Commercial Real Estate & Business News – February 25, 2016

Want to know one of the best-kept secrets in Scottsdale? It may very well be ENVY, Deco Communities’ new eight-story luxury condominium tower in downtown Scottsdale located at 4422 N. 75th St, according to sales manager Brian Dworsky. But the 89 well appointed, high-end homes won’t stay under wraps for long, especially when word gets out about their impressive design — imagine a $47 million building with an elegant blend of New York-meets-Vegas style… Read more »
With the just-closed, $34.34 million office acquisition of Riverview Point, Harvard Investments and Lincoln Property Company (LPC) will combine new construction with existing buildings to establish a 425,861-square-foot, Class A office campus at the borders of Tempe, Scottsdale and Mesa, Arizona. The new development, branded collectively as Waypoint, will combine Harvard and LPC’s recently delivered Waypoint One Class A office building…Read more »
Hensley Beverage Co. has preleased 112,669 square feet of speculative commercial space being built near Camelback Road and Grand Avenue. Hensley is the state’s largest Anheuser Busch distributor and also distributes imported craft beer, wine and spirits. The company has 850 employees. Its chairwoman is Cindy McCain, the wife of U.S. Sen. John McCain, R-Ariz… Read more »
“Store closing” is emblazoned on black and red signs at the Macy’s Inc. location at Ridgmar Mall, where merchandise is steeply discounted and the doors are due to shut forever in early March. Like many malls around the U.S., the 40-year-old Ridgmar is at a crossroads. The rise of online shopping and changing consumer habits are battering the big department stores known as anchors that once lured shoppers to malls– leaving landlords with empty space… Read more »
Optima is introducing its next evolution of sophisticated urban living and design with the announcement of Optima Kierland, a new community featuring Optima’s award-winning architectural vision and high-rise luxury living, now being constructed at Kierland in North Scottsdale. Optima Kierland, situated on 9.5 acres at Scottsdale Road and Kierland Boulevard, showcases signature Optima architecture design aesthetics, floor-to-ceiling glass allowing unencumbered desert and mountain views… Read more »