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SE Valley Tops Retail Construction

June 7th, 2007 1:44 AM

Southeast Valley tops in retail construction in 2006-2007

May 8th, 2007 by azrealestate.

The Valley has a record 9.6 million square feet of retail under construction, and most of it is opening in this year or next, according to CB Richard Ellis. Two thirds of that is in the Southeast Valley, adding the equivalent of at least five new Chandler Fashion Centers….What is happening in the Southeast Valley reflects the latest retail trends, some of which are already being echoed in other high growth areas of the Valley.

• The new regional malls, such as Westcor’s SanTan Village that will have a Dillard’s and maybe Macy’s, are open-air lifestyle centers. The five-year-old Chandler Fashion Center is the last enclosed mall built in the Southeast Valley.
• While regional malls used to be spaced more than 10 miles apart, there are two pairs of Southeast Valley centers that are a mile or two apart: SanTan Village and Main Street Commons in Gilbert, and Tempe Marketplace and Mesa Riverview. They have to fight each other for tenants.
• Chains usually space their large stores at least five or more miles apart to avoid competing with themselves. But Wal-Mart is also building stores only a mile or two apart from each other.

Posted by Monica McKee on June 7th, 2007 1:44 AMPost a Comment (0)

Gilbert News

June 7th, 2007 1:42 AM

May 9, 2007

The Forum going up in Gilbert

David Woodfill, Tribune

Gilbert is getting a 120,000-square-foot retail and office center. The Forum, described by leasing officials as a “high-end, mixed-use project,” is set to open at the northwest corner of Val Vista Drive and Williams Field Road by the end of the year.

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Officials said the center would get underground parking, LCD-screen signage, lush common areas, water features and patios.

“The first thing they’re doing is they’re building the parking garage,” said Jenn Wilson, executive assistant to Mike Gustafson, president of the Scottsdale-based developer VP Commercial.

A majority of the project — about 90,000 square feet — will consist of office condos, said Ryan Mojahed, a leasing agent for the property.

The balance of the property will have dining and boutique shopping, along with full service salons, he said.

Mojahed said they leased some of the property but were unable to disclose names.

He said the developer chose that area of Gilbert for its affluent demographics and traffic counts.

“It’s very comparable to Scottsdale,” he said.

The Forum, which will consist of 10 buildings, is close to Loop 202 and SanTan Village, a regional shopping center under development by Westcor. It will also reside to the north of Main Street Commons, the SanTan Motorplex and Gilbert Mercy Hospital.

“(It’s) just a good location for any retail,” Mojahed said.

Town Manager George Pettit said while he was unaware of this specific project, he said many developers are offering up mixed-use projects that are primarily retail.

“This is the preferred approach over what other people are calling mixed use,” Pettit said. “It’s compatible to what we’re looking for. In order to support a lot of business uses, restaurants and other businesses development, you need jobs in the area. Williams Field and Val Vista is a very busy intersection.”

Posted by Monica McKee on June 7th, 2007 1:42 AMPost a Comment (0)

$300 million project for Chandler

March 15th, 2007 3:48 PM

Posted in Arizona, National | No Comments »

Urban village planned near Chandler mall

Mar 12th, 2007 by azrealestate

A $100 million, mixed-use project that includes 342 condominiums plus retail, offices and restaurants is planned next to Chandler Fashion Center.

The project, called the Metropolitan of Chandler, is designed as an urban village to attract people who want to live, work and play in one spot.

The project, with 100,000 square feet of commercial space, is planned on 12 acres wrapping around the Windmill Inn, across from Nordstrom on the west side of the mall.

If approved by the council, the development will include 1,100 underground parking spaces… Condos would range in size from 800 to 2,500 square feet and in price from $250,000 to $450,000. Most will be studios and one- and two-bedroom units.

Posted in Chandler | No Comments »

Niels Kreipke still pursuing Chandler Development

Mar 11th, 2007 by azrealestate

Developer Niels Kreipke says he will continue to pursue a $300 million project that would change the face of downtown Chandler even though the city delayed his presentation and paved the way for competitors to submit proposals for one of the parcels. Kreipke said he thought he had a green light to develop “Site Six,” the city-owned parking lot southwest of Boston Street and Arizona Avenue, behind the historic renovated Arrow Pharmacy building. That parcel was to be part of a larger Kreipke plan that would triple retail and office space downtown and add about 600 townhouses and apartments.

Posted by Monica McKee on March 15th, 2007 3:48 PMPost a Comment (0)