“Attainable” housing is the most in-demand housing type, yet it rarely grabs headlines — or gets built. According to the commercial real estate research firms Yardi Matrix and CoStar, more than 90% of the rental units being built in the Phoenix area are financially feasible for only the roughly top 20% income bracket, while about 5% of rental units being built are … [More]
Mesa Data Center to Use Waterless Cooling Technology
Haydon, a leading full-service general contractor with over 30 years of experience in the Southwest, officially broke ground on a highly advanced data center for Edged Energy, a fast-growing sustainable infrastructure provider. Due for completion by November 2026, the 210,000-square foot facility will use the ThermalWorks ultra-efficient waterless cooling technology system to … [More]
If You Build It: Private Industrial Developers Boost Phoenix Infrastructure
Behind the Phoenix area’s industrial boom in recent years is a web of infrastructure supporting it — some of it visible, some not, but all crucial to the region’s future. These private infrastructure improvements, though requiring significant financial investments, empower developers to attract high-profile, sophisticated tenants from diverse industries. This, in turn, will … [More]
Extensive Infrastructure Supports The Cubes at Mesa Gateway
The Cubes at Mesa Gateway, a 256-acre industrial park developed by CRG, includes 1.7 million square feet of industrial facilities built to date, with 63 acres left to build. CRG acquired the property in 2021 with plans for the largest master-planned, development-ready industrial park ever delivered in Phoenix’s Southeast Valley submarket. To date, CRG has made $27 million in … [More]
Dallas Development and Investment Firm Set to Break Ground on Glendale Industrial Site
Provident Industrial, a division of Dallas-based Provident, is set to break ground on a fully entitled industrial site located at 6550 W. Orangewood Avenue, Glendale, Arizona. The development, known as Orangewood Commerce Center, is located just 10 miles northwest of downtown Phoenix, with convenient access to U.S. 60 (0.5 miles) and the Loop 101 Freeway (4 miles). The … [More]
Homegrown Arizona Apparel Co. Triples Tempe Corporate Headquarters
The Phoenix office of JLL announced it has completed a 96,407-square-foot lease for Branded Bills, a rapidly expanding, homegrown Arizona company offering a range of hat and apparel products featuring a trademark, hand-forged leather patch. Located at 360 S. Smith Rd. in Tempe, Arizona, the lease relocates and triples the size of the Branded Bills headquarters, consolidating … [More]
National New Home Builder Joins Roster for Master-Planned Community’s First Village
Howard Hughes Holdings Inc. announced the addition of New Home Co. to the roster of homebuilders at Teravalis™, the company’s new community located in the Phoenix West Valley. New Home Co. joins Brightland Homes, Century Communities, Courtland Communities, KB Home and Lennar as homebuilders for Floreo, the first village of Teravalis. Floreo is under development, slated for a … [More]
Reimagined Paradise Valley Mall Sets Opening Date of First Residential Property
AVE, the residential real estate brand of Korman Communities, in partnership with RXR, announces the opening date of AVE Paradise Valley (12400 North Tatum Boulevard), a new elevated apartment community located in the reimagined Paradise Valley Mall development. The property will open on Nov. 15, 2024, and is now accepting applications. The state-of-the-art, mid-rise building … [More]
Iconic Mall Set for Demolition, Redevelopment Begins Soon
Phoenix’s most iconic mall is on its way to becoming the largest mall redevelopment project in Arizona’s history. Concord Wilshire Capital and TLG Investment Partners, the Developer, announced that the Abatement and Demolition of the Metrocenter Mall, including the Dillard’s and U-Haul Buildings (formerly Macy’s), have commenced, and it has formed a partnership with Diversified … [More]
Home Builder Breaks Ground on 90 Homesites for a New ‘High Performance’ Mesa Community
Landsea Homes Corporation, a publicly traded residential home builder, announced that it has begun development on 90 homes for a new community called Rialta in Mesa, Arizona. “The groundbreaking of Rialta extends Landsea Homes’ presence in a highly sought after location within the City of Mesa,” said Todd Condon, Arizona Division Vice President of Sales and Marketing, … [More]
CRE Firm Closes on Key Industrial Property in Burgeoning Phoenix Submarket
Stos Partners, a leading commercial real estate investment and management firm specializing in the value-add space, announces its closing of 236 and 240 North 48th Avenue in Phoenix. The 5.3-acre property includes two freestanding industrial warehouse buildings totaling 94,836 square feet. The transaction marks Stos Partners’ seventh industrial acquisition in Phoenix as the … [More]
JLL Promotes New Head of Phoenix Tenant Rep Division
The Phoenix office of JLL today announced it has promoted Ryan Bartos to market lead of its Tenant Rep Advisory Group. In his new role, Bartos is responsible for overseeing all brokerage activity for the company’s Phoenix tenant representation office team. “Ryan has been a key member of the JLL team since joining our firm more than seven years ago,” said JLL Executive … [More]
Pacific Hospitality Group Announces Groundbreaking of New Hotel in Downtown Phoenix
Pacific Hospitality Group, in partnership with Berger Holdings and JWG Investments, an affiliate of Sunbelt Holdings, proudly announces the groundbreaking of its newest independent lifestyle hotel under the Meritage Collection. The project broke ground on September 3, 2024, at the corner of Central and Adams in downtown Phoenix, with the new four-star, four-diamond property … [More]
Desirable Amenities and Attainable Rents Come to New Community Concept at 16th Street and Polk
Greenlight Communities, the Valley developer building brand-new budget-conscious communities, is excited to announce the opening of their new Streamliner community at 16th Street and Polk Road in Phoenix. The second Streamliner to begin leasing, Streamliner 16th represents a new wave of attainable housing communities under the Streamliner brand developed by Greenlight … [More]
$187.5 Million Multifamily Property Closes in Phoenix, Largest in Years
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Desert Club, a 497-unit multifamily asset in Phoenix, Arizona. The property sold for $187.5 million, or $377,264 per unit. The transaction is the largest single asset multifamily sale in Arizona in over two years and one of the ten largest single asset multifamily sales in the … [More]
New 414-Home 55+ Boutique Community Comes to Peoria
Trilogy by Shea Homes, which celebrates its 25th anniversary this year, has broken ground at Ridgecrest - a Trilogy Boutique Communit, a new 55+ resort-style community coming to Peoria, Arizona, in 2025. Located in the award-winning master plan of Northpointe at Vistancia, Ridgecrest is Arizona’s first Trilogy Boutique Community, a new offering from Shea Homes designed to … [More]
Offerpad’s New Headquarters Begins Fifth Floor Improvements at Iconic Building in Tempe
Wespac Construction, Inc. announced the start of construction on a first-generation tenant improvement for Offerpad Solutions Inc., located on the fifth floor of “The Beam on Farmer” office building in Tempe. The Beam on Farmer, 433 S. Farmer Ave., Tempe, known for its distinctive mass timber construction, will have its architectural beauty preserved and showcased as Wespac … [More]
Developer Names Residential Buildings at Central Station in Downtown Phoenix
GMH Communities (GMH), the Philadelphia-based real estate company, officially named the innovative residential properties at Central Station, marking a significant milestone in the innovative mixed-use development. Located in downtown Phoenix, this luxury residential community is comprised of two high-rise buildings overlooking an exclusive amenity deck. The east … [More]
