Retail Archives

Scottsdale approves retail portion of $2 billion Ritz-Carlton project

$2B Ritz-Carlton Project
by in AZRE Magazine | Construction | Retail

The Scottsdale and Paradise Valley area will be getting a little more luxurious, as the City of Scottsdale unanimously approved the luxury retail and dining location that will be the sister community of the $2 billion Ritz-Carlton master-planned community. The retail center, The Palmeraie, is a 160,000-square-foot high-end, mixed-use space on 18 acres at Scottsdale and… Read More →

Blue 32 Sports Grill completes 4th location in Chandler

Blue 32 Sports Grill
by in AZRE Magazine | Retail

The ownership team of Blue 32 Sports Grill continued its business plan of expansion by engaging a pair of locally owned companies to design and construct its fourth location, bringing life to a Southeast Valley corner that has been a blight for Chandler residents. Scottsdale-based firms Sigma Contracting and DPA Architects collaborated on the 4,000-square-foot restaurant… Read More →

Casa Grande retail center sells for $4.45M

Casa Grande
by in AZRE Magazine | Retail

A two-tenant retail center in Casa Grande sold for $4.45 million to Amir Fateh Amirian by an entity formed by the Hinkson Company LLC, according to CBRE who represented the sellers in the transaction. The 45,327-square-foot retail center is home to a Dollar Tree and Mor Furniture For Less at 1314 E. Florence Blvd., in… Read More →

17 retailers expecting to close stores this year

by in AZRE Magazine | Retail

Online shopping has been a force of change in the retail world, which has stirred many places to start redesigning and redeveloping to bring in more customers. There’s been news about many retailers closing around the Valley and the nation, but Phoenix has been seeing healthy leasing activity recently. Still, national retailers are closing doors,… Read More →

At Home will anchor San Tan Pavilions

San Tan Pavilions
by in AZRE Magazine | Retail

The San Tan Pavilions shopping center in Gilbert will be anchored by a home décor superstore, At Home, according to an announcement from the project developers. This will be the sixth At Home location in Arizona and will offer both in-home and outdoor furniture. At Home is stocked with quirky, traditional, modern and exotic home furnishings, and… Read More →

Report: 2016 gross retail lease activity beats out 2015

by in AZRE Magazine | Retail

CBRE Research released its Q4 2016 Phoenix Retail MarketView and Big Box reports, and overall the Valley’s retail market performed well to close out the year. Top-level highlights included: Overall market fundamentals & general leasing activity: Q4 was highlighted by roughly 600,000 square feet of positive net absorption, which was the greatest amount of any… Read More →

$25M downtown Chandler retail destination to open in December

Downtown Chandler
by in AZRE Magazine | Retail

Now that there’s a signed agreement in place, a 77,000-square-foot retail and dining project in Downtown Chandler is planned to open its first phase in December 2017. The $25 million project, dubbed Overstreet, will be anchored by Flix Brewhouse, a feature film theater with an in-house microbrewery, and will be built on the southwest corner of… Read More →

29,219 SF Cave Creek Plaza sells for $2.55M

Cave Creek Plaza
by in AZRE Magazine | Retail

The Cave Creek Plaza was sold for $2.55 million by PWDAF Bell and Cave Creek LLC to DMC Investments LLC, according to the brokerage firm that worked on the deal. The 21,219-square-foot retail shopping center located at 16806-16872 N. Cave Creek Rd. & 2301-2313 E. Bell Rd. was initially built in 1978. The plaza is shadow-anchored… Read More →

Tucson Raising Cane’s sells for $4.15M

Tucson Raising Cane's
by in AZRE Magazine | Retail

Tucson’s first Raising Cane’s location was sold for $4.15 million to Leal 2002 Family Trust by Phoenix-based Eisenberg Company, according to brokers who worked on the deal. The property is located at 6352 E. Broadway Blvd. in Tucson, and the sale was a record low CAP rate for a Raising Cane’s in Arizona. The single-tenant… Read More →

Promenade Scottsdale will undergo redevelopment, redesign

Promenade Scottsdale
by in AZRE Magazine | Retail

The Promenade, located at Scottsdale Road and Frank Lloyd Wright Boulevard is set to undergo a two phase façade redesign and redevelopment starting this month. Phase one includes the construction of a three building pad on the southwest corner of the property that formerly housed Fox Sports Grill. The new pads will bring a mixture… Read More →

Retail Center at 19th Avenue and Osborn Road sells

19th avenue and Osborn Road
by in AZRE Magazine | Retail

The former Bayless Shopping Center in Phoenix, near 19th Avenue and Osborn Road, was sold for $1.74 million to CVP-19th & Osborn LLC by The Ireland Family Trust, according to Commercial Properties Inc./CORFAC International (CPI). The new owners plan to renovate the 30,000-square-foot shopping center that was built in 1950 and owned by Bayless Investment and Trading… Read More →

Park West retail center sells for $34.45M

Park West
by in AZRE Magazine | Retail

The 46-acre Peoria retail center anchored by a 14-screen Harkins Theatre, Park West, sold to an investment firm for $34.45 million, according to Cushman & Wakefield. The retail center is located at the northwest corner of Loop 101 and Northern Avenue in Peoria, and has many upscale tenants like Flemings Steakhouse, BJ’s Brewhouse, Grimaldi’s Pizza and… 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 →

Mesa retail center near U.S. 60 sells for $4.55M

by in AZRE Magazine | Retail

A 30,195-square-foot Mesa retail center anchored by a Safeway, located at Val Vista Drive and Southern Avenue,  was sold for $4,550,000 by Pac West Land LLC. Arizona Partners purchased Stonebridge Shopping Center, which was 69 percent occupied at close of escrow. Andrew Harrison and Ari Spiro at ORION Investment Real Estate represented both the buyer and… Read More →