P.B. Bell and Everest Holdings are nearing completion of a new single-family build-to-rent community, Marketside Villas at Verrado, located in Buckeye at 21045 W. McDowell Road. Marketside Villas at Verrado features thoughtfully laid-out standalone and duplex style one, two, and three-bedroom floor plans that feature all the high-end luxuries of modern living, including … [More]
New Housing and Community Hub Planned for North Tempe
Investment aims to expand affordable housing to meet community needs
Tempe plans to transform the newly-purchased Food City Plaza in north Tempe into a dynamic housing and shopping hub that brings together mixed-income housing, a grocery store and a police station to meet wide-ranging community needs. Tempe bought the center as part of its broad Affordable Housing Strategy and Hometown for All initiative, designed to accelerate the growth of … [More]
National Commercial Real Estate Sentiment Rebounds, Says Survey
The NAIOP CRE Sentiment Index, which measures industry expectations for commercial real estate market conditions over the next 12 months, has increased significantly from the last survey conducted in the Spring. The Index climbed to 56, indicating that respondents expect conditions for commercial real estate development to improve over the next year. The NAIOP CRE Sentiment … [More]
131 Acres of Designated Industrial Development Acquired in Buckeye
The First West Valley Site Purchased Since Record $138 Million Data Center Deal
Arizona Land Consulting, the Valley’s leading, female-owned real estate consulting firm, announced today it has closed on a $20 million acquisition in Buckeye, Ariz. Located on west Southern Ave. and south Rooks Road, the 131 acres of land is zoned for industrial purposes. Equipped with a Certificate of Assured Water Supply allows this prime piece of real estate to be … [More]
Construction Co. Begins Shell Construction Project of New K-8 School for Saint Thomas the Apostle in Phoenix
Wespac Construction Inc. is excited to announce the upcoming construction of a new 76,652 SF academic facility, set to enhance the existing campus of Saint Thomas the Apostle, located on 24th Street between Camelback Road and Campbell Avenue in Phoenix. The current facilities, originally built in the 1950s, have aged and are struggling to meet the needs of the expanding … [More]
Scottsdale-Based Master-Planned Community Developer Expands Homebuilding Division
Symmetry Companies, a Scottsdale-based master-planned community developer specializing in luxury residential neighborhoods featuring private golf clubs, today announced the first market expansion of its homebuilding division, Symmetry Homes, with the launch of new semi-custom homes at Talking Rock Ranch in Prescott, along with the opening of a downtown sales … [More]
First Decline in Metro Phoenix Office Vacancy Rates in Five Years
The Phoenix Office of JLL has released its Q3 2024 Phoenix Office Market Dynamics report, noting a continued stabilization in the local office sector with vacancy rates decreasing, the sublease market showing positive trends and rental rates on the rebound. The total metro Phoenix office market vacancy rate decreased by 10 basis points during the third quarter to 25.1%. This … [More]
Chicago Developer Brings Luxury Condominiums to Scottsdale’s ‘New Luxury Corridor’
Belgravia Group, Chicago’s award-winning real estate development firm with more than 75 years of luxury projects constructed under its brand, has announced its second North Scottsdale development, Atavia. The project has received Scottsdale Design Review Board (DRB) approval and follows the rapid and successful sell-out of its first North Scottsdale project, Portico. Atavia … [More]
West Valley Development Teravalis Names Investment Industry Veteran COO for Phoenix Region
Howard Hughes Holdings Inc. announced that Kate Kaminski has joined the company’s team at Teravalis™ as Chief Operating Officer for the Phoenix Region, under the leadership of recently appointed president Charley Freericks. A real estate and investment industry veteran Ms. Kaminski will help lead operations for the new Howard Hughes community in the Phoenix West Valley as … [More]
Estrella Flourishing with Sale of 719 Homesites to Renowned National Homebuilders
Estrella, a large-scale master-planned community in the bustling West Valley, announced a significant milestone in its ongoing development. With the successful sale of 719 homesites within the vibrant villages of Lucero and Montecito, Estrella is flourishing and attracting national homebuilders. The recent sale of 508 homesites in the Montecito village is to national … [More]
CRE Investment Co. Completes Rail-Capable Industrial Project in Surprise
Dallas-based Mohr Capital announced the completion of West Summit at Surprise, a 707,380-square-foot, Class A industrial development in Surprise, Arizona. The project sits on almost 47 acres with sought-after rail access to metro Phoenix’s rapidly expanding BNSF Railroad network. “Many distribution, manufacturing and logistics companies require rail access for their … [More]
Land and CRE Consulting Firm Acquires 600 Acres; Plans Build-for-Rent, Light Industrial, Data Center
Arizona Land Consulting, the Valley’s leading, female-owned real estate consulting firm, announced its purchase of 600 acres in Pinal County. The newly acquired property considered the “Gateway into Casa Grande,” located on the I-10/Florence, marks the first purchase since the firm’s recent record-breaking $136 million closing, a 240% return for its investors in two … [More]
Builder Breaks Ground on Two New Projects, Completes Warehouse Offices in North Phoenix
Sun State Builders, the leading design-build general contractor broke ground on two new industrial office projects – one in Glendale and one in Phoenix. The company also finished construction on a new warehouse office space at the Deer Valley Technology Park in North Phoenix. Construction is now underway in Glendale on a ground-up build for WorkBay, a company that provides … [More]
Construction Set to Begin on New Affordable Rental Community in Tempe
Greenlight Communities, the Scottsdale-based developer dedicated exclusively to building attainable and affordable rental housing without relying on government subsidies, is proud to announce the closing of its first community in South Tempe. Situated at the southwest corner of Guadalupe and Kyrene Roads, at 515 West Guadalupe Road in Tempe, Cabana Kyrene represents a vital … [More]
Hilton Phoenix Resort at The Peak Sells, Plans Set to Elevate Property
It was known as the Pointe when it opened nearly 50 years ago, nestled in Piestewa Peak near 16th Street and Northern. Today this resort, at the crossroads of the Valley, has a new owner and a new future. Phoenix based Pivotal Group has purchased The Hilton Phoenix Resort at the Peak. New York’s Fortress Investment Group was the seller. The $100 million acquisition and … [More]
World’s Leading Guitar Manufacturer Breaks Ground on New Arizona Co-Headquarters at PV
RED Development joined Fender Musical Instruments Corp., the world's leading guitar manufacturer, yesterday for a groundbreaking ceremony to mark the start of construction on its new Arizona co-headquarters in a fully dedicated facility slated to open in 2025 at PV, the more than $2 billion multi-phase, multi-year redevelopment of the former Paradise Valley … [More]
Family Fun Center Signs Lease for Scottsdale Location
Western Retail Advisors has completed a 50,000-square-foot lease that will soon establish the latest metro Phoenix location for the fast-growing family fun park concept. The new Slick City will sit at 9189 Talking Stick Way, within The Pavilions at Talking Stick, a 1.3 million-square-foot power center occupying more than 128 acres along the Loop 101 near Indian Bend Road in … [More]
Industry Veteran Promoted to President and COO of Sundt Construction
Sundt Construction, Inc. has promoted construction industry veteran Cade Rowley to President and Chief Operating Officer. In his new role, Rowley will serve as leader of all operational strategy and execution, overseeing each of the company’s seven business units. Mike Hoover, Sundt’s President and CEO since 2016, will continue to serve as CEO and Chairman of the Board of … [More]
