Village at Prasada, the 700,000-square-foot retail power center developed by SimonCRE for residents of Surprise, Arizona, has proven to be a massive undertaking that has continued to move forward in the face of mounting supply-chain and labor issues. This will be the West Coast’s first power center constructed in more than a decade; currently, residents need to travel an … [More]
Mohr Capital Develops Industrial Project in Surprise
Mohr Capital, a Dallas-based privately held real estate investment firm, acquired 46.26 acres in one of Arizona’s fastest-growing cities to develop a Class A industrial business park in the West Valley. Breaking ground this month and slated for completion next summer, Summit Business Park will offer a combined space of 704,472 square feet of leasable industrial space with … [More]
New North Scottsdale Luxury Community from Camelot Homes
Camelot Homes continues to expand its presence in North Scottsdale with the recent purchase of 77.5 acres, located east of the northeast corner of Lone Mountain Parkway and East Joy Ranch Road in Scottsdale. The family-owned luxury homebuilder plans to break ground on the new 52-home community called Joy Ranch in Q2 2023. Camelot plans to offer floor plans ranging from 4,500 … [More]
IndiCap Bringing 110-Acre Industrial Park to Glendale
Boutique commercial real estate company IndiCap continues its formidable Metro Phoenix industrial development push with Virgin Industrial Park, which it will develop in partnership with Invesco. Located on the northwest corner of Olive and Reems roads in Glendale, Arizona, within the nationally recognized Loop 303 industrial corridor, the two-phase, 110-acre Class A development … [More]
Homebuilder Debuts New Homes in Highly Desirable Glendale
KB Home announced the grand opening of its model homes at The Traditions at Marbella Ranch, a new-home community in highly desirable Glendale, Arizona. The new neighborhood is situated on West Vista Avenue just north of West Glendale Avenue, and is convenient to Interstate 10, U.S. Highway 60 and Loop 101, providing easy access to downtown Phoenix, the area’s major employment … [More]
Affordable Housing Leader Celebrates 50th Anniversary, Mountain West Headquarters in Arizona
Dominium, one of the nation’s leading owners, developers and managers of affordable housing, is celebrating its 50th anniversary with the opening of its Mountain West headquarters in Scottsdale. As Arizona’s housing crisis looms, Dominium and its partners are investing $1 billion in the state to develop affordable housing for essential workers and Arizona’s seniors. Dominium … [More]
Next Major Metro Phoenix Development Is Virgin Industrial Park
Boutique commercial real estate company IndiCap continues its formidable metro Phoenix industrial development push with the announcement of Virgin Industrial Park, which it will develop in partnership with Invesco. At build-out, the two-phase, 110-acre Class A development will total more than 1.5 million square feet in five buildings. It will also bring IndiCap’s local … [More]
Utah Construction Co. Opens Heavy Industrial Office in Tempe
Big-D Companies headquartered in Salt Lake City, Utah launches an industrial division in the Grand Canyon State. Already 14 offices in eight states, Big-D Industrial is the 15th office for the company and the second one in Tempe, Arizona. The new industrial office will focus heavily on building for the mining industry where opportunity is soaring. “As the transition to … [More]
Kierland ‘Mid-Rise-Spa-Centric’ Residences Begin Leasing
LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, announced the start of leasing at Residences Kierland, a mid-rise spa-centric community in Scottsdale's burgeoning Kierland neighborhood. The 290-home community includes a mix of apartment homes, penthouses and townhomes, and features a relaxing luxury … [More]
Corporate Interior Systems Acquires digg by The Berg Group
The Berg Group, a based in the upper Midwest and Phoenix, has acquired digg (Design-Integrate-Go-Grow), the interior construction division of Corporate Interior Systems (CIS). "CIS is excited to announce this acquisition with a strategic alliance to transition future DIRTT opportunities and projects to The Berg Group from digg," stated Lisa Johnson, President … [More]
Investment Group Acquires 29-Unit Apartment in Central Phoenix
Rise Invest acquired the apartment community known as Lofts on 3rd located at 1401 N 3rd Street in Phoenix, AZ. Lofts on 3rd was recently renovated in 2019 and consists of 14 1x1 units, 14 2x2, units (twelve of which are loft style), and one penthouse unit. The property is located just north of I-10, near the heart of downtown Phoenix and is just a 5-10 minute walk from … [More]
Asset Management Co. Acquires New Nine-Building, State-of-the-Art Industrial Project for $208M
The Landing 3, 4 and 5, a brand new Class A industrial development totaling 858,901 square feet on over 64 acres along E Ray Rd in Mesa, Arizona. sells for $208 million. One of the largest Class A industrial parks in metro Phoenix, the nine-building, state-of-the-art asset sold in three transactions during the first half of 2022 to a single-buyer for a combined $208 … [More]
Land Advisors Forms Partnership, Adding New Technology Platform for Land Developers
Arizona-based Land Advisors Organization announces its investment and new partnership with Cecilian Partners, a Pennsylvania-based real estate property technology company. The customer-focused real estate platform, which streamlines the cumbersome operational aspects of community development, integrates community and buyer data, and simplifies the new home buying … [More]
One of the Largest VA Outpatient Clinics in the U.S. Finishes Construction
Hoefer Welker, a Kansas City-based architecture firm, and U.S. Federal Properties (USFP), a Kansas City-based developer, recently finished construction on an outpatient clinic for the U.S. Department of Veterans Affairs (VA) located in Phoenix, Arizona. The Phoenix 32nd Street VA Clinic, which spans roughly 275,000 square feet across 15 acres, will see half a million patient … [More]
Phoenix Office Pipeline Picks Up the Pace
Nearly 1.8 million square feet of office space was underway in Phoenix as of May, representing 1.3 percent of stock, according to CommercialEdge data. The office pipeline exceeded the one recorded a year ago, when total space reached a little over 1.5 million square feet. The national office pipeline, amounting to more than 151 million square feet as of May, represented 2.2 … [More]
Single-Family Build-to-Rent Properties Expanding in a Number of Markets
Northmarq, a capital markets leader, released its Single-Family Build-to-Rent Properties report. The special report highlights how the market continues to gain momentum, with the pace of deliveries and construction starts accelerating, and operating performance at existing properties strengthening. More capital is flowing into single-family build-to-rent properties. During … [More]
Foreclosures Up Nationally, Lake Havasu Bucks Trend
ATTOM, a leading curator of real estate data nationwide for land and property data, has released its Midyear 2022 U.S. Foreclosure Market Report, which shows there were a total of 164,581 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2022. That figure is up 153 percent from the same time period … [More]
