Big-D Construction is pleased to announce that Carl McFarland has been promoted to President of the construction company’s Southwest office. “Since joining our Big-D Family of Companies in Spring 2022, Carl has brought a meticulous level of insight and leadership to our Southwest office,” said Troy Thompson, COO of Big-D Companies. “Through careful evaluation of the office’s … [More]
Homebuilder Breaks Ground on 663 Homesites in San Tan Valley
Tri Pointe Homes Arizona, a recognized leader serving the Phoenix market for over 30 years under the name Maracay®, has announced the groundbreaking of 663 new homesites at Soleo, a premier planned community in San Tan Valley. Tri Pointe Homes’ 252-acres are expected to feature eight model homes with a grand opening anticipated in 2025, furthering Tri Pointe’s strategy to build … [More]
Investment Real Estate Co. Expands to Arizona, Veteran Broker to Lead Phoenix-Based Team
Secure Net Lease, a nationally-recognized brokerage that specializes in the acquisition and disposition of investment real estate throughout the United States, is expanding its national footprint. Senior commercial real estate broker Steve Lowe and his Phoenix, Arizona-based team that specializes in multi-tenant retail and shopping center sales, have joined Secure Net … [More]
Phoenix Industrial Market Adds 10 Million New Square Feet in Q2, Says Report
Strong net absorption of 5.3 million square feet helps vacancy remain below 10 percent
The Greater Phoenix industrial market delivered 10.0 million square feet of new space during second quarter, marking the completion of a portion of the record construction started in 2023, according to a report released by Colliers. Strong net absorption totaling 5.3 million square feet assisted in minimizing vacancy rate escalation, resulting in a current vacancy of 9.0 … [More]
Developers Break Ground on $100M Mixed-Use Development in Gilbert
Okland Capital and San Tan Development Group announced they have broken ground on phase one of Northside at SanTan Village, a brand new mixed-use development that will bring high-end retail, restaurant and hotel amenities to the SanTan Village submarket in Gilbert, Arizona. Located on the east side of Santan Village Parkway between Williams Field and Ray roads, Northside phase … [More]
Westgate-Adjacent 296-Unit Multifamily Property Sells for $76.6M in Glendale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Glen 91, a 296-unit multifamily asset in Glendale, Arizona. The property sold for $76.5 million, or $258,446 per unit. “The West Valley’s municipalities, which include Glendale, have experienced outsized growth in the post-pandemic boom and are among the Valley’s most in-demand … [More]
Phoenix Leads the Nation in Active Industrial Construction, Says Report
Valley’s industrial sector delivers over 10 million square feet last quarter, with 37 million currently underway
After delivering over 10 million square feet of industrial product last quarter, Phoenix continues to be a hotspot for industrial development and currently ranks first in the U.S. for active projects with 37 million currently underway, as highlighted in LGE Design Build’s Q3 Construction Delivery Outlook report released today. “Custom-built industrial projects, student … [More]
Construction Co. Breaks Ground on Papago Golf-Adjacent Office Building, HQ to Several Golf Organizations
Wespac Construction, Inc. has announced the groundbreaking of the Papago Golf House, a new 14,100 SF office building located adjacent to the Papago Golf Clubhouse and Pavilion, 5595 E. Karsten Way, as well as the Arizona State University Golf Team Practice Facility. The project will serve as the headquarters for numerous state and national golf organizations involved with … [More]
Investment Co. Closes on Land in San Tan Valley to Develop Single-Family Build-to-Rent Communities
Harvard Investments closed on land sales to a homebuilder and multifamily developer who plan to construct single-family residences and build-to-rent units, respectively, in the growing, unincorporated community of San Tan Valley, Arizona. The two sales fetched $15.4 million. Harvard Investments, a real estate investment and development company, sold 133 guaranteed finished … [More]
NAIOP Market Monitor Offers an Alternative Approach to Evaluating CRE Markets
For the second year, the NAIOP Research Foundation has published the NAIOP Market Monitor, which evaluates office and industrial real estate markets using a two-dimensional analysis based on a metropolitan market’s size and its relative volatility – a departure from traditional commercial real estate market rankings. Among the key findings this year: Office markets with … [More]
West Valley Build-to-Rent Development Gets $51.5M in Construction Financing
Tower Capital arranged $51.5 million in non-recourse construction financing for the development of Skyview by Zen, a 190-unit Build-to-Rent (BTR) community in Phoenix’s West Valley. Tower Capital’s Kyle McDonough, Managing Partner and Co-Founder, and George Maravilla, Partner, arranged the financing on behalf of Zen and 10Y. “Zen’s development strategy is to deliver a West … [More]
Goodyear’s Growth Continues with Opening of Homebuilder’s Energy-Efficient Community
Meritage Homes, the fifth largest public homebuilder in the U.S., has announced the grand opening of a new home community in Goodyear, Silva Farms. Silva Farms is a gated community featuring 13 floorplans, a clubhouse, community pool, basketball court, walking trails, and more. Silva Farms is the latest and the largest of three new home communities Meritage has opened in the … [More]
Two Properties Close in High-Growth Areas of Buckeye, Totaling $20M
Arizona Land Consulting, the Valley’s leading, female-owned real estate consulting firm, announced two closings on two prime locations in Buckeye, the deals combined amounted to nearly $20M. The first acquired property is 72 acres that will be converted into a mixed-use development, located on Miller and Broadway, a rapidly growing area known for its economic development and … [More]
Rental-Housing Developer Announces Groundbreaking of Community in Chandler
Mill Creek Residential, a developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Chandler, a contemporary garden-style community in southeast Phoenix. The community, which will feature 345 spacious apartment homes and a modern farmhouse-style aesthetic, will include seven three-story … [More]
Peoria Townhome Community Installs New EV Chargers in Every Garage
Haven Townhomes at P83 in Peoria recently added electric vehicle (EV) chargers to each resident garage to make the community more ecofriendly. The community, managed by Bryten Real Estate Partners, installed 163 Wallbox Pulsar Plus charging stations in every detached garage for convenience and sustainability. The Wallbox Pulsar Plus charger they selected is compatible with … [More]
Schnitzer Properties Breaks Ground on Class A Multi-Tenant Industrial Property
Portland-based Schnitzer Properties and JLL announced the start of construction on Palm Valley Commerce Center, a Class A industrial project designed to serve local entrepreneurs and multinational corporations alike in the Phoenix metropolitan area. Located at Auto Drive and 137th Avenue in the rapidly expanding Phoenix-Goodyear Airport submarket of Goodyear, Arizona, Palm … [More]
First Phase of Retail at PV Nearly 100% Leased
The first phase of retail is nearing 100% leased at PV, the highly anticipated redevelopment of the former Paradise Valley Mall by RED Development, ahead of its grand opening this fall with the recent addition of seven new tenants, including first-to-market restaurants, upscale salons and a medical spa. This significant milestone is building momentum for the rest of the … [More]
VanTrust Getting Great Results with Glendale Developments
VanTrust Real Estate has developed a nationwide portfolio of projects, ranging from office, industrial and multifamily, to mixed-use and science + technology. The Kansas City, Missouri-based firm has an expanding reach across six regional offices, including a Southwest Division office here in Phoenix. Throughout the country, VanTrust has developed a reputation as a company that … [More]
