Industrial Development Near Mesa Gateway Airport

by Mike Hunter

SVN Desert Commercial Advisors completed the sale of an approximately 112-acre industrial site in Mesa at the southwest corner of Warner Rd. and Sossaman Rd. just north of the Mesa Gateway Airport. Contour Real Estate plans to build a master-planned industrial park encompassing eight buildings totaling more than 1.5 million square feet (in two phases of development) targeting … [More]

Diversified Partners to Redevelop Queen Creek Golf Course to Housing

by Mike Hunter

Diversified Partners plans to redevelop the Links at Queen Creek golf course into multifamily and single-family housing, with construction expected to start this year. Total redevelopment upon completion will exceed $750 million. The back 48 acres have been sold to Tri Pointe (Maracay Homes), where 172 single-family homes will be built, together with a gated entrance. The … [More]

Sterling Real Estate to Convert Scottsdale Hotel to Apartments 

by Mike Hunter

Scottsdale-based investment firm Sterling Real Estate Partners recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market-rate apartments. Originally built in 1996, the 114-room extended-stay hotel will be transformed into a luxury, 85-unit apartment community. The property is centrally located in one of Scottsdale’s most … [More]

2022 Interior Design Trends

by Christina Johnson

It comes as no surprise that COVID-19, quarantines and lockdowns are still at the forefront of our minds. Experiences over the past two years has led society to seek commercial spaces that promote health, flexibility and the comfort of home in a shared office setting. Knowing this, we have identified four key trends for 2022 (and beyond) and they are all very interrelated: … [More]

The Sustainable Valley Located in Buckeye, Arizona

by Anita Verma-Laillan

We recently facilitated an accumulated $20 million deal in Buckeye, Arizona, with the purpose of driving sustainable energy, warranting the name Sustainable Valley for the syndicated 200-acre land deal.  The real estate market alone makes up 49% of global carbon emissions. This fact drives our interest in making sustainable living more prevalent, especially here in our home … [More]

2021 Sees All-Time Records in Phoenix Industrial Market

by Mike Hunter

Colliers in Arizona reports the Metro Phoenix industrial market set a series of records in 2021, making it the most active year in the area’s history. Net absorption in 2021 was 80% higher than 2020, construction levels hit a historic peak in fourth quarter, and vacancy rates dropped to their lowest levels ever in the final months of the year. In addition, investment sales … [More]

1.5M-Sq-Ft Industrial Development in Mesa

by Mike Hunter

New York-based Wharton Industrial has acquired a 101-acre parcel of land in Mesa, Ariz., in which it plans to invest more than $200 million to develop The Hub@202, an 11-building, 1.5 million-square-foot Class A industrial park.  Financing for the project was provided by MSD Capital, LP, the family office of Michael Dell. Construction is set to begin in Q2 of 2022. The site … [More]

Buckeye Development Targets E-Commerce and Logistics

by Mike Hunter

SVN Desert Commercial Advisors completed the sale of an approximately 77-acre industrial site in Buckeye at the southeast corner of Apache Rd. and Southern Ave., adjacent to the Cardinal Glass and Walmart distribution facilities. Contour Real Estate, a California-based real estate investment and development firm, purchased the land for $14.5 million and plans to develop a 1.2 … [More]

10M-Sq-Ft Industrial Planned in W. Phoenix

by Mike Hunter

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired 961 acres of land in El Mirage, Ariz., which will be developed into one of the largest industrial parks in Arizona’s history. With initial development of the Copperwing Logistics Center beginning this … [More]

Predictions for the Phoenix Multifamily Market in 2022

by John Kobierowski

Phoenix real estate is on fire, and multifamily investments have enjoyed a year of unprecedented growth. The key drivers generating the tremendous sales volume of apartment buildings in the Valley last year are expected to continue into 2022, making the outlook for Phoenix multifamily incredibly positive. The No. 1 driver of the Phoenix multifamily real estate market is the … [More]

New Boutique Hotel in Old Town Scottsdale

by Mike Hunter

On the site where once sports fans crowded the hallways or gazed from their tables to revel in the sports memorabilia mecca that was Don & Charlie’s steakhouse, Opwest Partners and Argosy Real Estate Partners last month opened the doors to Senna House. It is the first new hotel to open in the Scottsdale Entertainment District in 13 years. “Senna House has been in the … [More]

Flexibility Designed into Fully Spec Industrial in Gilbert 

by Mike Hunter

Developers GID and SunCap Property Group recently broke ground on the next major stage of development at Gilbert Spectrum: three brand new, fully speculative, Class A industrial buildings. “The Phoenix industrial market has been on a growth streak since before the start of the pandemic,” says Rusty Martin, operations manager of the Southwest Division at Graycor Construction  … [More]

Build-to-Rent in Avondale 

by Mike Hunter

Scottsdale-based Empire Group of Companies, a leader in mixed-use high-rise and build-for-rent development, recently broke ground on a build-for-rent community in the West Valley. The Village at The BLVD will include 187 single-family homes for rent within the gated community located in Avondale, just west of Avondale Blvd. on the southwest corner of 111th Avenue and Roosevelt … [More]

Sustainable-Living, Opportunity-Zone Development in Tempe 

by Mike Hunter

Milhaus, a national award-winning developer, owner and operator of Class A multifamily properties, has closed on its second residential apartment development in Tempe, Arizona. The $56-million Qualified Opportunity Zone development located at 2119 E Apache Blvd. will offer 219 studio, one- and two-bedroom apartment units and five live-work spaces.  The complex will be … [More]

Class A Multifamily for Avondale

by Mike Hunter

Scottsdale-based Sterling Real Estate Partners recently acquired 9.6 acres of land with plans to develop Crystal Cove, a 238-unit, Class A apartment complex in the heart of Avondale’s rapidly expanding community. The land is located in a Qualified Opportunity Zone, which provides for significant tax benefits to investors and will deliver additional multifamily housing to the … [More]

Landscape Trends in COVID-Era Residential Development

by Ryan Trudell

The year 2020 brought so many challenges, yet so many great stories. Isolation from lockdown simply reinforced our need for community and desire for social connections. “Netflix and chill” gave way to a beautiful spring where tree-lined pathways through community greenbelts were filled with joggers and bikers. Pet adoptions were at all-time highs, and the development of dog … [More]

Tri Pointe Homes Adding New Homes in Three Metro Phoenix Communities 

by Mike Hunter

In our hot housing market where low inventories are a big part of the problem, Tri Pointe Homes (which served the Phoenix market for more than 25 years under the name Maracay®) has acquired 210 homesites on which it plans to build new homes in three communities across the Phoenix metro area. The land purchases in Chandler and San Tan Valley fit the homebuilder’s growth strategy … [More]

Toyota Financial Services Center Opens with Regional Design and LEED Cert 

by Mike Hunter

Toyota Financial Services Experience Center West was recently completed. Located in Allred Park Place at 1650 S. Price Road in Chandler, Arizona, TFS West is a 56,219-square-foot workplace organized into neighborhoods with a variety of spaces to support employees’ unique work styles and changing needs. Focus zones, formal meeting environments and informal collaboration spaces … [More]

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