The Phoenix Office of JLL has released its Q3 2024 Phoenix Office Market Dynamics report, noting a continued stabilization in the local office sector with vacancy rates decreasing, the sublease market showing positive trends and rental rates on the rebound. The total metro Phoenix office market vacancy rate decreased by 10 basis points during the third quarter to 25.1%. This … [More]
Chicago Developer Brings Luxury Condominiums to Scottsdale’s ‘New Luxury Corridor’
Belgravia Group, Chicago’s award-winning real estate development firm with more than 75 years of luxury projects constructed under its brand, has announced its second North Scottsdale development, Atavia. The project has received Scottsdale Design Review Board (DRB) approval and follows the rapid and successful sell-out of its first North Scottsdale project, Portico. Atavia … [More]
West Valley Development Teravalis Names Investment Industry Veteran COO for Phoenix Region
Howard Hughes Holdings Inc. announced that Kate Kaminski has joined the company’s team at Teravalis™ as Chief Operating Officer for the Phoenix Region, under the leadership of recently appointed president Charley Freericks. A real estate and investment industry veteran Ms. Kaminski will help lead operations for the new Howard Hughes community in the Phoenix West Valley as … [More]
Estrella Flourishing with Sale of 719 Homesites to Renowned National Homebuilders
Estrella, a large-scale master-planned community in the bustling West Valley, announced a significant milestone in its ongoing development. With the successful sale of 719 homesites within the vibrant villages of Lucero and Montecito, Estrella is flourishing and attracting national homebuilders. The recent sale of 508 homesites in the Montecito village is to national … [More]
CRE Investment Co. Completes Rail-Capable Industrial Project in Surprise
Dallas-based Mohr Capital announced the completion of West Summit at Surprise, a 707,380-square-foot, Class A industrial development in Surprise, Arizona. The project sits on almost 47 acres with sought-after rail access to metro Phoenix’s rapidly expanding BNSF Railroad network. “Many distribution, manufacturing and logistics companies require rail access for their … [More]
Land and CRE Consulting Firm Acquires 600 Acres; Plans Build-for-Rent, Light Industrial, Data Center
Arizona Land Consulting, the Valley’s leading, female-owned real estate consulting firm, announced its purchase of 600 acres in Pinal County. The newly acquired property considered the “Gateway into Casa Grande,” located on the I-10/Florence, marks the first purchase since the firm’s recent record-breaking $136 million closing, a 240% return for its investors in two … [More]
Builder Breaks Ground on Two New Projects, Completes Warehouse Offices in North Phoenix
Sun State Builders, the leading design-build general contractor broke ground on two new industrial office projects – one in Glendale and one in Phoenix. The company also finished construction on a new warehouse office space at the Deer Valley Technology Park in North Phoenix. Construction is now underway in Glendale on a ground-up build for WorkBay, a company that provides … [More]
Construction Set to Begin on New Affordable Rental Community in Tempe
Greenlight Communities, the Scottsdale-based developer dedicated exclusively to building attainable and affordable rental housing without relying on government subsidies, is proud to announce the closing of its first community in South Tempe. Situated at the southwest corner of Guadalupe and Kyrene Roads, at 515 West Guadalupe Road in Tempe, Cabana Kyrene represents a vital … [More]
Hilton Phoenix Resort at The Peak Sells, Plans Set to Elevate Property
It was known as the Pointe when it opened nearly 50 years ago, nestled in Piestewa Peak near 16th Street and Northern. Today this resort, at the crossroads of the Valley, has a new owner and a new future. Phoenix based Pivotal Group has purchased The Hilton Phoenix Resort at the Peak. New York’s Fortress Investment Group was the seller. The $100 million acquisition and … [More]
World’s Leading Guitar Manufacturer Breaks Ground on New Arizona Co-Headquarters at PV
RED Development joined Fender Musical Instruments Corp., the world's leading guitar manufacturer, yesterday for a groundbreaking ceremony to mark the start of construction on its new Arizona co-headquarters in a fully dedicated facility slated to open in 2025 at PV, the more than $2 billion multi-phase, multi-year redevelopment of the former Paradise Valley … [More]
Family Fun Center Signs Lease for Scottsdale Location
Western Retail Advisors has completed a 50,000-square-foot lease that will soon establish the latest metro Phoenix location for the fast-growing family fun park concept. The new Slick City will sit at 9189 Talking Stick Way, within The Pavilions at Talking Stick, a 1.3 million-square-foot power center occupying more than 128 acres along the Loop 101 near Indian Bend Road in … [More]
Industry Veteran Promoted to President and COO of Sundt Construction
Sundt Construction, Inc. has promoted construction industry veteran Cade Rowley to President and Chief Operating Officer. In his new role, Rowley will serve as leader of all operational strategy and execution, overseeing each of the company’s seven business units. Mike Hoover, Sundt’s President and CEO since 2016, will continue to serve as CEO and Chairman of the Board of … [More]
The Missing Middle: An Innovative Approach for Affordable Housing
“Attainable” housing is the most in-demand housing type, yet it rarely grabs headlines — or gets built. According to the commercial real estate research firms Yardi Matrix and CoStar, more than 90% of the rental units being built in the Phoenix area are financially feasible for only the roughly top 20% income bracket, while about 5% of rental units being built are … [More]
Mesa Data Center to Use Waterless Cooling Technology
Haydon, a leading full-service general contractor with over 30 years of experience in the Southwest, officially broke ground on a highly advanced data center for Edged Energy, a fast-growing sustainable infrastructure provider. Due for completion by November 2026, the 210,000-square foot facility will use the ThermalWorks ultra-efficient waterless cooling technology system to … [More]
If You Build It: Private Industrial Developers Boost Phoenix Infrastructure
Behind the Phoenix area’s industrial boom in recent years is a web of infrastructure supporting it — some of it visible, some not, but all crucial to the region’s future. These private infrastructure improvements, though requiring significant financial investments, empower developers to attract high-profile, sophisticated tenants from diverse industries. This, in turn, will … [More]
Extensive Infrastructure Supports The Cubes at Mesa Gateway
The Cubes at Mesa Gateway, a 256-acre industrial park developed by CRG, includes 1.7 million square feet of industrial facilities built to date, with 63 acres left to build. CRG acquired the property in 2021 with plans for the largest master-planned, development-ready industrial park ever delivered in Phoenix’s Southeast Valley submarket. To date, CRG has made $27 million in … [More]
Dallas Development and Investment Firm Set to Break Ground on Glendale Industrial Site
Provident Industrial, a division of Dallas-based Provident, is set to break ground on a fully entitled industrial site located at 6550 W. Orangewood Avenue, Glendale, Arizona. The development, known as Orangewood Commerce Center, is located just 10 miles northwest of downtown Phoenix, with convenient access to U.S. 60 (0.5 miles) and the Loop 101 Freeway (4 miles). The … [More]
Homegrown Arizona Apparel Co. Triples Tempe Corporate Headquarters
The Phoenix office of JLL announced it has completed a 96,407-square-foot lease for Branded Bills, a rapidly expanding, homegrown Arizona company offering a range of hat and apparel products featuring a trademark, hand-forged leather patch. Located at 360 S. Smith Rd. in Tempe, Arizona, the lease relocates and triples the size of the Branded Bills headquarters, consolidating … [More]
