Phoenix

Five Star development has surpassed $215 million in sales with its The Ritz-Carlton Residences, Paradise Valley, which offers 39 for-sale estate homes.

With a rapidly rising population that will no doubt shop online, Phoenix is seeing an increased demand for functional industrial facilities.

The developer secures $54 million through PCCP for two apartment projects in Phoenix totaling 534 units.

Scottsdale Jet Center currently leases 45,000 square feet of office space, 24,000 square feet of T-hangar space, tie-down spaces and shades. Planning for the new FBO terminal and 30,000-square-foot hangar is currently underway.

The city council approves Medistar's $231 million TOD project in Downtown Phoenix.

Nearly half of the industrial construction pipeline in Phoenix is mid-bay product sized from 50,000 square feet to 200,000 square feet.

Industrial construction activity increased in Phoenix in the beginning of the year as vacancy declined.

Ecommerce continues to drive leasing activity in Phoenix, but 2019 may not top the record volumes in 2018.