The age of suburban sprawl has morphed into the age of urban infill. Phoenix is a prime market for infill, especially redevelopment opportunities, says CBRE's Jim Fijan.
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"The demand for redevelopment opportunities is very strong for quality infill sites," Jim tells us. Recently Jim and colleague Will Mast repped Phoenix-based Daily Double LLC in its sale of an infill site at 2801 and 2845 East Camelback Road to LaPour Partners and Holualoa Cos for more than $17M.
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The buyers plan Camelback Collective, a redevelopment project that will include a 120k SF office property and a 160-room boutique hotel by Marriott's AC Hotels line. The Camelback Corridor is one of the Valley's long-term employment cores, Jim says, and Camelback Collective will boost the area's amenity base, along with a much-needed new office building. CBRE's Jerry Roberts and Pat Boyle have been tasked to lease the office portion of the development.
