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]
New Housing and Community Hub Planned for North Tempe
Investment aims to expand affordable housing to meet community needs
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]
