Sun State Builders completes construction on 1.2 million square-foot tenant improvement two months ahead of schedule. The office/warehouse for WPT Capital Advisors and Logistics Plus, named Logistics Plus PHX 2, is situated on seven acres at the northeast corner of Loop 303 and Bethany Home Road in Glendale. Construction began in March 2024 and was originally slated for … [More]
Developer Delivers Biltmore-Area Luxury Office Redevelopment
Phoenix-based developer George Oliver has completed its Bond office redevelopment in the heart of the Camelback Corridor, delivering a market-leading amenity package in what the company considers its most ambitious metro Phoenix office transformation to date. Located at 3200 E. Camelback Rd., Bond sits on the landmark corner of 32nd Street and Camelback Road in Phoenix, … [More]
Investment Co. Sells Expansive Phoenix Area Resort for $865M
Trinity Investments, a U.S.-based hospitality-focused real estate investor, announced the sale of the JW Marriott Phoenix Desert Ridge Resort & Spa, a 950-room hotel and the largest resort in Phoenix, for $865 million to Ryman Hospitality Properties, Inc.. Trinity acquired the asset in 2019 for $602 million, with financial backing from Elliott Investment Management. In … [More]
CRE Co. Brokers $137M Luxury Multifamily Property Sale in Chandler
Institutional Property Advisors, a division of Marcus & Millichap dedicated to serving the company’s institutional clients, announced the sale of Zaterra, a 392-unit multifamily property in Chandler, Arizona. The asset traded for $137.5 million, or $350,765 per unit. “Chandler is among the highest barrier to entry submarkets in the Phoenix metro and Zaterra is one of … [More]
Optima Launches Sales for First Tower at $1B North Scottsdale Community
Optima, an internationally acclaimed architecture and real estate development firm, announced today the launch of sales for the first luxury condominium tower at Optima McDowell Mountain—a $1 billion, design-forward community in North Scottsdale that has already secured close to $27 million in early reservations ahead of its public release. Optima McDowell Mountain … [More]
Development Co. Achieves Full Lease-Up at Premier Industrial Development in Mesa
Kitchell Development Company announced that Abbott Labels has leased the final 50,509-square-foot vacancy at Elliot 94, completing the lease-up of the premier Class A industrial development in Mesa. With three tenants now occupying the 216,050-square-foot development, Elliot 94 is now 100% leased—making it one of the first fully occupied developments in the fast-growing … [More]
Scottsdale General Contractor Recognized among the Nation’s Top Builders
Lifestyle Homes earned a coveted spot on the 2025 Builder 100 List by BUILDER Magazine. Headquartered in Scottsdale, Lifestyle Homes is a leading general contractor specializing in high-density build-to-rent communities across Arizona. The company was honored along with other top home builders in the United States during a three-day summit in Dana Point, California, May … [More]
$120M Development Breaks Ground in Queen Creek
Leading real estate developer Creation, in partnership with Horizon Real Estate Ltd., broke ground on The Switchyard, a $120 million mixed-use project poised to become Queen Creek’s first walkable, design-driven district, uniting sought-after restaurants, retail, offices and future residential. Joining the restaurant mix are Snooze, an A.M. Eatery, a vibrant breakfast and … [More]
Scottsdale-Based Developer to Bring 15 New Hyatt Studio Hotels, Including Arizona
Caliber, a real estate investor, developer, and manager, announced that it has entered into a Development Rights Agreement with an affiliate of Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels in the United States. Under the terms of the agreement, Caliber Hospitality Development will receive exclusive development rights for future development of Hyatt Studios … [More]
Construction Safety Week: Prioritizing Safety on Megaprojects
The greater Phoenix Metro area is a growing destination for large-scale megaprojects, many of which are focused on technology-driven growth like data centers and colocation facilities. JLL’s North America Year-end 2024 report indicates that data center/colocation construction in Phoenix alone has grown nearly 200% since 2020. JE Dunn, ranked ninth for semiconductor … [More]
Industrial Complex in Mesa Sells for $51.5M
Commercial Properties, Inc., Arizona’s largest locally-owned commercial real estate brokerage, announced the sale of the Tailwinds at Gateway industrial complex totaling 172,244 square feet. Tailwinds at Gateway is a 172,244 SF Class A Industrial Complex in the Southeast Submarket of Phoenix, Arizona, which consists of 4 Multi-Tenant and 6 Single-Tenant Freestanding … [More]
Investment Co. Lends on Newly Built Luxury Rental Property in Desert Ridge
Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced it provided a $64 million senior loan to a joint venture between Greystar Development and Crown Realty Group for Sunela, a newly built multifamily property in Phoenix, Arizona. "We're pleased to support Greystar and Crown with this bridge loan to … [More]
$225M Development Brings Safeway, Boutique Restaurants, Retail, Hotel and Multifamily to Gilbert
Thompson Thrift, a full-service real estate company engaged in multifamily, mixed-use, industrial and commercial projects across the country, hosted a groundbreaking ceremony on April 30 for The Gilmore, a 35-acre mixed-use development in the Phoenix suburb of Gilbert. "The Gilmore's groundbreaking is an exciting milestone that brings our vision one step closer … [More]
Infill Industrial Redevelopment Breaks Ground in Tempe, Meeting Demand for High-Efficiency Space
Creation, a Phoenix-based real estate development and alternative investment firm, and LGE Design Build, a premier Southwest design-build firm, announced today the start of construction on Nexus Commerce Center, a 273,000-square-foot Class-A industrial park located at Elliot Road and Hardy Drive in Tempe. To mark the occasion, the developer held a groundbreaking ceremony … [More]
Redevelopment Transforms Vacant, Back-Office Building into High-Tech Manufacturing Facility
Phoenix Rising Investments and Willmeng recently completed work on their AMPlify development at 6505 W. Chandler Blvd. in Chandler. The latest AMPlify project transformed a vacant, back-office building into a high-tech manufacturing facility that has a dedicated 50 MW SRP substation for a Fortune 500 corporation. “On behalf of the City of Chandler, I want to thank Phoenix … [More]
Feedback: May 2025
Q: What changes have you made in office space usage in the past few years? Veronique James Founder & CEO The James Agency Sector: Public Relations Over the past few years, we’ve seen firsthand how intentional office design directly impacts team connection, collaboration and productivity. In response, we expanded The James Agency’s office footprint to create a more … [More]
Tariffs and Their Impact on Commercial Real Estate
Developers must strategize on sourcing and usage
In recent months, there has been increasing concern among commercial real estate professionals with the potential impact of new tariffs. These tariffs, introduced as part of broader trade policies, have affected various industries, with commercial real estate being no exception. From construction costs to property values, these tariffs are resonating across the CRE sector, … [More]
New Attainable Housing Project in Tempe
Dwell @ 5th and Farmer is an innovative, transit-oriented, attainable housing community from Holualoa Companies. Located on a two-acre parcel in the heart of Tempe, the multifamily project will provide new housing options for residents working in downtown Tempe, Arizona State University and other locations. The 129 attainable housing units are integrated with two existing … [More]
