Family Construction Co. Rebrands after 30 Years, Looks Ahead to What’s Next

A new company name. A new brand.  A new team of leaders. After 30 years, still – and always – a family business. Historically known as an industrial new-build firm, Renaissance Construction – formerly Renaissance Companies – is rebranding and shifting its focus to encompass business on both ends, new-build and tenant improvements, among several market types, to support its … [More]

Unconventional Marketing Results in Sale of Two Properties, Arizona Opera Gets Housing for Musicians

SVN Desert Commercial Advisors is excited to announce the sale of two Multifamily properties in Phoenix, AZ. Carrick Sears and Royden Hudnall utilized co-operative marketing and market knowledge to secure the sale of both unique properties in under 90 days. Palm Lane Apartments was sold for 6.5% over list price, a remodeled property in turn-key condition. The 12-unit … [More]

Tech, Logistics Companies Dominate Pre-Leases at Downtown Tempe Property

Months before its heavily amenitized, experiential office project, Arbor, is slated for completion, Phoenix-based developer George Oliver is already amassing pre-lease commitments. Dominated by tech and logistics entities, Arbor’s lease cadence is notable within a metro Phoenix office landscape that is slowly coming back to life following the COVID-19 pandemic. Located in … [More]

Homebuilder Debuts 12 New Community Model Homes in Gilbert

Tri Pointe Homes®, a recognized leader serving the Phoenix market for more than 30 years under the name Maracay®, has announced the opening of 12 new model homes and two new home galleries at Waterston North, a new 485-home community located in the southern part of Gilbert in Phoenix’s coveted East Valley area. Customers can now make an appointment to tour the model homes – two … [More]

Redevelopment of the Iconic Papago Plaza in South Scottsdale Takes Shape

The redevelopment of the iconic mixed-use Papago Plaza, recognizable to many long-time area residents for its Pueblo-style design dating to the 1960s, is taking shape as the area’s demographics are growing and the plaza generates strong interest with multiple offers from restaurateurs and retailers. Acquired by Scottsdale’s Pivot Development in 2015, Pivot has been exploring … [More]

$850 Million Build-to-Rent Joint Venture Announces Nine Asset Closings since Inception

Scottsdale-based Taylor Morrison Home Corporation, a leading national land developer and homebuilder, and Värde Partners, a leading global alternative investment firm, are pleased to share that they have quickly scaled their Build-to-Rent joint venture. In the first several weeks since the venture's inception, it has closed on nine assets across Texas, Florida, North Carolina … [More]

46-Acre Property Closes, Construction of Class A Industrial Park to Start Aug 2022

Mohr Capital, a Dallas-based privately held real estate investment firm, acquired 46.26 acres in one of Arizona’s fastest-growing cities to develop Summit Business Park, a Class A industrial business park in the West Valley. Summit Business Park will offer a combined space of 704,472 square feet of leasable industrial space with 453,960 square feet in Building 1 and 250,512 … [More]

Central Phoenix Affordable Housing Complex Receives Final Funding

The final two phases of Acacia Heights, an affordable housing apartment complex at 7th Ave. south of Camelback that, at completion, will include 212 units, have received funding. Construction on Acacia Heights Phase Two is expected to start this fall and be completed by the end of 2023. Acacia Heights Phase Three will break ground in the fall of 2023 and will be completed by … [More]

Partnership Acquires 301-Unit Phoenix Retirement Community, Accelerates Operations in Arizona

Link Senior Development and The Roxborough Group, LLC announce the acquisition of Park Terrace Senior Living, an amenity rich, 301-unit independent living and assisted living community in Phoenix, Arizona. "Park Terrace is an exciting venture for Link as we plan for the next chapter of this thriving community by pulling from our extensive experience developing and operating … [More]

YES Signs Lease for Technology Center in Chandler, Creating Nearly 100 Jobs

Yield Engineering Systems, known by the acronym YES, has leased 123,000 square feet within the Price Corridor in Chandler, Arizona. The facility will support YES in serving the region’s thriving semiconductor industry. YES develops and manufactures thermal, deposition, and wet process equipment that is used in semiconductor, life sciences, and display manufacturing. The … [More]

