Commercial Real Estate & Business News February 18, 2019

Nationwide Realty Investors Announce Plans for Cavasson, $950 Million Mixed-Use Development in Scottsdale
Nationwide Realty Investors announced today that its 134-acre mixed-use development in Scottsdale, Arizona will be named Cavasson. The initial phase of the project, which will break ground in 2019, will include several commercial office buildings including the new 460,000-square-foot regional headquarters building for…»
Valley Office Project Deliveries to Reach 5-Year High in 2019
Most office projects under construction in the Valley, including notable developments in some of the most desirable submarkets, are scheduled to come online in 2019 – the highest square footage of deliveries in the past five years. Much of the new space is already spoken for, said Bryan Taute, executive vice president for…»
Local Developers Seek to Transform Site of Phoenix’s First Mall Into Live-Work Mecca
For the first time in decades, there are signs of resurgence at the site of Phoenix’s first shopping mall. A joint venture of Peoria, Arizona-based Plaza Cos. and Tucson’s Holualoa Cos. announced this week they plan to begin construction in the spring on the first phase of redeveloping the Park Central Mall, an open-air shopping center that…»
Stream Data Centers Buys 157 acres in Goodyear to Create Major Tech Campus
Stream Data Centers, an industry leader in providing premium data center solutions, announced today that it has acquired a 418,000-square-foot facility on 157 acres of land in Goodyear, Arizona, where it will establish a data center campus for hyperscale and enterprise customers in the Greater Phoenix region. Initially, Stream will…»
Is the Airport Area Emerging as Phoenix’s Top Office Market?
The Airport Area in Phoenix is growing rapidly. New research from Colliers International shows that the office vacancy rate fell 9.3% in 2018, down to 23.4%. Phoenix has experienced tremendous growth in recent years, and Tempe has become the most coveted office submarket in Phoenix. Now, the Airport Area is benefiting from…»