Luxury Rentals Hot

by Mike Hunter

The City of Phoenix was one of the 75 largest U.S. cities included in a market report from RENTCafé that tracks apartment rental rates. It clocked a 7.3 percent growth rate, which placed it No. 12 on the cities with the fastest-growing rents. Mesa topped that, with its 9.7 percent rent increase making it the… [More]

PV Adds Destination

by Mike Hunter

The overwhelmingly residential community of Paradise Valley will soon offer a new resort, Mountain Shadows. Completely rebuilt from the ground up by Westroc Hospitality and Woodbine Development, Mountain Shadows will feature 183 modern guest rooms, including a presidential suite facing Camelback Mountain. An additional wing with 42 resort condominiums and suites will open in fall… [More]

New Restaurant and Retail

by Mike Hunter

WINLEE Development, the real estate development division of locally based investment firm Winfield Lee Investments, has commenced construction on Chandler Viridian PRIMEGATE at Fashion Square. PRIMEGATE is the 24,000-square-foot distinctive restaurant and retail component of the 25-acre Chandler Viridian mixed-use project being developed by the consortium of Hines, Alliance Residential, Concord Hospitality and WINLEE. The… [More]

Artistically Thriving

by Mike Hunter

Desert Viking Development’s new project, The Blocks of Roosevelt Row, will see the adaptive reuse of three bungalow-style homes and the prominent Flowers building, and construction of a new, three-story commercial building. The project to revitalize a portion of the Roosevelt Row Arts District is set to be completed in fall 2017, with portions delivering… [More]

First Post-Recession Medical Office Spec 

by Mike Hunter

The Arrowhead Orchards medical office development in Glendale is the first MOB spec project in the Valley since the recession. The property owner, Arrowhead Health Center, LLC, an entity affiliated with Legend Real Estate Management, Inc., has begun developing 22,700 square feet of new product. CBRE’s Vince Femiano, who, with Katie Kelley, will be responsible… [More]

Walmart Supercenter Rises at Metrocenter Mall 

by Mike Hunter

Construction began at Phoenix’s Metrocenter Mall this past summer on a Walmart Supercenter. The approximately 148,000-square-foot Walmart, slated to open next spring, represents the single largest capital investment in Metrocenter Mall in decades. Metrocenter Mall opened in 1973 as the biggest shopping center in Arizona and one of the largest nationwide. Recent years saw Metrocenter… [More]

Ak-Chin Casino Expands 

by Mike Hunter

The Ak-Chin Indian Community has broken ground on a multi-million-dollar expansion of Harrah’s Ak-Chin Casino that will include a spa, a conference center with multi-use ballroom space, a parking garage, additional restaurants and more than 200 additional rooms. According to Robert Livingston, general manager of Harrah’s Ak-Chin Casino, this expansion will not only increase room… [More]

Luxury Multifamily in Glendale

by Mike Hunter

P.B. Bell has opened Velaire at Aspera, a nearly 13-acre luxury apartment community within the long-awaited Aspera mixed-use development in Glendale. Velaire at Aspera, the third new community P.B. Bell has opened since late September, offers one-, two- and three-bedroom luxury apartment homes in a resort-like setting, with amenities that include a theater, dog agility… [More]

Navigating Commercial Leasing to Medical Marijuana Dispensaries

by Adam Buck

Growing and selling marijuana may be the most controversial business in America, but, due to changing public opinion and the current political climate, it shows no signs of slowing down. Unless the Federal government decriminalizes the manufacture, sale and use of marijuana, it remains a very risky business, not just for the business owners but… [More]

Smoke-Free Gaining in Multifamily

by RaeAnne Marsh

A ban on smoking is an emerging trend in multifamily residential properties, gaining traction especially over the past two years, according to Bryan Fasulo, regional property manager for national multifamily management company Pinnacle, which manages Residences at Fountainhead, a development at Tempe Town Lake, and Proxy 333 in Downtown Phoenix. Support programs in Arizona are… [More]