shopping center Archives

Construction employment stalls in August

by in Construction

Construction employment stagnated in August, while the industry unemployment rate fell and a majority of companies reported difficulty finding workers, according to an analysis of new government data and an industry survey by the Associated General Contractors of America. Association officials called for education and immigration reform measures needed to ensure an adequate supply of… Read More →

Cooper, Cardinal and Company sell apartment complex

by in Business News

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, recently closed the transaction for Rossmore Apartments, an 26-unit multi-family community located in Glendale, Arizona near Westgate City Center and Historic Glendale District. The sale price of $635,000 represents a capitalization rate of 7.10% on Proforma income. It equates… Read More →

De Rito Partners Announces Recent Transactions

SanTan Village Furniture Center photo - August deals
by in Business News

New bike shop opening in Tempe The Pedal Bike Shop signed a lease for 3,763 square feet at 405 W. University Drive, near the Arizona State University campus. The shopping center is located at the southeast corner of University Drive and Wilson Street in Tempe. De Rito Partners’ brokers John Palmieri and Chris Corso represented… Read More →

Metro North Corporate Park Signs 2 New Leases

by in Business News

Metro North Corporate Park recently signed the following two new Leases at their 13450 N. Black Canyon Highway facility in Phoenix, Arizona. The State of Arizona signed a 30,000 s.f. five-year Lease and will be utilizing the space for its Department of Economic Security – Child Protective Services Division.  The space will be used primarily… Read More →

Construction Spending Rises 0.6 Percent in July

Bernards & Construction

The nation’s builders were busy in July as construction spending increased 0.6 percent to $900.8 billion—the largest upswing in four years—according to the Sept. 3 report by the U.S. Commerce Department. Nonresidential construction spending also rose 0.6 percent in July, but is down 0.8 percent compared to one year ago. Private nonresidential construction spending grew… Read More →

Tucson Spectrum Shopping Center Sold To Investment Trust For $125.4M

Tucson Spectrum
by in Brokerage | Business News

The Tucson Spectrum Shopping Center sold to a publicly-traded investment trust for $125.4M. DDR Corp. purchased the 709,811 SF and seven developable finished retail pads of the Phase II portion of the regional retail center located at Irvington Road and Interstate 19. Price per square foot for this transaction was calculated at $177.00. Tucson Spectrum… Read More →

Luxury At UltraLuxe Scottsdale Theater

luxury movie theater lobby
by in Around Arizona | Events

Going to the movies will never be the same thanks to the newly remodeled luxury theater UltraLuxe, owned by San Diego-based UltraStar Cinemas. Located on Indian Bend Road and the 101 in Scottsdale, the renovation of the former United Artists theater was completed by DeRito Partners, an Arizona brokerage firm specializing in retail. The grand… Read More →

Arizona’s Medical Marijuana Proposition Passes, But Where Will The Dispensaries Go?

Medical Marijuana Where Will The Dispensaries Go

Arizona voters made history again this month, narrowly approving Proposition 203, the ballot initiative allowing one medical marijuana dispensary for every 10 pharmacies in the state (which translates to about 120 statewide). Under Prop. 203, patients suffering from a wide range of painful medical conditions will be able to buy small amounts of marijuana from… Read More →

The Future Of Shopping Centers


In the U.S. and around the world, the recession is forcing shopping center developers and retailers to re-think the design of the places where we spend our money. Some say the very nature of shopping has changed. Recently the International Council of Shopping Centers held a meeting of its North America Research Advisory Task Force… Read More →

Best of the Best Awards 2009: Retail

Scottsdale Fashion Square - Best of the Best Awards 2009 presented by Ranking Arizona
by in Events

Retail Honoree Shopping Centers Scottsdale Fashion Square Scottsdale Fashion Square is the premier luxury center in the Southwest, attracting visitors who seek elegance, quality and sophistication. An unparalleled retail experience, Scottsdale Fashion Square has a unique style and atmosphere that make it Arizona’s epicenter of elite and exclusive brands. Comprised of more than 225 shops… Read More →

Jeff Roberts – Vice President Of Real Estate Development At Opus West

Jeff Roberts Opus West

About 10 years after its Phoenix headquarters opened in 1979, Opus West came up against a major recession in the Valley. It survived that test and is weathering today’s economic downturn with the same tactics. A division of the Minneapolis-based Opus Group real estate development company, Opus West is going head-to-head with Arizona’s moribund economy… Read More →