Bullish About West Valley, Says Real Estate Co. on Acquisition of 224-Unit Multifamily Community

SB Real Estate Partners

SB Real Estate Partners (SBREP) has announced the purchase of Casa Anita Apartments – a 224-unit multifamily community located in the West Valley submarket of Phoenix – for $35.3 million. The property had previously been under private ownership with a California-based family since 2005. SBREP will rebrand the property as Portola West Valley. Following SBREP’s recent sale of … [More]

KBS Sells Anchor Centre in Phoenix

inbusinessPHX.com

KBS, one of the largest investors in premier commercial real estate in the nation, announced today that it has sold a 333,014 square-foot Class A office property in Phoenix, Arizona. The property, Anchor Centre, was sold to TerraCap for $103.5 million after KBS completed an extensive improvement program on the asset. Anchor Centre was owned by KBS REIT III. “At KBS, we take … [More]

International Developer Breaks Ground on First Arizona Multifamily Project 

by Mike Hunter

The Related Group, an international developer known for its sophisticated metropolitan “for-sale” condominiums, rental and mixed-use projects, recently broke ground on its first multifamily project in Arizona, The Manor Scottsdale. “The Phoenix metro area is one of the fastest-growing and most desirable locations for developers,” says Michael D’Andrea, Southwest regional vice … [More]

Local Luxury Condo Tower among the Top Two Fastest-Selling on the West Coast

by Mike Hunter

Sales at 7180 Optima Kierland, the newest tower within the $500 million Optima Kierland development from leading multifamily developer Optima, reached 85% last month as it averages 4.5 sales per month since January 2020, making it among the top two fastest-selling luxury condominium developments on the West Coast. That average is approximately five times greater than the rest … [More]

Office Design Trends as WFH Becomes the Norm

by Mike Hunter

Dramatic shifts in the everyday lives of homebuyers have caused families to rethink a once-overlooked, private working corridor: the home office. In fact, the home office does not only benefit the “worker.” Recent months have shown that many different family members can end up at home for unknown periods of time, using different devices to keep up-to-date with schooling, … [More]

Axway’s Agile Work Environment

by Mike Hunter

With more than 300 employees locally and 2,000 globally, and celebrating its 20th anniversary, Axway, Inc. — an information technology company providing enterprise software, business analytics, mobile app development and API management — has relocated to a new North Scottsdale office location at 16220 N. Scottsdale Rd., Suite 500. The new office space has been designed … [More]

Tempe Building One of Largest 2020 Office Sales in Southwest U.S.

by Mike Hunter

Lincoln Property Company’s Class AA Grand2 office building in Tempe, Ariz., has sold, becoming the largest office sale to close in the state in 2020 and one of the top five office sales to close in 2020 in the Southwestern United States. The building buyer is Apex Capital Investments Corporation, a U.S.-based real estate investment management firm with a track record of … [More]

Completion on Apartments is Nearing through Unique Partnership

FSL

FSL (Foundation for Senior Living) is pleased to announce that they are accepting applications for leasing at Spectrum Courtyard Apartments, a new affordable living/multi-family project, located at 21st and Missouri Avenues will be completed in early 2021. The property consists of 25 one-and two-bedroom apartment units and includes a partnership between FSL and First Place … [More]

Dallas Firm’s Latest Acquisition Strengthens Presence in Greater Phoenix-Scottsdale Market

BBG

BBG, a leading national due diligence commercial real estate firm, today announced that it completed the acquisition of Nava Hurd Advisory Group, a combination of Brekan Nava Group, a Tempe, Ariz.-based commercial real estate appraisal firm, and Paradise Valley, Ariz.-based appraisal firm Hurd and Associates. Terms of the acquisition were not disclosed. The acquisition will … [More]

Opportunity Zone Project Breaks Ground on Single-Family Rental Units in Glendale

Virtua Partners

Virtua Partners, the Scottsdale-based private-equity firm specializing in real estate investment, has broken ground on a new Opportunity Zone development, in Glendale, Arizona. The property, named “V Townhomes at Manistee Ranch,” is a 5.78-acre infill lot situated at North 53rd Avenue within the Manistee Ranch Community. Virtua plans to transform the lot into 71 single-family … [More]

