The intersection of Roosevelt and 24th Street is looking quite different recently as Valleywise Health continues progress on the construction of its brand new, state-of-the-art medical center expected to open in late 2023. The public safety net health care system for Maricopa County broke ground on the 673,000 square-foot, 10-story medical center two years ago on February 26 … [More]
Altera Enters Phoenix Market, Buys Big
In a flurry of recent deals, Dallas-based Altera Fund Advisors has acquired Rome Towers, a 130,000-square-foot medical office building in Gilbert, Ariz., in a four-asset, $75 million portfolio transaction. Woodside Health sold the Class A Gilbert property together with two medical facilities in Middleburg Heights, Ohio, and one in San Antonio. The three additional … [More]
Beginning with the End in Mind
Technology is all around us. It’s so integral to our daily lives that we often forget how reliant we are on the electronics that drive our everyday activities. This means everything from the mechanical and electrical systems in the car we drive to the systems that power our garage door opener or refrigerator. Semiconductors, and a huge variety of microchips/processors, are a … [More]
Luxury North Scottsdale Condos from New-to-Arizona Developer
Luxury condominium project Portico – North Scottsdale, a key piece of DMB’s One Scottsdale master-planned development, will kick off Belgravia Group’s entry into the Arizona market. The development at Loop 101 and Scottsdale Road, by the award-winning Chicago-based real estate development firm, will be comprised of 112 residences and will feature stunning views of the McDowell … [More]
Sunlit’s Planned Manufacturing Facility Brings $100 Million Investment to Phoenix
Sunlit Chemical, a leading semiconductor chemical supplier based in Taiwan, recently broke ground on its first U.S. manufacturing facility in Phoenix. Sunlit’s presence advances Arizona’ reputation as a national semiconductor leader and advances the state’s unrivaled semiconductor industry supply chain. “As an advanced manufacturer providing high-wage jobs to the region, … [More]
Industrial Development Near Mesa Gateway Airport
SVN Desert Commercial Advisors completed the sale of an approximately 112-acre industrial site in Mesa at the southwest corner of Warner Rd. and Sossaman Rd. just north of the Mesa Gateway Airport. Contour Real Estate plans to build a master-planned industrial park encompassing eight buildings totaling more than 1.5 million square feet (in two phases of development) targeting … [More]
Diversified Partners to Redevelop Queen Creek Golf Course to Housing
Diversified Partners plans to redevelop the Links at Queen Creek golf course into multifamily and single-family housing, with construction expected to start this year. Total redevelopment upon completion will exceed $750 million. The back 48 acres have been sold to Tri Pointe (Maracay Homes), where 172 single-family homes will be built, together with a gated entrance. The … [More]
Sterling Real Estate to Convert Scottsdale Hotel to Apartments
Scottsdale-based investment firm Sterling Real Estate Partners recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market-rate apartments. Originally built in 1996, the 114-room extended-stay hotel will be transformed into a luxury, 85-unit apartment community. The property is centrally located in one of Scottsdale’s most … [More]
Caliber’s Opportunity Zone Fund Portfolio to Redevelop Downtown Mesa, Breaks Ground
Caliber, a vertically-integrated alternative asset manager and fund sponsor, broke ground yesterday for The Commons of Mesa, a 144-unit apartment community located in downtown Mesa will be held on February 23, 2022, at 10 am. The Commons of Mesa will contain 48 one-bedroom units and 96 two-bedroom units. It will be comprised of twelve buildings each with 12 units surrounding a … [More]
Commercial Mixed-Use Destination in the Heart of Gilbert Gets Approval
Creation, an alternative investment and real estate development firm, announced its joint venture on Heritage Park, a commercial mixed-use destination in the heart of Gilbert, Ariz. with Crescent Communities, a nationally-recognized, market-leading real estate investor, developer, and operator of mixed-use communities, and real estate investment firm, FCP®. Located in the … [More]
Phoenix’s Paradise Mall Redevelopment Moves Forward
RED Development has unveiled the newest details for its ongoing redevelopment of the 100-acre Paradise Valley Mall site in Phoenix. The project has been renamed as PV with the announcement that phase one of the redevelopment is scheduled to open by mid-2024. Phase one of PV will feature a 400-unit apartment community developed by StreetLights Residential, a Whole Foods … [More]
Co-Development Negotiations Underway for 5-Acre Hayden Flour Mill Redevelopment
Phoenix-based adaptive reuse experts Venue Projects and Scottsdale-based legacy developer Sunbelt Holdings have been selected by the City of Tempe to co-lead the redevelopment plans for the 5-acre Hayden Flour Mill, one of Tempe’s most revered landmarks and an integral part of Tempe’s history. Located at the southeast corner of Mill Avenue and Rio Salado Parkway in Tempe, … [More]
Safehold Closes Third Ground Lease in Phoenix Area for $54 Million
Safehold Inc., the creator and leader of the modern ground lease industry, announced the closing of its third ground lease in the Phoenix MSA for $54 million. The Safehold™ ground lease facilitates the acquisition of Rise on Apache, a Class A student housing property near Arizona State University in Downtown Tempe. The transaction closed in December 2021 and marks Safehold's … [More]
Plaza Companies’ Property Management, Construction and Development Divisions Continue Momentum in 2021
Plaza Companies’ Property Management and Construction divisions were active in projects across the Valley in 2021, further expanding the company’s portfolio. Plaza Companies has expanded its professional growth in commercial office, research and biotechnology and senior living. Plaza specializes in providing real estate investors, owners, physicians and tenants with … [More]
3.4M Square-Foot Infill Industrial Complex in Central Phoenix Begins Construction
Construction is officially underway at CapRock West 202 Logistics, a landmark 3.4-million-square-foot speculative infill industrial development in central Phoenix. During a celebratory ground breaking event, CapRock Partners today announced that grading has commenced the on first phase of the 183-acre project, which is the largest industrial development in Phoenix’s in history … [More]
Tokyo-Based Real Estate Co. Partnership Acquires 150-Unit Multifamily Community in Phoenix
Tokyo-based Nippon Steel Kowa Real Estate Co., Ltd., advised by Metzler Real Estate, has re-entered the U.S. real estate market in a joint venture with Denver-based Continental Realty Assets, Ltd., a subsidiary of Continental Realty Group. The partnership acquired Arrive Fountain Hills, a 150-unit multifamily community in the Fountain Hills submarket of Phoenix, Ariz. The … [More]
Investment Firm to Convert Scottsdale Hotel into Luxury Apartments
Scottsdale-based investment firm, Sterling Real Estate Partners, recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market rate apartments. Originally built in 1996, the 114-room extended stay hotel will be transformed into a luxury, 85-unit apartment community. The property is centrally located in one of Scottsdale’s most … [More]
