Author Archives: David McGlothlin


Industrial & office steal spotlight from multifamily at 10th Annual IREM-CCIM Economic Forecast

FullSizeRender

While many turned their attention to Washington D.C. for the inauguration of President Donald Trump, the Valley’s heaviest hitters in commercial real estate joined forces at the 10th Annual IREM-CCIM Economic Forecast today at the Arizona Biltmore. For the program, 21 of the Valley’s top commercial real estate leaders with 521-plus years of combined CRE… Read More →

40 Commercial real estate companies to watch in 2017

Scheduled to break ground in early 2017, the Arizona Center renovations will take approximately nine months to complete.  (Rendering courtesy of Parallel Capital Partners and Angelo, Gordon & Co.)
by in AZRE Magazine

This year, experts still see Arizona as a hotspot for commercial real estate activity and development. While activity in other markets across the nation is starting to fizzle out, Arizona has yet to enter the ninth inning of the business cycle as a result of its slow and steady recovery following the recession. AZRE identifies… Read More →

2017 outlook: Getting creative with offices

WebPT recently opened up offices in Downtown Phoenix's Warehouse District, renovating an old warehouse, creating a unique and open office space for its employees. (Photo by Mike Mertes, AZ BIG Media)
by in AZRE Magazine | Office

For the office market, the latest trend is in spaces designed to be creative, collaborative and flexible. Newer developments emphasize flexible layouts, open spaces, upgraded common areas and amenities to create a more attractive work environment. The highest office rental rates for Class A office space are still found in the downtowns of Phoenix, Scottsdale… Read More →

2017 Outlook: Multifamily looking steady

The Opus Group began construction on the two residential towers late last year. (Rendering courtesy of The Opus Group)

Vacancy rates remain low despite the ongoing delivery of new high-end multifamily units. As long as vacancy remains in check, the multifamily market will remain strong in the Valley, which reports the average volume and sale price per unit is higher than 2007’s peak. Metro Phoenix set a new record for multifamily last year for… Read More →

2017 Outlook: Retail shifts from ‘bricks to clicks’

retail
by in AZRE Magazine | Retail

The “shift from bricks to clicks” in the retail industry describes a growing trend of retailers who are selling products online instead of at brick-and-mortar stores and shopping centers. In retail, net absorption remains low and vacancy higher than expected, but the most growth is being concentrated in a few hot submarkets like Central Phoenix… Read More →

2017 Outlook: Land to get solar bump

land
by in AZRE Magazine

Solar developers see Arizona as a hotbed for future solar facilities as new technologies emerge and the solar race picks up in the desert. Arizona’s solar boom is creating a lot of interest from solar developers buying 200-plus acres to smaller investors purchasing 20- to 40-acre parcels. According to Multiple Listing Service data, the number… Read More →

2017 Outlook: Medical market looking strong

Tempe
by in AZRE Magazine | Medical

Bioscience and medical sectors remain strong with dozens of projects occurring across the Valley. The transition in healthcare to a “well care” system instead of “sick care” model is accompanied by a goal to make healthcare faster, more convenient and accessible by developing more clinics, urgent cares and outpatient facilities. Expect to see a growing… Read More →

2017 Outlook: Industrial absorption could see rise

industrial absorption
by in AZRE Magazine | Industrial

Industrial vacancy rates returned to single digits for the first time since the third quarter of 2007 and the Valley’s market is expected to remain hot. Cushman & Wakefield reports overall asking rent rates in the Phoenix Metro reached its highest rate of $0.56 since Q3 2009. According to the same report, 15 of the… Read More →

Phoenix-based 2-D, 3-D imaging firm grows 92 percent

Eco3d

Eco3d, a Phoenix-based portfolio company that measures existing topographic, structural, mechanical and architectural conditions using a variety of instruments in 2-D and 3-D, had a landmark year in 2016, growing 92 percent from 2015. The Phoenix-based company completed more than 440 projects across North America in 2016 as it continues to cement itself as the largest digital as-built… Read More →

Event Recap: Rebuilding a leading housing market

(From left to right) John Graham, president of Sunbelt Holdings; Dana Volrich, division vice president at MacDonald Development Corporation; Steve Logan, Arizona division president at K. Hovananian Homes; Ryan Huffman, regional vice president of land acquisition and development at Arizona-Mattamy Homes; Jordan Rose, president and founder of Rose Law Group.

Heading into 2017, housing market experts share cautious optimism about the future of Arizona’s residential market, which they discussed in front of a sellout crowd of nearly 700 people at the eighth annual AZ Dealmakers event today. The theme for this year’s event — put on by Belfiore Real Estate Consulting, Rose Law Group and… Read More →

Collaboration drives development in Flagstaff

NAU
by in AZRE Magazine

Northern Arizona may not have the same towering skylines or network of commuter trains as Metro Phoenix or Tucson, but the Economic Collaborative of Northern Arizona doesn’t want companies to be fooled by its laid-back demeanor. ECNoA, an economic development organization supported by 16 regional agencies in Northern Arizona, works collaboratively across public and private… Read More →

Joint efforts help create economic development

Downtown Phoenix (Photo by Mike Mertes, AZ BIG Media)
by in AZRE Magazine

When a company relocates to a region, it creates a lot of benefits that spin off to the entire broader region, county and state as a whole. Mayors, city officials, economic development teams and groups are working together to facilitate more economic development opportunities throughout the state by finding the right locations that best serve… Read More →

Putting the living back in senior living

Weitz Company
by in AZRE Magazine | Senior Living

Whether it’s a 92-year-old flying in a glider plane for the first time or built-in movie theaters and Starbucks, today’s senior living communities are putting the living back in senior living. Many of the same features showcased at the latest luxury multifamily developments like resort-style pools, spas, upgraded common areas and things to do can… Read More →

Trends redefine core assets in the Valley

CityScape
by in AZRE Magazine

While some criteria for classifying a building as a core asset a decade ago still remain, changing trends in the market and tenant demands are recalibrating the way we think about core assets in the Valley. Property value, land scarcity and an institutional component originally drove market demand for core assets. The same is true… Read More →

Building better learning environments for higher education

ASU: The Student Pavilion will be the first net zero building on any of the ASU campuses, and will only operate on the energy produced on-site.

The design and construction of projects at universities play a critical role in improving learning and teaching environments. Arizona universities are raising the bar for higher education environments with more creative architectural designs and collaborative areas that incorporate new technologies and sustainability features. Newer projects show an increased emphasis on interactivity and creating collaborative environments… Read More →