Phx: Leading Emerging Industrial Mkt
By Roland Murphy for Arizona Builder’s Exchange A recently released report form Colliers International – “Top 10 Emerging U.S. Industrial Markets to Watch in 2018” – named the Phoenix area as a national leader. “The momentum that built in the Greater Phoenix industrial market the past few years is forecast to carry over into 2018, […]
Vision Detailed for The Farm at Los Olivos
By Dominic Armato for The Arizona Republic Food is universal. Everybody eats. But to Matthew Moore and Aric Mei, something vital to the human experience is being lost in America’s urban centers. “There deserves to be a place in the middle of a very large, dense, urban sprawl where you can take family, take friends, take […]
PHX OKs $125K for Suns Arena Reno Research
By Jessica Boehm for The Arizona Republic Phoenix will pay an additional $125K for study renovations to the Talking Stick Resort Arena despite council members’ concerns they haven’t received a report on the topic in more than nine months. In February, the City Council voted to pay Barrett Sports Group, a sports-business consultant, $75K to study […]
Data Center Plan Advances
By Roland Murphy for Arizona Builder’s Exchange Plans for the McDowell Road Data Center – on nearly 98 acres at the SWC of 40th Street and McDowell Road – took a step forward last week as the City of Phoenix’s Planning Commission approved the project’s Planned Unit Development request. Owner Phoenix Retail Co., LLC bought […]
PHX Releases 1st Progress Report on T2050
By Roland Murphy for Arizona Builder’s Exchange The City of Phoenix has released its first progress report detailing plans launched and goals met during the Transportation 2050 initiative’s first 18 months of operation. T2050 was approved by voters in August, 2015 to fund aggressive expansion for the city’s long-term transportation goals. The city sales tax […]
U.S. Hotel Pipeline Up YoY, PHX Doing Well
By Roland Murphy for Arizona Builder’s Exchange Even though hotels across the country aren’t quite feeling optimistic enough about the market to raise prices much at the moment, the pipeline for the sector is showing respectable growth. According to the September 2017 Pipeline Report from specialty data and analytics firm STR, nationwide there are more […]
Phoenix Q2 Office Sales Volume Doubles Y-o-Y
By Ioana Neamt for COMMERCIALCafé The Phoenix office market was an attractive scene for investors during the second quarter of 2017, with 20 notable deals closed for a total of $513M. The average price/SF for office buildings trading on the market is holding steady, roughly on par with the average of the past five years, according to […]
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 […]
PHX Must Start Over on Roosevelt Row District
By Brenna Goth for The Arizona Republic A Maricopa County Superior Court judge has rejected Phoenix’s attempt to sidestep an Arizona law that negates efforts to turn Roosevelt Row into a branded district. The ruling follows controversy over a proposal to area tax property owners. The money would pay for extra services like beautification and […]
Fourth Time a Charm for 1.5-Acre Site in Phx
By Rebekah Morris for Arizona Builder’s Exchange The City of Phoenix has released a development RFP for a prime parcel and is looking for the market to bring creative ideas on how to best serve the community and develop the site. The property is close to Roosevelt Row, one of the top-rated Arts Districts in […]