#commercialrealestate broker in the #Phoenix Metro providing Investment Commercial Real Estate Services #CRE #CCIM #AZ #realestate #rex #crex #retwit #nnn
Tempe, AZ
Joined November 2008
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If you didn't see the CCIM Insider Update today...well, let me point out a little something at the bottom!
I am beyond excited, humbled and blessed to be amongst this group!
#ccim
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From HonorHealth’s twin 9-story Scottsdale towers to $370M in Roosevelt Row investments, today’s AZ CRE update is packed! 🏥🏙️
🏥 HonorHealth Old Town Plan: Scottsdale's top employer proposes two 9-story buildings (223 luxury hotel keys & 238 apartments) at 2nd St & Drinkwater Blvd.
🏙️ $370M Roosevelt Row Push: Intersection Dev expands beyond gaming-themed builds with $70M+ SISU Roosevelt & Arcada—lifting its neighborhood pipeline to $370M.
🏗️ AZ Construction Job Surge: AZ OEO projects construction jobs to grow 1.9% annually through 2035 (nearly 4x the 0.5% U.S. pace), trailing only healthcare (2.1%).
🏢 Multifamily Supply Revised Up: Yardi Matrix hikes 2026 apartment completions 4.8% to 513,883 units, raising supply forecasts annually through 2031.
🏭 Life Cos Dominate Big-Box Debt: Trepp finds life insurers finance median industrial assets of 250k SF (2x CMBS's 112.5k SF) with ~2x the NOI/SF.
#CRE #PhoenixRealEstate #ScottsdaleAZ #DowntownPHX #Multifamily #IndustrialCRE #HealthcareCRE #AZBiz
nickminer.com/daily-news-11-…
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Today’s Arizona commercial real estate update covers marquee retail & entertainment signings in Queen Creek, a fitness-anchored groundbreaking in Cave Creek, and adaptive reuse opportunities transforming vacant offices into outpatient healthcare hubs. 📊
Here is your daily Valley CRE intelligence brief:
• Creation Signs New Concepts at $120M Switchyard in Queen Creek: Ahead of Postino's November 14 grand opening, developer Creation secured a wave of new leases at The Switchyard, its 10-acre mixed-use district at Ellsworth and Ocotillo roads. New additions include Copenhagen-founded coffee and juice brand Joe & The Juice (2,350 SF) and live music and dining venue The Stillery (slated for Phase 2 delivery in Q4 2027), alongside ROOM and PORCH and VIO Med Spa.
• Evergreen Breaks Ground on Black Mountain Marketplace in Cave Creek: Evergreen Development, on behalf of the Bullington family, commenced construction on Black Mountain Marketplace, a 13.3-acre neighborhood center at Carefree Highway and Cave Creek Road. Anchored by a 41,337 SF Mountainside Fitness slated for summer 2027 delivery, the project includes seven outparcel pads for dining, services, and daily-needs retail.
• Vacant Arizona Offices Draw Outpatient Healthcare Conversions: With new medical outpatient starts hovering near historic lows (roughly 1% of existing inventory) and population growth fueling clinical demand, healthcare systems and developers are increasingly evaluating vacant Arizona office buildings for adaptive reuse. Well-suited retrofits can deliver occupancy in 6 to 9 months—compared to 2 to 3 years for ground-up construction—though column spacing and floor-plate geometry remain critical underwriting hurdles.
• Private Credit Outpaces Traditional CRE Lenders: BGO Chief Economist Ryan Severino estimates that private debt in commercial real estate has at least doubled since 2019, marking a structural rebalancing in real estate credit markets as private capital fills lending gaps left by banks, insurers, and securitizations.
• Multifamily Supply Moderates as Sun Belt Concessions Linger: Q3 leasing commentary from major apartment REITs indicates new multifamily deliveries are finally tapering off, though persistent renter concessions continue to delay new-lease rent recovery across Sun Belt metros until recently delivered properties reach stabilization.
With outpatient medical construction starts sitting near historic lows while traditional office vacancies persist, how is your team evaluating floor-plate suitability and retrofitting costs for medical conversions across Metro Phoenix?
