Working to Ensure Building Sustainability 

by RaeAnne Marsh

“Among its many innovations, CHASSE Building Team has adopted Lean Construction Methods and developed a customized CHASSE Lean approach. CHASSE Lean is a collaborative process to achieve maximum value on all of our projects while minimizing project waste such as cost, material, time and effort,” says Barry Chasse, founder of CHASSE Building Team.  CHASSE’s Lean construction … [More]

Best-In-Class Industrial Project Underway in West Valley

by Mike Hunter

Leading design-build construction firm LGE Design Build, alongside developer Echo Real Estate Capital, has begun construction on Echo Park 303, a two-building, modern industrial facility in Glendale near the intersection of Northern Parkway and Reems Road. With an expected completion of Q3 2023, the 676,176-square-foot best-in-class industrial product will sit on nearly 40 … [More]

Small to Mid-Bay Multi-Tenant Industrial Added in East and West Valley

by Mike Hunter

Nicola Wealth Real Estate has partnered with Hopewell Development (Hopewell) to acquire a 17.79-acre industrial development site in the north Mesa submarket adjacent to Falcon Field Airport and a total of 14.20 acres in Peoria off the 101 Corridor. The two projects total 32 acres with the ability to develop up to 486,200 square feet spread over six buildings.  The North Mesa … [More]

More Office/Warehouse in Chandler

by Mike Hunter

Phoenix-based DPMG Galveston, LLC has started construction on its Chandler Corporate Industrial Center II project in Chandler, situated at the southwest corner of McClintock Drive and Galveston Street in Chandler. The building will contain 86,286 square feet of office/warehouse space available to a single tenant or divisible to suites ranging from 3,371 to 8,042 square feet, … [More]

Infill Industrial in SW Phoenix 

by Mike Hunter

VanTrust Real Estate, LLC, the NAIOP Arizona 2021 Industrial Owner/Developer of the Year, broke ground on its latest speculative industrial development, VT 202, located on 12.1 acres along 59th Avenue in the high-demand Southwest Phoenix submarket. With completion expected in February, the two buildings of this infill project are designed for flexibility in tenant requirements … [More]

More Rooftops Coming to SE Phoenix

by Mike Hunter

Tri Pointe Homes®, a recognized leader serving the Phoenix market for more than 30 years under the name Maracay®, has broken ground on Sentinel at Oro Ridge, a 52-home neighborhood located within the expansive Oro Ridge planned community in Queen Creek, Arizona.  Available in Spanish, Farmhouse and Desert exterior styles, Sentinel at Oro Ridge homes will range from … [More]

Safety Culture Critical in Onboarding in the Construction Industry 

by Clay Creaser

Establishing a culture supported by best practices within a company is oftentimes difficult and develops slowly over time unless clearly defined and demonstrated within an organization; it is subjective. Company culture is successful when people are leading by example and utilizing their voices, but an issue arises when no one believes they are the example.  For example, … [More]

Single-Family Build-for-Rent Community Underway Near Taiwan Semiconductor Facility

by Mike Hunter

The Empire Group of Companies closed last month on a 40-acre parcel located in North Phoenix near the site of the $12 billion Taiwan Semiconductor Manufacturing Company facility that is projected to open in 2024, where it plans to build a community of 354 single-family build-for-rent homes. Village at Bronco Trail will be situated at 29th Avenue and Sonoran Desert Drive, just … [More]

New Headquarters Welcomes Employees Back with a Bowling Alley

by Mike Hunter

After an all-too-familiar pandemic delay, Phoenix-based property management leader Arcadia Management Group has relocated and expanded its downtown Phoenix headquarters within the same building, where it also serves as property manager — the 3550 N. Central office tower. The new 18,500-square-foot space welcomes employees back with amenities for work and play, including a … [More]

Speed-to-Market Design

by Christina Johnson

We are in a rather unique time for multifamily real estate. The high costs of materials and shipping, as well as supply delays make building from the ground up riskier than it would be under more predictable conditions. Current investment rates, cap rate compression and inflation also are key factors in assessing the risk level for multifamily investors. However, high demand … [More]

