Commercial Real Estate & Business News – January 26, 2015

Generation Y Prefers Suburban Home Over City Condo

One of the hottest debates among housing economists these days isn?t the trajectory of home sales, but whether millennials, those born in the 1980s and 1990s, want to remain urbanites or eventually relocate to the suburbs. Some demographers and economists argue that the preference of millennials, also called Generation Y, for city living will remain long lasting. And surveys of these young urban residents have tended to show… Read more »

Ground Broken On Mesa Riverview Office Project

Lincoln Property Management broke ground on the Class A office space in Mesa Riverview, which it announced back in June. The development, now called Waypoint, is located at 1138 Bass Pro Drive and is scheduled to move in its first tenant, the headquarters of American Traffic Solutions, along with some 500-plus jobs, in November… Read more »

Fry’s-Anchored Shopping Center Slated For Mesa

A new shopping center is headed to Mesa following the acquisition by a retail developer of a parcel of land. Brown Group this month closed on the vacant land at the northwest corner of Guadalupe and Signal Butte roads in Mesa. The developer has plans to construct Mulberry Marketplace, a shopping center to be anchored by a Fry’s Food & Drug store… Read more »

Tanger Expansion Set To Be Completed By Super Bowl Weekend

Tanger Outlets is expanding again – just in time for the Super Bowl. Construction has already started at the southwest corner of the factory outlet shopping mall for a mystery anchor tenant, which reportedly will be a major high-end retailer. The shopping center owner pulled a permit last month at Glendale City Hall for a $1.4 million construction project that occupies 29,533 square feet. With the four stores that opened in November… Read more »

Mesa Farmland To Develop After 30-year Wait

After 30 years of waiting, a 21-acre farm lot along the Superstition Freeway in south-central Mesa appears finally headed for development, this time as a commerce park instead of the auto mall originally envisioned in 1985. Development plans for the Metro East Valley Commerce Center, with four office/industrial buildings and nearly 350,000 square feet, went before Mesa’s Planning and Zoning Board this week… Read more »