Benchmark to Relocate HQ to Rio 2100, Tempe
By AZBEX Staff for Arizona Builder’s Exchange Following a six-month site selection process, Benchmark Electronics has announced it will establish its new corporate headquarters in Tempe’s Rio 2100 office park. In April, Benchmark announced it planned to relocate to Arizona from Texas. The design, engineering and manufacturing firm currently occupies an interim HQ space near […]
PHX Poised to Become a Data Center Leader
By AZBEX Staff for Arizona Builder’s Exchange A recently released report from CBRE notes the Phoenix area is poised to become a leader in the data center market, as reflected by steady growth in the sector in the first half of 2017. “Phoenix is a dynamic market,” said Luke Denmon, of CBRE’s Data Center Solutions […]
Chewy.com to Build 800KSF Dist. Center
By Roland Murphy for Arizona Builder’s Exchange PetSmart subsidiary Chewy.com will build an 800KSF distribution center in Goodyear, according to a recent report in Business Real Estate Weekly of Arizona. Other sites in the Valley, as well as in Las Vegas, were considered before the company settled on a nearly 49-acre parcel in the Airport […]
Hines Signs JVA for Offices at Chandler Viridian
Source: Hines International real estate firm Hines has entered into a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, as its equity partner to develop the Offices at Chandler Viridian. The Offices at Chandler Viridian is a six-story, Class A office building with 250KSF of space located at the intersection of […]
PHX Industrial: Lowest Vacancy Since 2006
Source: CBRE The Phoenix industrial market reflected strong growth and a healthy local economy during the second quarter. Net absorption increased from 1.67MSF during the first quarter of 2017 to 3.1MSF during the second quarter of the year. Meanwhile, overall vacancy decreased from 8.2 percent to 7.7 percent during Q2 2017 (its lowest level since […]
Don’t Toll the Bell for Retail Just Yet
By Roland Murphy for Arizona Builder’s Exchange Over the past couple of years, the weeping and gnashing of teeth for retail, particularly in the Big Box sector, has been nearly biblical in its intensity. A lot of that doom and gloom, however, may just be an abundance of hype and a dearth of fact. Two […]
Details Emerge on Chase $108M Purchase
Source: Business Real Estate Weekly of Arizona A search of Maricopa County records show JP Morgan Chase Bank paid $108M to buy multiple back-office buildings on 67 acres within the Discovery Business Campus in Tempe. That 136-acre business park is on the north side of Elliot Road and west of the 101 Loop (Price Freeway)… Read more at Business Real […]
1.6-Acre Residential/Office Planned on Central
Source: Colliers International in Greater Phoenix A partnership of Ryan Companies, Tilton Development Company and Hunt Investment Company has purchased 1.57 acres at the northeast corner of Willetta and Central avenues for development of a mixed-use residential and office project. The property, located just north of the Burton Barr Library, was purchased for $4.5M. The […]
Reports Show PHX Retail, Big Box Doing Well
By Roland Murphy for Arizona Builder’s Exchange The Valley’s retail sector closed out 2016 on a high note, according to recently released findings by CBRE Research. The Q4 Phoenix Retail Marketview shows the quarter experienced nearly 600KSF of positive net absorption, the most in 2016, and vacancy dropped four basis points quarter-over-quarter, ending Q4 at […]