KKR, a leading global investment firm, today announced the acquisition of a five building industrial portfolio (the “Portfolio”) in Phoenix, Arizona totaling approximately 540,000 square feet for a purchase price of $68.0 million. The Portfolio consists of five shallow bay, last mile warehouses located in a highly infill submarkets less than 10 miles from downtown … [More]
Pandemic Sparks Adaptations in Healthcare Design and Construction
As we mark the recent one-year anniversary of the declaration of COVID-19 as a public health emergency, many of us find ourselves reflecting on the past year — grieving for those who lost their lives; missing in-person interaction with family, friends, and colleagues; finding new appreciation for educators and frontline workers; and feeling anxious to return to a “normal” way … [More]
Developer Enters Arizona Market with Large Opportunity Zone Project in Tempe
Milhaus, a national award-winning developer, owner and operator of Class-A multifamily properties, is expanding into Arizona with one of the company’s largest developments to date: Milhaus North Tempe. As this April edition goes to press, groundbreaking is imminent on the $91-million first phase of this planned two-phase development project by Milhaus in partnership with Los … [More]
The Future of the Post-Pandemic Office
In the ’80s, ’90s and early 2000s, office work was done with large desktop units that needed power and data to the desktop (the 8-by-8-foot cubicle). By the mid-2000s, powerful new technology and information became available with handheld devices, and the idea of working remotely was introduced. While this technology could do almost everything a desktop could do, most of the C … [More]
New Golf Course Graces Toll Brothers’ West Valley Development
Newly opened in Surprise, Sterling Grove Golf and Country Club is the first new golf course in the West Valley in nearly a decade. The Nicklaus-designed championship golf course is the centerpiece of active recreational options that include a putting course, driving range, and tennis and pickleball courts at Toll Brothers’ Sterling Grove community, which will encompass 2,200 … [More]
Phoenix Mid-Century Marvel Offered for Adaptive Reuse
Wrapped on by three arterial streets, a trio of bus routes and two light rail stations, the mid-century First National Bank building is being offered for sale by the City of Phoenix for adaptive reuse and redevelopment. Located on the corner of 1 S. 24th Street, between Washington and Jefferson streets, the iconic mid-century bank building is a crossroad entrance to the … [More]
New Multifamily Project in Phoenix’s Expanding Deer Valley Area
The Related Group, an international developer known for its sophisticated metropolitan “for-sale” condominiums, rental and mixed-use projects, has broken ground on a 388-unit multifamily luxury residential apartment project: Town Deer Valley, at the crossroads of 19th Avenue and Alameda Road in Phoenix. The Town Deer Valley signature property was designed by Gary Todd … [More]
Land Conservation Team Formed to Address Land Use and Resource Challenges
Land Advisors Organization announces the formation of its Land Conservation team, which specializes in facilitating real estate transactions that conserve important land and water resources, with an aim towards balancing the built and natural environments. Conservation advisory services are customized to the unique needs of each client, which range from multi-generational … [More]
Two New Amazon Sortation Centers to Arizona, Enters Southern Arizona Market, Continues West Valley Presence
VanTrust Real Estate announced the start of construction on two new Amazon sortation centers, including their first Southern Arizona project in Tucson, Ariz. Continuing its investment in Arizona with two facilities that support customer fulfillment and delivery operations, the facilities are expected to open later this year and create hundreds of new full- and part-time … [More]
Cushman & Wakefield Brokers $64.5M Sale of Luxury Multifamily Community in Arizona
Cushman & Wakefield announced the firm has brokered the sale of Village at Aspen Place, a 222-unit Class A, mixed-use luxury multifamily community located within a premier lifestyle center in Flagstaff, Arizona. An entity formed by Orange County, California-based NNC Apartment Ventures, LLC acquired the Village at Aspen Place community for $64.5 million. The seller was an … [More]
Healthcare Real Estate Co. Weathers Covid-19 Storm, Adds Industry Expertise to Team
As the founder and president of a woman-owned commercial real estate brokerage firm, Melynn Wakeman bucked the trend of cutting back during the COVID-19 pandemic. Instead, she grew her company in 2020 with the addition of two brokers and a team of IT, marketing, website, legal and accounting consultants. “It’s hard to believe, but the pandemic year was the best (year) of … [More]
Spencer’s TV & Appliance Announces New Corporate Headquarters
Spencer’s TV & Appliance has announced that its new corporate headquarters will be built at the Akimel Gateway project at the southwest corner of the Loop 202 and 40th street. Spencer’s has been a Valley staple for nearly 50 years and the site will provide the company with greater access to the Phoenix metro area. The company plans to officially move into the new space in … [More]
Luxury Multifamily Mid-Rise Apartment Complex Sells in Northeast Phoenix for $117 Million
Institutional Property Advisors, a division of Marcus & Millichap, announced today the sale of Montreux, a 335-unit luxury mid-rise apartment asset in the Desert Ridge master-planned community of Phoenix, Arizona. The property sold for $117 million, which represents $349,254 per unit. “The Phoenix MSA continues to be among the fastest-growing metropolitan areas in the … [More]
Phoenix Puts Gateway Area Mid-Century Bank Building on the Market
Wrapped on by three arterial streets, a trio of bus routes and two light rail stations, the mid-century First National Bank building is being offered for sale by the city of Phoenix for adaptive reuse and redevelopment. Located on the corner of 1 S. 24th Street, between Washington and Jefferson streets, the iconic mid-century bank building is a crossroad entrance to the … [More]
NYC Investor Buys 139 Acres for Major Phoenix Mixed-Use
New York City-based Keystone Equities LLC has acquired some 139 acres in Goodyear, Ariz., for the development of Innovation Centre. The 224-acre master-planned project was designed to encompass light-industrial and office space, as well as areas for other commercial, retail and entertainment uses. Public records show Roles Inn of America sold the land for $16.5 million. … [More]
Consignment Boutique Expands Valley Presence with Phoenix Pop-Up & Debuts Brand-New Concept
To Be Continued, a leading luxury consignment boutique headquartered in Scottsdale, announced today it will open a full-scale, pop-up shop as well as a brand-new retail concept geared toward Gen Z later this month at The Shops at Town & Country in Phoenix. To Be Continued – The Pop-Up will comprise 2,625-square-feet and will share the same lavish feel as its other … [More]
Developer Breaks Ground on Second Multi-family Housing Project in Deer Valley Area
The Related Group, an international developer known for its sophisticated metropolitan ‘for-sale’ condominiums, rental, and mixed-use projects, announced the groundbreaking of their second multi-family project in Arizona called Town Deer Valley at the crossroads of 19th Avenue and Alameda Road in Phoenix. Located at 24032 North 19th Ave., the new 388-unit multi-family luxury … [More]
