Oxford Properties Group, a global real estate investor, developer and manager, announced that it has acquired a high-quality six-property, 460,000 sq. ft. light industrial portfolio situated within the Tempe and Airport submarkets of Phoenix, AZ. With this transaction, Oxford further scales its footprint in Phoenix up to 15 assets and approximately 1.2 million sq. ft., … [More]
Phoenix Advances 34-Acre Waste Recovery Campus to Extend Landfill Life
The Phoenix City Council on Nov. 4 approved terms for a 99-year ground lease and a 50-year waste supply agreement for the Resource Innovation Campus, a planned development where businesses can turn materials headed for the landfill into new products. The lease covers 33.9 acres near 35th Avenue and Elwood Street in south Phoenix, with about 22 acres slated for development. RIC … [More]
Seven Grocery-Anchored Arizona Shopping Centers Sell for $108.7M
JLL Capital Markets announced the $108.7 million sale of Arizona Grocery Portfolio, a seven-property, 422,949-square-foot grocery-anchored retail portfolio located across Phoenix and Tucson, Arizona. JLL represented the seller, A&C Properties Inc., in the transaction. 11North Partners acquired the asset. Working on behalf of the new owner, JLL also arranged $66.36 million … [More]
Casa Grande Lease-Up Highlights Growth along Phoenix–Tucson Industrial Corridor
The Phoenix Office of JLL announced that it has signed the final lease at KV Casa Grande, bringing the newly constructed, Class A Central Arizona industrial development to fully leased. A project by Kentwood Ventures, KV Casa Grande’s leasing pace reflects a rising demand for Class A industrial space in outlying submarkets as metro Phoenix industrial activity continues to … [More]
Data Center Growth Drives Electrical Contractor’s 94,000-SF Chandler Lease
Ryan Companies US, Inc. together with Principal Asset Management, announces it has secured major leasing commitments at Queens Crossing at Chandler Airpark, a Class-A industrial business park totaling 437,547 square feet across three buildings in Chandler, Arizona. Building A, encompassing 94,072 square feet, has been leased in its entirety to OEG, a premier electrical and … [More]
$372M Scottsdale Resort Sale Closes at $104M above 2022 Purchase Price
Braemar Hotels & Resorts Inc. has completed the $372 million sale of the 210-room Four Seasons Resort Scottsdale at Troon North to global investment firm Sixth Street, closing a transaction that will help fund the seller’s separation from its external advisor, Ashford Inc. The price amounts to approximately $1.8 million per room. The closing follows the sale agreement … [More]
Global Golf Management Firm Completes 60,510-SF Headquarters Buildout in Scottsdale
Wespac Construction has completed a 60,510 SF corporate workplace for Troon at Kierland II in Scottsdale, Arizona. Located on the building’s fourth floor, the new space brings together executive, meeting, collaboration, and employee areas designed around Troon’s day-to-day operations and long-term workplace needs. Wespac served as general contractor for the project, working … [More]
Southwest Valley Cultural Hub Completed
Built by McCarthy Building Companies, the Hilltop Theatre and Concert Hall recently opened on the Agua Fria Union High School District’s new School for the Arts campus in Litchfield Park. The new cultural and educational hub for the Southwest Valley includes a 34,034-square-foot venue featuring a 750-seat theatre, a grand lobby with art gallery and a two-story backstage area … [More]
Reshaping Roosevelt Row
Intersection Development, a Phoenix-based real estate development firm, will break ground on SISU Roosevelt and Arcada on Friday, Nov. 6. Together, the projects represent more than $70 million in investment, pairing 125 new residences with the preservation and reuse of historic buildings for Clive Collective’s latest dining concepts. Designed by räkkhaus, SISU takes its name … [More]
The Risks of Letting Culture Take a Back Seat to Construction Demand
Across Arizona, demand for large-scale industrial projects is accelerating, requiring construction firms to scale quickly. In that pressure-cooker environment, culture can feel secondary to schedules and project delivery. The challenge is growing the workforce, onboarding new teams and maintaining operational speed without losing the values, communication and accountability … [More]
