The rise of empirical retail development continues to emerge in the Arizona commercial markets.
A distant memory of land-filled dirt, deserted streets, and minimal economy will now just be another page in the Arizona history books. It will illustrate how developers, property owners, and commercial real estate brokers met the demands for demographically driven consumers to create a new metropolis for urban city life. Although e-commerce has gained significant momentum in recent years, industry professionals have used their expert knowledge in the market by building desirable lifestyle and trendy entertainment retail centers all across the valley.
The restaurant and retail industry is an unremitting evolution as we continue to observe the innovative and unique culinary enterprises opening in the valley. Phoenix was listed in the Top 10 “Rising Star” Foodie Destinations with the likes of Chris Bianco’s, Pizzeria Bianco in Phoenix, known to foodies to have the best pizza in the U.S.; Taco Guild’s unique location in an old church and Sam Fox’s creation of True Food Kitchen for clean and healthy options. In addition, more out-of-state restaurant concepts are making their way to Arizona for expansion because lease rates are steady and timing is imminent.
The bottom line is e-commerce will fall short to the dining and entertainment experiences that consumers tend to physically enjoy. As a result, the economic and cultural centers for retail development have been profoundly influenced by “The Experience.” SVN’s, Desert Commercial Advisors and the Director’s of Retail Leasing & Investment Sales, Rommie Mojahed and Mary Nollenberger have been detrimental to the growing developments across the valley, including the locally owned and nationally recognized, Blue 32 Sports Grill by CNN as the “Top 101 of the best sports bar in the U.S.” The directors of the SVN retail team just leased their 4th location in the 4,800 square-foot space at the new upscale lifestyle & entertainment retail center, Chandler Crossings.