Commercial Real Estate & Business News May 30, 2019

Socially Focused Apartment Project Breaks Ground Near Downtown Phoenix As Vacancies Drop Developer Property Markets Group just broke ground on the first phase of a 20-story apartment, retail and office project in Phoenix, where increasing jobs are boosting the rental market and reducing vacancies. Property Markets said it is building the 616-bed property in two phases at 200 W. Monroe St. The project, called X Phoenix, is part of…»
Seven Phoenix-area Target Stores to be Remodeled: Here is What to Expect
Some Target stores in the Valley are about to get a face-lift. The company announced Monday that seven stores in the Phoenix-metro would undergo renovations. The stores are in Ahwatukee, Gilbert, North Scottsdale, Paradise Valley, Peoria, Queen Creek, and Tempe, according to the news release. While renovations…»
Graycor Completes Amazon Building in Phoenix
Graycor Construction Company has completed the final phase of 10 West Logistics Center, a Class A master planned bulk distribution park developed by New York Life Real Estate Investors to meet record-high logistics and e-commerce demand in southwest Phoenix. Wentworth Property Company serves as the owner’s representative on the project. Totaling…»
Mountain View Medical Plaza Redevelopment Hinges Upon Perception of Paradise Valley Compromise
The Paradise Valley Planning Commission is nearing its June deadline to make a recommendation on the Mountain View Medical Plaza, meanwhile neighboring residents are attempting to address issues associated with the proposed expansion. On May 21, the Planning Commission discussed the Mountain View Medical Plaza’s request for a Special Use…»
NAIOP Arizona Applauds Successful Legislative Session for Commercial Real Estate
Rep. Ben Toma, R-Peoria, led the charge to dramatically curtail the misapplication of the Speculative Builder Tax by cities and the Arizona Department of Revenue. These important changes went into effect on April 1 and included a prohibition on applying the tax to redevelopment projects, tax credits for payment made by prior property owners, deduction of…»