Institutional owner and investor Westwood Financial, Phoenix-based retail brokerage specialist Western Retail Advisors has completed a string of leases that bring the Agua Fria Plaza retail center in Phoenix’s West Valley to 100% leased. The center, which is located at the southeast corner of 91st and Olive avenues in Peoria, sits directly along the Loop 101 Freeway, just … [More]
New Developments Represent a $195M Investment, Add over 550 Single-Family Rental Units to Phoenix Market
Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United States, announced plans to develop three new build-to-rent (BTR) communities in Arizona. The three communities will add more than 550 single-family rental homes to the Phoenix metropolitan area. Sunstone Two Tree now has nine BTR communities totaling close to … [More]
Construction Co. Marks Start of New Municipal Complex for City of Surprise
Willmeng and the City of Surprise kicked off work on a multi-faceted municipal project that will include a new fire station as well as a community pool and park. This project is located north of Cactus Road at Perryville Road in the fast-growing southwest portion of the City of Surprise. Fire Station 309, the Aquatics Center and park will be situated on the same site and will … [More]
96-Unit Affordable Housing Project at Bret Tarver Terrace Gets Financed
The Phoenix IDA recently provided $18.4 million in Multifamily Housing Revenue Bonds in support of Bret Tarver Terrace, a 96-unit affordable housing project that will be constructed on 3.42 acres on the southwest corner of McDowell Road and 31st Avenue in Phoenix. The project – named after a Phoenix firefighter who died in the line of duty – will include one-, two- and … [More]
MCO Realty Acquired by Top Arizona Brokers Louis McCall and Michael Gant
MCO Realty, a cornerstone of Fountain Hills' real estate landscape for the past four decades, has been acquired by esteemed Arizona real estate brokers Louis McCall and Michael Gant. This landmark acquisition marks a new chapter in the legacy of MCO Realty, which has been an integral part of Fountain Hills' identity and growth since its inception. "This acquisition is a … [More]
Landmark Camelback Corridor Buildings Sold by Lincoln Property Company for $72.1M
Lincoln Property Company’s Southwest division, LPC Desert West (LPC), has sold the landmark 3131 and 3133 Camelback to an entity of Presson Corporation, led by local investor Daryl Burton for $72.1 million. With a premier location at the southwest corner of 32nd Street and Camelback Road, in the heart of the Camelback Corridor, the project boasts the highest average occupancy … [More]
Changing Growing Cities Like Phoenix One Urban Infill Project at a Time
Five cities in Arizona were recently listed among the 15 top fastest-growing cities in the U.S. – Queen Creek, Buckeye, Casa Grande, Maricopa, and Goodyear. As a result of rapid growth in metro Phoenix, the city launched an Adaptive Reuse Program, which is one of the most comprehensive programs of its kind. While growing economic vitality, the program encourages developers to … [More]
Community Park Second Phase Opens in Expanding Valley City
Willmeng Construction and the City of Buckeye celebrated the completion of Sundance Park Phase II and showcased the expanded park to the public with three days of events on Sept. 15-17. Sundance Park, located at 22865 Lower Buckeye Rd., is now 68 acres in total with the addition of the 38 acres of Phase II and features Buckeye’s first public fishing lake. “This project is a … [More]
Expanding CRE Co. Brings Four Industry Leaders from JLL to Solidify Office Leasing Team in Phoenix
Stream Realty Partners has recruited a seasoned four-broker office leasing team with nearly eight decades of combined commercial real estate experience to build a best-in-class operation in Phoenix. Managing Directors John Bonnell and Brett Abramson, Senior Vice President Chris Latvaaho and Vice President Chris Beall join Stream Realty, a national commercial real estate firm … [More]
Vestar and Arizona State University Partner to Launch First-Ever ‘Cool Pavement Project’ at a Commercial Shopping Center
Vestar, one of the leading privately held shopping center owners and managers in the western United States, has joined forces with Arizona State University’s (ASU) Southwest Integrated Field Laboratory (SW-IFL) to launch the first-ever ‘Cool Pavement Project’ at a commercial retail center. The partnership comes on the heels of this summer’s record-breaking heat and aims to … [More]
Texas Property Management Co. Acquires More Multifamily Units to Their Metro Phoenix Portfolio with Award-Winning Property in Gilbert
Olympus Property, a renowned real estate investment and property management company, proudly announces the successful acquisition of Aiya, a 360-unit garden-style community nestled in the heart of Gilbert, AZ. Crafted in the image of a high-end resort, this Class A newly developed property is widely regarded as Gilbert's top retreat and has earned recognition by the National … [More]
A Suburban Luxury: New Townhome Rental Housing in Surprise
Mark-Taylor Residential is pleased to introduce Sierra Verde, a brand-new development featuring luxury townhomes. In collaboration with Sunstone Two Tree, this build-to-rent community is addressing the need for multifamily housing options in the rapidly expanding market of Surprise, Ariz. Located at 15240 N 142nd Ave with direct access to Loop 303, Sierra Verde offers two- and … [More]
Los Angeles Capital Co. Expands to Arizona, Hires Executive
WAY Capital, a leading commercial real estate capital markets advisor, announces the opening of a satellite office in the Phoenix, Arizona area and the hiring of RJ Opeka as Head of Agency Finance. In his new role, Opeka will oversee WAY Capital’s joint venture with Regions Bank to provide multifamily loan programs of Fannie Mae and Freddie Mac. He works out of WAY’s new … [More]
Evergreen Devco Breaks Ground on First Industrial Project in Arizona
Evergreen Devco, Inc., a leading retail, multifamily and industrial development company, announced the groundbreaking of its first-ever industrial development in Arizona. The 9.4-acre site located northeast of the intersection of Litchfield Road and Desert Cove Road in Surprise will soon be home to a state-of-the-art 168,000-square-foot industrial building. Industrial … [More]
Colorado Builder Announces New Home Collection at Established Community in Buckeye
Century Communities, Inc., a top 10 national homebuilder, industry leader in online home sales, and the highest-ranked homebuilder on Newsweek's list of America's Most Trustworthy Companies 2023—revealed that the company has added a new home collection to Village at Sundance in Buckeye, conveniently located west of Phoenix with quick access to I-10. Now selling … [More]
New President Named at Kitchell Contractors
Chris Kirch was recently named President of Kitchell Contractors Inc., taking the reins of one of the oldest commercial building contractors in the Southwest as it moves into a new era of leadership. “We are experiencing unprecedented innovation and growth as it relates to how and what we build,” said Kitchell President & CEO Wendy Cohen. “As someone who has lived this … [More]
The Strength of Arizona’s Multifamily Market
The Arizona multifamily real estate market remains one of the hottest in the country and the demand is only rising. The market’s success can be attributed to a perfect trifecta of conditions: tremendous population growth, an exceptionally strong job market and a diminished single-family housing supply that has kept Arizona as the multifamily darling of the real estate world. A … [More]
Construction Trends
The building industry has taken several major hits in the last few years — COVID shutdowns followed by labor and supply shortages, the ongoing climate crisis and economic changes are just a few — and because of that, it’s an interesting area to look at for trends. People innovate when they need to problem solve, and each of these setbacks has brought forth exciting new advances … [More]