Let's connect in the comments! 👇
#CommercialRealEstate #PhoenixRealEstate #QueenCreek #CaveCreek #HealthcareCRE #RetailCRE #Multifamily #CapitalMarkets #AZBiz #RealEstateInvesting
nickminer.com/daily-news-11-…
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From a $116.7M Peoria retail buyout to Phoenix’s $1B sustainable campus, today’s AZ CRE update is packed! 🛍️🌱
🛍️ $116.7M Park West Sale: CA-based CenterCal Properties enters AZ, buying the 45-acre Park West center in Peoria from CIRE Equity for $116.7M+.
🌱 $1B Sustainable Hub: Phoenix City Council advances the $1B+ Resource Innovation Campus across ~30 acres at 27th Ave & Lower Buckeye Rd.
💼 412k Jobs by 2035: AZ Office of Economic Opportunity projects 412k+ new jobs over the next decade—expanding ~4x faster than the US average.
📉 Renter Delinquency Highs: Fed data shows >1 in 8 renters are 60+ days past due on loans (highest since 1989), widening the homeowner-renter divide.
🏗️ 2027 Project Pipeline: AZRE highlights 50 flagship CRE developments dictating Arizona’s industrial, retail, and mixed-use momentum.
#CRE #PhoenixRealEstate #PeoriaAZ #RetailCRE #EconomicDevelopment #Multifamily #AZBiz
nickminer.com/daily-news-11-…
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From $69.3M Camelback office refis to 250 new Dutch Bros shops, today’s AZ CRE update is packed! ☕🏢
🏢 $69.3M Grove Refi: RED Development lands a $69.3M fixed-rate refi from PGIM (via JLL) for The Offices at The Grove (185k SF, 100% leased) on Camelback.
☕ Dutch Bros 2027 Blitz: Tempe-based Dutch Bros plans to open 250 drive-thrus in 2027 (+35% YoY) amid surging beverage pad competition.
🏙️ $70M Roosevelt Row Kickoff: Intersection Dev breaks ground on 12-story Sisu tower & the historic Stoddard-Harmon House reuse at 1st Ave & McKinley.
🏥 Healthcare Expansion Boom: Abrazo, Dignity, City of Hope, Banner & HonorHealth accelerate major hospital/campus expansions across AZ.
📊 Multifamily Pricing Squeeze: Marcus & Millichap reports higher rates may force apartment sellers to trim prices despite strong Q3 sales velocity.
#CRE #PhoenixRealEstate #DowntownPHX #CamelbackCorridor #RetailCRE #Multifamily #HealthcareCRE #AZBiz
nickminer.com/daily-news-11-…
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From $10.35M state land bidding wars to 533 units rising in Tempe, today’s AZ CRE update is packed! 🏬⚡
🛒 Vestar Wins Land Auction: Vestar wins a bidding war at $10.35M for 20 acres at Black Mountain Pkwy & Deer Valley Rd for a $50M+ grocery-anchored center.
🏙️ Revelry Towers in Tempe: Aspirant Dev advances Revelry (17 & 15 stories, 533 units) with rooftop pickleball, bowling & retail across from Trader Joe's.
🛋️ Bed Bath & Beyond Returns: Owner Neighborhood Intelligence opens its 1st standalone brick-and-mortar revival store at 7580 W Bell Rd in Glendale.
⚡ Power Delays Construction: LGE Design Build reports electrical power access is now the #1 bottleneck threatening Valley construction delivery timelines.
🛍️ Arizona Mills CMBS Refi: Simon Property Group taps the CMBS market to refi four regional malls, including Arizona Mills in Tempe ($805.1M debt package).
#CRE #PhoenixRealEstate #TempeAZ #GlendaleAZ #NorthPhoenix #RetailCRE #Multifamily #AZBiz
nickminer.com/daily-news-11-…
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From $108.7M grocery portfolio trades to Sam Fox launching his next chapter, today’s AZ CRE update is packed! 🛒⚡
🛒 $108.7M Grocery Portfolio: NY-based 11North Partners enters AZ, acquiring 7 grocery-anchored centers (423k SF) from A&C Properties.
🛍️ $50M+ Vestar Development: Vestar buys 20 acres of State Trust land at Black Mountain Pkwy & Deer Valley Rd for Black Mountain Village (120k SF retail).
