In my line of work with real estate and land-use entitlements, it’s not uncommon to engage with upset neighbors opposed to development. Whether it’s called NIMBY-ism (Not In My Backyard) or CAVErs (Citizens Against Virtually Everything), changing the status quo can certainly elicit strong emotions and intense anti-development sentiment. In days past, those opposing a zoning … [More]
Study: Phoenix Could Generate $4.56B by Leasing Sky Harbor International Airport
Phoenix could generate $4.56 billion by leasing Phoenix Sky Harbor International Airport, giving the city money to fund other needed infrastructure projects or pay down debt, according to a new Reason Foundation study of U.S. airports. Based on data from previous airport sales and long-term leases around the world, the Reason Foundation report found the airport could be worth … [More]
AC Hotel Downtown Phoenix Acquired by Chicago Group
Chicago-based hotel investment and management company, Arbor Lodging Partners, is proud to announce today its latest acquisition and first expansion into the Phoenix market, with AC Hotel Phoenix Downtown. Located in the lively, bustling downtown that has been experiencing rapid growth and development in recent years, the AC Hotel Phoenix Downtown boasts 199 luxurious rooms and … [More]
Newly Constructed 450,000-Square-Foot Industrial Building Adjacent to Goodyear Airport Sells
CIM Group announced today that it has acquired 2250 S. Litchfield Rd., a newly constructed 450,619-square-foot industrial building adjacent to the Phoenix Goodyear Airport in Goodyear, Arizona. The state-of-the-art crossdock industrial facility features 36-foot clear heights,190-foot truck courts, and ample auto and trailer parking on a 29.2-acre site. The property is the … [More]
Corporate Office to Get MOB Makeover in Phoenix
In a $37 million deal, Cypress Office Properties and Harbert Management Corp. have acquired The Arc, a 180,110-square-foot two-building office campus in Mesa, Ariz., from Buchanan Street Partners. Cushman & Wakefield handled the transaction on behalf of both parties. The Arc I and II were 87 percent leased at the time of the transaction. Nearly 70 percent of the space … [More]
New State-of-the-Art Healthcare Facility Breaks Ground in Surprise
JE Dunn Construction and Anchor Health Properties, a national, full-service healthcare real estate developer, announce breaking ground on HonorHealth Prasada, a new state-of-the-art healthcare facility in Surprise, AZ. The new facility will offer a hybrid provider-based emergency room and urgent care model. Created in partnership with Intuitive Health, the pioneer of the … [More]
Investment Firm to Sell Industrial Real Estate Portfolio for $2.2 Billion, Phoenix Highlighted
KKR, a leading global investment firm, today announced that KKR has agreed to sell a 14.5 million square foot infill and light industrial portfolio to Oxford Properties (‘Oxford’), a leading global real estate investor, asset manager and business builder, for approximately $2.2 billion. The portfolio consists of 149 high-quality distribution buildings strategically located … [More]
Richmond America Homes and Oakwood Homes Purchase 372 Finished Residential Lots for Nearly $27.5M
Land Advisors Organization’s Homebuilding Team is pleased to announce the closing of nearly 80 acres in Cross Creek Ranch to Richmond America Homes and Oakwood Homes for nearly $27.5 million. The sale delivers 372 finished residential home lots and is the second of a two-phase sale to these builders in the Cross Creek Ranch community, located in Coolidge, Arizona. The first … [More]
Cawley Architects Transforms Lives with Phoenix Rescue Mission’s Much-Needed, Inspiring Life Recovery Building
Cawley Architects continues its mastery of designing projects that serve the needs of a community with a collaborative project at the Phoenix Rescue Mission – the Life Recovery Building at the Transforming Lives Center. In collaboration with the Phoenix Rescue Mission and its generous donors and general contractor GCON, Cawley Architects provided design expertise for the $9 … [More]
George Oliver Pockets $57M for Experiential Office Asset
Phoenix-based developer George Oliver Cos. has sold CASA, a 177,522-square-foot, experiential office redevelopment in Phoenix’s Uptown neighborhood. Macquarie Asset Management paid $56.5 million, or $312 per square foot, for the Class A asset, setting a new record for the Piestewa Peak submarket. JLL’s Benjamin Geelan and Brian Ackerman represented the seller. Initially … [More]
Partners Close on Land Purchase for 1.7 Million Square Foot Logistics Development in Glendale, Arizona
Cresset Real Estate Partners and Clarius Partners have closed on the land acquisition for 303 Crossroads, a 1,758,410 square foot logistics development in Glendale, Arizona. The project will consist of two buildings to be built across two phases on land fronting Loop 303 and Northern Parkway in Glendale. Building one will be 1,023,610 square feet and is scheduled to be … [More]
More Than 5,200 Lots Are in the Development Pipeline for Local Homebuilder
Fulton Homes, Arizona's largest family-owned and -operated homebuilder, has continued to press forward with a flurry of parcel buys and development as economic indicators forecast a healthy market. Today, the Tempe-based homebuilder is providing details for plans on more than 5,200 of secured lots the company currently has in different stages of development in the local … [More]
Spec Industrial Project Kicks Off in Greater Phoenix
The joint venture of McKinney Investments LLC, Westport Capital Partners and AEW has started construction on Latitude 303 Logistics, a two-building, 897,315-square-foot speculative development in Glendale, Ariz. Delivery is expected in the first quarter of 2022. Latitude 303 Logistics will come online on 54.8 acres at the southeast corner of the Loop 303 and Glendale Avenue. … [More]
The Rise of B2R Communities
The current forecast for multifamily properties is a roller coaster for anyone trying to pin down information from leading analysts. During this time of uncertainty, we have identified a few trends to expect in the coming years. First, as always, location is key. Some areas of the U.S. will see a decline in housing demand while others will continue to experience large … [More]
Bringing (Good) KARMA to North Central Phoenix
As we step back into a post-pandemic world, I know I am not alone when I say I have emerged after months of work and self-reflection with a new perspective and clear focus on what I want to do and achieve both personally and professionally. In December 2020, I launched Boyer Vertical, a boutique real estate development company that integrates my architecture, … [More]
