Link Senior Development and The Roxborough Group, LLC announce the acquisition of Park Terrace Senior Living, an amenity rich, 301-unit independent living and assisted living community in Phoenix, Arizona. "Park Terrace is an exciting venture for Link as we plan for the next chapter of this thriving community by pulling from our extensive experience developing and operating … [More]
YES Signs Lease for Technology Center in Chandler, Creating Nearly 100 Jobs
Yield Engineering Systems, known by the acronym YES, has leased 123,000 square feet within the Price Corridor in Chandler, Arizona. The facility will support YES in serving the region’s thriving semiconductor industry. YES develops and manufactures thermal, deposition, and wet process equipment that is used in semiconductor, life sciences, and display manufacturing. The … [More]
Game-Changing Phoenix-Based Development Group Purchases First Property, Goal to Better Serve Communities
Thrive Development Group, based out of Phoenix, Arizona, recently purchased The Shops at Apache Junction, located at 185 W. Apache Trail. This is the commercial developer’s first commercial real estate purchase since it started in March of this year. The Shops at Apache Junction, which was built in 1998, was previously owned by War Chest Real Estate, LLC. This retail center … [More]
Indianapolis-Based Real Estate Co Buys 68 Acres in Queen Creek for Industrial Development
Thompson Thrift Commercial, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the acquisition of approximately 68 acres of land zoned for industrial development, just west of the southwest corner of Germann Road and Meridian Road in the Phoenix suburb of Queen Creek. "We are thrilled to grow our presence in the booming Queen Creek area," said … [More]
Opportunity Zone Investor Continues Redevelopment Efforts in Downtown Mesa
Caliber, an Opportunity Zone investor, announced that it has leased two more of its properties in Downtown Mesa as part of the Company’s ongoing redevelopment efforts in the city. Level 1 Arcade Bar will be moving into 48 W. Main Street, bringing a family friendly environment for all ages to enjoy a retro arcade experience with fully restored arcade and pinball machines … [More]
Fairmont Hotels & Resorts Adds Luxury Hotel and Residences in Downtown Phoenix
Fairmont Hotels & Resorts, part of world leading hospitality group Accor, together with Thunderbird Legacy Development, announced the signing of definitive agreements for the development and management of a new Fairmont Hotel and Residences in downtown Phoenix. Scheduled to open in early 2025, Fairmont Phoenix will offer a luxury hotel and residential experience unlike … [More]
Cleveland Investor Buys Multi-Tenant Property with Major Healthcare Co. as Key Tenant
Cushman & Wakefield announced the firm has brokered the sale of Optum Center, a five-story 81,907-square-foot Class A multi-tenant office and medical building in Phoenix, Arizona. Located at 20414 North 27th Ave, the property also includes a five-and-a-half level parking garage on site. The building was 94% leased at sale, with UnitedHealthcare being a main tenant of the … [More]
Population Growth and Office Construction Are Thriving Together
The last 10 years have brought about many challenges, beginning in the depths of the financial crisis and culminating with the beginning of one of the worst global health crises in a century that has affected every single part of everyday life — especially how and where we work. Yet, data shows that cities are still growing. They’re the place to be for work, play and growing … [More]
Phoenix Is the Next Area of Opportunity for Chicago-Based Development Group
The Phoenix metro area is home to some of Chicago’s greatest exports — Chicago Cubs Spring Training, Portillo’s and Lou Malnati’s Pizzeria, to name a few. Soon, Phoenix will also be home to Belgravia Group’s first out-of-Chicago development — Portico. It’s a monumental and exciting move for the 70-plus-year-old luxury development firm — and a natural one. Belgravia Group’s … [More]
Upscale Retail Town Center for Verrado
A major retail center is due to start taking shape mid next year at the Verrado development in Buckeye. DMB Associates, the master developer of the 8,800-acre Verrado master-planned community, is partnering with Vestar, the largest privately-held shopping center owner, developer and manager in the western United States, to create a dynamic retail center. Verrado Marketplace … [More]
Dominium Addresses Area’s Affordable Housing Need
With the grand opening last month of Solstice of Mesa, Dominium celebrated its first new construction project in Arizona — a 289,840-square-foot, 237-unit apartment complex for seniors earning no more than 60% of area median income. Located at Hawes and Broadway roads, the project is already 100% leased due to need in the area. Tofel Dent Construction of Tucson was the … [More]
Lincoln Property Co. Readies Next Phoenix Mega Project
LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has completed a $53 million, 140-acre land acquisition in Glendale, Arizona, for its next mega metro Phoenix industrial project, Luke Field. The $515-million, 2.3-million-square-foot development is bordered by Litchfield Road, Northern Avenue, the new Northern Parkway and Luke Air Force Base. It is minutes … [More]
IndiCap and AECOM-Canyon Partners Enter the Phoenix Market with Planned Industrial
IndiCap, a newly formed boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48-million acquisition of two parcels of land totaling 113 acres in the Eastmark master-planned community … [More]
ViaWest Group Closes on 4th Opportunity Zone Deal
ViaWest Group, in a joint-venture with American Opportunity Zone Advisors LLC, has acquired an 8.8-acre land parcel in Goodyear, one of the top 10 fastest-growing cities in the U.S. and Arizona’s second-fastest-growing city, adding a valuable development parcel to its extensive portfolio. This unimproved land site is situated immediately south of its Goodyear Crossing … [More]
Prologis Phoenix Project Moves Forward
Prologis has, once again, big development plans for Goodyear, Ariz., and recently received the local authorities’ support. The Goodyear city council approved the designation of the 113-acre Prologis 303 Business Park as a magnet site within the Greater Maricopa County Foreign Trade Zone, which would translate to a 72 percent reduction in real property and equipment tax, among … [More]
REIM of Scottsdale Launches New Hybrid Brokerage Specializing in Urban Townhomes
Real Estate Intelligent Marketing (REIM) of Scottsdale is joining forces with Craig Young and Nathan Ottosen of Young|Ottosen, also of Scottsdale, to launch a new hybrid brokerage venture to erase typical real estate silos by connecting commercial and single sale residential real estate services. REIM brings deep experience and relationships with multifamily investors and … [More]
Phoenix Office Construction Downshifts
The Phoenix office market witnessed both highs and lows in the first quarter of 2022, according to CommercialEdge. Office construction slowed down across the metro in Q1, as only 1 million square feet of office space was underway as of March, an amount representing 0.8 percent of stock; the national pipeline had reached 2.2 percent. In the same period, completions accounted for … [More]
Park Central Continues Growth With New On-Site Life Sciences Hub
A life sciences boom is underway in midtown Phoenix, making healthcare and bioscience among the fastest-growing industries in the greater Phoenix marketplace — and Park Central is at the heart of it, with plans for a new life sciences hub on site. The project’s development team has created an exciting conceptual design for an 80,000-square-foot life sciences facility in the … [More]
