Cohen & Steers Income Opportunities REIT, Inc. announced its acquisition of Deer Valley Towne Center, a community shopping center in the Deer Valley submarket north of Phoenix, Arizona. The acquisition was made through a programmatic joint venture with Sterling Organization, a real estate investment firm with extensive expertise in shopping centers in the U.S. This is … [More]
Investors Double Down on West Valley as Build-to-Rent Momentum Grows
CenterSquare’s latest Value-Added Fund made a preferred equity investment for the development of Ironwood Homes at Rosefield, a 320-unit build-to-rent townhome and single-family detached community in the fast-growing West Valley submarket of Phoenix, AZ. The property will consist of all two-story units with high-end interior finishes, fenced backyards, attached garages, and … [More]
How the West Valley Became the ‘It Place’
The West Valley is no longer the stepchild of the Phoenix metro area.
Over the past decade — and increasingly so in the past few years — West Phoenix and the broader West Valley of metro Phoenix have emerged as epicenters of explosive commercial and residential growth. Fueled by a potent confluence of expansive land availability, robust infrastructure investments and escalating demand, this region is rapidly transforming from suburban fringe to a … [More]
New Industrial Campus in Goodyear to Add a Retail Component
Now online, Goodyear AirPark Phase I is a 1.6 million-square-foot, six-building Class A industrial project. Full-service commercial real estate firm Lincoln Property Company and Scottsdale-based Harvard Investments designed the development to meet Phoenix’s evolving demand for mid- to large-scale industrial space, has come online. It was delivered with full utilities … [More]
First Walkable Senior Living Community in Old Town Scottsdale
Empire Group of Companies, through its luxury urban infill division Aspirant Development, and Brinkmann Constructors broke ground recently on The Osborn, the first high-end senior living community in Old Town Scottsdale to offer walkability to the area's rich array of dining, retail and cultural amenities. The 226-unit, 420,000-square-foot project will deliver a full continuum … [More]
Transforming Legacy Buildings into Next-Gen Office Destination
Phoenix-based developer George Oliver, in partnership with Ascentris, has launched plans for Arbor Old Town, a new luxury office redevelopment in the heart of Old Town Scottsdale. Spanning more than 360,000 square feet across three buildings and six acres at the prominent corner of Scottsdale and Indian School roads, the project will introduce the district’s first … [More]
What Makes Development ‘Responsible’ in the Public’s Eyes? A Clue from Data Centers
Industrial projects often face fierce local resistance, but data centers are proving to be a surprising exception. According to the Data Center Neighborhood Survey Report from Airedale by Modine, a critical cooling specialist for data centers, 70% of Americans are comfortable with a data center within a few miles of their home, and 21% are even okay with one located less than a … [More]
Build‑to‑Rent Surge Spurs Developer Expansion Into Scottsdale
Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets across the United States, announced that it has opened an office in Phoenix, Arizona. Based in The Promenade office park in North Scottsdale, the new space will offer ongoing support to the company's growing operations in the state, which include a development pipeline of numerous … [More]
$33B Data Center Park Planned for Phoenix-Tucson Metropolitan Corridor
Arizona land developer Vermaland, LLC unveiled plans for a $33 billion data center industrial park that would become the largest such development in the United States, positioning the Phoenix-Tucson corridor to compete directly with Northern Virginia's "Data Center Alley" for tech industry investment. The 3,300-acre complex would support up to 3 gigawatts of power capacity, … [More]
Return‑to‑Work Drives Major Chandler Office Expansion
Toyota Financial Services, the finance brand for Toyota in the United States, is expanding its office presence in Chandler, Arizona, to support long-term operational needs. The company has leased an additional 40,000 square feet of office space at its current location, 1650 S. Price Road, and now occupies the entire 120,000-square-foot building. TFS first established a … [More]
Landmark Scottsdale Hotel Lands $23M Loan for Rebrand and Relaunch
Lionheart Strategic Management LLC, an affiliate of Fisher Brothers that manages capital on behalf of third-party investors, and Schroders Capital, the private assets division of Schroders, announced that it has provided a $23.5 million mezzanine loan to Namastay Development and Hospitality Capital Partners for the renovation and recapitalization of The Monarch, a 194-key hotel … [More]
Avondale Unveils Facility to Support Growing K‑9 Operations
Willmeng Construction and the City of Avondale recently celebrated the completion of the new Avondale Police Department K-9 Training Facility. This state-of-the-art training center, designed by Perlman Architects, was specifically designed to support the intensive training and operational needs of Avondale’s highly skilled K-9 teams. The facility, located at 50 N. Eliseo C. … [More]
New Platform Streamlines Pre-Construction Planning for Valley Builders
CivilGrid, the civil design intelligence company, announced today its expansion into the Arizona and Nevada markets. This expansion will improve the building process for civil engineers and construction teams in the region. Often referred to as the 'Google Maps for the underground,' CivilGrid centralizes unprecedented utility maps and historical site datasets in an intuitive, … [More]
Sundt Construction Set to Build Largest Apache Junction Industrial Building
Sundt Construction, Inc. received zoning approval at the Tuesday, July 15 Apache Junction City Council meeting to construct a 65,000 square foot manufacturing facility. The new industrial building will be the largest in Apache Junction and is expected to bring approximately 100 jobs to the city. Sundt is currently in escrow to purchase this 36-acre parcel located west of the … [More]
East Valley Mixed-Use Development Marks 100% Occupancy, Strong Lineup of New and Upcoming Tenants
Vestar, a privately held shopping center owner and manager in the western United States, has announced that Vineyard Towne Center in Queen Creek is now 100% leased, with a strong lineup of new and upcoming tenants ready to meet the needs of this rapidly growing community. A 145,000-square-foot Target is on track to open this October, joining a strong mix of upcoming tenants … [More]
New Peoria Build Pushes Scottsdale Firm’s Self-Storage Pipeline to 2M SF
Willmeng Construction broke ground on a state-of-the-art self storage facility in Peoria. Garrett Development Corp is the developer of this new facility. The property is located in a county island within the City of Peoria borders. It sits along the east side of Lake Pleasant Parkway, a main arterial road in Peoria. “We’re very excited to start this project, which is our … [More]
$2.2B Acquisition to Expand National Investor’s Footprint in Phoenix
Starwood Property Trust, Inc. announced that the Company has entered into a definitive agreement to acquire Fundamental Income Properties, LLC, a fully integrated net lease real estate operating platform and owned portfolio, for approximately $2.2 billion. Fundamental, currently owned by Brookfield Asset Management, operates a vertically integrated net lease … [More]
Glendale Build-to-Rent Project Fully Capitalized with $43M in Funding
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced that its offering, Capital Square Glendale BFR, LLC, has been fully capitalized. The Regulation D private placement, consisting of a 320-unit build-for-rent community in Glendale, Arizona, raised over $43 million in … [More]
