Newport Beach, CA-based BKM Capital Partners, a vertically integrated institutional fund manager, acquired Mesa Ridge Business Park in Metro Phoenix for $38,350,000. The 153,000-square-foot light industrial park includes seven buildings in North Mesa and was sold by Mesa Ridge Business Park I, LLC, a company formed by Randall Investment Group, Michael Wilson, and Eric … [More]
Real Estate Crowdfunding Co. Finds Success with Midtown Complex Investment
In less than a day Arizona-based real estate crowdfunding company Neighborhood Ventures reached 77% of its target fund amount for Venture on 12th Place, a 30-unit contemporary apartment complex in Midtown Phoenix. Since its launch, 130 Arizona locals have invested a total of $1,161,000 into the property, The target hold period for this project is three years, with a targeted … [More]
Leading Sports Brand Commits to One Million Square Feet in Glendale
Cresset Partners announced that it had agreed to a 15-year lease with PUMA, one of the world’s leading sports brands. PUMA will lease a one million square foot building at 303 Crossroads, a logistics development located outside Phoenix, Arizona and developed in partnership with Clarius Partners. 303 Crossroads is the second state-of-the-art warehouse project to be completed … [More]
Sale-Leasebacks Allow Property Owners to Have Cake and Eat It, Too
Economists continue to debate whether a recession is coming, but most agree some kind of market correction is on the horizon. As a result, some business owners — especially those who own their buildings — are considering getting out while the getting is good. Having an exit strategy in mind when investing in income-producing commercial real estate is imperative regardless of … [More]
Prop Tech Is Streamlining the Real Estate Investment Process
High population growth areas like Phoenix are struggling to keep up with the real estate market’s demands because of low inventory. To help close the housing gap in the U.S. and bring properties to the market faster, Stoa’s iBuyer platform, FlipOS, focuses on helping professional real estate investors acquire and flip residential properties at an accelerated rate. There are … [More]
Land Sale Adds to the Expansion and Development of Litchfield Park
The recent sale of 5.45 acres on the southwest corner of Citrus and Bethany Home roads, which traded for $2,200,000, served as a stepping stone for the area as it not only generated the highest price per square foot for land in the area but also sparked the residential development of 182 acres across the street. The buyers plan to develop a state of the art self-storage … [More]
Cavasson Continues Growth with Commitment from Meritage Homes
Cavasson, a development at Loop 101 and Hayden Road in Scottsdale, recently added leading U.S. homebuilder Meritage Homes’ corporate headquarters to the strong mix of tenants that so far includes Stealth Partner Group, Sigma Company’s Bar-S Foods and Quantum Group. “This significant commitment from Meritage Homes paves the way for the next phase of office development at … [More]
The Future of Work: Dynamic Environments
As we think about the future of work, we know we’re not going back to the old ways of doing things. We have an opportunity to explore new possibilities, bringing the best of how we worked during the pandemic to work better post-pandemic. We can imagine a new workplace ecosystem that puts the focus on what’s best for individuals and teams based on how they do their best work. … [More]
Contour JV Lands $68M for Large Phoenix-Area Development
Contour and co-developer Miramar Industrial Partners, the industrial arm of Miramar Capital, along with capital partner DWS Group, have obtained financing for Southern Industrial Center, a 1.2 million-square-foot development in Buckeye, Ariz. Bank OZK provided the $67.7 million construction loan, Maricopa County records show. The partnership acquired the 77-acre … [More]
Walton Global Sells Land in Industrial Foreign-Trade Zone in Eloy
Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, has sold 92 acres of land in the city of Eloy, Arizona. The property is an industrial zoned project within a partially developed master plan called Sunshine Industrial. “The City of Eloy has experienced rapid growth over the last few years as businesses flock to … [More]
Family Construction Co. Rebrands after 30 Years, Looks Ahead to What’s Next
A new company name. A new brand. A new team of leaders. After 30 years, still – and always – a family business. Historically known as an industrial new-build firm, Renaissance Construction – formerly Renaissance Companies – is rebranding and shifting its focus to encompass business on both ends, new-build and tenant improvements, among several market types, to support its … [More]
Unconventional Marketing Results in Sale of Two Properties, Arizona Opera Gets Housing for Musicians
SVN Desert Commercial Advisors is excited to announce the sale of two Multifamily properties in Phoenix, AZ. Carrick Sears and Royden Hudnall utilized co-operative marketing and market knowledge to secure the sale of both unique properties in under 90 days. Palm Lane Apartments was sold for 6.5% over list price, a remodeled property in turn-key condition. The 12-unit … [More]
Tech, Logistics Companies Dominate Pre-Leases at Downtown Tempe Property
Months before its heavily amenitized, experiential office project, Arbor, is slated for completion, Phoenix-based developer George Oliver is already amassing pre-lease commitments. Dominated by tech and logistics entities, Arbor’s lease cadence is notable within a metro Phoenix office landscape that is slowly coming back to life following the COVID-19 pandemic. Located in … [More]
Homebuilder Debuts 12 New Community Model Homes in Gilbert
Tri Pointe Homes®, a recognized leader serving the Phoenix market for more than 30 years under the name Maracay®, has announced the opening of 12 new model homes and two new home galleries at Waterston North, a new 485-home community located in the southern part of Gilbert in Phoenix’s coveted East Valley area. Customers can now make an appointment to tour the model homes – two … [More]
Redevelopment of the Iconic Papago Plaza in South Scottsdale Takes Shape
The redevelopment of the iconic mixed-use Papago Plaza, recognizable to many long-time area residents for its Pueblo-style design dating to the 1960s, is taking shape as the area’s demographics are growing and the plaza generates strong interest with multiple offers from restaurateurs and retailers. Acquired by Scottsdale’s Pivot Development in 2015, Pivot has been exploring … [More]
$850 Million Build-to-Rent Joint Venture Announces Nine Asset Closings since Inception
Scottsdale-based Taylor Morrison Home Corporation, a leading national land developer and homebuilder, and Värde Partners, a leading global alternative investment firm, are pleased to share that they have quickly scaled their Build-to-Rent joint venture. In the first several weeks since the venture's inception, it has closed on nine assets across Texas, Florida, North Carolina … [More]
46-Acre Property Closes, Construction of Class A Industrial Park to Start Aug 2022
Mohr Capital, a Dallas-based privately held real estate investment firm, acquired 46.26 acres in one of Arizona’s fastest-growing cities to develop Summit Business Park, a Class A industrial business park in the West Valley. Summit Business Park will offer a combined space of 704,472 square feet of leasable industrial space with 453,960 square feet in Building 1 and 250,512 … [More]
