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Block 23, the future location of downtown Phoenix’s first grocery store, signed its first office tenant: accounting firm Ernst & Young U.S. LLP. The firm will take up 20,000 square feet in the development’s office portion and will move into the building, being developed by RED Development, in late 2019. “There’s an unmistakable energy happening right now in downtown Phoenix…»
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Heading into the holiday shopping season, many of Phoenix’s top malls are doing better than they were a year ago, thanks to fewer retail bankruptcies. In its recently released third quarter financials report, The Macerich Co. (NYSE: MAC) published how its top malls and shopping centers did during the three-month period ending in September. Macerich owns…»
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Some commercial real estate observers might be a little worked up about how office REITs might be affected by WeWork and its co-working brethren. Yet is that consternation really warranted? To be sure, WeWork-the giant of the nascent co-working sector-is gobbling up office space at a rapid clip around the country. Recent data…»
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Phoenix is among the top buy markets for industrial investment, according to new research from Real Capital Markets. The market is outpacing national activity and has a long runway a head as it was late out of the recession. Phoenix has also boasted a dynamic industrial user base, with both ecommerce and manufacturing activity. This all bodes well for industrial investors looking to…»
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With the metro boasting dynamic speculative industrial development, Lee & Associates Arizona Principal Chris McClurg explains why developers favor certain submarkets of the city. The industrial market in the U.S. is going through a boom period, as recent research from Lee & Associates shows. Core markets that dominate the industrial sector are seeing new Class A product…»
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