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Archive for March, 2011

New Mall Planned in Goodyear

Wednesday, March 16th, 2011

By the end of 2011, you can expect to find a new and exciting mall beginning development in Goodyear, Arizona. As reported by Shopping Center Today and the International Council of Shopping Centers, Macerich plans to break ground on their latest project by the end of this year for a new regional mall, outlet center. Plans include three department store anchors, and the mall is expected to open in 2014.

Phoenix office space for rent is one of the chief businesses in the world of commercial real estate, but regional malls provide an important cultural forum for the general public to gather, shop, and socialize. Did you know that Arizona is home to several notable malls that are recognized nationwide?

1. Scottsdale Fashion Square is the largest shopping mall in Arizona, as well as the American Southwest, giving it the distinction of being one of the top 30 largest mall sin the country. Plus, it is reported to be one of the top 10 most profitable malls in the country with over $740 sales per square foot. Also owned by Macerich, the mall is known for its high-end retailers and is regarded by many fashionistas as the premier shopping destination in the Phoenix area.

2. Biltmore Fashion Park is located in Phoenix and spans over an open-air park with winding walkways, romantic landscaping, and beautiful fountains. It has been the premier shopping location for many Arizona residents for decades and provides upscale shopping destinations, as well as more accessible retailers and dining locations.

3. Desert Ridge Marketplace is a 110-acre outdoor mall that provides countless entertainment opportunities. Located in Phoenix, the distinctive mall features staple stores like American Eagle Outfitters and Pier 1 Imports, but it also hosts a variety of other attractions like a movie theater, rock-climbing wall, and large entertainment center.

At Camroad Properties

Are you interested in learning more about how you can benefit from Phoenix office space for rent? Contact a representative at Camroad Properties today. Our team of qualified business professionals are fully aware of the ins and outs of the office space industry and can help you find a property that will work for you.

 

Senate Bill 1001 Benefits Businesses

Sunday, March 13th, 2011

Governor Jan Brewer and lawmakers announced a package of tax cuts and various incentives that they feel will help bring about a wave of economic prosperity for Arizona. The emphasis in this package is less on housing growth and more on high-paying, skilled jobs by providing tax breaks and incentives for small and large businesses.

Called Senate Bill 1001, the legislative budget office estimated that it would cost $538 million by 2018 when all of the tax cuts are phased in. While there are no guarantees that these developments will create a sudden boom of economic activity, the moves are necessary to help boost Arizona’s economy.

The bill carries with it some promising proposals, namely lower tax rates to attract new business investments to make up for lost revenue. This would create a more positive business environment for entrepreneurs and business owners, encouraging more people to make the move into the state, providing both jobs and revenue.

The changes to business personal property tax encourages the development of new investment next year. As an example of some of the benefits of the bill, small businesses will be able to write off equipment purchases faster, allowing them the ability to buy more than previous years.

What’s more, the equipment-depreciation schedule would be accelerated and assessment rates would be reduced, giving businesses an instant edge. For Phoenix offices, this bill makes owning and leasing a business more advantageous, particularly since it creates a more workable business climate. Cities like Phoenix and Tempe have been praised for their business owner-friendly environment, but tax incentives like the ones outlined in the bill makes owning Phoenix offices even more look even more advantageous and encourages the growth of big and small businesses alike.

At Camroad Properties

Are you interested in learning more about how you can benefit from Phoenix offices? Contact a representative at Camroad Properties today. Our team of qualified business professionals are fully aware of the ins and outs of the office space industry and can help you find a property that will work for you.

 

NAIOP Reveals Center for Education

Thursday, March 10th, 2011

The NAIOP recently revealed The Center for Education, a source of industry education for professionals in commercial real estate. The Center is heralded as a resource for “first-rate education developed to teach the core competencies that NAIOP members have identified as being essential to success.”

Its Mission

Created for professionals pursuing comprehensive industry education, the Center will offer programs on relevant topics in both online and classroom settings to accommodate the learning styles and preferences of its student body while providing them with the opportunity to enhance their knowledge of the industry.

The Center is just another example of the prospering nature of commercial real estate. Office space in Phoenix is sitting in the middle of an exciting time with building innovations and an environmentally-friendly green movement; now, professionals are being given a new resource designed to make them more knowledgeable individuals. This results in commercial leases better suited to the needs of you and your business. Office space in Phoenix is located in a valuable area that is experiencing a boom of entrepreneurial activity and metropolitan development. For this reason, your AZ commercial lease deal is best handled under the care of an experienced commercial real estate professional.

At Camroad Properties

Are you interested in learning more about how you can benefit from office space in Phoenix? Contact a representative at Camroad Properties today. Our team of qualified business professionals are fully aware of the ins and outs of the office space industry and can help you find a property that will work for you.

 

President Obama recently announced that he will back new tax incentives and government financing designed to encourage buildings to become more energy efficient. By doing this, buildings will cut energy costs and encourage job growth.

Obama is requesting Congress to create a credit within the existing tax deduction for commercial building upgrades that would make energy-efficient building changes more attractive for owners. Estimates state that buildings and business owners could save about $40 billion a year by investing in energy-efficient improvements, a figure that is very promising in our recovering economy.

Obama’s announcement is applauded by the NAIOP, the Commercial Real Estate Development Association, a group that advances responsible commercial real estate development and effective public policy. NAIOP president Tomas J. Bisacquino released a statement in February stating that the NAIOP and its members are “encouraged by President Obama’s proposal of new efforts to improve energy efficiency”.

For the owner of an AZ commercial lease, these developments mark a great improvement in Arizona’s economic climate and environmental impact. Building owners will better be able to retrofit their buildings to be more energy efficient thanks to the proposed competitive grant program and tax incentives. What’s more, this proposal extends beyond the world of the AZ commercial lease and can make a difference for schools and hospitals.

The specifics of this plan have yet to be released or examined, but the industry is excitedly looking towards the opportunities that the proposal brings with it.

 

     

As dedicated commercial real estate professionals, all of us at Camroad Properties pride ourselves on operating office buildings to the highest industry standards. This translates into consistently high occupancy rates, and tenant retention rates averaging over 80% in all of our Arizona commercial real estate properties. As local owner-operators, you can rely on Camroad Properties to provide the best leasing opportunities for quality office space in Phoenix, Mesa, and Tempe. Our knowledge of Arizona commercial real estate and our ability to react promptly to our clients' office space requirements is our specialty. We can customize office suites to fit any of your commercial real estate needs.
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