The expansion will consist of a 700,000+ square-foot distribution center. Construction of the distribution center, located at Reems Road between Olive and Peoria Avenues, is scheduled to begin in early 2020 and the facility is expected to be operational in 2021.
With city officials expecting the development to break ground by the end of 2019, the future mixed-use development for the Jersey Village may have its own hotel and coworking space.
The 43-acre Village Center off U.S. 290 near Jones Road may be the home of a new Marriott Hotel and Work Lodge coworking space within the next few years. Collaborate LLC, the architect company over the Village Center project, announced in a press release that the company is in discussions with Marriott and Work Lodge to deliver on the “Live, Learn, Play, and Work” vision for the development announced in March.
U-Haul International is ready to break ground on a multi-million-dollar conference and fitness center, which is set to be the showpiece of its ongoing campus expansion in Midtown Phoenix.
The two-story, state-of-the-art facility will be stationed along Roanoke Avenue between Central Avenue and 3rd Street, just east of the U-Haul corporate towers. It is scheduled for completion by December 2020.
U-Haul has been headquartered at 2727 N. Central Ave. since 1967 and employs more than 4,000 Arizonans.
“This project is an investment in our Team Members, an investment in our future, and an investment in the City of Phoenix,” U-Haul Chairman Joe Shoen stated.
According to the Q3 Industrial Insight report from the Phoenix office of JLL, metro Phoenix now has more than 10 million square feet of industrial space under construction – the highest level of year-to-date construction activity since 2007. Despite still-rising construction costs, the JLL report cites in-migration and a growing pool of skilled labor as key factors driving the growth.
“Companies have recognized the favorable operating conditions in the Valley and they are not only driving new industrial construction but are also committing to new spec projects prior to completion of their construction,” said JLL Vice President Riley Gilbert. “Phoenix has not traditionally been known as a pre-leasing industrial market but we are seeing that now, and fully anticipate this trend to continue as the market evolves.”
Nearly 50% of Maricopa County’s growth over the next 25 years is projected to occur in the West Valley.
In order to accommodate a population growth of more than 1 million people, according to John Graham — WESTMARC board member and Sunbelt Holdings president and CEO — economic development strategies are focusing on infrastructure, roads, water and sewer.
Graham gathered alongside other WESTMARC members, elected officials and expert speakers at the 2019 Economic Development Summit on May 15 to discuss future growth in the West Valley and learn about water, transportation and other developments needed to sustain that growth.
The evolution of Downtown Phoenix continues, and there are three key projects leading the market forward, The Link PHX, Block 23 and two buildings going up at the newly renovated Arizona Center — the AC Hotel by Marriott and Palm Tower, a residential tower. All of these projects are in different stages of development, but the tallest of the new buildings, The Link PHX, will be the first one to be delivered.
Sara Scoville-Weaver, business development manager at Downtown Phoenix Inc. said that all these projects will bring more people and vibrancy and more businesses to the downtown. Scoville-Weaver also said that these projects were developed on land that was empty and by having more people live here and shop here, that will bring more visitors which is good not just for the downtown but for the entire city.
SVN Desert Commercial Advisors has been an instrumental part of the economic development in downtown/midtown Phoenix. Advisors, Justin Horwitz and Paul Borgesen III, often relied on as experts of the Downtown Phoenix submarket, have facilitated yet another transaction representing Fore Properties in the acquisition of the former O’Neil Printing building for $9,325,000.
The property is located at 366 N 2nd Ave. (the SEC of 2nd Ave & Fillmore St.), a significant site in the heart of Downtown Phoenix’s Opportunity Zone. This property consists of approximately 2.56 acres of land with three sides of street frontage. Development plans for the call for a high-end mixed-use development consisting of seven stories, 323 apartment units, and ground floor retail and restaurant space in a project totaling approximately 285,000 SF. The community will feature a combination of studios, 1 bedroom and 2-bedroom units as well as a rooftop deck with views of downtown Phoenix, a pool, and fitness center.
The Cy-Fair area has seen projects launched or announced by several major logistics companies, including FedEx Corp., Amazon and Home Depot, over the past three years.
Over that same time period, industrial developers have targeted northwest Houston for new projects big and small, adding even more space to what was already the largest industrial submarket in the Houston area, according to experts with the commercial real estate firm NAI Partners. Spurred largely by logistics projects, the northwest Houston area brought in 4.4 million square feet of industrial space over the past year, second most of all Houston submarkets, according to NAI data.
Nineteen years ago, the population of Goodyear was about 18,000 people – a small fraction of where it sits today at more than 84,000 residents. That sort of increase in population means more demand for new homes and more construction activity from property developers.
“Right now, if you drive our streets, there’s construction on every block,” said Goodyear Mayor Georgia Lord. “We continuously have developers coming out. They’re constantly watching the growth.”
One of these developers is Newland, which claims to be the “largest private developer of mixed-use communities in the United States.” Newland manages the 20,000-acre Estrella master-planned community in Goodyear, which has continued to add new neighborhoods throughout the past thirty years. That’s also where the company recently opened Lucero, its fourth “housing village.”
Construction of Creighton University’s nearly $100 million health sciences campus started in early July, with a groundbreaking celebration planned for September.
Plaza Companies is the developer, and Okland Construction will be the general contractor for the first phase of the Creighton University building. Butler Design Group will serve as the architect, and the conceptual and tenant design and improvement architect is RDG Planning & Design.
“We are very pleased to be working with Creighton University to make this exceptional medical facility a reality,” said Sharon Harper, President & CEO of Plaza Companies. “The new building will help fill a critical need in the Arizona medical community and will be a tremendous asset to the Valley of the Sun.”
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