⚡ 94k SF Tech Contractor Lease: Electrical contractor OEG leases Ryan Cos.' entire 94,072 SF Building A at Queens Crossing at Chandler Airpark.
🍽️ Sam Fox Exits FRC: Sam Fox departs Fox Restaurant Concepts 7 years after its $350M+ Cheesecake Factory sale to focus on Author & Edit Hospitality.
🏢 2027 Multifamily Rent Bump: CoStar raises 2027 national apartment rent growth forecast to 2.6% (up from 1.9%) as supply absorbs faster.
#CRE #PhoenixRealEstate #RetailCRE #ChandlerAZ #NorthPhoenix #IndustrialCRE #Multifamily #AZBiz
nickminer.com/daily-news-11-…
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From 120-ton panel tilts in Tempe to a legal ruling on a stalled Downtown tower, today’s AZ CRE update is packed! 🏗️⚖️
⚖️ Stalled Tower Legal Verdict: Judge rules developer The X Co. materially breached its contract with Clayco on its stalled Downtown PHX high-rise.
🏭 Tempe Goes Vertical: Lincoln Property Co. & Willmeng tilt 120-ton concrete panels at Sky Harbor Logistics (255k SF industrial) at 1515 W 14th St.
🏙️ Ikonic Scottsdale Rises: The Hampton Group is building Ikonic Scottsdale, a 245-unit luxury project with rooftop golf & pool on the Loop 101 corridor.
🏥 Medical Office Supply Freeze: Avison Young reports MOB tenant demand hit a 5-year high while new construction starts fell to a 10-year low.
📊 Economy Diverges: U.S. Q3 GDP jumped 3.4% annualized on AI tech spending, though household real disposable income and sentiment dipped in September.
#CRE #PhoenixRealEstate #TempeAZ #DowntownPHX #ScottsdaleAZ #MedicalOffice #IndustrialCRE #Multifamily
nickminer.com/daily-news-11-…
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From 5,300-acre Peoria pivots to tightening retail vacancy, today’s AZ CRE update is packed! 🌵🏠
🏡 5,300-Acre Saddleback Pivot: Castle Hill Partners scales back golf/resort plans at Peoria's 5,300-acre Saddleback to focus squarely on housing delivery.
🛍️ Retail Vacancy Tightens: U.S. retail vacancy is projected to drop to ~4.26% by year-end (down from 4.32% in Q3) as limited supply constrains space.
⚡ Data Center Land Positioning: MLS listings marketing data center proximity or suitability surge 49% YoY (477 listings) amid digital infrastructure demand.
☕ 7 Brew Takes Over Drive-Thrus: 7 Brew secures the lion's share of vacated Salad and Go leases (outbidding peers on 63+ sites) to expand coffee drive-thrus.
🏗️ 50 Projects Shaping 2027: AZRE spotlights 50 transformative CRE projects anchoring Arizona’s advanced manufacturing, mixed-use, and tech growth.
#CRE #PhoenixRealEstate #PeoriaAZ #RetailCRE #DataCenters #Multifamily #AZBiz
nickminer.com/daily-news-11-…
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From a $109.5M West Valley industrial buy to 257 Hilton keys in North PHX, today’s AZ CRE update is packed! 🏭🏨
🏭 $109.5M Industrial Buyout: LaSalle Investment acquires a 734k SF warehouse at 303 Crossroads in Glendale from Clarius Partners for $109.5M.
🏨 Dual-Brand Hilton Groundbreak: Plaza Cos & Fayth Hospitality break ground on 257-key Hotel Six Four (Tapestry & Homewood Suites) at 64th & Mayo.
🏜️ TSMC Halves Vacancy: Bloomberg reports TSMC’s $265B hub cut NW Valley industrial vacancy in half to 8% over 12 months as suppliers flood in.
🛍️ 32-Acre Avondale Hub: The District advances at Avondale Blvd & Van Buren—a 269k SF mixed-use center anchored by grocery, retail & dining.
🌊 Gilbert Lakeside Village: Morrison Ranch plans Lakeside Village, bringing 160k SF of waterfront retail, dining & office across 16 acres.
