Marking its entry into the Phoenix industrial market, Denver-based Comunale Properties has selected Stevens-Leinweber Construction to build Chandler Connection, a 201,000-square-foot, Class A industrial building immediately adjacent to the Chandler Municipal Airport in Chandler, Arizona. Construction is scheduled to begin July 2021, with an anticipated completion during first … [More]
Industrial Development Breaks Ground in Glendale’s Loop 303 Corridor
Developer Scannell Properties has broken ground on its latest speculative industrial project in Glendale, Ariz. Full-service design-build and construction firm Clayco has been tapped to handle construction of the property. Situated on a 50-acre site in Glendale’s Loop 303 Corridor, the distribution and e-commerce warehouse development will comprise 388,000 square … [More]
1.5 MSF Industrial Project Unveiled in Mesa, Near Gateway Airport
A joint venture between LaPour Partners and Scottsdale Investment Management has announced plans to develop a 1.5 million-square-foot industrial project in Mesa, Ariz. The 101-acre parcel is situated within close proximity of the 202 Freeway, near the Phoenix-Mesa Gateway Airport. Located on Sossaman Road, the development is pending approval from the city of … [More]
Sumitomo to Renovate, Rebrand Downtown Phoenix Office High-Rise
Sumitomo Corporation of Americas plans to submit the former Collier Center, an office high-rise in downtown Phoenix, to a sweeping renovation, after which the company will reintroduce the approximately 600,000-square-foot building as 201 E. Washington. Sumitomo will invest $10 million in the capital improvement program, and is working alongside Transwestern Real Estate … [More]
Tennessee-Based Co. Announces First Major Expansion with New Facility in Chandler
Tennessee-based Mechanical Keyboards, LLC, one of the largest providers of mechanical keyboards in the world, recently acquired a 74,000-square-foot flex industrial building in West Chandler’s thriving employment corridor. Approximately 40 employees will work at the facility located at 7300 W. Chandler Boulevard, and will hold roles ranging from logistics, administration, … [More]
Axis Raintree, a New Speculative Office Building, Opens in Scottsdale
The three-story building was designed by RSP Architects and built by Willmeng Construction, and offers 175,112 square feet of Class A office space. Built on a 5-acre site at 8605 E. Raintree Drive, the property is situated roughly 3 miles from Scottsdale Airport and has easy access to the 101 Freeway, with Phoenix located some 22 miles southwest of the asset. Axis … [More]
Modern Industrial Commerce Center at the Glen Harbor Airpark Completed
LGE Design Build, a full-service design-build firm, recently completed construction on the 388,621 square-foot industrial development – Northern 101 Commerce Center. Conveniently located adjacent to the Loop 101 freeway and Northern Pkwy, Northern 101 is situated on two neighboring sites, totaling 30-acres, at 7860 N. 106th Ave. in Glendale. It is easily accessible to the … [More]
Cold Storage Facility Announced in Glendale to Meet Demand
Cold Summit Development has launched its second project and first in the Phoenix metro area, a 357,000-square-foot multi-tenant speculative cold storage facility (“Cold Summit PHX”), expandable to 485,000 square feet. Sitework and construction is anticipated to start immediately with completion by December 2021. The project follows Cold Summit Dallas, launched in December … [More]
Comunale Properties to Develop 1st Phoenix Industrial Project
Comunale Properties has entered the Phoenix industrial market with Chandler Connection, a 201,000-square-foot project in Chandler, Ariz. The company has selected Stevens-Leinweber Construction to handle development, which is slated to begin in July, with completion set for the first quarter of 2022. The facility will be located on Germann Road, adjacent to Chandler Municipal … [More]
Macerich Sells Phoenix Mall Set for Major Redevelopment
Paradise Valley Mall. Rendering courtesy of RED Development Macerich has sold Paradise Valley Mall, a 1.2 million-square-foot shopping center in Phoenix, for $100 million to a joint venture of RED Development and an affiliate. The property recently received rezoning approval from the city and the previous partnership of Macerich and RED were moving forward with … [More]
Multifamily Property Sells for $26 Million in Central Phoenix
Newmark’s Managing Director Chris Canter, Executive Managing Director Brad Goff and Senior Managing Director Brett Polachek represented the seller, Midtown Flats Acquisition Company, LLC, in the transaction. The buyer was West Freeman Properties. “Midtown Flats is a luxurious asset situated in the ideal central Phoenix location with a strong mix, featuring studios, one-, … [More]
Downtown Phoenix Residential and Co-Working Community Opens
Kenect Phoenix, an all-new, hospitality-driven apartment platform and coworking community by Chicago-based Akara Partners, welcomed its first residences today. Just off the busiest stop along the light rail, across from Central Station, Kenect is located at 355 N. Central Ave., near Arizona State University’s downtown campus, Phoenix Children’s Hospital, ASU Law School and ASU … [More]
Investment Firm Acquires Five Building Industrial Real Estate Portfolio in Phoenix
KKR, a leading global investment firm, today announced the acquisition of a five building industrial portfolio (the “Portfolio”) in Phoenix, Arizona totaling approximately 540,000 square feet for a purchase price of $68.0 million. The Portfolio consists of five shallow bay, last mile warehouses located in a highly infill submarkets less than 10 miles from downtown … [More]
Pandemic Sparks Adaptations in Healthcare Design and Construction
As we mark the recent one-year anniversary of the declaration of COVID-19 as a public health emergency, many of us find ourselves reflecting on the past year — grieving for those who lost their lives; missing in-person interaction with family, friends, and colleagues; finding new appreciation for educators and frontline workers; and feeling anxious to return to a “normal” way … [More]
Developer Enters Arizona Market with Large Opportunity Zone Project in Tempe
Milhaus, a national award-winning developer, owner and operator of Class-A multifamily properties, is expanding into Arizona with one of the company’s largest developments to date: Milhaus North Tempe. As this April edition goes to press, groundbreaking is imminent on the $91-million first phase of this planned two-phase development project by Milhaus in partnership with Los … [More]
