CRG has acquired a 268-acre site in Mesa, Ariz., and plans to develop as much as 4 million square feet of speculative and build-to-suit industrial space. Dubbed The Cubes at Mesa Gateway, the project will be the largest master-planned, development-ready industrial park ever delivered in Phoenix’s Southeast Valley submarket. Situated between East Pecos Road and East Germann … [More]
$25M Land Purchased in Surprise for Tempe-Based Carvana
Tempe-based Carvana purchase 148 acres in Surprise, Arizona for $25 million. The deal was represented by NAI Horizon Senior Vice President Isy Sonabend and Agent Drew Eisen. The land is at the NEC of Litchfield and Cactus roads in the Cactus Commerce Center. It has been owned by the Nitta family for decades, according to LoopNet. Carvana is a leading e-commerce company … [More]
A Future-Forward Phoenix
As architects and designers, we are constantly recalibrating our approach to urban design with the goal of improving the quality of life and human experience. We believe that the future of our cities should combine socio-economic and ecological considerations that drive regeneration and shape communities where people and natural systems can coexist in balance. In a post-COVID … [More]
Phoenix Apartment Construction Leads Nation
According to RENTCafé by Yardi Matrix, apartment construction remains strong this year with more than 330,000 new rental units expected to be delivered nationwide — comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of new apartments — among them, the Metro Phoenix … [More]
Construction Technology Lowers Concrete’s Carbon Footprint
Sustainability is increasingly a priority for architects, engineers and developers as they urgently seek solutions that reduce embodied carbon in the built environment, which is generated by the manufacturing of building materials and construction. Coreslab Structures, a premier producer of precast/prestressed concrete products, can utilize a carbon dioxide removal … [More]
Developer Enters Phoenix Market with Glendale Industrial Project
Falcon Park 303 Phase I, a speculative industrial product located along the red-hot Loop 303 corridor in Glendale, broke ground last month. This project marks the entry into the Phoenix market of St. Louis, Missouri-based US Capital Development, which has several active projects on the other side of the Mississippi. Falcon Park 303 Phase I sits on 36.75 acres along … [More]
Development Slated on One of Goodyear’s Last Large Industrial Parcels
In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Scottsdale-based Harvard Investments have purchased 585 acres in Metro Phoenix’s West Valley submarket for a major new Class A industrial development called Goodyear AirPark. Situated next to the Phoenix-Goodyear Airport, it is one of the last large … [More]
Chamberlin + Associates Restoring Al Beadle Building for Its HQ
Chamberlin + Associates Real Estate Management has purchased the 21,000-square-foot office building at 500 E. Thomas Road, originally designed by Phoenix modernist master Al Beadle, to serve as its future corporate headquarters as it continues to grow in Arizona and other Southwestern states. Maintaining the original design of Beadle while bringing an open and inviting … [More]
CapRock’s Infill Project Is Phoenix’s Largest Industrial Spec Development
CapRock Partners, a leading industrial investor, developer and asset manager in the Western U.S., has commenced development of CapRock West 202 Logistics, the largest speculative industrial real estate project in the history of the City of Phoenix. CapRock is transforming one of the largest remaining infill land sites in the Southwest Phoenix submarket into a state-of-the-art, … [More]
Lincoln Property Co. Sells Park303 Phase I for Record-Breaking $186 Million
Within one month of completing the project, leading developer LPC Desert West has sold the fully leased, 1.25-million-square-foot Park303 Phase I in Glendale, Arizona, to BentallGreenOak, a leading global real estate investment management advisor and real estate services provider. At $186 million, the transaction represents the highest single-building industrial sale price in … [More]
Trammell Crow Co. Unveils Plans for Mesa Logistics Park
Trammell Crow Co. has acquired 40 acres of land in Mesa, Ariz., to develop a new logistics park. Dubbed Elliot Gateway, the project will feature four single-story buildings totaling 516,601 square feet of Class A industrial space. Construction is slated to begin in November and will be completed by the fourth quarter of 2022. Building A will offer 151,239 square feet, … [More]
Chandler Business Center Sells for $19.1M
Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the investment sale of Chandler Business Center, a ±106,892 square foot, industrial/flex, multi-tenant property on a 10.63-acre site. ScanlanKemperBard purchased the property for $19,100,000 / $178.68 per square foot. Located at 6150 W … [More]
Developer Breaks Ground in Glendale on First Arizona Project
A new industrial developer has arrived in Arizona, and it's one that is going to be popping up more and more across the Phoenix market. US Capital Development, which is based in St. Louis, MO and has several active projects east of the Mississippi, broke ground on its first development in Arizona recently. Falcon Park 303 Phase I will be a 599,468 square foot speculative … [More]
Lincoln Property Sells Asset for Record-Breaking $186M
Within just a month after completion, a Lincoln Property Co.-led partnership has sold Phase I of Park 303 in Glendale, Ariz., for $186 million to BentallGreenOak. The 1.3 million-square-foot facility traded for the highest single-building industrial sale price in the state’s history. The seller initially developed the property as two separate speculative buildings—of 705,531 … [More]
Lincoln Property Joint Venture to Develop 7M Sq. Ft. Industrial Park
Lincoln Property Co. and Harvard Investments have acquired 585 acres in Goodyear, Ariz. The site is one of the last remaining large industrial-zoned land parcels in the area. The partnership plans to develop a Class A industrial park, capable of delivering as much as 7 million square feet of space across 20 buildings. The project is expected to also include a … [More]
Fintech Firm Expands Presence at Renaissance Square
Upgrade, Inc., a San Francisco-based fintech company, is expanding its Arizona operations at Ren Square in Downtown Phoenix. It is the third time Upgrade has added space since it moved into Renaissance Square in 2017. During this latest expansion, the company is leasing two additional floors, totaling 39,144 square feet of space, at the newly-renovated Renaissance Square … [More]
CA Ventures Buys Phoenix MOB for $33M
Chicago-based CA Ventures has entered the Gilbert, Ariz., medical office market with the purchase of Copper Point. The investor paid $33 million for the property in an off-market transaction. West Coast Capital Partners sold the property, which was 96 percent occupied at the time of the sale. A Newmark team of Kathleen Morgan and Trisha Talbot negotiated on behalf of West … [More]
