Commercial Real Estate & Business News – September 22, 2016

North Scottsdale's largest shopping destination is preparing to add more stores, restaurants and apartments in an eight-story tower at Scottsdale Quarter, according to development plans filed to the city last month. The urban mixed-use complex near Scottsdale Road and Butherus Drive, across from Kierland Commons in Phoenix, could get more than 60,000 square feet of new retail space below 300 luxury apartments in what might be the last major expansion for Scottsdale Quarter...»
MainSpring Capital, developer of the 232-acre mixed-use Pima Center, announced plans for its new retail development, The Block at Pima Center. Located on the Northwest Corner of the Loop 101 and Via de Ventura on the Salt River Pima Maricopa Indian Community, Pima Center is one of North Scottsdale's largest mixed-use business parks with 1.4 million square feet already developed. The Block at Pima Center will occupy approximately 12 acres with freeway frontage along the 101 and with full diamond access at Via de Ventura...»
Western Maricopa Education Center is breaking ground on its $45 million campus in Surprise. The new campus at the southwest corner of Dysart Road and Grand Avenue is being built on a 19.3-acre parcel for a fall 2017 opening. It will be the fifth campus in the West-MEC Career and Technical Education School District...»
Longtime Valley restaurant operator, Loco Patrõn, has leased the former Salty Senorita building on Northsight Boulevard for a new Loco Patrõn Mexican Brewery. The area is bustling with new restaurants, retailers and multifamily development. A luxury 297-unit apartment building is being constructed directly behind the Loco North building, along with the popular breakfast and weekend brunch restaurant, Butters, which recently opened its doors across the way. Existing national tenants in the immediate area include Costco, Walmart Supercenter, Sam's Club, Home Depot, and more...»
High-net-worth investors are expected to continue pouring capital into U.S. commercial real estate in 2016, experts say, but they are fine-tuning their strategies to enter markets in which institutional investors are too risk-averse to play...»

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