retail Archives

Retail big boxes remain vacant after closures

retail space avaialble sign in a window of a building
by in AZRE Magazine | Retail

The Phoenix retail big box market continues to hold back real improvement in shopping center vacancy. In the year-end 2015 National CoStar Retail Report, Phoenix ranked as having one of the worst retail vacancy rates in the U.S. Out of the 125 MSA’s the report tracks, Phoenix finished near the bottom ranking 123. With nearly… Read More →

Historic Welnick Marketplace shaped into reuse project

After the original Welnick Bros. Marketplace closed in 1951, the building functioned as covered parking for businesses in the adjacent building, an auto repair shop and warehouse. (Photo courtesy of Joyce Reiff)
by in AZRE Magazine | Construction

The historic Welnick Bros. Marketplace building in downtown Phoenix has sat vacant for the past decade. But now, developers plan to restore it as an adaptive reuse project with restaurant, retail and entertainment space. Brothers Leo and Ed Welnick built Welnick Bros. Marketplace near Van Buren Street and Fourth Avenue in 1927. They operated a… Read More →

What is the 2016 commercial real estate outlook?

Marina heights dusk(c) 2013 DAVIS
by in AZRE Magazine | In The Spotlight

When Luke Skywalker first cast eyes upon the Millennium Falcon, he was less than impressed. To him it was a “piece of junk.” Although perhaps not viewed as trash, the Phoenix economic and commercial outlook has admittedly taken a beating for some time. Much like Han Solo, however, experts see something in the slow, yet… Read More →

Shopping Malls prepare to make a comeback

rsz_metrocenter_pic
by in AZRE Magazine | In The Spotlight | Retail

If “slow and steady” is the general theme for the 2016 commercial real estate outlook, shopping centers may have a quasi-theme of “rocket boost.” With a lagging economic recovery and what most agree is as an overbuilt retail sector, where exactly will this push occur? The answer may lie in the place most worshipped by… Read More →

Amazon offers Phoenix Prime customers free 2-hour delivery

amazon

Amazon recently launched a service in Phoenix that will bring shopping to a new level. Just as Amazon lead the way a few years ago with their Prime Service which provides 2-day shipping; Prime Now joins the menu as Amazon’s next revolutionary game-changer. Prime Now allows customers to receive their orders in a few hours… Read More →

Big Deals: Retail, June 2014 – July 2014

Pecan-Promenade
by in AZRE Magazine | Brokerage | In The Spotlight

There’s no such thing as a “small” deal in this industry, coming out of a recession. However, it’s the big deals, and the brokers who make them, that make the market an interesting one to watch. In every issue, AZRE publishes the top five notable sales and leases for a period of 60 days (one… Read More →

ZELL reports recent transactions

Baudine’s Mad About Shoes, an upscale women’s shoe store, has leased 1,294 SF in La Mirada Shopping Center.
by in AZRE Magazine | Brokerage

ZELL Commercial Real estate Services, Inc., a full-service shopping center management and leasing firm based in Phoenix, announced the following retail lease transactions: BAUDINE’S MAD ABOUT SHOES TO OPEN THIRD LOCATION IN LA MIRADA IN NORTH SCOTTSDALE Baudine’s Mad About Shoes, an upscale women’s shoe store, has leased 1,294 SF in La Mirada Shopping Center… Read More →

E-commerce opens retail channels

ecommerce

It’s estimated that U.S. e-commerce sales will be $278B in 2014. By 2016, that spending will be $327B — a 62 percent increase in five years, according to Forrester, Inc. estimates. Yes, that’s a drop in the pool of the U.S. retail market (about 3 percent). However, it’s not one that brick-and-mortar retail brokers are… Read More →

CBRE completes sale of Coldwater Plaza

Coldwater Plaza_Avondale
by in AZRE Magazine | Brokerage

CBRE has completed the sale of Coldwater Plaza located at 1461 North Dysart Rd. in Avondale, Ariz. The ±10,017-square-foot shopping center commanded a sale price of $2,085,000. Joseph Compagno, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office represented the seller, a partnership between Denver, Colo.-based North Dysart SG, LLC and Scottsdale-based Coldwater Dysart Partners,… Read More →

DM Analytics introduces Tag & Sign software system

Screen shot shows desktop review screen for DM Analytics’ Tag and Sign software system for retailers. The highly flexible system supports all shelf tag types, sign types, and fonts.

DM Analytics, a leading provider of retail-focused software solutions, has added a Tag and Sign system to a comprehensive application suite that also incorporates Ordering, Receiving, Shelf Price Audit and Inventory modules. The system is ideal for supermarkets, drug stores, dollar stores, hardware, consumer electronics/appliances, furniture/home furnishings, liquor, auto parts, hobby/crafts, pool supply, and other… Read More →

Shops at Gainey Ranch announces completed renovations, new tenants

Gainey - La Prima
by in AZRE Magazine | Real Estate

The shops at Gainey Ranch has undergone renovations and taken on a fresh and contemporary look. Upgrades to the shopping center include new monument signage, exterior lighting, brighter paint and stucco finishes, new tenant signage package, Kornegay Fine Cast Planters and landscaping. Two new tenants will join La Prima Donna Italian Restaurant and Wally’s American… Read More →

Ace Hardware to open new Ahwatukee location

DesertFoothillsPlaza
by in AZRE Magazine | Brokerage

Cassidy Turley announced it has completed a 15,000 square foot lease for Ace Hardware, at Desert Foothills Plaza located at 1323 East Chandler Boulevard in Phoenix. Vice President Brent Mallonee of Cassidy Turley’s retail group represented Ace Hardware in the lease transaction. The landlord, Phoenix-based Foothills Plaza LLC was self-represented. Mallonee has been appointed to… Read More →

Raising Cane’s® Chicken Fingers Continues Its Arizona Expansion

Raising Canes, WEB

Cassidy Turley has completed a  0.83-acre (36,213 square feet) build-to-suit lease for MRG Marketing & Management, Inc., Southwest franchise partner for Raising Cane’s Chicken Fingers, at Arrowhead Marketplace, located at the northwest corner of Bell Road and 79thth Avenue in Glendale. Cassidy Turley Vice President Mark Bramlett represented MRG in its lease transaction with the… Read More →

Safeway sale creates looming cloud over Phoenix retail real estate market

Shea Scottsdale Safeway

Over the past two years, the Phoenix retail real estate market continues to improve with lowered vacancy rates and strong absorption. The one area that persists as a cause for concern is the number of vacant big boxes in the market. With the recent announcement of the impending sale of Safeway to one or more… Read More →