Phoenix, Arizona – McShane Construction Company was selected by repeat client Related Group to build Town Chandler. Located in Chandler, Arizona, the new garden-style community will offer 420 units. McShane is also currently underway with Manor Scottsdale in Scottsdale, Arizona for Related Group.

“We’re very excited to work with Related Group on another project here in the Phoenix area,” commented Jim Kurtzman, Senior Vice President at McShane. “Town Chandler will offer 420 beautiful apartment units in an excellent location in the heart of Chandler.”

Positioned on an 18-acre site, Town Chandler will incorporate 15 three- and four-story wood frame apartment buildings. The development is characterized by a mid-century modern motif, featuring clean lines with an attractive stucco, stone and breeze block exterior. Each well-appointed unit will feature high-end interior finishes and open floor plans.

Additionally, the property will offer more than 12,000-square-feet of amenity space. A two-story clubhouse will incorporate a fitness center, clubroom/lounge, co-working space, theater room, sports simulator, outdoor patio and rooftop deck. The site provides two pools, a splash pad, yoga, fitness and game lawns, pickle ball courts, a snookball court, putting green, hammock garden, fire pit lounges, outdoor kitchens, an entertainment pavilion, youth interactive play area and pet playground areas.

Completion of Town Chandler is slated for February 2024. The architect is Todd & Associates.

Highlighted this week is a 28,500-square-foot industrial lease near the Tucson Airport at 6360 S Tucson Blvd, Suite 200 in Tucson handled by  Robert C. Glaser, SIOR, CCIM, and Paul Hooker, Principals, and Industrial Specialistsof Cushman & Wakefield | PICOR representing the landlord and Tim Healy of CBRE Tucson representing the tenant.

The following leases were submitted to the Real Estate Daily News for the Tucson Lease Report from November 1-5, 2021.

RETAIL – 6360 S TUCSON BLVD., #200, TUCSON 85706 – South
TireHub, LLC, leased 28,500-square-feet of industrial space from Daybreak Industrial QOB, LLC, located in the Daybreak Distribution Center, 6360 S. Tucson Blvd., Suite 200 in Tucson. Robert C. Glaser, SIOR, CCIM, and Paul Hooker, Principals, and Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Tim Healy with CBRE, Tucson, represented the tenant.

INDUSTRIAL – NOGALES, MEXICO – Extended South
Zion City, formerly Victory Worship Center, leased 10,983-square-feet of commercial/industrial space in Nogales, Sonora, Mexico. Cintya Denisse Angulo Garcia, Commercial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

INDUSTRIAL – 6800 N CAMINO MARTIN, #106-112, TUCSON, 85741 – Northwest
StateServ Medical, LLC leased 4,980-square-feet of industrial space at Old West Industrial Village, 6800 N. Camino Martin, Suite 106-112 in Tucson, from Clover Real Estate II, LLC / Foodtown Development Company II, LLC. Robert C. Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 5590 E RIVER ROAD, TUCSON, 85750 – Northeast
Wells Fargo Bank leased 3,100-square-feet of retail space, at 5590 E. River Road, Block 2 in Tucson, from 5590 E. River Plaza LLC. Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Nancy McClure with CBRE, Tucson, represented the tenant.

OFFICE – 5151 E BROADWAY BLVD., TUCSON, 85711 – East
Aura Solutions, LLC, renewed their lease with KCI-Broadway, LLC, Scott Seldin-Broadway, LLC, Belmont-Broadway, LLC, and Tucson 5151 Investments, LLC, for 3,073-square-feet of office space, located at 5151 E. Broadway Blvd., Suite 500 in Tucson. Richard M. Kleiner, MBA, and Thomas J. Nieman, Principals, and Office Specialists, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE- 3131 N COUNTRY CLUB ROAD, #107 & 108, TUCSON, 85716 – Central
SJM Premier Medical Group, LLC, leased 2,494-square-feet of office space from Spirits, LP, located at 3131 N. Country Club Rd., Suites 107 and 108 in Tucson.  Ryan McGregor and Molly Mary Gilbert, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 1200 N EL DORADO PLACE, #b-250, TUCSON, 85715 – Northeast
Fredrick Van Hook, MD renewed their lease with El Dorado Ventures, LLC for 1,190-square- feet of office space at El Dorado Square, 1200 N. El Dorado Place, Suite B-250 in Tucson. Molly Mary Gilbert, and Thomas J. Nieman, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 1200 N EL DORADO PLACE, #A-145, TUCSON, 85715 – Northeast
Hope Developmental Behavioral Pediatrics leased 430-square-feet of office space at El Dorado Square, 1200 N. El Dorado Place, Suite A-145 in Tucson, from El Dorado Ventures, LLC. Molly Mary Gilbert and Thomas J. Nieman, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Submit sales and leases to [email protected]

Credit: AZ Central

Plans are in the incubation stage in Phoenix to convert vacant retail space into apartments to partially address the city’s housing needs.

Retail space per capita in Phoenix averages 40.5 SF. The U.S. average is 28 SF.

A 2020 analysis determined the city’s housing inventory is more than 163,000 short of its current demand.

City staff told City Council in a meeting last month they would like to create a vacant storefront program that addressed redevelopment difficulties and incentivize reuse.

Potential program elements to promote general redevelopment include:

• Increased building heights and densities,
• Allowing specialty businesses to locate in commercial areas without obtaining specialized permits,
• Expanding the types of uses allowed in a given area, and
• Reducing parking requirements.

Staff will gather public input before assembling a specific plan, but many on the Council expressed conceptual support.

Another key aspect of the potential plan allows for the redevelopment of vacant big box stores and strip malls with multifamily units without requiring special approval, as is currently the case.

While there is opposition to multifamily conversion in some instances, some Council members feel vacant retail is a greater harm, attracting crime such as vandalism and looting.

Councilmember Jim Warning mentioned he has supported at least two zoning cases to redevelop big box spaces – an L.A Fitness and a Harkins Theatre – into multifamily.

He added, however, he has concerns about making across the board changes and prefers to retain redevelopment review as a case-by-case consideration.

Some real estate experts caution there is not as much contiguous vacant retail as many people seem to think, as the local vacancy rate is only around 6%. They recommend looking at outdated and vacant office space instead, as office vacancies are likely to continue growing in the aftermath of pandemic-related cultural and workplace shifts. (Source)