phoenix Archives

Report: Phoenix posts $4.97 billion in apartment sales in 2016

phoenix-suburbs-v2
by in AZRE Magazine | Multi-Family

By all accounts, the Phoenix MSA multifamily market had an absolute banner 2016 investment year fueled, in large part, by both robust jobs and population growth. On the jobs front, Phoenix area economic development officials worked overtime in luring a whole host of corporate/regional office relocations, tech/manufacturing company openings and existing business expansions. Top job… Read More →

How has Phoenix lost its ‘low-cost alternative’ label?

Copyright: f11photo / 123RF Stock Photo
by in AZ Business Magazine

For a long time, Phoenix was touted as the low-cost alternative for companies looking to relocate or expand. While Metro Phoenix still competes heavily on cost as an advantage, the Valley offers so much more value to companies – a skilled workforce, strong communities, public-private partnerships, the leading university for innovation for two years in… 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 →

LGE Design Build completes Stone Collection offices, showroom

LGE Design Build
by in AZRE Magazine | Construction

LGE Design Build completed construction on a showroom for The Stone Collection, a wholesaler of natural stone slabs and other premium hard surface materials in Phoenix. The Stone Collection’s new 100,000-square-foot building, located at 4101 S. 38th St. in Phoenix, features a 12,500 square-foot, showroom that includes a dedicated gallery for viewing translucent semi-precious stones, collaborative… Read More →

Zerorez wraps up year of giving Valleywide

justin-hardy-controller-for-zerorez-of-phoenix-with-volunteers-and-gilbert-pd-and-gilbert-fire-department

Zerorez of Phoenix, a locally owned small business that specializes in carpet, tile and grout, upholstery, area rug, hard surface and mattress cleaning as well as pet odor treatment, helped make the holiday a little brighter for Sunshine Acres Children’s Homes in Mesa in recent weeks, as nearly the entire staff volunteered its time to… Read More →

Hines buys Southwest Industrial Center for $47.3M

Southwest Industrial Center
by in AZRE Magazine | Brokerage

Hines, the international real estate firm, acquired the Southwest Industrial Center from Hillwood Property Trust for $47.3 million. The  Class A industrial park is located in the heart of the Southwest Valley submarket in Phoenix at Buckeye Road and 75th Avenue. The project consists of a 684,000-square-foot, 32-foot clear logistics warehouse and an adjacent development parcel capable of accommodating a… Read More →

Phoenix sees decline in consumer spending growth, report shows

123rf.com: qvist

A recent report on the Local Consumer Commerce Index for August 2016, shows that Phoenix is among 12 U.S. cities in the report to see a decline in consumer spending growth with a 1.68 percent decline in growth. The JPMorgan Chase Institute Local Consumer Commerce Index  reports that all but three of the 15 major… Read More →

Phoenix Sky Harbor debuts modernized Terminal 3

t3-level-4

Phoenix Sky Harbor Airport just became friendlier and more efficient.  On December 5, Phoenix Mayor Greg Stanton and members of the Phoenix City Council rolled back temporary construction walls to officially open the first phase of the newly modernized Terminal 3.  The updated terminal offers spectacular views, an abundance of natural lighting and a more efficient… Read More →

Capitol Lofts starting at $165K coming to Downtown Phoenix

jpeg
by in AZRE Magazine

Loft living doesn’t have to be expensive. That’s what the developers of Capitol Lofts believe for their new 65-unit deluxe condominium community planned for 901 W. Washington Street in Downtown Phoenix. Starting at $165,000 and ranging from 571 to 869 square feet, the contemporary new residences are designed to offer affordable housing in a thriving… Read More →

Corporate Center returns to market for resale with full occupancy

Corporate Center is a 2-story, Class-A office building located in the heart of the Metrocenter submarket, alongside Interstate 17. (Photo by Cohen Equities)

Cohen Equities acquired Corporate Center in January of 2016 with 50-percent vacancy and has brought the property to full occupancy in under a year. Now it plans to resell the asset. The national real estate investment firm pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. After bringing the… Read More →

Insight Global signs 12,460 SF lease in Phoenix

24th At Camelback II (Photo courtesy of Hines)
by in AZRE Magazine | Office

Hines, the international real estate firm, negotiated a 12,460-square-foot lease at 24th at Camelback II in Phoenix for Atlanta-based staffing services firm Insight Global. Insight Global will occupy the eighth floor of the 11th-story Class A building, which offers abundant glass exposure and mountain views, beginning in early 2017. Hines is developer, owner and property manager of the 306,877-square-foot building… Read More →

Phoenix lands at No. 2 on CBRE’s annual Tech-Thirty Report

Copyright: markskalny / 123RF Stock Photo

Phoenix lands at number two on CBRE’s annual Tech-Thirty list, which analyzes the 30 leading technology markets in the U.S. and Canada in terms of high-tech software/services job growth. Second only to San Francisco, the Valley continues to see the strongest tech-sector job growth in North America, reporting 44.5 percent job growth and more than… Read More →

Marcus & Millichap sells 155-unit property for $10.6M

Marcus & Millichap
by in AZRE Magazine | Multi-Family

Marcus & Millichap (NYSE: MMI) negotiated the sale of Wyndham Place, a 155-unit multifamily community located in Phoenix, Arizona. The asset commanded a sales price of $10,600,000 or $68,387 for unit. Rich Butler, a senior director of Marcus & Millichap’s National Multi Housing Group and Brian Tranetzki, an associate director of Marcus & Millichap’s National Multi… Read More →

CBRE report identifies Phoenix as ‘new city of finance’

Photo: eutoch / 123RF Stock Photo

The U.S. financial services industry, faced with heightened regulations and competition for skilled labor from technology companies, increasingly is finding the workers it needs by expanding to cities like Phoenix, according to a new report from CBRE Group, Inc. In its inaugural annual report on the financial services industry, CBRE examines markets across the U.S.… Read More →