Virgin Industrial Park, a five-building, 1.5 million-square-foot Class A industrial project, has broken ground in the booming Loop 303 Corridor, on the northwest corner of Olive and Reems roads in metro Phoenix’s West Valley. The project is being developed by IndiCap, a boutique commercial real estate company specializing in industrial investment and development in the … [More]
Empire 101 Is New Infill, Class-A Industrial Project in Peoria
On behalf of KBC Advisors Arizona, Phoenix-based Stevens-Leinweber Construction has started construction on Empire 101, a 152,134-square-foot Class A industrial project fronting the Loop 101 freeway, at 89th Avenue and Sweetwater Road in Peoria, Arizona. Completion is expected in January 2024. Located just 12 minutes from the new TSMC semiconductor Fab plant and with access … [More]
Phoenix’s Office Market Slows
As high inflation and rising interest rates have begun to influence the real estate market in increasingly impactful ways, Phoenix’s office market has shown a constant slowdown since the beginning of 2023, CommercialEdge data shows. Despite the 2.0 percent growth in office-using jobs on a year-over-year basis as of February, the metro closed the year’s first quarter … [More]
Greater Clarity on Office Attendance Prompts More Companies to Revamp Office Portfolios
Companies are more proactive about office attendance than last year: 65% say they’re requiring in-office work at least some of the time, according to a new survey by CBRE of 207 companies with U.S. offices. This is more than double the respondents that required in-office attendance last year. Partly due to those proactive efforts, office attendance levels at 60% of surveyed … [More]
Luxury Rental Homes in Phoenix Become Part of Mark Taylor Management Portfolio
Mark-Taylor Residential proudly welcomes TerraLane at Park McDowell into their management portfolio. Owned by TerraLane Communities, these detached, luxury single-family homes present an elevated living experience for families seeking an up-and-coming suburban neighborhood. With a heightened focus on technology, functionality and accessibility, TerraLane at Park McDowell’s … [More]
New 599,486 SF Industrial Complex in Glendale Sells for $81.7M
Cushman & Wakefield has advised US Capital Development (“USCD”), a first-class corporate industrial and office development firm, in the sale of a newly constructed 599,486-square-foot (SF) Class A industrial building in Glendale (Phoenix), Arizona. Falcon Park 303 - Phase I was built on a speculative basis in 2022 and is 100% leased. The freestanding building is part of a … [More]
PV Mall Redevelopment Gets Fox Concepts and More
RED Development today revealed six new tenants are opening at PV, the highly anticipated redevelopment of the former Paradise Valley Mall, with an impressive roster ranging from restaurants, including two concepts by notable restaurateur Sam Fox, to global beauty retailers and services along with the expansion of local favorites opening in 2024. Fox Restaurant Concepts is … [More]
Los Angeles Retail Investment Firm Sells Grocery-Anchored Center in Phoenix, Generating Excellent Returns
Westwood Financial, a leading commercial retail real estate investment firm, is pleased to announce the successful sale of Ahwatukee Mercado, a well-established grocery-anchored shopping center in Phoenix, Arizona. The property was sold to a private buyer after a hold period of 3.7 years, resulting in a profitable opportunistic return and an impressive equity multiple of … [More]
New Residential Tower Begins Leasing in Downtown Phoenix
LV Collective, an Austin, Texas-based multifamily and student-oriented real estate developer, begins leasing its newest multifamily project, Moontower, located at 811 North 3rd Street, Phoenix, AZ. The 326-unit, 309,716-square-foot project is scheduled for residents to begin moving in on June 15, 2023. Located on the edge of Phoenix’s walkable arts district Roosevelt Row, … [More]
Luxury Apartments and Detached Homes for Lease in Phoenix’s Growing Submarket
Mark-Taylor Residential, Arizona’s leading Investment Manager of luxury multifamily communities, proudly welcomes Harmony at Hurley Farms into its esteemed management portfolio. As their fourth asset in partnership with local development group Treger Partners, the community features rental homes designed to exceed expectations and offer residents a luxurious and convenient … [More]
$585M Loan Finalized to Complete The Palmeraie and The Ritz-Carlton Paradise Valley
Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, announced that it has originated a $585 million loan to Five Star Development for the completion of The Ritz-Carlton Paradise Valley, The Palmeraie and The Palmeraie, a mixed-use, ultra-luxury retail, dining and residential development in Paradise … [More]
Big Box Brands to Fill Anchor Spaces at Retail Center in Queen Creek
Target is coming to Vineyard Towne Center, the 260,000-square-foot retail center Vestar is developing in Queen Creek, Arizona. The mega retailer will join Sprouts Farmers Market as a second anchor in the open-air center, which is one of five ground-up developments Vestar is building in Arizona. Sprouts will open in July 2023 and Target’s opening is slated for the spring of … [More]
Dallas-Based Contractor Opens First Arizona Office in Queen Creek
Dallas-based MYCON General Contractors, Inc. announced its third branch location – Queen Creek, Arizona. The award-winning commercial contractor, with offices in Dallas and College Station, Texas has opened the Arizona office to better serve several regional projects for one of the firm’s largest clients. MYCON’s new office is located in the new Scotland Court Industrial … [More]
NAI Horizon Managing Director Earns Prestigious Designation
NAI Horizon Managing Director Laurel Lewis has earned the SIOR office designation awarded by the Society of Industrial and Office REALTORS®. SIOR is the world’s premier commercial real estate organization for industrial and office professionals. Individuals who earn their SIOR designation adhere to the highest levels of accountability and ethical standards. Only the … [More]
Global Transportation and Shipping Co. to Open Office in Tempe’s New 777 Tower
MSC Mediterranean Shipping Company, a global leader in transportation and logistics, announced plans to open its new MSC Tempe office, expanding the company’s network of locations across the United States. Located on the Arizona State University (ASU) campus, construction of the state-of-the-art 777 Tower is set to be completed by Spring of 2024. The 28,302-square-foot space … [More]
Luxury Condominium Community from Chicago Developer Breaks Ground in North Scottsdale
Belgravia Group, Chicago’s award-winning real estate developer, has announced the groundbreaking of Portico, the highly-anticipated luxury condominium community featuring 112 homes located just northeast of Scottsdale Road and the Loop 101. Sales of the two-, three-, and four-bedroom condominiums have been strong, with nearly 50% of the project already sold. Initial … [More]
Another Industrial Facility Breaks Ground in the Heart of the West Valley Market
Mohr Capital and Rosewood Property Company have kicked off construction on West Summit Logistics Park, in Surprise, Arizona. The logistics park will consist of two Class-A industrial buildings totaling 704,472 square feet across 46 acres of land. “Summit Business Park will sit in a prime location in one of the best markets in the country,” said Bob Mohr, chairman of Mohr … [More]
International Law Firm Finds New Home on Camelback
Perkins Coie, a leading international law firm headquartered in Seattle, has signed a long-term lease for a new office location in Phoenix, Arizona. The law firm will occupy 30,955 square feet at Camelback Esplanade, a Class-A project located at 2525 East Camelback Road in central Phoenix that will be undergoing a significant upgrade and renovation that began this … [More]
