Ryan Companies US, Inc. – a national developer, designer, builder, capital markets partner and real estate manager offering full-service commercial real estate solutions – and Arizona Humane Society (AHS) announce today the groundbreaking of the Arizona Humane Society Rob and Melani Walton Papago Park Campus. The new 72,000-square-foot campus and medical complex will be a … [More]
A Housing Issue We Can’t Afford to Ignore
The lack of affordable housing and the mounting resistance to multifamily housing development is creating serious heartburn in the Valley’s business community — among builders and employers alike — who view it as a risk to healthy economic growth. It’s been a thorny issue in Scottsdale for a few years now, and that city is getting a reputation as a tough place to launch new … [More]
Shared Office Space: New Model for Property Owners
A new risk-free shared office space model offers property owners the ability to achieve desired gross square foot rents in four to five months — with no tenant improvements necessary. It’s a management model that is different from co-working. Prior to COVID, commercial property owners were riding a high-occupancy trend that had been growing since the 2008 recession. Amid … [More]
Tempe’s Hayden Station Transformed to Experiential ‘Arbor’
Phoenix-based developer George Oliver has unveiled its redevelopment plans for the landmark Hayden Station mixed-use property in downtown Tempe, Arizona. Renamed as Arbor and planned with an abundance of foliage, the $41-million experiential office project will include an $18-million renovation that will transform the five-building campus into a one-of-a-kind office and retail … [More]
Trend Alert: Single-Family Living in Multifamily Continues to Increase
As multifamily industry trends continue to evolve, developers must stay in the know to understand what consumers are looking for. Today, the industry is seeing an increase in build-to-rent properties, also known as single-units or horizontal units. This option provides residents the traditional multifamily benefits, but also the privacy residential neighborhoods offer. Experts … [More]
Evergreen Devco Breaks Ground on Multifamily in Tolleson
Evergreen Devco, Inc., a leading retail and multifamily development company, recently broke ground for the development of a 258-unit, multifamily community located at 89th Ave. and McDowell Rd. in Tolleson. The 9.48-acre project, located at 8827 W. McDowell Rd., will add a residential component to the larger Plaza 91 mixed-use development, which currently consists of a … [More]
Facebook’s New Data Center Project Opens Employment Ops with Rosendin
Construction on Facebook’s Mesa Data Center has begun in Mesa’s Elliot Road Tech Corridor. The project aims to serve as a model of energy efficiency and will be supported by 100% renewable energy from new solar energy plants, apply for LEED Gold certification, and receive credits for water restoration efforts. Rosendin, the nation’s largest employee-owned electrical contracting … [More]
Camelot Homes Launches Innovative Luxury Brand
Camelot Homes has launched a new introductory luxury brand: G3 by Camelot Homes. Led by 37-year-old, third-generation homebuilder Trent Hancock, the aptly named brand will focus on homes that offer a first step up to luxury. The first project to be built under the G3 name is Paradigm, a 12-lot gated community coming to North 18th Street and East Winchcomb Drive in North Phoenix … [More]
Harvard Investments, Toll Brothers, and Värde Partners Acquire Estrella under Joint-Venture Partnership
Harvard Investments, Toll Brothers, and Värde Partners announced today they formed a joint venture to acquire the remaining undeveloped land in Estrella, a mixed-use master-planned community located in Goodyear, Ariz. The acquisition includes more than 18,000 acres of entitled land. This purchase is one of the largest acquisitions of an active master-planned community in … [More]
Phoenix Tops Western Markets for Industrial Real Estate Transactions
Investment in industrial assets has taken flight this year: More than $36.6 billion in transactions closed year-to-date through August, data from CommercialEdge shows, a 40.7 percent increase from the $26 billion during the same time last year. Pricing has grown nearly as fast, averaging $106.09 per square foot, an increase of 20.6 percent compared to 2020.The Western region, … [More]
New Luxury Rental-Home Firm Launches Valleywide
TerraLane Communities, a premier developer of luxury single-family rental homes, announces its official company launch. TerraLane is bringing high-tech, spacious and maintenance-free living to select Western U.S. markets, beginning with Greater Phoenix. The firm has offices in Scottsdale, Ariz. and Newport Beach, Calif., and is headed by Chief Executive Officer, Steven La … [More]
Loop 303 Corridor Gets Another Industrial Project Totaling 2 Million Square Feet
Dallas-based Crow Holdings Industrial has become the latest developer to propose a large industrial project in Glendale, Ariz., near Loop 303 and Luke Air Force Base with its plan for a speculative development totaling nearly 2 million square feet. Dubbed Crow 303, the project is scheduled to be discussed Oct. 26 by the Glendale City Council, which must approve annexing and … [More]
Seefried, Crow Holdings Debut 2nd Phase of Phoenix Industrial Park
Atlanta-based Seefried Industrial Properties, in partnership with a real estate fund advised by Crow Holdings Capital, has launched construction on 101 at Van Buren, a two-building, 633,321-square-foot distribution center in Avondale, Ariz. Taking shape on a 39-acre parcel at the intersection of 101st Avenue and Van Buren Street within the Southwest Valley submarket, the … [More]
Interview: Riding Phoenix’s Unparalleled Industrial Wave
“Higher and higher” seems to be Phoenix industrial sector’s motto, as the metro’s pipeline grows with each passing month. According to a recent CommercialEdge report, the Valley had nearly 25.6 million square feet of industrial space underway as of August. Phoenix is also the nation’s absolute champion when it comes to planned and under construction industrial developments, as … [More]
The Howard Hughes Corporation and Jerry Colangelo Announce Launch of 37,000-Acre Master-Planned Community in Phoenix’s West Valley
The Howard Hughes Corporation and Jerry Colangelo today announced the launch of Douglas Ranch, a new large-scale master-planned community (MPC) in Phoenix’s West Valley. Encompassing nearly 37,000 acres in the nation’s fastest-growing metro region, Douglas Ranch is anticipated to become one of the leading MPCs in the country, with 100,000 homes, 300,000 residents and 55 million … [More]
Stewart Title Consolidates Phoenix Presence
Stewart Title has signed a long-term, 33,254-square-foot lease at 3131 Camelback, a two-building office property totaling 295,401 square feet in Phoenix. Starting February 1st, the title insurance company will occupy new office space on the first and second floor of the campus’ 200,000-square-foot building, located at 3131 E. Camelback Road. The deal enables Stewart Title … [More]
Abercrombie & Fitch to Open New West Coast Operations Hub
Abercrombie & Fitch Co. has partnered with GXO Logistics Inc. to establish a distribution center in Goodyear, Ariz. To that end, the companies will lease a 715,000-square-foot, Westcore-owned development, according to the Phoenix Business Journal. Slated to become fully operational in late 2021, the facility will serve as the retailer’s new hub for its West Coast … [More]
Industrial Distribution Center Purchased by New York Investment Firm
KKR, a leading global investment firm, today announced that KKR has acquired an approximately 226,000 square-foot, Class A industrial distribution property in the Papago industrial park, located in the highly infill Southwest Valley submarket of Phoenix, Arizona. The property was built in 2000 and is recently renovated and leased on a long-term basis to a leading industrial … [More]