#CRE #PhoenixRealEstate #GlendaleAZ #NorthPhoenix #GilbertAZ #AvondaleAZ #IndustrialCRE #HospitalityCRE #AZBiz
nickminer.com/daily-news-11-…
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From Honeywell’s $500M Tempe plant to Glendale’s 160-acre data center, today’s AZ CRE update is packed! ✈️⚡
✈️ $500M Tempe Expansion: Honeywell Aerospace announces a 300k SF factory in Tempe (600 jobs)—the largest aerospace investment in city history.
⚡ Glendale Data Center OK'd: City Council approves annexation/rezoning for Project Eagle: 160 acres, 3 data centers & 18 gas turbines near Luke AFB.
🏭 Intel Fab 62 Progress: Intel advances Fab 62 at its $32B Chandler Ocotillo campus, on track for high-volume production by late 2028.
☕ 7 Brew Finalizes $123M Buy: 7 Brew completes acquisition of 63 Salad & Go leases (36 in AZ), outbidding Dutch Bros’ $105M offer.
🏗️ 2027 CRE Horizon: Arizona’s top 50 CRE projects signal concentrated capital flow into advanced manufacturing, tech & infrastructure.
#CRE #PhoenixRealEstate #TempeAZ #GlendaleAZ #ChandlerAZ #IndustrialCRE #DataCenters #AZBiz
nickminer.com/daily-news-11-…
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From Honeywell’s $500M Tempe plant to Glendale’s 160-acre data center, today’s AZ CRE update is packed! ✈️⚡
✈️ $500M Tempe Expansion: Honeywell Aerospace announces a 300k SF factory in Tempe (600 jobs)—the largest aerospace investment in city history.
⚡ Glendale Data Center OK'd: City Council approves annexation/rezoning for Project Eagle: 160 acres, 3 data centers & 18 gas turbines near Luke AFB.
🏭 Intel Fab 62 Progress: Intel advances Fab 62 at its $32B Chandler Ocotillo campus, on track for high-volume production by late 2028.
☕ 7 Brew Finalizes $123M Buy: 7 Brew completes acquisition of 63 Salad & Go leases (36 in AZ), outbidding Dutch Bros’ $105M offer.
🏗️ 2027 CRE Horizon: Arizona’s top 50 CRE projects signal concentrated capital flow into advanced manufacturing, tech & infrastructure.
#CRE #PhoenixRealEstate #TempeAZ #GlendaleAZ #ChandlerAZ #IndustrialCRE #DataCenters #AZBiz
nickminer.com/daily-news-10-…
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From $64.5M West Valley warehouse buys to $70M Roosevelt Row groundbreakings, today’s AZ CRE update is packed! 🏭🏙️
🏭 Industrial Rents Hit New High: JLL Q3 report shows Phoenix industrial rents reaching record highs, driven by advanced manufacturing & data centers.
🛞 $64.5M Discount Tire Deal: Discount Tire acquires a 290k SF warehouse at Park Algodon (Loop 101 & Indian School) from Trammell Crow.
🏙️ $70M Roosevelt Row Revamp: Intersection Dev breaks ground Nov 6 on 12-story SISU Roosevelt (125 units) & Arcada historic restoration.
🏨 One Scottsdale Nears Buildout: Only 19 acres remain across the 126-acre, $1B master plan at Loop 101 & Scottsdale Rd for final hotels/condos.
📊 Fed Rate Uncertainty: Markets expect a Fed pause this week, but potential December rate hikes keep CRE borrowing costs in flux.
#CRE #PhoenixRealEstate #IndustrialCRE #DowntownPHX #ScottsdaleAZ #CapitalMarkets #AZBiz
nickminer.com/daily-news-10-…
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From $3.6M Paradise Valley record home prices to major Chandler office park rezonings, today's AZ CRE update is packed! 🍣🏢
🍣 Roka Akor in Gilbert: Celebrated Japanese steakhouse Roka Akor signs a lease at Northside at SanTan Village for its 2nd AZ location.
🏨 Downtown Hotel Conversion: Aperture Hotels buys the 6-story Ellis Building in Downtown Phoenix for $10.3M ($162/SF) to convert into a boutique hotel.
