Industrial

New Industrial Facility Expected To Draw Aerospace, Defense Business To Mesa

Via azbusinessdaily.com The city of Mesa recently broke ground on a 150,000-square-foot speculative industrial facility in the Falcon Field District, which it hopes will draw significant aerospace and defense businesses. The Longbow Gateway One is slated to be complete by January and anticipated to bring at least 175 new jobs. The facility will be adjacent to Boeing’s 2 million-square-foot manufacturing facility at Falcon Field Airport and the Loop 202. “Longbow

Newmark Secures $151M In Financing For 30-Property Industrial Portfolio In Arizona

Via rebusinessonline.com PHOENIX — Newmark has secured $151 million in financing for a 30-property industrial portfolio in Arizona. The portfolio contains more than 4 million square feet of space occupied by more than 1,000 tenants. The 15-year non-recourse loan features a rate below 4 percent. The portfolio is a mix of light industrial / manufacturing buildings with small to medium bay depths. The properties are located in Phoenix, Tempe, Mesa,

AZ Real Estate Outlook

Via azbigmedia.com A recent survey of commercial real estate brokers shows the market is poised for a continued slow and steady recovery, for at least another six months. The latest survey conducted by ASU’s W. P. Carey School of Business reflects changes in attitude now that the Presidential election is over. Responses show confidence has returned. “There are a number of people who believe that the new administration is going to give us 24

Via washingtontimes.com The southern Arizona city of Casa Grande is taking steps to address problems associated with thousands of unfinished lots, which are often known as “zombie developments,” where construction came to a standstill after the housing market collapsed. The city Planning and Zoning Commission is seeking a change to city code that extends the amount of time developers have to complete streets, sidewalks and water and sewer systems from

Scottsdale Industrial Facility Sells For $285k

Via azbigmedia.com A Scottsdale flex/industrial condo facility near the Loop 101 and Bell Road sold for $285,000 to an individual buyer, Charles Comolli, Jr., according to ORION Investment Real Estate, the brokerage firm on the deal. ORION’s Nick Miner, represented both the buyer and the seller, OMF Holdings LLC, in the deal. The facility, 90th & Bahia Business Park Condos #105, is near the Bahia Development. The building broke ground in mid-2015. This specific

Nonresidential Construction Is A Bright Spot In Jobs Report

azbigmedia.com The nonresidential construction sector added 13,300 net new jobs for the month, while the residential sector lost 7,600 net jobs. “While today’s jobs report will be viewed primarily as a disappointment, nonresidential construction remains a bright spot, adding 13,000 jobs,” said ABC Chief Economist Anirban Basu. “Nonresidential construction’s growth is impressive given March’s colder weather, but it represents a slowing from the first two months of the year, when

6 things to know when developing on tribal land

Via azbigmedia.com by Jesse A. Millard Developing on tribal land can be a complex process with many moving parts. Developers will have to work with the federal government, its (slow) speed, regulations and the rules and laws of the tribe to make something happen. Pilar Thomas, of counsel at Lewis Roca Rothgerber Christie’s tribal lands practice group, says there are exceptional development opportunities on tribal lands, and developers should be patient,

Phoenix industrial report: total vacancy remains unchanged

Posted April 3, 2017 by AZRE The Phoenix industrial real estate market started the year with strong leasing activity, increasing development and steady rental rates. Despite 1.6 million square feet of positive absorption, new deliveries of over two million square feet caused vacancy to remain unchanged at 9.8 percent. Kidder Mathew, an independent commercial real estate firm, expects increased competition for space and higher rates to continue throughout 2017, in spite

Discovery Triangle Development Corporation Names CEO

Posted March 28, 2017 by AZRE Via azbigmedia.com Alisa Lyons (Photo courtesy of Discovery Triangle Development Corporation) The Discovery Triangle Development Corporation, a public/private partnership that works to bring more investment in the areas between Downtown Phoenix and Tempe along the light rail, names its new CEO to succeed the organization’s founder. Alisa Lyons of SLOAN LYONS Public Affairs will succeed Don Keuth as CEO. Keuth passed away earlier this year

Solar Junction moves to Tempe

An entity owned by California-based Solar Junction, a solar cell manufacturer, purchased a warehouse in Tempe with plans to move Solar Junction operations to the facility near 48th Street and Southern Avenue, according to Lee & Associates, the brokers on the sale. Via azbigmedia.com Huntington Geneva LLC, a holding entity for the San Jose-based Solar Junction, acquired 2507 W. Geneva Dr. (19,401 square feet) and 2502 W. Huntington Dr. (19,450