Co-Working Spaces: Hot Trend in Commercial Real Estate

by RaeAnne Marsh

Co-working space has been around for a long time. Ryan Bartos, executive vice president of JLL, which specializes in commercial real estate services and investment management, notes that Regus, now the world’s largest provider of flexible work spaces, has been around since 1989. “The big change that we’re seeing from the late 1990s to now,”… [More]

Zoning – Consequences of Code Violations

by Bruce May

Zoning is the manner in which cities and counties regulate land use. Typically, land is divided into residential, commercial and industrial districts, or it can also be designated as mixed-use, each with its own parking, setback, height and other design requirements. In addition, the city, in the course of approving a zoning application, may require… [More]

Retail in PV Area

by Mike Hunter

Ready to break ground following unanimous approval by the Scottsdale City Council, The Palmeraie will incorporate a variety of dining destinations led by celebrated local and international chefs and be home to more than 60 exceptional luxury and specialty boutiques. Its initial phase encompasses approximately 160,000 square feet of high-end, mixed-use space located on 18… [More]

Chandler for Entertainment 

by Mike Hunter

The large-scale retail, dining and entertainment destination set to take shape in Downtown Chandler broke ground March 29, and the first phase of the sprawling, 77,000-square-foot space is expected to open for business sometime in early 2018. Phoenix-based LGE Design Build has taken on the role of general contractor for the undertaking, teaming up alongside… [More]

Downtown Grocery

by Mike Hunter

Last month’s groundbreaking for Block 23 heralded the addition of a crucial and long-awaited amenity for Downtown Phoenix, as Arizona-based Fry’s Food Stores becomes the area’s first grocery store and is promised to be the most technologically advanced grocery store in the state. Slated for completion in 2019, RED Development’s Block 23 will also include… [More]

Adaptive Reuse: Breathing New Life into Old Buildings

by Adam Baugh

One of the unexpected successes arising out of the last recession is the rebirth and renewed interest in older, historically significant buildings. In many ways, they have enjoyed a renaissance in being repurposed again. This process, known as adaptive reuse, is the tailoring of old structures for new purposes other than those initially intended. As… [More]

Phoenix Shows Strength as Investment Market

by Dennis Desmond

After a slowdown that pushed large Phoenix office building sale activity down from 33 deals in 2015 to 22 deals in 2016, the office market got off to a strong start in the new year. Robust population growth, an expanding job market and strong corporate performance have helped institutional America overcome its uncertainty about buying… [More]

GCU’s West-Side Commercial Hub

by Mike Hunter

Continuing its efforts to turn underutilized assets on the west side of Phoenix into bustling commercial enterprises, Grand Canyon University is developing a major commercial hub in an area of town that had fallen on hard times. The land at 27th Avenue and Camelback Road is now home to more than 2,700 Grand Canyon University… [More]

Florida REIT Attracted to Tempe

by Mike Hunter

Carter Validus Mission Critical REIT II, Inc. of Tampa, Fla., purchased a mission-critical network intensive data center facility in the heart of Metropolitan Phoenix. “The investment provides this non-traded real estate investment trust a fully stabilized property with a long-term institutional quality tenant to add to their growing portfolio,” says Mindy Korth, executive vice president… [More]

Camelback Corridor Is Hot Area

by Mike Hunter

With a $24.65 million purchase, Lincoln Property Company has added 2777 Camelback to its Class A Phoenix office portfolio. The 104,618-square-foot building is located at 28th Street and Camelback Road, in a section of the Camelback Corridor undergoing a wave of new development. “The land surrounding 2777 Camelback is enjoying a major revival, thanks to multiple… [More]