Iconic Esplanade Campus Announces $45 Million Capital Plan

inbusinessPHX.com

The ownership of the Esplanade office buildings have announced plans to fully renovate and upgrade the renowned and prestigious four building campus. Located at 2425, 2525, 2575, and 2555 E. Camelback Rd. in the Biltmore area, the $45 million project will add approximately 30,000 square feet of new amenity space and overhaul the existing buildings. Construction is expected to … [More]

Optimizing HVAC Systems – Decarbonize Building Operations, Save on Operating Costs

by Michael Daly

With current and upcoming carbon footprint reduction requirements aimed at reducing greenhouse gas emissions, now is an excellent time to look at simple ways HVAC systems can contribute to building decarbonization goals while simultaneously lowering energy costs. The Refrigerant-Oil Relationship Before we can discuss solutions to enhancing the sustainability of HVAC systems, … [More]

Phoenix Gains Mixed-Income Housing Development

by Mike Hunter

Soluna Apartments is the first Choice Neighborhoods mixed-income housing development in the Edison-Eastlake Community. Holding its grand opening in October, Soluna features 177 modern, energy-efficient units ranging from one to five bedrooms. The community is designed to provide quality living at an affordable cost, with 80% of units offered as affordable housing and 20% of … [More]

What the Development of Teravalis Means for Buckeye

by Heath Melton

In the not-so-distant future, the Phoenix West Valley will look dramatically different from how it does today, thanks to Arizona’s largest master-planned community: Teravalis. The Howard Hughes Corporation recently broke ground on the 37,000-acre project of Teravalis, formerly known as Douglas Ranch, located in north Buckeye between the White Tank and Belmont mountain … [More]

Caliber Focuses on Mesa’s Downtown Revitalization

by Mike Hunter

Part of Caliber’s ongoing redevelopment efforts in downtown Mesa is its recent lease to ZenniHome, which will be installing 90 ZenniHome units at 29 West Main Street. This innovative company was founded in 2019 to bring viable solutions to the housing industry shortage, designing and factory-building their model homes — constructed with a minimal environmental footprint — to be … [More]

Attainable Housing Development Begun in Downtown Tempe

by Mike Hunter

Construction will begin soon on Dwell: A Work @ Home Community, among the existing Farmer Studios buildings. Developer Holualoa companies conceived Dwell to be a combination of flexible workspace and apartments for urban professionals, priced for people making 80 to 120% of the average median income in the Valley. According to the company, the project is designed to address the … [More]

Luxury Build-for-Rent Community Planned for Southeast Valley 

by Mike Hunter

Scottsdale-based developer Empire Group recently closed on a 27-acre parcel near the foothills of the San Tan Mountains for approximately $13.8 million. Plans for the land are now underway for a build-for-rent gated community called Village at Borgata within the master-planned Borgata at San Tan, which is a total of 100-acres that will include mixed-use commercial, apartments, … [More]

Investment Firm Acquires Kierland 2 in North Scottsdale

inbusinessPHX.com

Vero A2R, the Dallas-based office investment platform of Vero Capital (formerly Admiral Capital), announced the acquisition of Kierland 2, and the contribution of Kierland 1 from affiliated funds to create a 410,000-square-foot Class A office campus in the North Scottsdale submarket of Phoenix, Ariz. Vero A2R plans to deploy over $29 million in capital improvements … [More]

Workspace Opens as Opportunity Zone Growth Continues in Downtown Mesa

inbusinessPHX.com

Caliber, a fully integrated alternative asset manager and Opportunity Zone investor, and flexible workspace leader Expansive® today announced the opening of Expansive Mesa at Newberry Station at 114 West Main in Mesa, AZ. Opened in partnership, this 20,000 square foot workspace is poised to play a key role at the heart of Mesa's burgeoning Innovation District. Featuring private … [More]

