Nationwide Realty Investors, owner and developer of Cavasson, announced today the grand opening of the highly anticipated Hilton at Cavasson. Supremely located at the northwest corner of Loop 101 and Hayden Rd, Scottsdale’s newest hotel and event center will quickly become the region’s premier destination for business and leisure travelers, and visitors attending Greater … [More]
Weitz to Modernize Phoenix Sky Harbor’s Terminal 4 Baggage Handling System
The Weitz Company has been selected by Phoenix Sky Harbor International Airport to upgrade its Terminal 4 Baggage Handling System (BHS) for an estimated $50 million in construction costs. The project award encompasses preconstruction services and construction in partnership with JSM & Associates. This project will primarily focus on the outbound BHS servicing the North … [More]
127-Room Hotel in Gilbert Sells for Nearly $19.5 Million
A 127-room Hyatt Place hotel in Gilbert (Phoenix), Arizona sold and was represented by Cushman & Wakefield announced the firm announced. Located at 3275 S Market St, the six-story property sold to HWC Hospitality for nearly $19.5 million. Bill Murney and Jesse Heydorff with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, Sethi … [More]
The ABCs of ADUs in Phoenix
Phoenix appears to be poised to open the doors wider to accessory dwelling units (ADUs), and for good reason. These freestanding backyard structures — also known as in-law suites, granny flats, casitas and cottages — create additional living spaces at a cost of about 40% less than a traditional renovation or home remodel. With water, sewer and electrical service, ADUs are homes … [More]
Property Tech Enables Centralizing Services
It’s impossible to attend an industry conference where the goal to centralize services is not one of the most important topics. At its core, centralization leverages technology to offload the responsibilities of various tasks to a dedicated team, increasing efficiency and streamlining processes to improve overall workflow across a portfolio. In multifamily, this allows onsite … [More]
Construction: Key Trends Expected to Shape the Industry in 2023
In its fourth quarter Construction Delivery Outlook report, leading national design-build firm LGE Design Build examines key trends in construction labor, supply chain, material costs and demand to determine what will define the industry in 2023. “Amid the speculation and uncertainty of a looming recession, this report provides critical insights that can help guide leaders … [More]
113-Acre Mesa Industrial Park Breaks Ground
IndiCap and AECOM-Canyon Partners are developing Eastmark Center of Industry, a 113-acre industrial park located in the heart of the Gateway Airport submarket in Mesa, Arizona. At completion, the park will total 10 buildings and more than 1.6 million square feet of mid-bay and cross-dock Class A industrial buildings. IndiCap purchased the project site in April 2022 for $48 … [More]
New Luxury Rental Community for Gilbert
Operating at the leading edge of the build-to-rent industry, Family Development — a preferred homebuilder in California, Arizona and Texas — and tech-enabled general contractor Mosaic recently broke ground on Town Germann, a gated, build-to-rent community located in Gilbert, Arizona. The 14.5-acre property will consist of 209 luxury, two- and three-bedroom townhomes ranging … [More]
National Tire Co. Acquires 35 Acres in Phoenix for New Headquarters Development
Discount Tire, a leading independent tire retailer, announced its intent to develop a new corporate headquarters in Phoenix following the acquisition of 35 acres located near Loop 101 and State Route 51. Discount Tire purchased the site at a recent Arizona State Land Department public auction. Proceeds from the sale will be invested by the state in the Permanent Land Endowment … [More]
Prime West Valley New-Home Community Opens
KB Home announced the grand opening of Tierra La Bella, a new community of single-family homes in a highly desirable west Phoenix location. The new community is situated on 83rd Avenue just south of West Buckeye Road and near Interstate 10 and Loop 202, providing easy access to downtown Phoenix and the area’s major employment centers as well as Sky Harbor International … [More]
Logistics Co. Secures 1.15-Million-Square-Foot in Glendale
Sarival Logistics Center industrial development in Glendale, Arizona has signed a full-building lease totaling 1,156,860 square feet with Logistics Plus, Inc. (LP), a leading worldwide provider of transportation, logistics, and supply chain solution. The building was constructed on a speculative basis and represents the first phase of a larger development which can accommodate … [More]
Tucson Home Builder to Provide Build-to-Rent Communities in Arizona and Montana
Miramonte Homes, an award-winning leader in residential development headquartered in Tucson, announced the launch of Miramonte Communities, a new company specializing in developing build-to-rent multifamily properties. The company announced its first communities in Arizona and Montana. “As home buyers continue to face challenges, including supply and affordability, the … [More]
Optima Moves Ahead with $1B Sustainable Mixed-Use Development in North Scottsdale
Award-winning real estate development firm, Optima, announced today plans to move ahead with its next Arizona residential development, Optima McDowell Mountain Village, in North Scottsdale after receiving the city’s approval for the $1 billion sustainable mixed-use community. Breaking ground spring/summer 2023, the 22-acre site, located on the southeast corner of Scottsdale … [More]
Liv Communities Breaks Ground on Active Adult Living Community in North Phoenix
Liv Communities, a seasoned provider of luxury apartment homes, recently broke ground on a ground-breaking 55+ age- qualified rental community in the Norterra area in North Phoenix. The upscale community, Liv+ Union Peak, 25400 N. 21st Ave., Phoenix, will boast 145 units and will be ready for occupancy in late summer/early fall of 2024. “Building on our extensive … [More]
356-Unit Apartment Complex Sells for $116M in Gilbert
Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Liv Crossroads, a 356-unit multifamily property in Gilbert, Arizona. The $116 million sales price represents $325,843 per unit. “Adhering to the principles of the Liv Communities’ brand, the property offers a unified culture built around a lifestyle that encourages … [More]
CRE Co. Completes $255 Million Sale of Four-Property Seniors Housing Portfolio in the Phoenix
Newmark announces the $255 million sale of a four-property, Class A seniors housing portfolio—LivGenerations—located in Phoenix, Arizona. Newmark represented the seller, regional owner/operator and developer Liv Communities, in the transaction. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care units. … [More]
Iconic Esplanade Campus Announces $45 Million Capital Plan
The ownership of the Esplanade office buildings have announced plans to fully renovate and upgrade the renowned and prestigious four building campus. Located at 2425, 2525, 2575, and 2555 E. Camelback Rd. in the Biltmore area, the $45 million project will add approximately 30,000 square feet of new amenity space and overhaul the existing buildings. Construction is expected to … [More]
Optimizing HVAC Systems – Decarbonize Building Operations, Save on Operating Costs
With current and upcoming carbon footprint reduction requirements aimed at reducing greenhouse gas emissions, now is an excellent time to look at simple ways HVAC systems can contribute to building decarbonization goals while simultaneously lowering energy costs. The Refrigerant-Oil Relationship Before we can discuss solutions to enhancing the sustainability of HVAC systems, … [More]
