Riding the Pine: How to Manage Rising Construction Material Costs

by Chris Hundelt

Commercial building is at a high point in Phoenix, and it has never been more exciting or challenging to be in the industry. Federally imposed tariffs — some as high as 25 percent — are making waves in commercial real estate, but it is just one of many contributing factors to the rise in construction… [More]

Innovative Design Concept for Deer Valley Industrial Park

by Mike Hunter

TTR Industrial Park, a 12-acre project east of the Deer Valley Airport, is being designed with all metal buildings that have an emphasis on contemporary architectural design. The design vocabulary focuses on the clean and crisp architectural surface and qualities of metal buildings that maintain their allegiance to several benefits over other construction methods, namely… [More]

Consumer Cellular’s Big Box Move Illustrates Trend

by RaeAnne Marsh

The Great Recession of 2008 left a massive overhang of big-box retail buildings exceeding 6 million square feet Valley-wide, reports Ray Cashen of Cashen Realty Advisors. Health clubs, schools, mini storage, offices and healthcare uses have filled many of the big-box vacancies, and, he observes, as the retail market recovers against competition from online retailers… [More]

Industrial Spec

by Mike Hunter

Industrial demand remains high following a record 2017, with the Sky Harbor and Southeast Valley submarkets experiencing most of the activity since the last downturn, but demand is outpacing the current supply, spurring the adaptive reuse and modernization of existing buildings to keep up with growing demands and evolving tenant needs and to optimize the… [More]

40 Years of Change – Where the Multihousing Industry Is Headed in the Valley 

by R. Chapin Bell

Starting out as a necessary form of housing in the Valley, the multihousing industry has evolved to be a go-to choice for residents, which has helped keep the health of this industry strong. There has always been demand for apartments, but demand has risen as a result of demographic changes and as the renters of… [More]

Building Office in Perimeter Center, Scottsdale 

by Mike Hunter

A local partnership known as DBM Ventures has purchased 2.79 acres at 8399 E. Hartford Dr., within Perimeter Center in the dynamic Scottsdale Airpark submarket, with plans to develop a $9-million, 32,054-square-foot office building. Construction is slated to begin at the end of this year with occupancy scheduled for summer 2019. LGE Design Build will… [More]

Independent Living Apartments Planned

by Mike Hunter

The Wolff Company — a Scottsdale-based private equity firm and developer — has purchased property in Scottsdale, Arizona, with plans to develop a refined senior community called Revel Scottsdale. The finished property will include a commercial kitchen, dining room and bistro, resort-style saltwater pool and spa, state-of-the-art fitness center, modern club room, and media lounge.… [More]

Urban Infill Development Potential

by Ioana Ginsac

Combining a new inventory focused on vacant parcels located in central business districts (CBDs) with in-depth research on CBD construction activity as well as a 25-city survey that gauges what developments are most desirable to the local urban population, COMMERCIALCafé research shows that recent development efforts have failed to address the needs and wants of… [More]

The Opportunity Zone Program (Part 2)

by Marc L. Schultz

The Opportunity Zone Program is new federal income tax incentive program designed to encourage private capital investment in Opportunity Zones (O-Zones), which are certain designated areas throughout the United States.  Opportunity Funds (O-Funds) act as intermediaries between O-Fund investors and the actual investments in the O-Zone. O-Funds are required to hold 90 percent of their… [More]

Taking the Pulse of the Medical Office Market 

by Mike Hunter

The medical office space market slowed during the first three months of 2018. Rents fell, vacancy rose and sales of medical office properties fell off a bit. However, Colliers International anticipates this is a temporary disruption since fundamentals of the market remain strong. Vacancy in medical office buildings rose 10 basis points during the first… [More]