Commercial Real Estate & Business News October 22, 2019

Surge in Valley Job Growth Fuels Office Demand in Q3, Report Says Since July, more than 14,000 new jobs have been announced in the Valley, fueling demand for office space in submarkets that already were some of the area’s hottest. About 40% of the new jobs announced during the quarter will be concentrated in Scottsdale and Tempe, according to Colliers International research. The largest…»
1.35-Million-Square-Foot Union Breaks Ground in Mesa
Lincoln Property Company (LPC), Harvard Investments, dignitaries from the City of Mesa and business and community leaders joined today to celebrate the groundbreaking of the first office building at Union, a new project that – at build out – will total 1.35 million square feet in four Class A office buildings at the confluence of Mesa, Tempe and…»
‘People First had to Believe in Downtown’: After Long Effort, Phoenix’s Urban Core Gets its First Supermarket
Andy Lucich has lived in downtown Phoenix for almost a decade and has worked in the area for the past five years. He didn’t always own a car during that time, which created problems. “One of the biggest challenges was getting groceries,” he said. “I sometimes had to call Uber if getting a large order or I had to take light rail. “Some of those…»
Downtown Chandler Lands $53M Redevelopment Project
Phoenix-based developer George Oliver has completed a $38.8 million, two-building acquisition and will invest almost $14 million in additional capital to bring a new creative office portfolio to the heart of downtown Chandler, Arizona. Rebranded to The Alexander and The Johnathan, the buildings will be named after Chandler namesake…»
Construction Begins on 160-Unit Gramercy Scottsdale in Downtown Scottsdale
High Street Residential, the residential subsidiary of Trammell Crow Company, and its partner, Principal Real Estate Investors, announced that construction has begun on a luxury 160-unit multifamily development in the heart of Downtown Scottsdale. The five-story Class A building, known as Gramercy Scottsdale, sits on two acres of land just north of the…»