Phoenix-based Unbound Development set the table for a large-scale industrial development near Phoenix Mesa Gateway Airport and recently completed a transaction with Greystar, who will now finish the process. Unbound sold the 154 acres consisting of 6 different parcels in a double escrow transaction and provides Greystar, which is one of the largest multifamily owners and … [More]
Florida & Arizona Trail California in Number of Expensive Submarkets
PropertyShark just released a new report, which ranks the top 100 U.S. office submarkets by average sale prices listed in 2021. Nine Florida submarkets ranked among the nation’s 100 most expensive last year. Of these, the best positioned was Miami’s central business district, which landed in 28th with an average office sale price of $504 per square foot. Next, downtown West … [More]
World-Class 7-Story AVE Phoenix Terra Apartments Going Up in Downtown Phoenix
Korman Communities, in partnership with RXR, has completed the purchase of its first property in the Phoenix market. The brand new, 348-unit, seven-story, professionally managed, Class A property boasting 60,000 square feet of amenity space, AVE Phoenix Terra, offers a unique flexible-stay living solution in Downtown Phoenix. “We are focused on growing our AVE portfolio of … [More]
Watermark Tempe adds Cession ‘Southern-Style’ Bistro as Newest Lakeside Tenant
Cession, a Bistro-style restaurant serving "Southern-themed" foods, will be joining Watermark Tempe, a premier mixed-use development totaling 1.9 million square feet at the Scottsdale Rd & SWC Loop 202 in Tempe, Arizona. Cession will occupy 8,462 square feet of Watermark’s 265,000-sf office tower located at 410 North Scottsdale Road, abutting the lake’s boardwalk. The … [More]
Lincoln Property Starts 2.5 MSF Phase of Phoenix-Area Project
LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has begun work on the three-building, nearly 2.5 million-square-foot phase two of the company’s Park303 in Glendale, Ariz. The project’s first phase was sold last September to BentallGreenOak for $186 million, which reportedly was the highest single-building industrial sales price in Arizona history. … [More]
GO Industrial Buys Land in East and West Phoenix for 1.28M s.f. of Spec Industrial
Phoenix-based GO Industrial has purchased land parcels on each side of metro Phoenix for the development of more than 1.28 million square feet in two fully speculative, Class A industrial projects: GO | 99 North and GO | AZ Ave. Representing the broad demand for Phoenix industrial space, the projects are located at Buckeye Road and 99th Avenue in Phoenix’s West Valley, and … [More]
Valleywise Health Medical Center Hits Two-Year Construction Milestone
The intersection of Roosevelt and 24th Street is looking quite different recently as Valleywise Health continues progress on the construction of its brand new, state-of-the-art medical center expected to open in late 2023. The public safety net health care system for Maricopa County broke ground on the 673,000 square-foot, 10-story medical center two years ago on February 26 … [More]
Altera Enters Phoenix Market, Buys Big
In a flurry of recent deals, Dallas-based Altera Fund Advisors has acquired Rome Towers, a 130,000-square-foot medical office building in Gilbert, Ariz., in a four-asset, $75 million portfolio transaction. Woodside Health sold the Class A Gilbert property together with two medical facilities in Middleburg Heights, Ohio, and one in San Antonio. The three additional … [More]
Beginning with the End in Mind
Technology is all around us. It’s so integral to our daily lives that we often forget how reliant we are on the electronics that drive our everyday activities. This means everything from the mechanical and electrical systems in the car we drive to the systems that power our garage door opener or refrigerator. Semiconductors, and a huge variety of microchips/processors, are a … [More]
Luxury North Scottsdale Condos from New-to-Arizona Developer
Luxury condominium project Portico – North Scottsdale, a key piece of DMB’s One Scottsdale master-planned development, will kick off Belgravia Group’s entry into the Arizona market. The development at Loop 101 and Scottsdale Road, by the award-winning Chicago-based real estate development firm, will be comprised of 112 residences and will feature stunning views of the McDowell … [More]
Sunlit’s Planned Manufacturing Facility Brings $100 Million Investment to Phoenix
Sunlit Chemical, a leading semiconductor chemical supplier based in Taiwan, recently broke ground on its first U.S. manufacturing facility in Phoenix. Sunlit’s presence advances Arizona’ reputation as a national semiconductor leader and advances the state’s unrivaled semiconductor industry supply chain. “As an advanced manufacturer providing high-wage jobs to the region, … [More]
Industrial Development Near Mesa Gateway Airport
SVN Desert Commercial Advisors completed the sale of an approximately 112-acre industrial site in Mesa at the southwest corner of Warner Rd. and Sossaman Rd. just north of the Mesa Gateway Airport. Contour Real Estate plans to build a master-planned industrial park encompassing eight buildings totaling more than 1.5 million square feet (in two phases of development) targeting … [More]
Diversified Partners to Redevelop Queen Creek Golf Course to Housing
Diversified Partners plans to redevelop the Links at Queen Creek golf course into multifamily and single-family housing, with construction expected to start this year. Total redevelopment upon completion will exceed $750 million. The back 48 acres have been sold to Tri Pointe (Maracay Homes), where 172 single-family homes will be built, together with a gated entrance. The … [More]
Sterling Real Estate to Convert Scottsdale Hotel to Apartments
Scottsdale-based investment firm Sterling Real Estate Partners recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market-rate apartments. Originally built in 1996, the 114-room extended-stay hotel will be transformed into a luxury, 85-unit apartment community. The property is centrally located in one of Scottsdale’s most … [More]
Caliber’s Opportunity Zone Fund Portfolio to Redevelop Downtown Mesa, Breaks Ground
Caliber, a vertically-integrated alternative asset manager and fund sponsor, broke ground yesterday for The Commons of Mesa, a 144-unit apartment community located in downtown Mesa will be held on February 23, 2022, at 10 am. The Commons of Mesa will contain 48 one-bedroom units and 96 two-bedroom units. It will be comprised of twelve buildings each with 12 units surrounding a … [More]
Commercial Mixed-Use Destination in the Heart of Gilbert Gets Approval
Creation, an alternative investment and real estate development firm, announced its joint venture on Heritage Park, a commercial mixed-use destination in the heart of Gilbert, Ariz. with Crescent Communities, a nationally-recognized, market-leading real estate investor, developer, and operator of mixed-use communities, and real estate investment firm, FCP®. Located in the … [More]
