On behalf of Metro Commercial Properties, leading national design-build contractor Graycor Construction Company has delivered the final industrial buildings at Metro East Valley Commerce Center in Mesa, Arizona. Designated as Phases III and IV, the delivery totals five buildings and marks the completion of the 11-building, 1.1 million-square-foot Class A industrial project – … [More]
Los Angeles Real Estate Firm Acquires 155-Unit Multifamily Property in Metro Phoenix
Odyssey Properties Group, a multifamily investment sponsor and private equity real estate firm based in Los Angeles, has acquired Nola on 50th, a 155-unit multifamily community located in the Arcadia submarket of Phoenix, Arizona, for $37.25 million. Nola on 50th, which Odyssey will be rebranding as Parq on 50th, is the firms third acquisition in Arizona since entering the … [More]
Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone
EJF Capital LLC and Toll Brothers Inc., through its Toll Brothers Apartment Living division, announced the formation of a joint venture to develop Henri, a 313-unit multifamily community in downtown Phoenix, AZ. The 2.32-acre site is in a “Qualified Opportunity Zone” under the Tax Cuts and Jobs Act of 2017 (“TCJA”), which offers investors potential tax benefits to invest into … [More]
Desirable 10-Acre Class A Industrial Building Sells in Mesa
Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of an industrial project in the Southeast Valley in Mesa, Arizona. The 111,415 SF project is situated on 10.6-acres strategically located in Mesa’s desirable Southeast Valley at Gateway at 8607 E Pecos Road. Constructed in … [More]
Working to Ensure Building Sustainability
“Among its many innovations, CHASSE Building Team has adopted Lean Construction Methods and developed a customized CHASSE Lean approach. CHASSE Lean is a collaborative process to achieve maximum value on all of our projects while minimizing project waste such as cost, material, time and effort,” says Barry Chasse, founder of CHASSE Building Team. CHASSE’s Lean construction … [More]
Best-In-Class Industrial Project Underway in West Valley
Leading design-build construction firm LGE Design Build, alongside developer Echo Real Estate Capital, has begun construction on Echo Park 303, a two-building, modern industrial facility in Glendale near the intersection of Northern Parkway and Reems Road. With an expected completion of Q3 2023, the 676,176-square-foot best-in-class industrial product will sit on nearly 40 … [More]
Small to Mid-Bay Multi-Tenant Industrial Added in East and West Valley
Nicola Wealth Real Estate has partnered with Hopewell Development (Hopewell) to acquire a 17.79-acre industrial development site in the north Mesa submarket adjacent to Falcon Field Airport and a total of 14.20 acres in Peoria off the 101 Corridor. The two projects total 32 acres with the ability to develop up to 486,200 square feet spread over six buildings. The North Mesa … [More]
New 45,000 SF Medical Office Building Takes Shape at Mercy Medical Commons
The first frame panels for the third Mercy Gilbert Medical Office Building have been lifted into place, keeping the project on schedule for its planned March 2023 completion. At the time of tilt, this facility has been fully leased and programmed with Dignity Health's East Valley's graduate medical education program and supporting medical imaging services via Arizona … [More]
Gilbert Church Sells 16-Acre Property to Christian K-8 School
Sun Valley Community Church in Gilbert, AZ, has agreed to sell its 16-acre property at 6106 S. River Dr. in Tempe to Valley Christian Schools (VCS) of Chandler, AZ. Sun Valley Community Church has been partnering with the VCS Elementary campus adjacent to its church since 2019, sharing its parking area and worship buildings with the expanding school. Valley … [More]
California Investments Firm Acquires 270 Acres of Land ‘Positioned for Manufacturing Use’ in Mesa
Shopoff Realty Investments announced the acquisition of 269.6 acres of land located at E. Elliott and S. Sossaman Road in an unincorporated part of Maricopa County, adjacent to Mesa, AZ. "This property is located in a burgeoning employment hub with increasing demand for manufacturing space," explained Shopoff President and CEO William Shopoff. "We plan to work closely with … [More]
New York-Based Real Estate Firm Secures its First Property in the Valley
Dreamscape Companies, a New York-based real estate and investment firm, announces its first foray into Arizona’s red-hot Phoenix market with the acquisition of the Residence Inn Phoenix Desert View at Mayo Clinic, an extended-stay hotel. With the Mayo Clinic preparing to undergo a massive renovation of at least $700 million that will drastically expand its patient capacity, the … [More]
International Real Estate Investment Firm Acquires Multifamily Property, Plans Major Renovations
Affiliates of Harbor Group International, a privately owned international real estate investment and management firm, announced the acquisition of the Colter Park Apartments, a 384-unit multifamily property located in Phoenix, Ariz., for $80.75 million. Steven Vegh of Westwood Realty Associates brokered the off market transaction. Northmarq arranged a Freddie Mac senior loan on … [More]
San Francisco Investment Firm Acquires First Arizona Property with Purchase in Scottsdale Airpark
San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has acquired Cimmaron Industrial Park in the Scottsdale Airport Industrial submarket of the Phoenix metro area. The deal closed on August 26, 2022, for a purchase price of $27.5 million. The property is currently fully leased. GSR is purchasing the property … [More]
Global Investment Firm Acquires Newly Constructed Industrial Park for $90M
KKR, a leading global investment firm, announced that KKR has acquired 101 at Van Buren, a newly constructed industrial park consisting of two Class A buildings located in Phoenix’s Southwest Valley industrial submarket, from a real estate fund advised by Crow Holdings Capital and Seefried Industrial Properties for a purchase price of approximately $90 million. The acquisition … [More]
San Diego Real Estate Investor Expands Arizona Portfolio with $107 Million Multifamily Deal
MG Properties, a private San Diego-based real estate investor, owner, and operator has purchased 2150 Arizona Ave South Apartments l for $107 million. Rebranded as 2150 Apartments, this Chandler submarket of Phoenix boasts some of the most robust multifamily fundamentals in the metro due to its proximity to multiple job corridors, one of Arizona's top school systems, … [More]
More Office/Warehouse in Chandler
Phoenix-based DPMG Galveston, LLC has started construction on its Chandler Corporate Industrial Center II project in Chandler, situated at the southwest corner of McClintock Drive and Galveston Street in Chandler. The building will contain 86,286 square feet of office/warehouse space available to a single tenant or divisible to suites ranging from 3,371 to 8,042 square feet, … [More]