Game-Changing Phoenix-Based Development Group Purchases First Property, Goal to Better Serve Communities

Thrive Development Group, based out of Phoenix, Arizona, recently purchased The Shops at Apache Junction, located at 185 W. Apache Trail. This is the commercial developer’s first commercial real estate purchase since it started in March of this year. The Shops at Apache Junction, which was built in 1998, was previously owned by War Chest Real Estate, LLC. This retail center … [More]

Indianapolis-Based Real Estate Co Buys 68 Acres in Queen Creek for Industrial Development

Thompson Thrift Commercial, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the acquisition of approximately 68 acres of land zoned for industrial development, just west of the southwest corner of Germann Road and Meridian Road in the Phoenix suburb of Queen Creek. "We are thrilled to grow our presence in the booming Queen Creek area," said … [More]

Opportunity Zone Investor Continues Redevelopment Efforts in Downtown Mesa

Caliber, an Opportunity Zone investor, announced that it has leased two more of its properties in Downtown Mesa as part of the Company’s ongoing redevelopment efforts in the city. Level 1 Arcade Bar will be moving into 48 W. Main Street, bringing a family friendly environment for all ages to enjoy a retro arcade experience with fully restored arcade and pinball machines … [More]

Fairmont Hotels & Resorts Adds Luxury Hotel and Residences in Downtown Phoenix

Fairmont Hotels & Resorts, part of world leading hospitality group Accor, together with Thunderbird Legacy Development, announced the signing of definitive agreements for the development and management of a new Fairmont Hotel and Residences in downtown Phoenix. Scheduled to open in early 2025, Fairmont Phoenix will offer a luxury hotel and residential experience unlike … [More]

Cleveland Investor Buys Multi-Tenant Property with Major Healthcare Co. as Key Tenant

Cushman & Wakefield announced the firm has brokered the sale of Optum Center, a five-story 81,907-square-foot Class A multi-tenant office and medical building in Phoenix, Arizona. Located at 20414 North 27th Ave, the property also includes a five-and-a-half level parking garage on site. The building was 94% leased at sale, with UnitedHealthcare being a main tenant of the … [More]

Population Growth and Office Construction Are Thriving Together

by Ioana Ginsac

The last 10 years have brought about many challenges, beginning in the depths of the financial crisis and culminating with the beginning of one of the worst global health crises in a century that has affected every single part of everyday life — especially how and where we work. Yet, data shows that cities are still growing. They’re the place to be for work, play and growing … [More]

Phoenix Is the Next Area of Opportunity for Chicago-Based Development Group

by Jonathan McCulloch

The Phoenix metro area is home to some of Chicago’s greatest exports — Chicago Cubs Spring Training, Portillo’s and Lou Malnati’s Pizzeria, to name a few. Soon, Phoenix will also be home to Belgravia Group’s first out-of-Chicago development — Portico. It’s a monumental and exciting move for the 70-plus-year-old luxury development firm — and a natural one. Belgravia Group’s … [More]

Upscale Retail Town Center for Verrado

by Mike Hunter

A major retail center is due to start taking shape mid next year at the Verrado development in Buckeye. DMB Associates, the master developer of the 8,800-acre Verrado master-planned community, is partnering with Vestar, the largest privately-held shopping center owner, developer and manager in the western United States, to create a dynamic retail center. Verrado Marketplace … [More]

Dominium Addresses Area’s Affordable Housing Need

by Mike Hunter

With the grand opening last month of Solstice of Mesa, Dominium celebrated its first new construction project in Arizona — a 289,840-square-foot, 237-unit apartment complex for seniors earning no more than 60% of area median income. Located at Hawes and Broadway roads, the project is already 100% leased due to need in the area. Tofel Dent Construction of Tucson was the … [More]

Lincoln Property Co. Readies Next Phoenix Mega Project

by Mike Hunter

LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has completed a $53 million, 140-acre land acquisition in Glendale, Arizona, for its next mega metro Phoenix industrial project, Luke Field. The $515-million, 2.3-million-square-foot development is bordered by Litchfield Road, Northern Avenue, the new Northern Parkway and Luke Air Force Base. It is minutes … [More]

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