Phoenix, AZ - October 11, 2010 - Prime Spots: Executives who have followed the market for years readily point out pockets of opportunity - areas where low vacancy rates and stellar demographics pose unique opportunities.
Marty De Rito, whose firm, De Rito Partners Inc. is redeveloping Scottsdale Pavilions, is another developer looking for infill retail opportunities. "They're the only projects that have a chance of getting financing," he said.
Pederson said, "There are areas all over the Valley where an infill retail project would make sense right now."
Those areas include the Central Avenue corridor in Phoenix, downtown Tempe, and central and south Scottsdale, according to Pederson.
Pederson's company has been mentioned as a possible buyer for the Park Central Mall site in central Phoenix.
Green sees opportunities in Phoenix's Arcadia and Biltmore areas and in central Glendale.
Marty De Rito, whose firm, De Rito Partners Inc. is redeveloping Scottsdale Pavilions, is another developer looking for infill retail opportunities.
"They're the only projects that have a chance of getting financing," he said.
Jeff Moloznik, development manager for RED Development LLC's CityScape project, said, "There are so many great sites that got left behind with the push to the suburbs."
Like other retail developers, RED is now focused on infill and redevelopment projects.
The company is working to buy the retail component of the 40-acre Aspen Place at the Sawmill mixed-use redevelopment project near downtown Flagstaff and looking for other opportunities.
