JE Dunn Construction and Lincoln Ventures, an Austin-based student housing and national multifamily developer, recently broke ground on 811 N. 3rd Street, a 24-story, 326-unit multifamily development located in the heart of the arts district in Downtown Phoenix. This is Lincoln Ventures’ first multifamily development in Phoenix. The to-be-named project will feature … [More]
New Peoria Self-Storage Facility
Glendale-based land development company Mangat Group has partnered with Aberdeen Management & Development for a locally owned and operated Arizona Self Storage facility on the southwest corner of Loop 101 and Olive Avenue in Peoria. This is Arizona Self Storage’s ninth property in the state and third in the West Valley. Construction began in late October with a year build, … [More]
Industrial Project in Booming Chandler Airport Submarket
Denver-based Comunale Properties and Stevens-Leinweber Construction recently broke ground on Chandler Connection, a 201,000-square-foot, mid-bay Class A industrial project within the booming Chandler Airport industrial submarket in Chandler, Arizona. The project, which is located at 2411 E. Germann Road, between Gilbert and Cooper roads, is Comunale’s first ground-up industrial … [More]
Amazon Facility Sells for $75M
Seefried Industrial Properties and a real estate fund advised by Crow Holdings Capital have sold 500 W. Pinnacle Peak Road, the joint venture partners’ recently completed industrial building totaling approximately 145,500 square feet in Phoenix. With the advisement of Cushman & Wakefield, the partners sold the 100 percent leased, last-mile fulfillment/distribution … [More]
More Luxury Condominiums Tucked into the Canyons of the McDowell Mountains Hit Market
After successful sell-out of the first 24 residences, sales are now underway at ICON at Silverleaf, a high-style, highly amenitized enclave of luxury condominiums tucked into the canyons of the McDowell Mountains. Situated within the gates of Silverleaf at DC Ranch, regarded as one of Arizona’s most exclusive golf club communities, ICON is surrounded by natural desert beauty … [More]
Investment Firm Acquires Land in Avondale for Multifamily Development
Scottsdale-based Sterling Real Estate Partners recently acquired 9.6 acres of land with plans to develop a 238-unit, Class A apartment complex in the heart of Avondale’s rapidly expanding community. The property will feature luxury unit interiors, a resort style pool, state of the art fitness center, furnished outdoor lounge, and more. The land is located in a Qualified … [More]
Ryan Companies Breaks Ground on Arizona Humane Society Campus
Ryan Companies US, Inc. – a national developer, designer, builder, capital markets partner and real estate manager offering full-service commercial real estate solutions – and Arizona Humane Society (AHS) announce today the groundbreaking of the Arizona Humane Society Rob and Melani Walton Papago Park Campus. The new 72,000-square-foot campus and medical complex will be a … [More]
A Housing Issue We Can’t Afford to Ignore
The lack of affordable housing and the mounting resistance to multifamily housing development is creating serious heartburn in the Valley’s business community — among builders and employers alike — who view it as a risk to healthy economic growth. It’s been a thorny issue in Scottsdale for a few years now, and that city is getting a reputation as a tough place to launch new … [More]
Shared Office Space: New Model for Property Owners
A new risk-free shared office space model offers property owners the ability to achieve desired gross square foot rents in four to five months — with no tenant improvements necessary. It’s a management model that is different from co-working. Prior to COVID, commercial property owners were riding a high-occupancy trend that had been growing since the 2008 recession. Amid … [More]
Tempe’s Hayden Station Transformed to Experiential ‘Arbor’
Phoenix-based developer George Oliver has unveiled its redevelopment plans for the landmark Hayden Station mixed-use property in downtown Tempe, Arizona. Renamed as Arbor and planned with an abundance of foliage, the $41-million experiential office project will include an $18-million renovation that will transform the five-building campus into a one-of-a-kind office and retail … [More]
Trend Alert: Single-Family Living in Multifamily Continues to Increase
As multifamily industry trends continue to evolve, developers must stay in the know to understand what consumers are looking for. Today, the industry is seeing an increase in build-to-rent properties, also known as single-units or horizontal units. This option provides residents the traditional multifamily benefits, but also the privacy residential neighborhoods offer. Experts … [More]
Evergreen Devco Breaks Ground on Multifamily in Tolleson
Evergreen Devco, Inc., a leading retail and multifamily development company, recently broke ground for the development of a 258-unit, multifamily community located at 89th Ave. and McDowell Rd. in Tolleson. The 9.48-acre project, located at 8827 W. McDowell Rd., will add a residential component to the larger Plaza 91 mixed-use development, which currently consists of a … [More]
Facebook’s New Data Center Project Opens Employment Ops with Rosendin
Construction on Facebook’s Mesa Data Center has begun in Mesa’s Elliot Road Tech Corridor. The project aims to serve as a model of energy efficiency and will be supported by 100% renewable energy from new solar energy plants, apply for LEED Gold certification, and receive credits for water restoration efforts. Rosendin, the nation’s largest employee-owned electrical contracting … [More]
Camelot Homes Launches Innovative Luxury Brand
Camelot Homes has launched a new introductory luxury brand: G3 by Camelot Homes. Led by 37-year-old, third-generation homebuilder Trent Hancock, the aptly named brand will focus on homes that offer a first step up to luxury. The first project to be built under the G3 name is Paradigm, a 12-lot gated community coming to North 18th Street and East Winchcomb Drive in North Phoenix … [More]
Harvard Investments, Toll Brothers, and Värde Partners Acquire Estrella under Joint-Venture Partnership
Harvard Investments, Toll Brothers, and Värde Partners announced today they formed a joint venture to acquire the remaining undeveloped land in Estrella, a mixed-use master-planned community located in Goodyear, Ariz. The acquisition includes more than 18,000 acres of entitled land. This purchase is one of the largest acquisitions of an active master-planned community in … [More]
Phoenix Tops Western Markets for Industrial Real Estate Transactions
Investment in industrial assets has taken flight this year: More than $36.6 billion in transactions closed year-to-date through August, data from CommercialEdge shows, a 40.7 percent increase from the $26 billion during the same time last year. Pricing has grown nearly as fast, averaging $106.09 per square foot, an increase of 20.6 percent compared to 2020.The Western region, … [More]
New Luxury Rental-Home Firm Launches Valleywide
TerraLane Communities, a premier developer of luxury single-family rental homes, announces its official company launch. TerraLane is bringing high-tech, spacious and maintenance-free living to select Western U.S. markets, beginning with Greater Phoenix. The firm has offices in Scottsdale, Ariz. and Newport Beach, Calif., and is headed by Chief Executive Officer, Steven La … [More]
Loop 303 Corridor Gets Another Industrial Project Totaling 2 Million Square Feet
Dallas-based Crow Holdings Industrial has become the latest developer to propose a large industrial project in Glendale, Ariz., near Loop 303 and Luke Air Force Base with its plan for a speculative development totaling nearly 2 million square feet. Dubbed Crow 303, the project is scheduled to be discussed Oct. 26 by the Glendale City Council, which must approve annexing and … [More]
