Construction recently completed on the $78 million, five-level University Gateway Building at Arizona State University (ASU), a 128,000-square-foot building that wraps around the Mill Avenue Parking Structure in Tempe, Ariz. The parking structure, which was completed in late 2023, and the University’s new building are located east of Mill Avenue between 9th and 10th … [More]
Big Surf Site to Become Class A Industrial, Breaks Ground on Construction
Developer Overton Moore Properties, along with its partner, Invesco Real Estate, have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 sq. ft. on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe at 1500 North McClintock Drive. CBRE's John Werstler, Cooper Fratt and Tanner Ferrandi … [More]
Chandler Four-Building Class A Industrial Park Sells for $83M
The $83 million sale of Akimel Gateway in Chandler to EastGroup Properties, Inc. is complete. CBRE National Partners’ Rusty Kennedy and Joe Cesta, along with Cooper Fratt, John Werstler, Tanner Ferrandi and Mike Parker, represented Trammel Crow Company and CBRE IM in the deal. “Akimel Gateway presents a compelling investment opportunity for EastGroup, featuring impeccably … [More]
Hospitality Investment Firm Expands Portfolio with Acquisition of Scottsdale Resort
LionGrove, a leading hospitality investment firm, announces the purchase of ADERO Scottsdale Resort, Autograph Collection, an idyllic resort nestled in the heart of the Sonoran Desert. "The acquisition of ADERO Scottsdale marks an exciting milestone in LionGrove's dedication to building a portfolio of distinctive hospitality properties that create memorable and … [More]
Florida Investment Firm Acquires 262k SF Industrial Portfolio in Phoenix Metro Area
TerraCap Management LLC, a privately held investment firm headquartered in Naples, FL, announced today the acquisition of Valley Vista, a 262k square foot three-property industrial portfolio spread across the Phoenix, AZ metropolitan area. The three single-story buildings are located in the dense submarkets of Chandler, Tempe, and south of the Phoenix Sky Harbor Airport. The … [More]
Partnership Brings Expansion of Old Town Scottsdale Office Presence
Phoenix-based developer George Oliver, in partnership with Ascentris, has announced the $42.25 million acquisition of 7272 E. Indian School Rd., a 165,220-square-foot office building in Old Town Scottsdale, Arizona. The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., expands the companies’ Old Town Scottsdale footprint to over … [More]
Developer Acquires Property Near Sky Harbor, Plans to Redevelop to Class A Industrial
GO Industrial, a Phoenix-based development firm known for its design-centric approach and location-first strategy across the Western United States, has successfully acquired a 9.4-acre infill parcel in the highly sought-after airport market. The acquisition was made in partnership with Clarion Partners. Located at 3050 S 35th Street along University Drive, the parcel sits on … [More]
Glendale New-Build Divisible for Small Businesses
Tempe-based Sun State Builders, a leading design-build general contractor, recently began construction on a ground-up build for WorkBay, a company that provides flexible workspace for small businesses. Located in Glendale at 7915 N. Harbor Blvd., the project is comprised of five buildings totaling 80,082 square feet, each to be divided into separate, smaller spaces that will be … [More]
Affordable Housing Integrates Workforce Development
Phoenix Scholar House, a first-of-its-kind affordable housing community that combines housing with workforce development and is specifically tailored for single parents pursuing higher education, broke ground in November at 2950 North 18th Place in Phoenix. It will feature 56 apartment units, offering residents access to educational resources and career support. This project … [More]
Discount Tire Acquires Desert Ridge Corporate Center in Phoenix
Leading Retailer Has Been Tenant at 12-acre Campus Since 2019
Discount Tire through its affiliated real estate division, Halle Properties, LLC, closed on the purchase of Desert Ridge Corporate Center I and II in Phoenix. Desert Ridge includes 275,208-square-feet of multi-tenant use office space across two four-story office buildings originally constructed in 2005 and 2007. Discount Tire currently occupies an entire floor at Desert Ridge, … [More]
