{"id":1004053380,"date":"2011-07-17T15:17:46","date_gmt":"2011-07-17T23:17:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=9981"},"modified":"2022-12-07T22:58:13","modified_gmt":"2022-12-08T06:58:13","slug":"phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\/","title":{"rendered":"Phoenix Gearing up Retail and Office Markets with Major Deal in Scottsdale and Amazon\u2019s planned expansion"},"content":{"rendered":"<p>By Alex Girda, Associate Editor<\/p>\n<p>The largest commercial transaction in recent memory was perfected in Scottsdale when the Promenade traded hands from its unnamed seller to Excel Trust Inc. The seller was represented by Lucescu Realty, with the announcement of the move also being made by the California-based real estate company. Excel, a real estate investment trust from San Diego, bought the 51-acre property that sits at the corner of Frank Lloyd Wright Boulevard and Scottsdale Road for a fee of $110 million, the <em>Phoenix Business Journal <\/em>reports.<\/p>\n<p>The sale however, did not include The Great Indoors and Lowe\u2019s Home Improvement, that same article mentions. Excel got its hand on 433,533 square feet of mixed-use space that currently houses names such as PetSmart, Old Navy, Office Max, Trader Joe\u2019s along with several restaurants and Class A office space. After mediating this deal, Lucescu Realty announced that it has also opened a Phoenix office.<\/p>\n<p>Good news hit the city of Phoenix this past week with the announcement made by Amazon that it is seriously considering opening a fourth facility in the area. Fresh from gathering to celebrate a year after the opening of its third space in Phoenix, the Seattle-based giant manifested its intent on further expansion in the Valley, the <em>Phoenix Business Journal<\/em> reports. Amazon.com currently operates three facilities in the area, employs 3,000 and has 4 million square feet of space. A fourth complex would require an additional 1.2 million SF and would create hundreds of new jobs.<\/p>\n<p>The facility Amazon opened last year offers 1.3 million square feet at 5050 W. Mohave Street, and according to Robert Aris, the senior site manager quoted by <em>PBJ<\/em>, a 700,000 SF expansion is already planned. The other two sites also have expansion in the works with a 400,000 addition to 6835 W. Buckeye Road, and a 800,000 square-foot increase at their site at 16920 W. Commerce Drive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alex Girda, Associate Editor<br \/>\nThe largest commercial transaction in recent memory was perfected in Scottsdale when the Promenade traded hands from its unnamed seller to Excel Trust Inc. The seller was represented by Lucescu Realty, with the announcement of the [&#8230;]<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004053380","post","type-post","status-publish","format-standard","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Phoenix Gearing up Retail and Office Markets with Major Deal in Scottsdale and Amazon\u2019s planned expansion - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Gearing up Retail and Office Markets with Major Deal in Scottsdale and Amazon\u2019s planned expansion\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor The largest commercial transaction in recent memory was perfected in Scottsdale when the Promenade traded hands from its unnamed seller to Excel Trust Inc. The seller was represented by Lucescu Realty, with the announcement of the [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-07-17T23:17:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T06:58:13+00:00\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Phoenix Gearing up Retail and Office Markets with Major Deal in Scottsdale and Amazon\u2019s planned expansion\",\"datePublished\":\"2011-07-17T23:17:46+00:00\",\"dateModified\":\"2022-12-08T06:58:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/\"},\"wordCount\":324,\"commentCount\":0,\"articleSection\":[\"News\",\"Phoenix\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-gearing-up-retail-and-office-markets-with-major-deal-in-scottsdale-and-amazons-planned-expansion\\\/\",\"name\":\"Phoenix Gearing up Retail and Office Markets with Major Deal in Scottsdale and Amazon\u2019s planned expansion - 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