🛍️ 34-Acre Avondale Project: Pederson Group plans a mixed-use project at Avondale Blvd & Van Buren with a 99k SF grocery anchor & 118k SF industrial space.
🏬 669 Apartments at Allred Park Place: Chandler P&Z recommends approval for Douglas Allred Co.'s 669-unit residential plan in a 180-acre office park.
💎 $3.6M Paradise Valley Record: Paradise Valley (85253) ranks #30 on PropertyShark's most expensive US ZIP codes with a record $3.6M median price.
#CRE #PhoenixRealEstate #GilbertAZ #DowntownPHX #ChandlerAZ #AvondaleAZ #AZBiz
nickminer.com/daily-news-10-…
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From Intel's next Chandler mega-fab to Queen Creek mixed-use approvals, today’s AZ CRE update is packed! 🏭🛍️
🏭 Intel Chandler Expansion: Construction & tool install underway on Fab 62 at Intel's $32B Ocotillo campus (operational by late 2028).
🏬 Queen Creek Mixed-Use: P&Z recommends approval for The Union at Ellsworth, clearing 250 multifamily units across a 25-acre commercial master plan.
🛍️ Ground-Up Retail Cycle: JLL reports retail construction is rising for the 1st time in 20 years (~1% annual growth through 2029).
🎁 $1T Holiday Milestone: NRF forecasts 2026 holiday retail sales will top $1 trillion ($1.013T, +4.2% YoY) for the first time on record.
📊 Retail Pricing Divide: GlobalData finds Sept retail sales rose 6.8% YoY, though price inflation masked modest volume growth.
#CRE #PhoenixRealEstate #ChandlerAZ #QueenCreek #RetailCRE #Intel #Semiconductors #AZBiz
nickminer.com/daily-news-10-…
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From a $60M Downtown YMCA revamp to $1B North Scottsdale expansions, today’s AZ CRE update is packed! 🏀🏢
🏀 $60M Downtown YMCA: Phoenix Suns, Phoenix Mercury & YMCA unveil a $60M, 55k SF 3-story hub in Downtown PHX (opening 2029).
🏨 One Scottsdale Expands: DMB Associates kicks off hotel, restaurant & luxury condo construction at its $1B, 100-acre master plan.
⚡ Power is #1 Factor: Site Selectors Guild survey reveals access to electric power is now the top selection criterion (79%), topping labor (50%).
🛡️ Safe Valley Metros: WalletHub ranks Chandler (#26), Gilbert (#31), and Scottsdale (#40) among America’s top 40 safest cities.
🏢 Multifamily Pipeline Diverges: NAA reports September apartment permits & completions rose even as starts fell, pointing to resilient demand.
#CRE #PhoenixRealEstate #ScottsdaleAZ #DowntownPHX #EastValley #Multifamily #SiteSelection
nickminer.com/daily-news-10-…
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From 20-year retail building shifts to AZ multifamily tailwinds, today’s CRE update is packed! 🛍️🏢
🛍️ Ground-Up Retail Returns: JLL reports retail construction is trending up for the 1st time in 20 years (~1% annual growth through 2029).
🌵 TSMC Sparks Retail Rush: SRS reports Western retail demand is outpacing supply, led by AZ submarkets around TSMC's $265B chip expansion.
🏬 Retail Inventory Crunch: Cushman & Wakefield notes capital outstrips available assets; US retail asking rents rose 2.2% on record-low vacancy.
🏢 Mortgage Rates Aid Apartments: Marcus & Millichap report shows high mortgage rates keep AZ renters in units longer, stabilizing occupancy.
💼 Recalibrating Job Growth: M&M analysis shows the US now needs <50k jobs/month to keep unemployment steady, shifting CRE demand models.
#CRE #PhoenixRealEstate #RetailCRE #Multifamily #CapitalMarkets #TSMC #AZBiz
nickminer.com/daily-news-10-…
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From 20-year retail building shifts to AZ multifamily tailwinds, today’s CRE update is packed! 🛍️🏢
🛍️ Ground-Up Retail Returns: JLL reports retail construction is trending up for the 1st time in 20 years (~1% annual growth through 2029).
