Tri Pointe Homes®, a recognized leader serving the Phoenix market for more than 30 years under the name Maracay®, has announced the opening of Sentinel at Oro Ridge, a 52-home neighborhood located within the expansive Oro Ridge planned community in Queen Creek, Arizona. “Sentinel at Oro Ridge is the culmination of our vision to create a neighborhood that perfectly embodies … [More]
209 New Built-to-Rent Luxury Townhomes Set to Go on Market in Gilbert
Mosaic, the nation’s leading institutional-grade general contractor, is nearing completion of the first homes at Town Germann, a 209-unit community by Family Development, a California-based build-to-rent developer. Family Development has begun pre-leasing the first of the luxury townhomes for imminent occupancy, beginning in the spring of 2023. Family Development and Mosaic … [More]
New Luxury Detached Rental Homes and Townhomes Open in North Phoenix
Mark-Taylor Residential, Arizona’s leading Investment Manager of luxury multifamily communities, proudly welcomes BB Living at Union Park into its esteemed management portfolio. In partnership with developer, BB Living, these brand-new spacious homes for rent in Phoenix, Ariz., combine the best of convenience and style. In the highly sought-after North Phoenix neighborhood … [More]
Building for World’s Largest Digital Corrugated Packaging Printer is Completed in Phoenix
Phoenix-based Stevens-Leinweber Construction (SLC) has completed the custom build-out of 160,000 square feet at Phoenix Logistics Center (PLC) Two, designed to meet the manufacturing and distribution needs of new tenant Georgia-Pacific LLC and its HP PageWide T1190 Press, the world’s largest high-volume digital pre-print solution for corrugated packing. The new press was … [More]
Phoenix Boasts 3rd Highest Amount of Available Vacant Land Among Major U.S. Cities, Says Survey
The newest study published by CommercialCafe analyzes how much vacant land is available in 20 of the most populous urban centers in the U.S while also highlighting the construction activity in each area. For this, the team estimated undeveloped land sizes using the most recent data made available by Property Shark and online government records, and identified local … [More]
Industrial Buildings, Totaling 216,322 SF, in Southeast Phoenix Sell for $40.15M
ViaWest Group and their institutional Joint Venture Partners sold Chandler Crossroads I & II, a Class A industrial project totaling 216,322 sf in Chandler (Phoenix), Arizona. Developed in 2016 and 2022, respectively, the Southeast Valley portfolio consists of two buildings located at 2800 & 2900 S. Gilbert Rd. At time of escrow, the project was 78% leased, but the … [More]
Homebuilder Announces Launch of Arizona Home Building Division With the Opening of New Communities
Brookfield Residential, an international land developer with more than 65 years of home building experience is proud to announce the launch of its Arizona home building business with the opening of two new neighborhoods at Alamar in Avondale. Nestled in the foothills of the Sierra Estrella Mountains is Alamar, a Brookfield Residential master-planned community spanning across … [More]
San Francisco Multifamily Investor Acquires Community in Phoenix
San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 296-unit Springs at Deer Valley apartment community in Phoenix. The purchase marks the firm's seventh property in their current portfolio in the state of Arizona. The community will be rebranded as the Ironwood at Happy Valley apartments. The property was marketed by Walker & Dunlop's investment … [More]
Phoenix Market Can Expect Strong Hotel Growth, Says Report
CBRE is raising its forecast for hotel performance in the Phoenix metro and nationally on the heels of industry gains in Q4 2022 and the expectation of slightly positive GDP growth in 2023 according to the CBRE Hotels report. In Phoenix, revenue per available room (RevPAR) in 2023 is expected to increase to $122.30, up 8.5% year-over-year and an increase of $2.45 from its … [More]
New Owner Formally Submits Plans to Transform the Smoke Tree Property into Boutique Hotel
After much public outreach, Scottsdale-based Walton Global, a real estate investment and land asset management company with US$3.4 billion under management, has submitted an application with the Town of Paradise Valley to redevelop the old Smoke Tree Resort near Scottsdale Road and Lincoln Drive in Paradise Valley. The development team was sensitive to the needs and concerns … [More]
4,150 Acre Land Site in Florence Sells, Planned for 12,000 Homes and Commercial Space
GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, announced the sale of 4,150 acres at Merrill Ranch to El Dorado Holdings. Merrill Ranch is located in Florence, AZ, in close proximity to the Phoenix's Southeast Valley, about 20 miles southeast of … [More]
Apartments in Phoenix Metro are Getting Larger, Despite Rentals Shrinking All Over the U.S.
U.S. apartments shrunk in size the past decade, hitting a new low of 887 square feet, on average. According to the latest RentCafe report — in which we looked at changes in apartment size in the 100 largest U.S. cities — new units will keep getting smaller and smaller. Shrinkflation hasn’t reached rentals in Phoenix metro yet. In fact, apartments here got larger in the last … [More]
New Innovation Workforce Center in Chandler Is Home for Training of Construction Trades for Area Builder
McCarthy Building Companies Inc. unveiled its new multifunctional Innovation and Craft Workforce Center (ICWC) with a ribbon-cutting ceremony. The facility serves as home to the firm’s craft workforce training, providing career development opportunities for those in the trades and the next generation of craft workers. The 40,000-square-foot, two-story facility, located at … [More]
All Mixed Up: How Mixed-Use Development Is Transforming Commercial Real Estate
“The world has changed and so has the world of development,” says Charley Freericks, senior vice president of Catellus Development Corporation. “Three years of living with COVID-19 has created new economic pressures, social inequities and a greater need for connection. People are looking for convenience. They want to work closer to home and live in a place with easy access to … [More]
Christine Mackay, City of Phoenix
Mix and Match
They have it all. The most exciting developments in Phoenix combine retail, restaurants and residential … and office, hotel, education, entertainment and community space — or at least several of these on the same parcel of land. And if you think these are all high-density vertical towers in the urban centers of our Valley … think again. Like the Phoenix that rose out of the … [More]
Feedback: March 2023
What are you finding most important in attracting people to multifamily projects, and is this different for different areas of the Valley? John Kobierowski President & CEO ABI Multifamily Sector: Real Estate When it comes to attracting multifamily investors, strong rents and high occupancy rates are the top factors. In the Phoenix market, occupancy rates have … [More]
Casa Grande Is Hot for Industrial Growth
Dale Cavan, a Phoenix-based developer, has purchased a 24-acre parcel in Casa Grande at the southeast corner of Thornton Road and Ash Avenue, with plans to build a new commerce park. The Casa Grande Commerce Park will feature a series of speculative buildings under 70,000 square feet to accommodate industrial needs in the area. Kirk McCarville, CCIM, and Trey Davis with … [More]
Gilbert Industrial Project Demonstrates Leasing Strength of Southeast Valley
On behalf of developers GID and SunCap Property Group, Graycor Construction Company has completed construction on Gilbert Spectrum Buildings 9, 10 and 11, three brand new Class A buildings within the 64-acre Gilbert Spectrum industrial park, located at McQueen and Elliot roads in Gilbert, Arizona. Being leased by Ken McQueen and Chris McClurg of Lee & Associates … [More]
