P.B. Bell, a Scottsdale-based developer specializing in multifamily housing communities in Arizona, and Rockpoint, a Boston-based real estate private equity firm, announced the sale of The Landing at Fiesta Village, an upscale, garden-style multifamily community in Mesa, Arizona. Financial terms of the transaction were not disclosed. Fiesta Village is located in the core of … [More]
Upscale, Garden-Style Multifamily Community Sells in Mesa
Development of upscale multifamily community completed in December 2022
Partnership Brings Scottsdale Two Major Experiential Mixed-Use Retail and Entertainment Projects
Scottsdale is set to welcome its newest and hottest entertainment district as Diversified Partners, the Scottsdale real estate brokerage and development company, and Palmer Development Group, the development firm renowned for transforming landscapes into innovative destinations, join forces. The dynamic duo is poised to transform Scottsdale with two major experiential mixed-use … [More]
80 Acres in Casa Grande Purchased for New Power Switching Yard and Substation
new power switching yard and substation to address growing power needs in Casa Grande’s West Industrial area
A recently purchased 80-acre parcel in Casa Grande will become a new power switching yard and substation, which will extend capacity and services to the Casa Grande West Industrial area. Casa Grande’s industrial sector has seen a significant increase in industrial users and developers in recent years as the manufacturing industry and related suppliers relocate or expand to … [More]
Two Affordable Housing Multifamily Communities Coming Soon to Metro Phoenix
Greenlight Communities, along with Bryten Real Estate Partners, its selected property management company, announced leasing is now underway at their two newest apartment communities. Both communities are located in Metro Phoenix with move-ins set to begin in July and August. Greenlight’s Streamliner communities are focused on providing residents with brand new rental homes … [More]
Real Estate Developer Sells Goodyear Airport Portfolio, Two Fully Leased Industrial Buildings
CIM Group announced the sale of the Goodyear Airport portfolio which is comprised of two, fully leased industrial buildings totaling 726,802 square feet located at 2250 S. Litchfield Road and 1685 S. Litchfield Road, adjacent to the Phoenix Goodyear Airport in Arizona. CIM Group acquired the 450,619-square-foot building at 2250 S. Litchfield Road in August 2021. The building … [More]
Construction Co. Celebrates 50 Years of Building Excellence
For five decades, Agate Construction has remained a cornerstone of excellence in the construction industry. Since its humble beginnings as an agricultural construction company, Agate has grown into a respected leader, maintaining an unrivaled reputation for high-quality construction projects and a devoted commitment to innovation, safety and customer satisfaction. As a … [More]
Developer Completes First Piece of $500M, 88-Acre Peoria Industrial Master Plan
Greystar, a global leader in the investment, development, and management of institutional-quality commercial real estate, joined with officials from the City of Peoria and project partners to celebrate the completion of Caliber by Greystar, a three-building, Class A industrial development in Peoria, Arizona. Caliber marks the first development piece to deliver within … [More]
Hard Rock Music-Themed Hospitality Experience Coming to Scottsdale in 2026
Hard Rock International announced development plans for REVERB by Hard Rock Scottsdale, a music-themed hospitality experience featuring entertainment and outdoor spaces, 195 hotel rooms, an outdoor pool, a rooftop bar and more. The $60 million project in partnership with ERES Capital is expected to open in late spring / early summer 2026, anchoring The Sydney, a mixed-use … [More]
Multifamily Developer Expands Phoenix Presence with Two New Communities
National multifamily developer Wood Partners announced the start of construction on Alta Dove Valley in Phoenix and Alta 87 in Gilbert, Arizona. These new communities bolster Wood Partners' presence in Arizona, bringing its total to 24 starts in the state since the Great Financial Crisis. "Phoenix has, and continues to, experience significant in-migration due to its … [More]
Grand Opening of Luxury Rental Home Community in Phoenix
Sustainable Luxury Phoenix’s Zora Encanto
Suncrest, a leading residential master-developer, is making waves in Phoenix with recent grand opening of their luxury rental home community – Phoenix's Zora Encanto – a first in their planned national portfolio of Zora Living communities, Zora Encanto celebrated their Grand Opening on April 13, and sets a new standard for sustainability and superior living. Located near … [More]
Florida Hotel REIT Announces First Arizona Acquisition, Adds Exposure to Booming Phoenix MSA
Chatham Lodging Trust Acquires Home2 Suites Phoenix Downtown
Chatham Lodging Trust, a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, announced that the company has acquired the recently opened, 148-room Home2 Suites by Hilton Phoenix Downtown for $43.3 million or approximately $293,000 per room. The institutional quality, six-story hotel sits in … [More]
Importance of Placemaking in Conversion Properties
One of the biggest buzz phrases in real estate development currently is office-to-residential conversions, and, with a pipeline growth of more than 350% nationwide since 2020, it’s easy to understand why. Based on a study done earlier this year by RentCafe, these conversions make up 38% of assets being converted into apartment units for 2024, with Phoenix in the top 10 for … [More]
Capitalizing on Greater Phoenix’s Evolution
A general contractor’s perspective
In the dynamic world of construction, few regions embody the ebb and flow of the industry quite like Greater Phoenix. Historically known as a boom-and-bust city, Phoenix has experienced the cyclical dance of housing developments, driven by fluctuating interest rates and economic tides. However, the past decade has seen a transformative shift, turning Greater Phoenix into a … [More]
Move-in-Ready Spaces Planned for Mesa’s Active Industrial Submarket
Martens Development, a Scottsdale-based development firm that is active throughout the Phoenix market, recently broke ground on its latest Class A industrial development in Mesa, Brickyards on Ellsworth. The construction lender for the project is Principal Asset Management. Leading the construction team is general contractor FCL Builders, which is set to deliver an … [More]
Dual-Branded AC Hotel and Element to Open in NW Phoenix
North Texas developer Jackson-Shaw and Tucson-based Holualoa Companies recently broke ground on a new dual-branded AC Hotel by Marriott North Phoenix at Norterra and Element by Westin North Phoenix at Norterra — a 160,133-square-foot building on three acres. It is expected to provide 60 full-time and 20 part-time jobs. The two hotels connected under one roof are located … [More]
Multifamily Investment Co. Secures Approval for New Housing Project in Mesa
Neighborhood Ventures, a leading real estate investment company utilizing crowdfunding to enable both accredited and non-accredited investors to invest in multifamily properties, announced today that the Mesa City Council has unanimously approved their zoning application for the site of the former American Inn on Country Club Road and Southern Avenue. The 6-0 vote paves the way … [More]
Four New Leases in SkySong 2 Building Bring Project to Near Capacity
SkySong, The ASU Scottsdale Innovation Center has experienced a flurry of leasing activity in recent weeks that has brought the project closer to capacity. Four new leases signed recently, all in the project’s SkySong 2 building, total more than 10,400 square feet. The five-year leases range in diverse uses, including GH2 Architects which signed for a 3,563-square-foot … [More]
48-Acre Industrial Park Breaks Ground Near Glendale’s Sports and Entertainment Corridor
VanTrust held a ceremonial groundbreaking event for Phase I of the 48-acre VT 101 industrial park, which will consist of three buildings totaling 750,000 square feet. Elected officials, City staff and the project team gathered to celebrate the occasion. VT 101 is located along Loop 101 at the southwest corner of North Ballpark Boulevard and 99th Avenue, adjacent to … [More]