🌵 TSMC Sparks Retail Rush: SRS reports Western retail demand is outpacing supply, led by AZ submarkets around TSMC's $265B chip expansion.
🏬 Retail Inventory Crunch: Cushman & Wakefield notes capital outstrips available assets; US retail asking rents rose 2.2% on record-low vacancy.
🏢 Mortgage Rates Aid Apartments: Marcus & Millichap report shows high mortgage rates keep AZ renters in units longer, stabilizing occupancy.
💼 Recalibrating Job Growth: M&M analysis shows the US now needs <50k jobs/month to keep unemployment steady, shifting CRE demand models.
#CRE #PhoenixRealEstate #RetailCRE #Multifamily #CapitalMarkets #TSMC #AZBiz
nickminer.com/daily-news-10-…
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From 300k SF West Tempe industrial to a historic new GCU law school, today’s AZ CRE update is packed! 🏭⚖️
🏭 Sky Harbor Innovation Park: 19-acre industrial project under construction at 52nd & University in Tempe; 3 Class A buildings totaling ~300k SF.
⚖️ GCU College of Law Approved: AZ Supreme Court grants historic unanimous approval for Grand Canyon University’s new law school.
🥗 Salad & Go Comeback: Founding chef Daniel Patino & Hospitality First Concepts buy back the brand & Valley leases to relaunch in AZ.
🏢 Student Housing vs. Concessions: Hefty market-rate apartment concessions lure Phoenix college students away from traditional campus housing.
📰 CREDA AZ Spotlight: AZRE’s special section highlights the developers, policy shifts, and advocacy steering Arizona’s CRE pipeline.
#CRE #PhoenixRealEstate #TempeAZ #IndustrialCRE #Multifamily #GCU #AZBiz
nickminer.com/daily-news-10-…
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From a $372M Four Seasons trade to historic downtown office conversions, today’s AZ CRE update is packed! 🏨🎾
🏨 $372M Four Seasons Deal: Braemar Hotels agrees to sell the Four Seasons Resort Scottsdale at Troon North to Evergreen Acquisitions for $372M.
🏢 Historic Hotel Conversion: Aperture Hotels buys the 100-year-old Ellis Building in Downtown PHX for $10.3M to create a ~100-room Marriott Tribute Portfolio hotel.
🏡 291-Unit Avondale BTR: Dominium acquires 25 acres in Avondale for Rosilian Villas, a planned 291-unit build-to-rent development.
🎾 The Picklr Files Ch. 11: Indoor pickleball chain The Picklr enters Chapter 11 with $4.5M in debtor financing after rapid AZ expansion (clubs remain open).
🛎️ Valley Hospitality Boom: Metro Phoenix is slated to deliver 26 new hotels (3,615 rooms) in 2026 as projects like Algodon Center Hotel advance.
#CRE #PhoenixRealEstate #ScottsdaleAZ #DowntownPHX #AvondaleAZ #HospitalityCRE #Multifamily #AZBiz
nickminer.com/daily-news-10-…
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From a $372M Four Seasons trade to historic downtown office conversions, today’s AZ CRE update is packed! 🏨🎾
🏨 $372M Four Seasons Deal: Braemar Hotels agrees to sell the Four Seasons Resort Scottsdale at Troon North to Evergreen Acquisitions for $372M.
🏢 Historic Hotel Conversion: Aperture Hotels buys the 100-year-old Ellis Building in Downtown PHX for $10.3M to create a ~100-room Marriott Tribute Portfolio hotel.
🏡 291-Unit Avondale BTR: Dominium acquires 25 acres in Avondale for Rosilian Villas, a planned 291-unit build-to-rent development.
🎾 The Picklr Files Ch. 11: Indoor pickleball chain The Picklr enters Chapter 11 with $4.5M in debtor financing after rapid AZ expansion (clubs remain open).
🛎️ Valley Hospitality Boom: Metro Phoenix is slated to deliver 26 new hotels (3,615 rooms) in 2026 as projects like Algodon Center Hotel advance.
#CRE #PhoenixRealEstate #ScottsdaleAZ #DowntownPHX #AvondaleAZ #HospitalityCRE #Multifamily #AZBiz
nickminer.com/daily-news-10-…
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