with the most impressive and expansive luxury amenity

Read The Full Article...

Homebuying in metro Phoenix is hotter than ever as extremely low mortgage interest rates are keeping potential homebuyers busy even during the hot summer months. Within the Valley’s vast 9,224 square miles, there are certain pockets where the action is hottest

Read The Full Article...

In crowded housing markets hit hard by the coronavirus pandemic, city dwellers are looking at where they want to live through a new lens. During the second quarter of 2020, 51% of realtor.com’s views from urban residents of the nation’s 100 largest metros

Read The Full Article...