Joint Venture Partnership Buys 382-Unit Garden Apartment Building in Phoenix

inbusinessPHX.com

FCP and joint venture partner Avanti Residential announce the $65 million acquisition of Omnia on Thomas, a 382-unit garden apartment community at 1645 E. Thomas Road in Phoenix, AZ. Omnia on Thomas represents FCP's third multifamily investment in Phoenix and the second time partnering with Avanti after an initial joint venture in Colorado earlier this year. "FCP is excited … [More]

Master Builder Opens New Luxury Detached Rental Homes in Laveen

inbusinessPHX.com

Mark-Taylor Residential, the premier multifamily housing management firm in Arizona and Nevada, announces the grand opening of Sanctuary on 51st, a new single-family luxury rental home community in Laveen, Ariz. Located at 7100 South 51 Ave, Sanctuary on 51st is nestled between the Sonoran Desert and Rogers Ranch neighborhood. With numerous Phoenix-area hot spots nearby, … [More]

San Francisco-Based Investment Firm Acquires Apartment Property in Phoenix

inbusinessPHX.com

San Francisco-based real estate investment firm Hamilton Zanze is excited to announce the purchase of Crestone at Shadow Mountain, the firm's 25th acquisition in the state of Arizona. The company closed the deal on the 248-unit apartment property on November 15, 2022. CBRE's Sean Cunningham, Asher Gunter, Matt Pesch and Austin Groen of Phoenix Multifamily Institutional … [More]

Phoenix City Council Approves Metrocenter Redevelopment

inbusinessPHX.com

By a 6-2 vote, Phoenix City Council has passed the last required vote for Metrocenter to enter into redevelopment. Almost 50 years ago Metrocenter Mall opened its doors, and for many Phoenicians served as the backdrop for their formative years. Housing five department stores, a food court and an indoor ice rink during the winter months, Metrocenter Mall was a crown jewel … [More]

Downtown Mesa Revitalization Efforts in Full Swing with More Businesses Moving In

Rick McCartney

Caliber, a fully integrated alternative asset manager and Opportunity Zone investor, has announced that it has leased three more of its properties in Downtown Mesa as part of the Company’s ongoing redevelopment efforts in the city. ZenniHome will be installing 90 ZenniHome units at 29 West Main Street. This innovative company was founded in 2019 to bring viable solutions to … [More]

New Attainable Housing Development ‘Dwell’ Begins Construction on 129 Downtown Tempe Units

inbusinessPHX.com

Construction will begin soon on Dwell: A Work @ Home Community. The development by Holualoa Companies is located at Fifth Street and Farmer Avenue. Units will be priced for people making 80 to 120% of the average median income in the Valley. The Tempe project will be constructed among the existing Farmer Studios buildings in the first in what is envisioned to be a series of … [More]

Construction of Phoenix Industrial Space Hits 40.9 MSF

inbusinessPHX.com

The amount of industrial space under construction in Greater Phoenix hit 40.9 million square feet at the end of third quarter 2022, indicating the furious pace that developers have taken to satisfy historic demand in the marketplace.  While construction levels have risen, so have rental rates with a remarkable 22.9 percent increase from a year ago. Net absorption of … [More]

New Luxury Build-for-Rent Community Planned for Southeast Valley Master Plan

inbusinessPHX.com

Scottsdale-based developer, Empire Group recently closed on a 27-acre parcel in San Tan for approximately $13.8 million. Plans for the land are now underway for a build-for-rent community called Village at Borgata. Village at Borgata will be situated at the Southwest corner of Hunt Highway and Thompson Road near the foothills of the San Tan mountains. Village at Borgata will … [More]

Peoria-Based Healthcare Real Estate Firm Rebrands

inbusinessPHX.com

Fresh off the celebration of its fifth anniversary, Wakeman Integrity is now Integrity CRE and its West Valley office continues to grow. Founded in 2017 by Melynn Wakeman, the Company President, Integrity CRE is a woman-owned commercial brokerage firm specializing in healthcare real estate. In addition to its recent rebrand and growth news, Integrity CRE is representing … [More]

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