Banyan Residential, a Los Angeles-based private real estate investment firm, in partnership with national developer Milhaus, has commenced construction on the first phase of a new 515-unit luxury apartment community in Phoenix, Arizona. Phase one, a $117M development consisting of 320 units, is expected to be complete in Q4 2025. UMB, with syndication by First Merchants and … [More]
Property Manager Selected for Retail Component of Arizona’s Largest Urban Commercial Development
Vestar, one of the leading privately held shopping center owners and managers in the western United States, announced that they have been selected as the primary property manager for the hospitality district within Novus Innovation Corridor, ‘Novus’. The groundbreaking 355-acre project is redefining urban mixed-use developments, creating a fully walkable, sustainable … [More]
New Gated Townhome Community in Arcadia Opens to Residents
A Phoenix-based, newly built gated townhome community, Willow 38, recently welcomed its first residents. Willow 38, nestled in the Arcadia neighborhood, is an energy-efficient community enabled with smart home technology and constructed with sustainable building materials. As a MEB Management Services community developed by Raintree Investment Corp., Willow 38 offers three … [More]
Build-to-Rent Community in Glendale Breaks Ground
Mosaic, the nation’s leading institutional-grade general contractor, has broken ground on Avilla Palomino, a new build-to-rent (BTR) community, by NexMetro Communities, with 197 cottage-style apartments and amenities in Glendale. The new community helps alleviate the shortage of high-end rental home options for families and individuals in the Phoenix metro area. Avilla … [More]
Mixed-Use Development Breaks Ground near Taiwan Semiconductor Plant in Phoenix
Thompson Thrift, a full-service nationally recognized real estate company, announced today the commencement of construction on master infrastructure improvements and approximately 35,000 square feet of freestanding and multi-tenanted retail space near the $20+ billion Taiwan Semiconductor Plant (TSMC) in northern Phoenix. "The property is advantageously situated along a main … [More]
Massive 3.6 MSF Industrial Park to be Developed on 225 Acres in Buckeye
Land Advisors Organization facilitates two transactions on behalf of the sellers for $37 million to a joint venture between Van Tuyl Companies and the Eisenberg Company, set to bring the Buckeye 225 Industrial Park for development and sale to the West Valley. Scottsdale, Ariz. (August 17, 2023) - Two land sales in Buckeye, Arizona, totaling 225 acres for $37 million, will be … [More]
Another Industrial Project for Glendale’s 303 Corridor
VanTrust Real Estate, a national commercial real estate development company, has completed the acquisition of 66 acres in one of the most active industrial submarkets in the Western United States, the Loop 303 corridor in Glendale. The 66-acre parcel is located at the southwest corner of Northern Ave. and Reems Rd. It is ideally situated less than a mile east of the Loop 303 … [More]
216,688 SF Speculative Industrial Building Planned in El Mirage
Filling the void of +/-200,000 SF industrial properties being developed in Metro Phoenix, a joint partnership is breaking ground in September on a 216,688 SF spec industrial building on 13.26 acres in El Mirage, Arizona. Scottsdale-based Silver Creek Development and Atlanta-based Stonemont Financial Group plan to deliver the asset, El Mirage Commerce Center, in 3Q 2024, at … [More]
Gateway Airport’s $28M Terminal Addition Reaches Milestone
General contractor McCarthy Building Companies and DWL Architects + Planners recently celebrated the topping-out milestone at Phoenix-Mesa Gateway Airport’s (Gateway Airport) new 30,000-square-foot, five-gate terminal modernization project. The approximately $28 million project, which is being partially funded by a federal grant from the Bipartisan Infrastructure Law (BIL), … [More]
Five Homebuilders Named for New Master-Planned Community Near Eastmark
Blossom Rock at Superstition Vistas unveils The First Builders For Its Majestic New East Valley Community - The Phase One Builders include Lennar Homes, David Weekley Homes, Pulte Homes, Tri Pointe Homes, and Brookfield Residential Scottsdale-based Brookfield Residential announced five of the Valley’s top homebuilders are planning and designing the first single-family homes … [More]
Developer Breaks Ground on Tempe Town Lake Area Rental Community
Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Rio Salado, a contemporary apartment community in the Tempe Town Lake neighborhood of North Tempe. Modera Rio Salado, which will feature 319 apartment homes, marks Mill Creek's third development in … [More]
Development Corp. Secures $39 Million Refinance for Newly Delivered Goodyear Industrial Project
Phoenix-based Baker Development Corporation (BDC), and New York’s Foundation Capital Partners (FCP), along with joint venture partner GTIS Partners, have secured a $39 million refinance loan for Yuma|143, a recently completed, 490,278-square-foot Class A industrial development in Goodyear, Arizona. The project reached 100% occupancy just last week, with the last of three major … [More]
Coyotes Confirm in Statement Intent for Mesa Sports Arena Site
The Arizona Coyotes have confirmed, in a statement, that they have identified a proposed site to purchase for a sports arena and entertainment district similar to the one that was proposed earlier this year in Tempe. The statement reads: “We can confirm that Coyotes Owner, Chairman & Governor Alex Meruelo has executed a Letter of Intent to purchase a parcel of land … [More]
Developer Closes on New Affordable Housing Communities in Goodyear
Dominium, a leading affordable housing owner, developer and manager announced that it has closed a deal to develop two new affordable housing communities in Goodyear, Arizona. Dominium will use the approximately 28-acre site located at 16985 W Van Buren Street in Goodyear to construct 657 new affordable apartment homes for low-income families and seniors. Once constructed, … [More]
Phoenix Office Market Posts Positive Net Absorption 2Q
The Greater Phoenix office market posted positive net absorption of 62,244 square feet during second quarter, which was largely made possible by fewer large move-outs in the evolving office environment. A report released by Colliers in Arizona indicates sublease space continues to pile into the market, increasing 19.7 percent during the past year. Second quarter posted … [More]
Builder Celebrates 40 Years of Building Diverse Projects, Building Relationships
An elephant ‘squeeze’ at the Phoenix Zoo. Renovation of the exterior surface of the Arizona Veteran’s Memorial Coliseum. A 155-acre camp for The Salvation Army plus numerous other projects for them. Surgery centers. Hospital renovations. Construction for more than 30 Arizona school districts. More than 75 CVS/pharmacy drug stores. More than 50 Auto Zone automobile parts … [More]
Fitness Club Plans Renovation of Vacant Grocery Store in North Scottsdale
Mountainside Fitness, Arizona’s largest locally owned fitness center is proud to announce that construction will begin in the early fall on its 21st fitness facility, which will be located off Frank Lloyd Wright, just to the east the 101 freeway within a large retail space at Scottsdale Towne Center. The address for the location is 15660 N Frank Lloyd Wright Blvd, Scottsdale, … [More]
Southwest Phoenix Transportation Corridor Sees Completion of Historic Industrial Warehouse Complex
CapRock Partners, announced the completion of Phase I of CapRock West 202 Logistics, a new leading-edge speculative industrial development in the Southwest Phoenix submarket. Delivery of the 140-acre phase brings approximately 2.5 million square feet of Class A industrial warehouse space across five buildings to a key infill logistics location along Phoenix’s primary … [More]
