Thank you to everyone that helped make our happy hour a success. We were very pleased that President Brian Mueller could take time to be with us and talk about Grand Canyon University, the success of their West Valley neighbor programs, and opportunities provided to challenged students in local high schools. KLCG hosted the event and the attendees from the Commercial Real Estate Community provided significant contributions to GCU's Students Inspiring Students Scholarship program.
Amazon.com Inc. (Nasdaq: AMZN) now has more than 6,000 employees in the Phoenix and plans to add another 1,000 workers at a retrofitted fulfillment center and a new one in the West Valley.
Amazon has renovated its existing building at Buckeye Road near 67th Avenue. That fulfillment center will handle clothing and shoes. Amazon is also landing a new distribution center at Lower Buckeye Road near 51st Avenue in west Phoenix. That center totals 460,000 square feet and Amazon’s real estate footprint here is 4.3 million square feet.
The Plaza Cos. and Holualoa Cos. have completed their purchase of a big part of Park Central Mall in Phoenix. Plaza and Holualoa, which teamed to develop the ASU SkySong high-tech office development in Scottsdale, aren’t commenting about Park Central’s place in the Amazon pitch.
They are, however, talking about their plans aimed at turning Park Central into a more creative and high-tech office park. The purchase price and renovations are totaling $57 million.
While the number of apartments under construction has reached a cyclical high, that doesn't necessarily portend a bubble on the horizon. Bisnow's Champaign Williams reports that the current level of supply is still not enough to meet the pent-up demand from the growing number of Americans who are still unable to live on their own. National Association of Real Estate Investment Trusts senior economist Calvin Schnure explains how the trend of shared housing indicates how burdened renters are today:
16,704 Units Under Construction
In addition to the 16,704 units currently under construction, there are 11,837 planned and 12,019 units noted as Prospective. That's a total of 40,560 units.
Email Jim for detailed list of new construction or use the map link above.
Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.