By AzBigMedia
We are halfway through the year 2017 and the Phoenix downtown and central corridor market continues to show an influx of commercial real estate property growth. Is 16th Street the new hub for commercial real estate development? Let’s take a moment to highlight what we do know.
The retailer, Target Corp. have a number of stores across the valley, but this “flexible-format” Target store has replaced the recently discontinued Sports Authority store on the southeast corner of 16th Street and Camelback Rd. This 50,000 square-footage property is slated to open in July 2017. The property size of this new location is a third of the size of a traditional Target store but because of its location, is expected to be a consumer attraction of the area. SVN Desert Commercial Advisor, Paul Borgesen III stated, “We are at the top of the market prices and numbers we have not seen in ten years.”
