Author Archives: David McGlothlin


How the BOMA 360 program enhances properties

2800 Tower: The 21-story, 364,533-square-foot Class A office complex is located just south of the southwest corner or Central Avenue and Thomas Road. (Photo by Mike Mertes, AZRE)

If you own an expensive sports car, you ensure the vehicle’s value and longevity by making sure it is cared for by the most qualified professionals. Likewise, owners of a multi-million-dollar buildings tend to want the same thing. Building certifications, awards and designations can help add value to a property, but not every designation adds… Read More →

Q&A: Incoming president refocuses and recharges BOMA

BOMA
by in AZRE Magazine

Since the Building Owners and Managers Association was founded 110 years ago, commercial real estate professionals look to BOMA as a leading source for advocacy and education in the industry around the world. In Arizona, BOMA Greater Phoenix was established in 1936 with the same mission to be the industry leader for best practices, providing… Read More →

The rise of ‘lock and leave’ resort-style living

lock and leave
by in AZRE Magazine

At the new Mountain Shadows Resort Condominiums, residents are trading in the chores of owning a home for the luxuries of “lock and leave” resort-style living. Located below Camelback Mountain, this project marks the first three-story residential building in Paradise Valley and epitomizes the growing popularity of the “lock and leave” lifestyle. Westroc Hospitality, known… Read More →

Gilbert plans for more business, residents and visitors

East Valley
by in AZ Business Magazine

The Town of Gilbert is attracting new residents and companies to the area by making a name for itself as a live, work, play city. It projects significant business and residential growth in the next 10 to 20 years, which includes approximately 80,000 more residents by 2030 and nearly 20,000 more employees in one of… Read More →

Top 10 LEED certified buildings in Arizona

Northern Arizona University International Pavilion (Photo courtesy of AIA Arizona architects)
by in AZRE Magazine

In December, the 400,000-square-foot, REI Distribution Center in Goodyear became the first distribution center in the United States to achieve both LEED Platinum certification and Net Zero Energy rating. It was also named the first distribution center to earn Platinum certification in 2016 as well as the second largest Platinum certified industrial project in the… Read More →

How retail is bringing shoppers back for more

retail
by in AZRE Magazine

Why someone returns to a store or shopping center can be hard to peg but most shoppers want stores to be a hub for convenience and entertainment where experiential retail merges with things to do outside of shopping. According to a recent Coldwell Banker Commercial Affiliates survey, shoppers still value traditional brick-and-mortar shopping experiences. In… Read More →

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 on Friday 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 →