High-End Retail Space Reveals Design Details & New Amenities for Residents

Epicenter

Epicenter, the high-end, vertically integrated mixed-use community and retail destination in the heart of Agritopia®, is progressing on schedule with construction since its groundbreaking in January. The development is slated to welcome residents in the fall of 2021. The multi-family units feature state-of-the-art amenities and thoughtfully curated design details that will … [More]

Q3 Phoenix Industrial Dominated by Warehouse and Distribution Space

by JLL

The onset of COVID-19 is driving industrial demand in Phoenix, with warehouse and distribution space emerging as leaders in an industrial market that is rapidly growing in both popularity and sophistication, according to the new JLL Q3 Phoenix Industrial Insight Report. Phoenix recorded just over 1.6 million square feet of absorption during the third quarter — up 60 percent … [More]

Golf Villa Resort Adjacent to The Phoenician

by Mike Hunter

Replay Destinations plans to develop Ascent at The Phoenician®, a private residential community that will sit at the foot of Camelback Mountain, overlooking the Phoenician® Golf Club. Replay has acquired the development parcels from affiliates of Host Hotels & Resorts, Inc., owner of The Phoenician®, a Luxury Collection Resort, which is consistently recognized as one of the … [More]

COVID-Conscious Co-Workspace in Phoenix

by Mike Hunter

Faciliteq, a leading workplace solution provider in the Southwest, opened its newest adaptive reuse project last month. Developed with sister company BWIQ (Build With IQ), the Five55 Melrose building (555 W. Turney Ave., Phoenix) transforms a former neighborhood fitness center into a modern co-working environment designed with the post-COVID world in mind. Five55 Melrose was … [More]

Landsea Homes Innovates Virtual Home Design

by Mike Hunter

Landsea Homes — a homebuilder whose projects in Arizona include Alamar in Avondale, Harvest in Queen Creek and Verrado in Buckeye — has launched a new High Performance Homes interactive experience. The new program allows homebuyers to visualize and virtually experience every element and feature of the HPH program, from home automation to sustainability and energy … [More]

Where is My Office?

by Mike Hunter

Where is My Office is a fascinating and accessible guide to the effective management of corporate real estate — an underestimated element of business management that can have a dramatic impact upon employee satisfaction and organizational efficiency. In the current age of remote working and flexible work hours, why have most office spaces remained relatively unchanged for … [More]

Leading Florida Developer Breaks Ground on First Project in Arizona

The Related Group

The Related Group, an international developer known for its sophisticated metropolitan ‘for-sale’ condominiums, rental and mixed-use projects, announced the groundbreaking of their first multi-family project in Arizona called The Manor Scottsdale. Located at 13220 N. Scottsdale Rd. in Scottsdale, Ariz., the 286-unit upscale multi-family residential apartment homes will be … [More]

Developer Accelerates Growth of Health Club Co. with Work on New Facilities

inbusinessPHX.com

Barclay Group, the preferred real estate developer for EoS Fitness, continues to flex its development muscle for the health club leader, collaborating on the successful openings of three new EoS gyms in Phoenix and Tempe, Arizona, and Tampa, Florida. EoS Fitness is a premier fitness operator with a differentiated fitness service offering in high demand, and the capacity to … [More]

Canadian Real Estate Development Co. Acquires Prime Development Parcels Adjacent to The Phoenician

Replay Destinations

Replay Destinations (‘Replay’) has acquired real estate development parcels at The Phoenician®, a Luxury Collection Resort in Scottsdale, Arizona. The planned private residential community will sit at the foot of Camelback Mountain, overlooking the Phoenician® Golf Club. Known as Ascent at The Phoenician®, the project will become a true legacy property in one of Arizona’s most … [More]

COVID Inspired Change in Home Design

by Todd Sumney

Companies, real estate agents and entire industries are adapting quickly to match homebuyers’ needs and desires that are radically different from what they were just a year ago . . . Consumers and businesses alike have been forced to adapt and change how they live and work due to the COVID-19 pandemic. Some would say that most of this evolution and change has taken place in … [More]