AZBigMedia
Colliers International in Arizona has released its Greater Scottsdale Airpark 2030 Report, which highlights market conditions and predictions for the popular Scottsdale Airpark submarket. The area is experiencing more mixed-use development, as well as significant renovation and redevelopment of its valuable property.
“The Scottsdale Airpark still has some runway left in this post-recession cycle,” says Jim Keeley, SIOR, CCIM, founding partner of the Scottsdale Office of Colliers International in Arizona. “The development community has demonstrated restraint during the past 10 years, avoiding an overbuilt situation during this strong cycle. Much of the investment dollars in this submarket have been applied to refurbishing, re-purposing and tearing down obsolete buildings for future development.”
Some of these renovated and re-purposed projects include YAM Circle, a new 17,800-square-foot shopping center at the corner of Hayden Road and Northsight Boulevard. This replaces the torn down former Harley-Davidson of Scottsdale site that was vacated when Harley-Davidson built the world’s largest dealership across the street in 2015. Texas-based At Home purchased and is redeveloping the former Sam’s Club on the east side of the Scottsdale Airport. Adjacent to this new At Home store will be a re-purposed 13.1-acre site. This former Whole Foods & Sports Chalet site will soon be home to a mixture of apartments, self-storage, retail and restaurants.
