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Flurry of office evictions unlikely after Arizona moratorium lifts

Office

Read the original article here by Corina Vanek. The end of a Covid-19 pandemic-induced moratorium on commercial evictions for small businesses and nonprofit organizations in Arizona likely will not result in a flurry of office evictions, one Scottsdale commercial real estate executive said. “I don’t think the moratorium had a significant impact on people’s behavior,” …

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Best of NAIOP 2019: Redevelopment Project of the Year

Office

Read the original article here by Phoenix Business Journal. Image courtesy of NAIOP. Redevelopment Project of the Year Consumer Cellular at Deer Valley Consumer Cellular at Deer Valley was once a single-story Sam’s Club retail store. It was transformed into a state-of-the-art, two-story office building with a $9 million redevelopment and was completed in June …

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2018 Year in Review: Big office deals centered around key submarkets

Office

Read the original article here by Corina Vanek, Phoenix Business Journal. Some of the Valley’s hottest office submarkets were the focal point for the biggest office deals of the year.  The majority of the biggest sales — four of the top 15 — were in Tempe, the submarket with the fourth-highest rent growth in the country, …

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2018 Year in Review: Big office deals centered around key submarkets

Office

Read the original article here by Corina Vanek, Phoenix Business Journal. Some of the Valley’s hottest office submarkets were the focal point for the biggest office deals of the year. The majority of the biggest sales — four of the top 15 — were in Tempe, the submarket with the fourth-highest rent growth in the country, …

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Everest Sells El Dorado Tech Center for $39 Million

Office

Gilbert – A venture formed by Arch Street Capital Advisors LLC in Greenwich, Ct. (Craig Friedman, chairman) has expanded into the Valley by paying $39 million ($216.09 per foot) to buy a back-office building in Gilbert that is leased to Scottsdale-based GoDaddy Inc. (NYSE:GDDY). The 180,480-square-foot project, located at 2299 W. Obispo Avenue, is within …

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Office-Industrial Activity

Phoenix Office & Industrial Markets Continue to Improve

Industrial, Office

Recent Trends Phoenix Office: The office market continues to strengthen with recent gains in rents, occupancy and absorption. 2014 was the 4th consecutive year of positive net absorption and the most since 2007. Rents at $21-22 remain well below the $26-27 peak range. But they appear to have bottomed with two straight years of increases. Occupancy …

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Everest Acquires Crossroads Corporate Center

Office

Original Article from the Business Real Estate Weekly of Arizona. Phoenix – W-EH Crossroads Holdings JV VII LLC, formed by Walton Street Capital LLC in Chicago, Ill. (Perry Pinto, et al., principals) and Everest Holdings in Scottsdale (Joe Blackbourn, principal), paid $7.18 million ($68.31 per foot) to buy a 105,107-square-foot back-office building located north of …

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