Phoenix’s Housing, Industrial Demands Are Driving Surge In Conversions
Office conversions in Phoenix are mounting as investors seek to leverage a swath of outdated buildings to meet the needs of a growing population and recovering industrial market. Since 2024, 3.3M SF of office space has been converted or demolished in metro Phoenix, more than the previous 10 years combined, according to a Cushman & Wakefield report. Another 4.1M SF of projects are proposed, making the city one of the most active conversion and demolition pipelines in the…»
What that heavy equipment at prime Phoenix intersection is building
Scottsdale-based Aspirant Development, the development arm of Empire Group, has begun construction on a mixed-use apartment and retail project at Central Avenue and McDowell Road. The developer bought the site in 2024 and began construction in June. The seller, Donnelley Financial Solutions, had long had an office building on the site, but the building was razed before the sale closed. Aspirant Development also developed the Stewart at Central and McKinley Street, which is less than a…»
1.1M SF AI Lease Pushes Glendale Industrial Campus to Full Occupancy
Lincoln Property Company, a global, full-service real estate firm with over $31 billion of assets under management, has executed two full-building leases at its 2.4 million-square-foot Luke Field development in Glendale, Arizona. Totaling over 1.1 million square feet, the commitments bring the Class A, three building, LEED certified logistics campus to 100% occupied. The new user, a leading company in the artificial intelligence sector, will occupy Luke Field’s 695,750-square-foot Building A and…»
Another semiconductor company to buy land in north Phoenix near TSMC
Taiwan-based design-build and engineering firm that serves the semiconductor industry is the latest from the industry to stake a claim to land in Deer Valley, where industry suppliers have clustered. United Integrated Services Corp., the U.S. subsidiary of a Taiwanese company, bought 29 acres for $41 million in the Mack Innovation Park, located near Seventh Avenue and Pinnacle Peak Road. The company plans to build a 480,000-square-foot facility on the land, according to…»
Glendale eyes downtown redevelopment as new city manager brings proven track record
Glendale just built out a brand-new $100 million downtown city hall complex. Its new city manager is hoping to get a redeveloped historic shopping and dining district to match. Glendale is probably best known for State Farm Stadium and its Westgate Entertainment District, but a bit further east along Grand and 59th Avenues lies its original townsite and downtown, dating back to the late 1800s. Many of the historic properties scattered around the area along Glendale Avenue sit…»