Tuesday, September 29, 2020 12:06 am

Commercial real estate development in Arizona sees signs of a new approach

By Steve Burks | AZBigMedia

In Arizona, the evolution of commercial real estate development isn’t found in brand new residential towers in Central Phoenix or 1 million-square-feet warehouses in the West Valley. The future of commercial development is going on in well-known locations that are just getting a fresh set of eyes on them.

At the 15th annual ULI Arizona Trends Day on February 26 at the J.W. Marriott Phoenix Desert Ridge Resort, one of the marquee discussions of the day was the panel titled, “The Future of Commercial Development.” The panel, moderated by Betts Real Estate Advisors Founder Steve Betts, included some well-known faces in the world of commercial real estate in Arizona. Developers like David Krumwiede, executive vice president at Lincoln Property Company; and Sharon Harper, president and CEO at Plaza Companies have brought to market high-profile, high-value developments like The Grand and SkySong. Also on the panel were David Scholl, partner at Vintage Partners, and Keri Silvyn, partner and owner at Lazarus & Silvyn, P.C.

The future of commercial development is in places like Park Central, where Harper and Plaza Companies have converted an old retail center, once the heart of Central Phoenix, and turned it into a true mixed-use destination.

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