West-MEC CTE Program Helps Shrink Labor Shortage
America is dealing with an unprecedented shortage of skilled labor. The Department of Labor reports that while there are 7.6 million unfilled jobs, only 6.5 million people were looking for work. This is the same situation in Arizona. The industries seeing the largest talent gap are construction, healthcare and personal care, followed by computer and […]
PHX Industrial Market Surges During Pandemic
Source: Colliers International The Greater Phoenix industrial market has surged during the COVID-19 pandemic, driven largely by the country’s increased use of e-commerce and elevated grocery shopping while restaurants were closed. Completion of new industrial projects in 2020 has been the strongest year in more than a decade. Arizona’s business-minded approach led to more companies remaining open during the pandemic. The Trade, […]
Office Sublease Space Up 21.8 Percent
By Les Shaver for GlobeSt.com As COVID-19 forced lockdowns across the country, the amount of vacant sublease increased in the first half of 2020, according to new figures from Cushman & Wakefield. C&W monitored activity across 83 office markets and 92 industrial markets in North America and determined sublease vacancy generally increased across the office market and minimally throughout […]
Phoenix #2 in Data Center Growth
Source: JLL COVID-19’s impact on public safety and stay-home orders drove significant demand for immediate digital connectivity around the world. JLL’s 2020 Mid-Year Data Center Outlook finds data centers’ resiliency and reliability established the sector as one of the few to perform strongly during the first half of the year. According to the report, Phoenix ranks as a top […]
224-Acre Mixed-Use Hub Proposed for Goodyear
By Tasha Anderson for AZBEX Developer, Keystone Equities LLC, is looking to transform a vacant, underutilized site in Goodyear into a master planned employment hub with office, commercial, retail, light-industrial and entertainment uses. Keystone is requesting a rezoning of approximately 223.9 acres located at the SWC of Interstate 10 and AZ State Route 303 to Planned […]
Industrial Condos Planned for Mesa
By Tasha Anderson for AZBEX Plans have recently been resubmitted to the City of Mesa for the development of a new industrial condominium project to be located at 8607 East Pecos Road. Real Estate Developer, Cavan Commercial, and partner The Kaidence Group is requesting approval of a few different applications: a rezoning of the 10.6-acre site with a PAD overlay, site plan review, preliminary […]
Boeing Plans Fabrication Center in Mesa
By Tasha Anderson for AZBEX The world’s leading manufacturer of commercial jetliners, defense, space and security system and largest aerospace company is planning to build a new fabrication center at the NEC of Greenfield and McDowell Roads in Mesa. The Boeing Company submitted plans to the City of Mesa and is requesting site plan approval and a […]
VanTrust Planning 660KSP Spec Industrial in GLDE
Source: VanTrust Real Estate VanTrust Real Estate recently acquired 76.4-acres of land at Sarival Road and Maryland Avenue along the Loop 303 corridor in Glendale. VanTrust plans to break ground in October on a 660KSF speculative industrial building to be completed in June of 2021. The site offers access to the entire Valley and provides distribution tenants with a convenient transportation corridor to […]
NAIOP Survey Finds CRE Deals Increasing
Source: AZ Big Media In the fourth monthly NAIOP survey measuring the impact of the COVID-19 crisis on the commercial real estate industry, respondents say that deal activity is improving across most major sectors of the industry, but more now expect impacts from the crisis to affect their businesses for an additional 12-18 months. “July continued a trend of positive […]
CapRock Has Major Phoenix Plans
By Kelsi Maree Borland for GlobeSt.com The pandemic isn’t deterring investment in Phoenix, at least not for CapRock Partners. CapRock has pinpointed Phoenix as a target market for industrial investment and development, and it expects the market to continue to benefit from longstanding population and job growth trends, despite the pandemic. “The demand drivers of Phoenix are very attractive […]