Surprise Power Center Development Powers over Challenges 

by Joshua Simon

Village at Prasada, the 700,000-square-foot retail power center developed by SimonCRE for residents of Surprise, Arizona, has proven to be a massive undertaking that has continued to move forward in the face of mounting supply-chain and labor issues. This will be the West Coast’s first power center constructed in more than a decade; currently, residents need to travel an … [More]

Mohr Capital Develops Industrial Project in Surprise

by Mike Hunter

Mohr Capital, a Dallas-based privately held real estate investment firm, acquired 46.26 acres in one of Arizona’s fastest-growing cities to develop a Class A industrial business park in the West Valley. Breaking ground this month and slated for completion next summer, Summit Business Park will offer a combined space of 704,472 square feet of leasable industrial space with … [More]

New North Scottsdale Luxury Community from Camelot Homes

by Mike Hunter

Camelot Homes continues to expand its presence in North Scottsdale with the recent purchase of 77.5 acres, located east of the northeast corner of Lone Mountain Parkway and East Joy Ranch Road in Scottsdale. The family-owned luxury homebuilder plans to break ground on the new 52-home community called Joy Ranch in Q2 2023. Camelot plans to offer floor plans ranging from 4,500 … [More]

IndiCap Bringing 110-Acre Industrial Park to Glendale 

by Mike Hunter

Boutique commercial real estate company IndiCap continues its formidable Metro Phoenix industrial development push with Virgin Industrial Park, which it will develop in partnership with Invesco. Located on the northwest corner of Olive and Reems roads in Glendale, Arizona, within the nationally recognized Loop 303 industrial corridor, the two-phase, 110-acre Class A development … [More]

Sale-Leasebacks Allow Property Owners to Have Cake and Eat It, Too 

by Trisha Talbot

Economists continue to debate whether a recession is coming, but most agree some kind of market correction is on the horizon. As a result, some business owners — especially those who own their buildings — are considering getting out while the getting is good. Having an exit strategy in mind when investing in income-producing commercial real estate is imperative regardless of … [More]

Prop Tech Is Streamlining the Real Estate Investment Process 

by Or Agassi and Tom Sella

High population growth areas like Phoenix are struggling to keep up with the real estate market’s demands because of low inventory. To help close the housing gap in the U.S. and bring properties to the market faster, Stoa’s iBuyer platform, FlipOS, focuses on helping professional real estate investors acquire and flip residential properties at an accelerated rate. There are … [More]

Land Sale Adds to the Expansion and Development of Litchfield Park 

by Mike Hunter

The recent sale of 5.45 acres on the southwest corner of Citrus and Bethany Home roads, which traded for $2,200,000, served as a stepping stone for the area as it not only generated the highest price per square foot for land in the area but also sparked the residential development of 182 acres across the street.  The buyers plan to develop a state of the art self-storage … [More]

Cavasson Continues Growth with Commitment from Meritage Homes

by Mike Hunter

Cavasson, a development at Loop 101 and Hayden Road in Scottsdale, recently added leading U.S. homebuilder Meritage Homes’ corporate headquarters to the strong mix of tenants that so far includes Stealth Partner Group, Sigma Company’s Bar-S Foods and Quantum Group. “This significant commitment from Meritage Homes paves the way for the next phase of office development at … [More]

Phoenix Is the Next Area of Opportunity for Chicago-Based Development Group

by Jonathan McCulloch

The Phoenix metro area is home to some of Chicago’s greatest exports — Chicago Cubs Spring Training, Portillo’s and Lou Malnati’s Pizzeria, to name a few. Soon, Phoenix will also be home to Belgravia Group’s first out-of-Chicago development — Portico. It’s a monumental and exciting move for the 70-plus-year-old luxury development firm — and a natural one. Belgravia Group’s … [More]

Upscale Retail Town Center for Verrado

by Mike Hunter

A major retail center is due to start taking shape mid next year at the Verrado development in Buckeye. DMB Associates, the master developer of the 8,800-acre Verrado master-planned community, is partnering with Vestar, the largest privately-held shopping center owner, developer and manager in the western United States, to create a dynamic retail center. Verrado Marketplace … [More]

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