New to Market Archives

Hotel coming to First and Polk Streets in Downtown Phoenix

Hotel
by in AZRE Magazine | Construction | Hospitality

Development has started on a 210-room, 11-story Hampton Inn & Suites in Downtown Phoenix, near the ASU Downtown Campus, according to an announcement from Mortenson. The hotel is expected to be completed in the summer of 2018, and is located at the intersection of First and Polk Streets. PK Architects and Design Force are the… Read More →

Gilbert apartment complex joins ‘smart home’ movement, but will the trend take off?

smart home
by in AZRE Magazine | Multi-Family

The apartments at Vistara at San Tan Village look like many other “luxury” units available in the Valley with its granite countertops and walk-in closets. But step inside one of the Gilbert complex’s apartments, and you can control the thermostat, turn on the lights, lock the door and blast music with the press of a… Read More →

CBIZ Plaza sells in Midtown following property improvements

sales

Houston-based Boxer Property announced today its acquisition of 3101 N. Central Avenue in Midtown on behalf of a third party client. Also known as the CBIZ Plaza, the property totals 248,863 square feet of Class A office space across 16 floors and includes an adjoining 2-story garden office/retail building and a six story parking garage. Having… Read More →

Peoria Avenue office space sells for $10.55M

Peoria Avenue
by in AZRE Magazine | Office

Desert Canyon 200, a 98,761-square-foot office space located at 2421 W. Peoria Ave. in Phoenix, was sold to Scottsdale-based G2 Capital for $10.55 million, according to CBRE. The seller was REEF Desert Canyon LLC, managed by Seattle-based Washington Capital Management. Barry Gabel, Chris Marchildon, Jim Bayless and Ashley Brooks with CBRE’s Phoenix office represented the… Read More →

17 retailers expecting to close stores this year

shopping
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

Copyright: 123kikovic / 123RF Stock Photo
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 →

Report: Phoenix office market ends 2016 with ‘strong momentum’

Phoenix
by in AZRE Magazine | Office

CBRE Research released its Q4 2016 Phoenix Office MarketView report, and overall the Valley’s office market finished the year much the way it started – with strong momentum and healthy lease activity. Driven by improving economic fundamentals and steady job growth, demand from office users can be seen in the significant amount of net absorption… Read More →

Yavapai County medical office sale breaks record

Yavapai County medical office
by in AZRE Magazine | Medical

CBRE has completed the sale of Thumb Butte Medical Center, a 12,000-square-foot Class A medical office building located at 3124 Willow Creek Rd., in Prescott. The property sold for $4.5 million, or $375-per-square-foot, a new high-water mark for a medical office building sale in Yavapai County, Arizona. The building is 100 percent leased to Thumb Butte… Read More →

Sky Harbor Towers redevelopment nearing completion

Sky Harbor Towers
by in AZRE Magazine | Office

The Muller Company, in a joint venture with investment firm Harbert Management Corporation, announced that the $20 million redevelopment of Sky Harbor Towers office complex is nearing completion of its first phase. The 13.6-acre, two-building office campus located at the intersection of Interstate 10 and State Route 143 is anticipated for move in this spring.… Read More →

Construction starts on $107.652M Sagewood expansion

Sagewood
by in AZRE Magazine | Construction | Senior Living

Construction is underway for a $107.652 million expansion at the resort-like senior living community, Sagewood, near the Musical Instrument Museum at 4555 E. Mayo Blvd., in Phoenix. The expansion will add 24 estate homes, an additional assisted living facility, and an event center to the community while doubling parking, according to Stewart Ingram, executive director of… 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 →

Leasing tower at $500M Optima Kierland to open

Optima Kierland
by in AZRE Magazine | Mixed-Use

Another part of $500 million Optima Kierland project is set to open on Feb. 16, with pre-leasing underway and residents to start moving in in late April. The 10-story leasing tower, 7160 Optima Kierland, includes 150 studio to three-bedroom residences ranging from 595 to 1,795 square feet. Rental rates for 12 to 15-month leases range from… Read More →

Design-build team picked for Camelback Collective redevelopment

Camelback Collective is undergoing a $75 million office-hotel project at 28th Street and Camelback Road. (Photo courtesy of Camelback Collective)
by in AZRE Magazine | Mixed-Use

The design-build construction of the recently purchased redevelopment site at 28th Street and Camelback Road, dubbed Camelback Collective, will be led by Graycor Construction Company, according to an announcement from the developers. The redevelopment between 29th and 29th Streets on Camelback Road will feature a 120-square-foot mid-rise Class A office building and a 160-room AC by… Read More →