Colangelo-led JDM Partners hires co-CEO, eyes Sun Belt expansion
JDM Partners, the real estate acquisition and development firm led by Jerry Colangelo, appointed Torry Berntsen as co-CEO, who will serve alongside co-CEO and founding partner Mel Shultz, the company announced Monday. The company owns high-profile properties around the state and country, including the Wigwam Resort, Arizona Biltmore Golf Club and Marina Heights in Tempe. It is also the asset manager for the long vacant former Chase Tower in downtown Phoenix, and led the development of both Chase Field and the Mortgage Matchup Center…»
Phoenix office-to-dorm conversions could tackle housing affordability, revitalize downtown
Converting vacant high-rise office buildings into dorm-style living for adults could be key to tackling housing affordability struggles while also helping revitalize Phoenix’s downtown, according to a report from Gensler Such projects could also present an attractive opportunity for developers who may be wary of traditional office-to-apartment conversion projects, as they offer quick speed to market and lower development costs, the report concluded. “You can do one of these conversions and bring homes online, these new micro apartments, in about…»
Rising US office leasing still remains below pre-pandemic pace
Leasing volume in the U.S. office market ticked up in the third quarter, according to preliminary estimates, but remains just shy of its pre-2020 norm. The total square footage leased on new agreements — excluding renewals — is estimated to have reached between 100 million and 110 million square feet, or about 1.2% of inventory. While this marks a modest increase over recent quarters, it still trails the quarterly average of 115 million square feet recorded between 2015 and 2019. A closer look at the data reveals that small lease sizes continue to weigh on overall…»
Diversified Partners brings $50 million Williams Station to Laveen
Diversified Partners, one of Arizona’s leading real estate brokerage and development firms, has announced plans for Williams Station, a new entertainment-anchored development coming to the northeast corner of Loop 202 and Dobbins Road in Laveen. The $50 million project will feature a mix of retail, dining and entertainment uses in a walkable, desert-inspired setting that celebrates the area’s Southwestern heritage. Named in honor of the Williams family, the longtime owners of the property, Williams Station will reflect the authentic character of Laveen…»
How Northern Arizona is becoming a hot spot for development
Northern Arizona is beloved by many Arizonans as a shaded retreat from the desert heat, where Ponderosa pine trees and small-town charm define daily life and weekend trips. In recent years, the region, stretching from Flagstaff’s high-altitude innovation corridor to the fast-growing communities of Show Low, is turning its attention to making a larger impact on Arizona’s economic landscape. Strategic investments in infrastructure, housing and workforce development are helping Northern Arizona transition from a quiet getaway into a dynamic hub…»