AZ Construction Continues Growth Despite Pandemic
By Rebekah Morris for AZBEX Sales tax data available on AZEconomy.org, published by the University of Arizona Economic and Business Research Center, shows a surprising trend: construction in Arizona has risen despite the broad economic downturn as a result of the COVID-19 health epidemic. At the BEX Annual Construction Forecast event in January 2020, BEX researchers presented data that projected strong growth across the industry. Once COVID-19 hit in full […]
Rush to Place Capital Ahead of Election Expected
Source: RCM LightBox According to a new report, commercial real estate investors, brokers and lenders are expecting a potential surge of activity in Phoenix and other U.S. markets in the first half of 2020, ahead of the U.S. election. Participants in the 2020 RCM LightBox Investor Sentiment Report noted the strong market fundamentals, available investor capital, […]
SkyBridge Creates Opportunity to Grow Other Sectors
By Erin Thorburn for AZ Big Media Erik Lee, executive director for North American Research Partnership, summarizes the impact very succinctly. “SkyBridge is the most consequential Mexico-Arizona business project in this part of Arizona,” Lee states emphatically. SkyBridge marks the nation’s first inland air cargo hub to house a joint United States-Mexico customs facility. The recent groundbreaking […]
2020 CRE Outlook: How Phoenix Shapes Up
By Steve Burks for AZ Big Media Consistency may be boring, but when it comes to the commercial real estate outlook and the Greater Phoenix commercial real estate industry, no change is good for business. The United States is in what most economic experts feel are the latter stages of a growth cycle that is […]
PHX Industrial Develop. Has Found a Perfect Balance
By Kelsi Maree Borland for GlobeSt.com The Phoenix industrial market has found its perfect balance. The market has one of the most active new construction pipelines in the nation for industrial product, but the development isn’t in danger of surpassing demand. “The most remarkable factor of the Phoenix Industrial Market has been consistency,” Cooper Fratt, […]
Light Industrial Outshines Mega-warehouses
Source: CBRE Even as the growth of e-commerce has lifted the entire industrial & logistics real estate sector, a sweet spot has emerged: warehouses smaller than 120KSF, according to a new report from CBRE. CBRE analyzed U.S. industrial buildings by size and found that “light industrial” properties outperformed the other property types over the past […]
How Downtown Phoenix Created ‘An Innovation Core’
By Fara Illich for DTPHX Since 2016, technology and coworking companies have leased 620KSF of office space in Downtown Phoenix – a 1.7-square-mile area that many thought would never attract tech. For decades, companies looking to open or relocate passed over downtown for places like Chandler, Scottsdale or Tempe. The popularity of suburban office parks […]
TCC Phoenix Announces Axis Raintree
Source: Trammell Crow Company Trammell Crow Company (TCC) Phoenix has unveiled plans for its newest development, Axis Raintree. The project will include a 175KSF, three-story, Class A speculative office building with a structured garage. Construction is scheduled to begin in October 2019 and will be completed in 4Q 2020. TCC acquired the 8.24-acre site, located […]
Loop 202 Submarket Chosen for Commerce Park
Source: Trammell Crow Company Trammell Crow Company (TCC) announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700KSF. The site is located on the Gila River Indian Community (GRIC), at the SWC of Loop […]
Two New Holiday-Flagged Hotels Planned in AZ
By Roland Murphy for Arizona Builder’s Exchange Despite ups and downs around the country due to a variety of economic and environmental factors, the hotel development sector in Arizona continues to remain comparatively strong, as evidenced by two new planned Holiday Inn-related developments around the state: A Holiday Inn Express in Phoenix and a traditional […]