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]
Dignity Health Breaks Ground on a 45,000 SF Medical Building in Gilbert
A celebratory groundbreaking ceremony took place on Wednesday, April 20, 2022 to mark the commencement of construction on Mercy Gilbert Medical Center Medical Office Building III. The new, two-story 45,0000 SF facility will be located at 3477 South Mercy Road Gilbert, AZ. The project is the third medical office building located near the Dignity Health Mercy Gilbert Medical … [More]
Sentral Brings Innovative Flexible Living Concept to Scottsdale
Sentral, the category-defining prop-tech company building the world's largest flexible living community, today announces the addition of its 12th community to its rapidly growing portfolio – Sentral Old Town in Scottsdale, Arizona. With more than 28 percent rent growth in Scottsdale from February 2021 to February 2022, the city's newest flexible living community offers … [More]
Homebuilder Acquires 252 Acres for 774 New Homes in Valley Hot Spot
Tri Pointe Homes® Arizona, a recognized leader serving the Phoenix market for over 30 years under the name Maracay®, has announced the acquisition of 252 acres to build 774 new homes in the Ware Farms planned community, located in the highly sought after San Tan Valley. The more than $27.7 million land transaction fits Tri Pointe Homes’ strategy of building quality, innovative … [More]
Work Starts on One-Million-Square-Foot Central Station High-Rise in Downtown Phoenix
Medistar Corporation, GMH Communities, and CBRE Investment Management were joined by Phoenix Mayor Kate Gallego, Vice Mayor Laura Pastor, Councilwoman Yassamin Ansari, and an audience of business and community representatives, to celebrate the ceremonial groundbreaking of Central Station, a dynamic one-million-square-foot mixed-use development that will sit adjacent to Civic … [More]
Smooth Sailing for Phoenix’s Office Developments
Office construction continued steadily across Greater Phoenix in February, according to CommercialEdge, with no additions to the metro’s pipeline. Some 2 million square feet of space were underway in The Valley, accounting for 1.5 percent of stock. All current developments are slated for completion throughout 2022. Most projects will add traditional office space to The … [More]
Industrial Park Breaks Ground in Peoria, Attracts Top Tenants
VanTrust Real Estate, LLC, a full-service commercial real estate development company, broke ground on Phase I of the 150-acre Peoria Logistics Park, which will consist of up to eight buildings. The project represents the largest Class A industrial park to be developed in the Peoria submarket. Peoria Logistics Park is located just two miles east of the Loop 101 at the … [More]
Health Sciences Center Coming to Phoenix
Phoenix will soon harbor a new University of Arizona Health Sciences research facility. Once completed, The Center for Advanced Molecular and Immunological Therapies (CAMI) will serve as a health sciences hub for the study of the immunology of cancers, infectious diseases and autoimmune conditions. CAMI will anchor the 30-acre Phoenix Bioscience Core, the planned 6 … [More]
BioProcure Announces Office Expansion to Chandler
BioProcure, the premier procurement and accounts payable services company for biotech companies, announced today its expansion to a temporary office in Chandler, Arizona. BioProcure expects the temporary office to be operational in April 2022 with plans to establish a permanent Arizona location by 2023. BioProcure will be located within Workpliciti, which is a flexible office … [More]
Buckeye’s Largest Industrial Complex Development Is Underway
The 145-acre project, titled Buckeye I-10 Logistics, is the largest industrial complex under development along Buckeye’s I-10 frontage Freeway, just west of Verrado Way. The industrial park will be constructed with over 2.2 million square feet of industrial space. The 641,000 square foot phase I building has already broken ground with completion expected before the end of 2022. … [More]
Arizona-Based Real Estate Investment Firm Sells Seven Properties for $345M
Scottsdale-based ReNUE Properties announced the official sale of its affordable housing portfolio to Starwood Real Estate Income Trust for $345 million. The deal, which includes seven properties across metropolitan Phoenix, is the largest affordable housing transaction in the state’s history. The transaction, which will be executed in phases beginning with the closing of … [More]
ViaWest Group and Nicola Wealth Real Estate Team Up to Develop 20.77 Acres in Mesa
ViaWest Group and Nicola Wealth Real Estate have purchased a 20.77 Acre industrial development site in Mesa for $9.692 million. The development known as Advanced Industrial Park will be comprised of three single-loaded Class A industrial buildings. Building A will be 122,690 SF, Building B will be 131,737 SF, and Building C will be 80,639 SF, with a total rentable square … [More]
Creation RE and J.P. Morgan Partner to Invest $1B in Industrial Projects
Creation RE, a Phoenix-based real estate investment and development firm, and J.P. Morgan Global Alternatives are investing $1 billion in industrial, warehouse and logistics projects across four states in a newly formed joint venture. The joint venture partners have closed on three of seven planned projects totaling 5 million square feet in Newark, N.J.; Melville, … [More]
Homebuilder Closes Significant Land Purchase in Queen Creek
Mattamy Homes, North America's largest privately owned homebuilder, is pleased to announce that it has closed on a significant land purchase in the town of Queen Creek, AZ. The 88-acre property, known as The Quarters at Queen Creek, was purchased for $23.45 million and is approved for 254 single-family home sites. The deal closed on March 28, 2022. "Our … [More]
Crane Index and Quarterly Cost Report Reveal Construction Trends
International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its latest Crane Index and Quarterly Cost Report. Together, the two documents provide an on-the-ground picture of construction activity in 14 key North American markets and data-driven insights into the industry. Read the complete QCR report here and the Crane Index here. While … [More]
Vertical Street Ventures Acquires Sora on Rose Apartments in Uptown Phoenix
Vertical Street Ventures (VSV) announced the acquisition of Sora on Rose Apartments in Uptown Phoenix. Marcus & Millichap's Paul Bay, Darrell Moffitt, Cliff David, and Steve Gebing oversaw the transaction process, with Bridge Loan financing provided by Arbor's Eric Regenbogen with support from Gantry's Adam Parker and Buyer's Equity provided by Tauro's Paul Davidovic and … [More]
