retail

Having recently sold off The Stewart luxury apartment development on Central Avenue for $125.5M, The Empire Group/Aspirant Development is setting its sights on building Arizona’s tallest tower: The Astra Phoenix. The proposed 47-story, 535-foot tower …

By LPC Desert West In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Harvard Investments have purchased 585 acres in metro Phoenix’s West Valley submarket for a major new, …

The City of Tempe received one bid for the redevelopment of a 46-acre site near Tempe Town Lake that could become the home of a new mixed-use arena and entertainment district housing the Arizona Coyotes. …

CBRE’s recent Q2 2021 Tucson Retail Report shows retail leasing activity fell in Q2 with a negative net absorption rate of 24.5KSF.  Q1 net absorption had been 31.5KSF.  Quarter-over-quarter vacancy was 8.3 percent, up from 8.1 percent in Q1. Q2 2020’s vacancy was …

CBRE’s recent Q2 2021 Phoenix Retail Report shows retail vacancy dropped to 7.7 percent. Pre-leased construction projects fueled the drop from 8.0 percent in Q1. For reference, the three-year average vacancy is 8.1 percent.  The current pipeline shows 278.5KSF under construction, largely led by neighborhood and …

The City of Tempe has pushed back the request for proposals deadline for a new sports arena/mixed-use development at the NEC of Rio Salado Parkway and Priest Drive from August 19th to September 2nd. It …

Development for the Kino Sports and Entertainment Complex, recently took a step forward, with the Pima County Board of Supervisors approving a development plan with Knott Development, along the proposed business plan for the project. …

By Tasha Anderson for AZBEX  More luxury residential units are being planned for the Kierland area in Phoenix.  Developer, Mill Creek Residential, is looking to build Modera Kierland, a seven-story luxury multifamily and retail development located at …

By CBRE Investment in U.S. net-lease properties was close to pre-pandemic levels in Q1 2021, driven by robust sentiment, 1031 exchange requirements, increased interest in office assets as return-to-the-workplace plans gained momentum and, despite COVID-19-related …

By Colliers in Arizona  The first quarter of 2021 brought positive net absorption to the Greater Phoenix retail market, according to a report released by Colliers in Arizona. Absorption pushed vacancy down and rental rates continue showing …

By SCHEELS SCHEELS, an employee-owned All Sports retailer, is excited to bring its first location to Arizona, opening Fall of 2023 in Chandler. The new shopping destination is planned for the Chandler Fashion Center after …

Diversified Partners announced a major 17 acre mixed-used development at NEC of Ellsworth and Elliot roads in Mesa, Arizona. The Elliot tech corridor, which includes Apple, Edgecore, Dignity Health, and the future Google site, will be …

The Pima County Board of Supervisors has approved a Predevelopment Services Agreement with Knott Development, Inc. for the proposed Kino Sports Complex expansion. The plan includes adding sports facilities and extensive new retail and commercial …

By Tasha Anderson for AZBEX Developers Sub4 Development and Jackson Dearborn are looking to build a new, approximately $30M mixed-use project in Old Town Scottsdale consisting of a multifamily component, commercial space and more. Zoning …

The recently released NAIOP Research Foundation “Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” study lists Arizona in eighth place, nationwide, contributions to state GDP for both warehouse and manufacturing development. Data for 2020 showed commercial construction and …

By Tasha Anderson for AZBEX The City of Phoenix heard and approved a request to rezone approximately 91.16 acres at the NWC of Tatum Boulevard and Cactus Road at its February 4th Planning Commission virtual …

By Tasha Anderson for AZBEX  The Boyer Company is planning a multifamily and commercial development as part of the Rio 2100 mixed-use development in Tempe.  Known as Rio East, the project will be located on 14.2 acres at 98 South River Drive. …

By Colliers International  The retail real estate market was arguably hit hard by the COVID-19 pandemic, but Metro Phoenix endured the challenges more successfully than most markets. The metropolitan area posted positive net absorption in 2020 and rental …

SimonCRE recently purchased a 13.5-acre multi-pad center at the SEC of Ocotillo and Ironwood roads in San Tan Valley and is planning a retail project valued at $20M at build-out.   The company will develop a 22KSF building for Goodwill. Additional plans include …

By CBRE  Phoenix offers one of the most favorable development markets for commercial construction in the U.S. according to CBRE’s U.S. Development Opportunity Index. The Valley of the Sun secured the third overall spot on the inaugural list with …

By JLL Medical office experts in the Phoenix office of JLL have been selected to market approximately 80KSF of new medical office space planned for one of the last Val Vista Drive-fronting parcels surrounding Dignity Health’s Mercy …

By Jeanine Jerkovic for City of Surprise  When you’re a city called “Surprise,” it’s safe to say that constant change is a bit of a norm, however 2020 accelerated more change than ever for us – and somewhat …

By NAI Horizon  The NAI Horizon Self Storage Group represented the buyer, Vault at Houghton Road LLC, in the $690K purchase of 10.4 acres of land at the SEC of Golf Links and Houghton roads in Tucson.  The buyer …