Plans Resubmitted for SDLE Multifamily Dev.
By Tasha Anderson for AZBEX Kaplan Management Company has recently resubmitted their plans for a new multifamily development within the McCormick Ranch Center in Scottsdale. The site, located at 9375 East Shea Boulevard, is still currently zoned as Commercial Office Planned Community District and Highway Commercial Planned Community District. Kaplan has resubmitted a request to the City of Scottsdale to rezone […]
Phoenix Retail Posts Positive Net Absorption in Q3
Source: Colliers International The Greater Phoenix retail market posted positive net absorption in third quarter, despite the continued impact of the COVID-19 pandemic. Vacancy rose slightly during the quarter to 7.7 percent as the city was recognized for comparatively low unemployment and small business closures. During third quarter, Greater Phoenix posted a 1.7 percent increase in unemployment, finishing September […]
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, […]
Amazon Discussing Retail-to-Distribution Conversions
By Joe Dyton for The Broker List Mall owner Simon Property Group and Amazon are in talks to turn J.C. Penney and Sears stores into distribution centers, according to The Wall Street Journal. Both department store chains filed for Chapter 11 bankruptcy and closed stores across the country. Simon malls have 63 J.C. Penney stores and 11 Sears, according to the company’s May public filing. The number of stores Amazon […]
Glendale to Welcome Crystal Lagoons Island Resort
Source: Glendale Office of Economic Development Global entertainment and experiential leader Crystal Lagoons® has chosen Glendale for a one-of-a-kind attraction. ECL Glendale, LLC will develop Crystal Lagoons Island Resort, a mixed-use project unique to the Southwest. As a first step in the process to bring this development to Glendale, the City Council has voted to approve a […]
40th Street Quik Trip Plan Nears Approval
By Paul Maryniak for Ahwatukee Foothills News More than 18 months after homeowners in the 185-home Foothills Paseo II subdivision launched an effort to derail a plan for Quik Trip on 40th Street, the gas station giant appears all but certain to win. The city Planning Department is only a few weeks from giving final […]
Construction Output Drops Significantly
Source: Associated Builders and Contractors The U.S. economy contracted at an annualized rate of 32.9 percent during the second quarter of 2020, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Economic Analysis. Nonresidential and residential fixed investment contracted by 27.0 and 38.7 percent, respectively, while investment in nonresidential fixed structures contracted by […]
Avondale Seeking Mixed-Use Ideas
By Corina Vanek for Phoenix Business Journal The City of Avondale is seeking ideas from private developers about how to best develop 34 acres of city-owned land into a mixed-use development with office, hospitality, retail, residential and community amenities. The area, which the city has named “The BLVD,” is at Avondale Boulevard south of Interstate […]
Retail & Hospitality to Get Worse Before Improving
By Rebekah Morris for AZBEX On Wednesday, July 22, 2020, BEX held a panel discussion regarding upcoming retail, hospitality, and entertainment projects in the Valley and beyond. Participants included Jeff Mills, Project Executive for PENTA Building Group, Dave Sellers, President & CEO of LGE Design Build, and Aaron Studebaker, Community Development Project Manager for Salt River Pima-Maricopa Indian Community (SRPMIC). The discussion was moderated by Rebekah Morris, […]
Flagstaff P&Z OK’s Multifamily Mixed-Use Project
By Tasha Anderson for AZBEX An undeveloped, forested 13.65-acre site at the NWC of Fourth Street and Butler Avenue in Flagstaff may become the site of a new horizontal multifamily mixed-use development. The owner, Flagstaff at 4th, LLC, also shown as Caliber Companies on the documents submitted to the city, is requesting to rezone the site, which is bounded to the north […]