RED Development today announced the first phase of retail is nearing 100% leased at PV, the highly anticipated redevelopment of the former Paradise Valley Mall, ahead of its grand opening this fall with the addition of seven new tenants, including first-to-market restaurants
VanTrust held a ceremonial groundbreaking event for Phase I of the 48-acre VT 101 industrial park, which will consist of three buildings totaling 750,000 square feet. Elected officials, City staff and the project team gathered to celebrate the occasion. VT 101 is located along Loop 101
Verrado has proven to be a hotspot for development in Buckeye, with one particular intersection standing out, and now plans for more retail are taking shape there. A Costco opened up last summer at the southeast corner of Interstate 10 and Verrado Way. A new Abrazo Health
One of the last remaining large pieces of land along Baseline Road in south Phoenix, long home to a wholesale tree nursery, is to be developed into houses, apartments and commercial buildings, including retail stores and restaurants. The 104-acre stretch of land located at 19th
As a security guard at Taiwan Semiconductor Manufacturing Co.’s factory site in north Phoenix, Meareg Mamo has a front row seat for the growth of the Valley’s semiconductor industry. It’s also sparked Mamo’s interest in changing careers with the goal of someday working alongside
It’s been tough to navigate the housing market since the pandemic’s broader economic effects wreaked havoc on buyers and sellers. The primary impact has been the Federal Reserve’s move to push up interest rates to fight against inflation, increasing lending and mortgage costs
Years of planning culminated on May 29 with a state land auction that lasted less than five minutes. As a result, the fate of a massive science and technology park in north Phoenix is now in the hands of Mack Real Estate Group. The New York City-based firm spent $56.28M
North Scottsdale neighbors may or may not be singing its praise when a project called Aria at Silverstone makes an operatic request. When the curtain raises for Aria, John Berry – the Placido Domingo of Scottsdale rezoning attorneys – will attempt to carry a tune about a 115-unit
A 34-acre parcel south of Falcon Field that was once slated to be a Sam’s Club is poised to become a mega warehouse park with two drive-thru restaurants. The large-scale project looks similar to recent industrial parks in southeast Mesa, but it will be nestled in the Falcon District of north Mesa
The remaining vacant land around Loop 202 in Phoenix is taking shape following another major approval from the city. Phoenix City Council has given the green light for a nearly 300-acre master-planned development, called Gila Foothills, that could bring a new 50-acre resort, electric vehicle campus
Multifamily markets in the Northeast tend to be the most overpriced while the Sun Belt and West lead in terms of underpriced apartments, according to a new report. Researchers at Florida Atlantic’s Real Estate Initiative, along with colleagues at Florida Gulf Coast University and the
Real estate investment and services firm ViaWest Group this month acquired a single-tenant industrial property in Phoenix from California-based Stos Partners for $16.5 million, or $175.19 per square foot. Phoenix-based ViaWest bought the building, leased to
A record number of apartments were absorbed in Q1. Surging by nearly 104,000, that blows away the average of 12,500 recorded in that time frame over the past 30 years, Marcus & Millichap reported. “With traditionally strong spring and summer months still to come, should put
Offices are seen as a place where companies can house their employees and headquarter their operations. It has been a staple of company infrastructure since the creation of the first skyscrapers. Now, they’re being left vacant, resulting in developers considering ways to re-invigorate
Whether you tally by total dollar volume or number of physical properties, investment in multifamily has continued to tumble in the first quarter of 2024, according to data from RealPage. It’s at the lowest level since the second quarter of 2020, the depth of the pandemic. But
The long-term nature of office leasing has slowed the market’s adjustment to the shift in office utilization catalyzed by the COVID-19 pandemic, helping building owners preserve at least some income from in-place tenants. But with demand for office space slow to bounce back, the
A uniquely designed, newly built office building in the heart of downtown Tempe is under new ownership. Cross Ocean Partners, a financial services firm with offices in Connecticut, London and Ireland along with Breakwater Property Partners, a Southern California real estate
In the heart of Phoenix, a wave of redevelopment has swept through downtown marking an evolution in its urban landscape. Spearheading this resurgence are three distinct trends: the burgeoning bioscience core, the adaptive reuse of historical buildings and the flourishing
An abandoned golf course at the southeast corner of 59th and Southern avenues in Phoenix’s Laveen Village could get a new lease on life, after years of intense talks between the property’s owner and community residents. “It’s not fair to call it a golf course,” said Adam Baugh
Arizona cities could get more dense developments without zoning fights, and tiny backyard homes will become much easier to build due to two bipartisan housing bills signed by Gov. Katie Hobbs on Tuesday. Several pieces of legislation have been introduced to tackle Arizona’s
The commercial real estate forecast for the year’s second half remains predominantly upbeat as multifamily, retail and industrial properties maintain strong performance. However, potential hurdles loom ahead. According to a May 6 report by J.P. Morgan Chase, persistently
Across the nation in April, median asking rents for units of all sizes fell year over year. Parts of the Midwest, however, did not get the memo, and rents rose, according to Realtor.com’s April rental report. In Nashville, rents for 0-2 bedroom apartments plummeted 8.4%, with
A new Chick-fil-A location appears to be hatching in Tempe, at the site of a long-time restaurant that closed more than a year ago. Earlier this month, the Tempe Development Review Commission approved two use permit requests that will allow a proposed Chick-fil-A location to be
Park Algodon, a $250 million industrial and mixed-use project in Phoenix, officially broke ground this week by leading Phoenix-based real estate development firm Creation, alongside joint-venture partner Clarion Partners. To mark the occasion, the developer held a groundbreaking
Affording a rental home is pricey in Arizona, but several other states demand an even higher “housing wage.” A household must earn $62,252 to afford a two-bedroom rental in Arizona, according to the National Low Income Housing Coalition. That means an Arizona renter must