Arizona’s Retail Performance Could Predict How Industry Rebounds

By Brandon Brown | Phoenix Business Journal The Macerich Co., which owns some of the largest shopping malls and retail centers in the Valley and across the country, is hoping its Arizona portfolio will be a crystal ball to how the retail industry will bounce back after the Covid-19 pandemic. Because of fewer government-imposed Covid-related …

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$1.5M Cave Creek Shopping Center Renovation Nears Completion

By Corina Vanek | Phoenix Business Journal After making his firm’s first real estate investment in the middle of the Covid-19 pandemic, David Malin is nearing the end of a $1.5 million renovation to the Cave Creek shopping center. Malin, founder of Scottsdale Development Partners, bought the Shops at Dynamite Creek in Cave Creek for …

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Joint Venture Investing in Metro Phoenix Single-Family Rentals

By Angela Gonzales | Phoenix Business Journal Two out-of-state real estate firms formed a $1 billion joint venture to acquire and renovate single-family rental homes across the western United States, with big plans for Arizona. Denver-based Atlas Real Estate and San Francisco-based DivcoWest are targeting high-growth states, including Arizona, Colorado, Idaho, Nevada and Utah. Vincent …

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Scottsdale Homebuilder Takes On Single-Family Rental Market

By Angela Gonzales | Phoenix Business Journal Known for its award-winning custom homes, Camelot Homes is taking a giant leap into the single-family rental home market. The Scottsdale-based family owned business is working in partnership with Scottsdale-based Arcadia Communities to build single-family rental homes scattered throughout the Valley, with more than 300 lots in escrow. …

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Builders Gobbling Up Land to Develop in North Scottsdale

By Angela Gonzales | Phoenix Business Journal Mark Weber is making big land buys in metro Phoenix at a time when it’s getting tougher to find new acreage. The Arizona division president for Houston-based David Weekley Homes said he is spending $117 million on land and development for 12 new projects totaling more than 1,000 …

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Construction Wraps Up On North Scottsdale Spec Office Building

By Corina Vanek | Phoenix Business Journal Axis Raintree, a 175,112-square-foot speculative office building, developed as a partnership between Trammell Crow Co. and PGIM Real Estate completed construction. Trammell Crow Co. and PGIM Real estate completed construction on Axis Raintree in north Scottsdale. The building began construction in October 2019 on one of the last …

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Luxury Homes Selling Quickly at The Phoenician

By Angela Gonzales | Phoenix Business Journal Homes at a new residential community on what formerly was a golf course at The Phoenician are selling like hot cakes. Scottsdale-based Cullum Homes and Canada-based Replay Destinations are seeing success at the new Ascent at The Phoenician community, where they are building luxury condominiums and custom homes. …

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Old Town Scottsdale Remains King

By Corina Vanek | Phoenix Business Journal All eyes remain on Old Town as a prime employment and redevelopment area in Scottsdale, even as other parts of the city, including the Scottsdale Airpark and the McDowell Road Corridor, emerge as heavy-hitters for attracting new development. Stockdale Capital Partners, led by Managing Principal Shawn Yari, has …

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Phoenix Named a Top Global Luxury Home Market

By Angela Gonzales | Phoenix Business Journal Phoenix was named a top luxury real estate market to watch in a new report by Coldwell Banker Global Luxury. Phoenix was identified along with Denver and Dallas as secondary markets on the rise in the new report, called The Report: 2021 Global Luxury Market Insights. Chris Karas …

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More Valley Home Buyers Looking for Multigenerational Living Space

By Angela Gonzales | Phoenix Business Journal A tight housing supply during the coronavirus pandemic is causing home shoppers to look for more affordable ways to get parents, grandparents and grandchildren all together under one roof. Building a casita in the backyard of an existing home is one way to go, but each city has …

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