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 […]
Hines Announces New 2-Bldg. W. Valley Spec. Project
Source: Hines Hines, with funds managed by Oaktree Capital Management, L.P., has announced they have closed on the property for the future development of two speculative industrial buildings, each 569.5KSF in size, in Glendale. The project, located just off Loop 303 between Glendale Avenue and Bethany Home Road, will be known as G303 — short for Glendale 303. G303 will be a two-phase state-of-the-art industrial/logistics park, whose first phase will consist of 569.5KSF and feature 40’ clear height and 50’ by 56’ column spacing with 60’ […]
Experts Tout a Hot Arizona Market at Forecast Event
By Peter Madrid for Institute of Real Estate Management Greater Phoenix Chapter The theme of the 13th Annual IREM-CCIM Economic Forecast was “The Real Scoop.” Judging by the comments of economists and industry panelists, the message that resonated was “Phoenix and Arizona are on fire.” “Last year we talked about being late in the game […]
George Oliver Announces $53M Redev. Project
Source: George Oliver Phoenix-based developer George Oliver has completed a $38.8M, two-building acquisition and will invest almost $14M in additional capital to bring a new creative office portfolio to the heart of downtown Chandler. Rebranded to The Alexander and The Johnathan, the buildings will be named after Chandler namesake Alexander Johnathan (A.J.) Chandler. “There is […]
Phx Industrial Pipeline Reaches 10-year High
Source: JLL According to the Q3 Industrial Insight report from the Phoenix office of JLL, metro Phoenix now has more than 10MSF of industrial space under construction – the highest level of year-to-date construction activity since 2007. Despite still-rising construction costs, the JLL report cites in-migration and a growing pool of skilled labor as key […]
Phx Hits 6 Years of Positive Net Office Absorption
Source: JLL The Phoenix office market has achieved 24 straight quarters – or six straight years – of positive net office space absorption, according to the JLL Q2 Phoenix Office Insight report. At the same time, vacancy has decreased by 11 basis points, marking its lowest level in almost 12 years. According to JLL, the […]
PHX Rates Well for Office Fit Out Costs
By Roland Murphy for Arizona Builder’s Exchange JLL Project and Development Services recently released its U.S. and Canada Fit Out Guide: Office Cost Benchmarking Report, and Phoenix rates well compared to most other markets. For the purposes of the study, JLL assigned “fit out” guidelines as a space “in its second generation and will be […]
Experts Weigh in on State of Development
By Roland Murphy for Arizona Builder’s Exchange Four commercial real estate and development leaders gave their predictions for what lies ahead in 2018 at Valley Partnership’s Friday Morning Breakfast program, Jan. 26. Following a brief address by Republican U.S. Senate candidate, and current congressional representative, Martha McSally, moderator Mark Detmer, managing director of JLL, introduced […]
Marina Heights Sale Affects Q4 Office Market
By AZBEX Staff for Arizona Builder’s Exchange Phoenix’s office market is in its fourth year of consecutive annual absorption gains, and the area promised to see an added boost in high profile Class A and “Trophy” assets, as evidenced by the recent $928M sale of the 2MSF, five building Marina Heights – State Farm campus […]
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 […]