Why Urban Infill's Still Hot In Phoenix
The age of suburban sprawl has morphed into the age of urban infill. Phoenix is a prime market for infill, especially redevelopment opportunities, says CBRE's Jim Fijan.
"The demand for redevelopment opportunities is very strong for quality infill sites," Jim tells us. Recently Jim and colleague Will Mast repped Phoenix-based Daily Double LLC in its sale of an infill site at 2801 and 2845 East Camelback Road to LaPour Partners and Holualoa Cos for more than $17M.
The buyers plan Camelback Collective, a redevelopment project that will include a 120k SF office property and a 160-room boutique hotel by Marriott's AC Hotels line. The Camelback Corridor is one of the Valley's long-term employment cores, Jim says, and Camelback Collective will boost the area's amenity base, along with a much-needed new office building. CBRE's Jerry Roberts and Pat Boyle have been tasked to lease the office portion of the development.
