Dominium, a leading national affordable housing owner, developer and manager, recently closed on deals to acquire land for three new housing projects, providing more than 800 units in Surprise and Maricopa. In Surprise, Arterra will offer 388 affordable apartments for families and will include a clubhouse, fitness center, pool, and a playground. Orchard Springs, also in … [More]
Two New Industrial Buildings in Mesa Are First for Developer in the Arizona Region
Outrigger Industrial has completed two class A industrial buildings totaling more than 400,000 square feet in Mesa, Arizona. The new development, Centris Industrial at Mesa, is located at the cross streets of 80th Street and Pecos Road. The building located at 8147 East Pecos Road is comprised of 96,882 square feet, of which 44,000 square feet has been recently leased. The … [More]
Arizona State University-Owned University Gateway Building Completed
Construction recently completed on the $78 million, five-level University Gateway Building at Arizona State University (ASU), a 128,000-square-foot building that wraps around the Mill Avenue Parking Structure in Tempe, Ariz. The parking structure, which was completed in late 2023, and the University’s new building are located east of Mill Avenue between 9th and 10th … [More]
Big Surf Site to Become Class A Industrial, Breaks Ground on Construction
Developer Overton Moore Properties, along with its partner, Invesco Real Estate, have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 sq. ft. on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe at 1500 North McClintock Drive. CBRE's John Werstler, Cooper Fratt and Tanner Ferrandi … [More]
Chandler Four-Building Class A Industrial Park Sells for $83M
The $83 million sale of Akimel Gateway in Chandler to EastGroup Properties, Inc. is complete. CBRE National Partners’ Rusty Kennedy and Joe Cesta, along with Cooper Fratt, John Werstler, Tanner Ferrandi and Mike Parker, represented Trammel Crow Company and CBRE IM in the deal. “Akimel Gateway presents a compelling investment opportunity for EastGroup, featuring impeccably … [More]
Hospitality Investment Firm Expands Portfolio with Acquisition of Scottsdale Resort
LionGrove, a leading hospitality investment firm, announces the purchase of ADERO Scottsdale Resort, Autograph Collection, an idyllic resort nestled in the heart of the Sonoran Desert. "The acquisition of ADERO Scottsdale marks an exciting milestone in LionGrove's dedication to building a portfolio of distinctive hospitality properties that create memorable and … [More]
Florida Investment Firm Acquires 262k SF Industrial Portfolio in Phoenix Metro Area
TerraCap Management LLC, a privately held investment firm headquartered in Naples, FL, announced today the acquisition of Valley Vista, a 262k square foot three-property industrial portfolio spread across the Phoenix, AZ metropolitan area. The three single-story buildings are located in the dense submarkets of Chandler, Tempe, and south of the Phoenix Sky Harbor Airport. The … [More]
Partnership Brings Expansion of Old Town Scottsdale Office Presence
Phoenix-based developer George Oliver, in partnership with Ascentris, has announced the $42.25 million acquisition of 7272 E. Indian School Rd., a 165,220-square-foot office building in Old Town Scottsdale, Arizona. The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., expands the companies’ Old Town Scottsdale footprint to over … [More]
Developer Acquires Property Near Sky Harbor, Plans to Redevelop to Class A Industrial
GO Industrial, a Phoenix-based development firm known for its design-centric approach and location-first strategy across the Western United States, has successfully acquired a 9.4-acre infill parcel in the highly sought-after airport market. The acquisition was made in partnership with Clarion Partners. Located at 3050 S 35th Street along University Drive, the parcel sits on … [More]
Glendale New-Build Divisible for Small Businesses
Tempe-based Sun State Builders, a leading design-build general contractor, recently began construction on a ground-up build for WorkBay, a company that provides flexible workspace for small businesses. Located in Glendale at 7915 N. Harbor Blvd., the project is comprised of five buildings totaling 80,082 square feet, each to be divided into separate, smaller spaces that will be … [More]
Affordable Housing Integrates Workforce Development
Phoenix Scholar House, a first-of-its-kind affordable housing community that combines housing with workforce development and is specifically tailored for single parents pursuing higher education, broke ground in November at 2950 North 18th Place in Phoenix. It will feature 56 apartment units, offering residents access to educational resources and career support. This project … [More]
Discount Tire Acquires Desert Ridge Corporate Center in Phoenix
Leading Retailer Has Been Tenant at 12-acre Campus Since 2019
Discount Tire through its affiliated real estate division, Halle Properties, LLC, closed on the purchase of Desert Ridge Corporate Center I and II in Phoenix. Desert Ridge includes 275,208-square-feet of multi-tenant use office space across two four-story office buildings originally constructed in 2005 and 2007. Discount Tire currently occupies an entire floor at Desert Ridge, … [More]
Mixed-Use Neighborhood Designed Car-Free
Culdesac, located in Tempe, is the first car-free neighborhood built from scratch in the U.S. The design for Culdesac Tempe was non-conventional from the very start at both the community and building scales, and it has not changed a lot since its inception. Culdesac, a real estate developer and property manager, not only wanted to deliver car-free, mobility-rich living, but … [More]
Arizona Builders Deliver Thousands of Toys to Kids in Need
Arizona’s 2nd largest toy drive brought holiday cheer to children across the state
Arizona Builders Alliance (ABA) with the help of construction industry workers across the state helped make a difference in the lives of over 3,000 children in need this holiday season through the 15th Annual Community Service Board's 2024 Toy Drive. Over 150 Arizona construction companies and individuals collected the mountain of toys, gifts, and approximately $45,000 in … [More]
Phoenix Selects Arizona-Based Architectural Firm for Resource Innovation Campus
Phoenix City Council selected Arizona-based architectural firm Krause as the winner of the C40 Cities Reinventing Cities Initiative to develop Phoenix’s Resource Innovation Campus. The Council voted to enter into a contract with Arizona-based architectural firm Krause to develop Phoenix’s Resource Innovation Campus. Through its design, Krause and their collaborators will … [More]
P.B. Bell Names New CEO
P.B. Bell, a leading multifamily real estate company, recently appointed Justin Steltenpohl as its new CEO, effective Jan. 1, 2025. This announcement comes alongside other recent leadership hires and appointments, showcasing the company’s commitment to ensuring its continued success and longevity. Chapin Bell, the owner of the company, will remain involved as Chairman of P.B. … [More]
Arcadia Shopping Center Transforms with New Tenants and Modern Upgrades
Westwood Financial, a more than 50-year-old leading retail real estate investment firm based in Los Angeles, announces the opening of Derma Health at Camelback Village in Phoenix’s Arcadia neighborhood. In addition, LaLa Land Kind Cafe has signed a lease at the center and will open in 2025. With this latest momentum, Camelback Village is now 100% leased. Since launching a … [More]
Builder Acquires Land to Develop 599 Affordable Apartment Homes in Surprise
Dominium, a leading affordable housing owner, developer and manager announced that it has closed a deal to acquire land for the development of a new community of affordable housing in Surprise, Arizona. Dominium plans to use the land located at 13500 N Cotton Lane in Surprise to construct Arterra and Orchard Springs, new high-quality housing communities for low-income families … [More]
