GTIS Partners Closes on Third Build-to-Rent Project in Phoenix Market

inbusinessPHX.com

GTIS Partners LP, a real assets investment firm that manages in excess of $4 billion in gross assets with a focus on residential and industrial investments, today announced closing on Cotton Lane, a 13-acre site fully-approved for 144 build-to-rent units, located in Glendale, AZ. The Project will be developed in-house by GTIS with Sonoma Communities, a Phoenix based developer, … [More]

Rehabilitation Hospital Breaks Ground in Peoria

inbusinessPHX.com

Adolfson & Peterson Construction, a top national construction management firm and general contractor, and Reunion Rehabilitation Hospitals, a system of state-of-the-art inpatient rehabilitation hospitals, today announced the groundbreaking of a new location in Peoria with support from America Development & Investments LLC, a leading healthcare real estate developer … [More]

First Phase of Multifamily at City North Begins with the Groundbreaking of New Development

inbusinessPHX.com

Rental housing industry leader, Greystar, recently broke ground on the first phase of their multifamily housing development at City North in Phoenix, Ariz. This marks City North's first vertical element in the 100-acre project located just north of Interstate Loop 101 at the intersection of 55th Street and City North Drive in North Phoenix. Crown Realty is the … [More]

HelloFresh Subsidiary Factor Signs Full-Building Lease in Goodyear

JLL

HelloFresh’s subsidiary Factor, America’s leading fully prepared meal delivery service, completed a 300,100-square-foot lease in Goodyear. The lease is at Yuma|143, a still-under-construction, Class A, two-building industrial project being co-developed in Goodyear, Arizona by Chicago-based Baker Development Corporation (BDC) and New York’s Foundation Capital Partners (FCP), … [More]

Leading Industrial Developer and Investor Makes Push Into Fast-Growing Mesa

inbusinessPHX.com

Capping an extraordinarily productive year, New York-based Wharton Industrial announced today that it has acquired a 101-acre parcel of land in Mesa, Arizona. The company plans to invest over $200 million into the site to develop an 11-building, 1.5 million-square foot Class A industrial park, to be known as ‘The Hub@202’. The buildings will range in size from 65,000 square … [More]

Phoenix CRE Market Update: Office Occupancy on the Rise

by Adriana Marinescu

November was another good month for the Greater Phoenix market as office vacancy once again trended downward. According to CommercialEdge data, average vacancy decreased to 14.7 percent, marking a 250-basis-point drop year-over-year. By comparison, the national rate stood at 15.2 percent, 140 basis points higher than recorded in November 2020. As vacancy dropped, … [More]

High-Tech Two-Story Office Building in Scottsdale Is First Project to Kick Off New Year for LGE Design Build

inbusinessPHX.com

Kicking off the New Year, full-service commercial general contractor and in-house architecture firm LGE Design Build recently broke ground on the new office for the premiere workplace technology company Immedia. The two-story, 32,000 square-foot office building will stand at Bell Road and 82nd Street in Scottsdale. The office design features exciting and modern design … [More]

Expansive Development with Major Retailers, Restaurants and Entertainment Coming to Surprise

inbusinessPHX.com

SimonCRE, a national commercial real estate acquisition and development company, announced that it is developing Village at Prasada, the West Coast’s first major power center in over a decade. Located in Surprise, Ariz., one of the fastest-growing suburbs of metro-Phoenix, Village at Prasada will bring more than 700,000 square feet of shops, a restaurant row, and entertainment … [More]

Abrazo Health Acquires Land for New Medical Campus Near Verrado

Abrazo Health

Abrazo Health has acquired property to develop a medical campus on 27 acres near the southwest corner of I-10 and Verrado Way. The initial phase of the development is expected to break ground in 2022. Plans for the campus include a medical office building, ambulatory services and an acute care hospital. Abrazo Health anticipates that its new medical campus will be a health … [More]

COP26 – Strategies for Decarbonization and Impact on the Built Environment 

by Johanna Collins

It is a known fact that there is a direct relationship between carbon dioxide emissions and global warming, and the real estate industry makes up 49% of global carbon emissions when accounting for construction and building performance. It is of great importance, therefore, to get to zero.  At COP26 – UN Climate Change Conference, Gensler announced its green materials … [More]

