Commercial Real Estate & Business News – February 10, 2014

Market Trend: Phoenix’s Office Deliveries, Construction and Inventory

During the fourth quarter 2013, one office building totaling 5,200 square feet were completed in the Phoenix market area. This compares to one building totaling 68,867 square feet that were completed in the third quarter 2013… Read more

Las Aguas Redevelopment Set for McDowell Corridor

Developers in Tempe and Scottsdale could be putting on an Urban Planning 101 course for next economy residential development in the Valley. As some others continue to build last-century sprawling suburban communities, these two East Valley cities are seeing a plethora of urban infill and redevelopment applications. Current projects under review range from three multifamily infill projects on parcels of under two acres to the massive $450M USA Place in downtown Tempe… Read more

Agave Residential Infills Around Scottsdale Olive Garden

The 72-foot tall, contemporary apartments featured a stepped-back terrace faade on Scottsdale Road. Agave Residential consists of two buildings designed by a venture including The DAVIS Experience, Wilder Belshaw Architects (Addison, Tex.) and LVA Urban Design Studio. One of the buildings is a “key” footprint and the other is shaped like a lower-case “b.” The interior apartments surround private landscape courtyards with communal amenities, including a pool and barbeque areas. The buildings feature balconies and patios, some wrapping around corners of the building… Read more

Urban Infill Trend Continues with 28 Unit Aerium on Less than 2 Acres in Scottsdale

Situated on 1.4 acres southwest of Goldwater Boulevard, the three styles of single family attached homes snuggle against each side of an “F” shaped drive connecting 70th Street to 5th Avenue. The homes differ in ownership from a townhome or condominium development. The property owners will have fee title ownership of their postage-stamp parcel and both interior and exterior of buildings… Read more

Banner Completes Purchase of Casa Grande Medical Center

Banner Health has finalized its acquisition of Casa Grande Regional Medical Center, paying $87 million for the rural hospital. Banner, the state’s largest health system, had announced last month its intent to buy the Casa Grande hospital… Read more