Predictions for the Phoenix Multifamily Market in 2022

by John Kobierowski

Phoenix real estate is on fire, and multifamily investments have enjoyed a year of unprecedented growth. The key drivers generating the tremendous sales volume of apartment buildings in the Valley last year are expected to continue into 2022, making the outlook for Phoenix multifamily incredibly positive. The No. 1 driver of the Phoenix multifamily real estate market is the … [More]

New Boutique Hotel in Old Town Scottsdale

by Mike Hunter

On the site where once sports fans crowded the hallways or gazed from their tables to revel in the sports memorabilia mecca that was Don & Charlie’s steakhouse, Opwest Partners and Argosy Real Estate Partners last month opened the doors to Senna House. It is the first new hotel to open in the Scottsdale Entertainment District in 13 years. “Senna House has been in the … [More]

Flexibility Designed into Fully Spec Industrial in Gilbert 

by Mike Hunter

Developers GID and SunCap Property Group recently broke ground on the next major stage of development at Gilbert Spectrum: three brand new, fully speculative, Class A industrial buildings. “The Phoenix industrial market has been on a growth streak since before the start of the pandemic,” says Rusty Martin, operations manager of the Southwest Division at Graycor Construction  … [More]

Build-to-Rent in Avondale 

by Mike Hunter

Scottsdale-based Empire Group of Companies, a leader in mixed-use high-rise and build-for-rent development, recently broke ground on a build-for-rent community in the West Valley. The Village at The BLVD will include 187 single-family homes for rent within the gated community located in Avondale, just west of Avondale Blvd. on the southwest corner of 111th Avenue and Roosevelt … [More]

Sustainable-Living, Opportunity-Zone Development in Tempe 

by Mike Hunter

Milhaus, a national award-winning developer, owner and operator of Class A multifamily properties, has closed on its second residential apartment development in Tempe, Arizona. The $56-million Qualified Opportunity Zone development located at 2119 E Apache Blvd. will offer 219 studio, one- and two-bedroom apartment units and five live-work spaces.  The complex will be … [More]

Class A Multifamily for Avondale

by Mike Hunter

Scottsdale-based Sterling Real Estate Partners recently acquired 9.6 acres of land with plans to develop Crystal Cove, a 238-unit, Class A apartment complex in the heart of Avondale’s rapidly expanding community. The land is located in a Qualified Opportunity Zone, which provides for significant tax benefits to investors and will deliver additional multifamily housing to the … [More]

Real Estate Equities Closes on First Affordable Housing Development in Arizona

Real Estate Equities

Real Estate Equities successfully closed on Copa Flats in Maricopa AZ. Copa Flats will be an amenity-rich family affordable housing development affordable to those making 60% of Area Median Income or less. It is well-located in the City of Maricopa near retail, restaurants, and recreational opportunities. The 312-unit project, comprised of one, two, and three-bedroom … [More]

54-Acre Industrial Logistics Park Planned in Buckeye, AZ

inbusinessPHX.com

SVN Desert Commercial Advisors completed the sale of an approximately 54-acre industrial development site in Buckeye at the southeast corner of Southern Ave. and Rainbow Rd. within the Buckeye Rail Corridor. The property was acquired from KWC Motorsports LLC, for $6,525,000 by Buckeye 54 LLC, a Joint Venture formed by Contour Real Estate and Shopoff Realty Investments … [More]

El Mirage Land Purchased to Be One of the Largest Industrial Parks in Arizona

CBRE Group

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the acquisition of 961 acres of land in El Mirage, Ariz., a suburb of Phoenix, which will be developed into one of the largest industrial parks in Arizona’s history, with initial development … [More]

Commercial Real Estate Investment Firm Acquires Its Seventh Property in Phoenix

Tower 16 Capital Partners

San Diego-based Tower 16 Capital Partners has acquired Park 67 Apartments, a 160-unit multifamily property located in Glendale, Ariz., for $30.4 million. The Park 67 Apartments project was built in 1973 and was acquired from a private seller. “This acquisition marks our seventh property acquired in the Phoenix market and increases our foothold in the Phoenix area to nearly … [More]

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