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]
Multifamily Development in Downtown Phoenix
JE Dunn Construction and Lincoln Ventures, an Austin-based student housing and national multifamily developer, recently broke ground on 811 N. 3rd Street, a 24-story, 326-unit multifamily development located in the heart of the arts district in Downtown Phoenix. This is Lincoln Ventures’ first multifamily development in Phoenix. The to-be-named project will feature … [More]
New Peoria Self-Storage Facility
Glendale-based land development company Mangat Group has partnered with Aberdeen Management & Development for a locally owned and operated Arizona Self Storage facility on the southwest corner of Loop 101 and Olive Avenue in Peoria. This is Arizona Self Storage’s ninth property in the state and third in the West Valley. Construction began in late October with a year build, … [More]
Industrial Project in Booming Chandler Airport Submarket
Denver-based Comunale Properties and Stevens-Leinweber Construction recently broke ground on Chandler Connection, a 201,000-square-foot, mid-bay Class A industrial project within the booming Chandler Airport industrial submarket in Chandler, Arizona. The project, which is located at 2411 E. Germann Road, between Gilbert and Cooper roads, is Comunale’s first ground-up industrial … [More]
Shared Office Space: New Model for Property Owners
A new risk-free shared office space model offers property owners the ability to achieve desired gross square foot rents in four to five months — with no tenant improvements necessary. It’s a management model that is different from co-working. Prior to COVID, commercial property owners were riding a high-occupancy trend that had been growing since the 2008 recession. Amid … [More]
Tempe’s Hayden Station Transformed to Experiential ‘Arbor’
Phoenix-based developer George Oliver has unveiled its redevelopment plans for the landmark Hayden Station mixed-use property in downtown Tempe, Arizona. Renamed as Arbor and planned with an abundance of foliage, the $41-million experiential office project will include an $18-million renovation that will transform the five-building campus into a one-of-a-kind office and retail … [More]
Trend Alert: Single-Family Living in Multifamily Continues to Increase
As multifamily industry trends continue to evolve, developers must stay in the know to understand what consumers are looking for. Today, the industry is seeing an increase in build-to-rent properties, also known as single-units or horizontal units. This option provides residents the traditional multifamily benefits, but also the privacy residential neighborhoods offer. Experts … [More]
Evergreen Devco Breaks Ground on Multifamily in Tolleson
Evergreen Devco, Inc., a leading retail and multifamily development company, recently broke ground for the development of a 258-unit, multifamily community located at 89th Ave. and McDowell Rd. in Tolleson. The 9.48-acre project, located at 8827 W. McDowell Rd., will add a residential component to the larger Plaza 91 mixed-use development, which currently consists of a … [More]
Facebook’s New Data Center Project Opens Employment Ops with Rosendin
Construction on Facebook’s Mesa Data Center has begun in Mesa’s Elliot Road Tech Corridor. The project aims to serve as a model of energy efficiency and will be supported by 100% renewable energy from new solar energy plants, apply for LEED Gold certification, and receive credits for water restoration efforts. Rosendin, the nation’s largest employee-owned electrical contracting … [More]
Camelot Homes Launches Innovative Luxury Brand
Camelot Homes has launched a new introductory luxury brand: G3 by Camelot Homes. Led by 37-year-old, third-generation homebuilder Trent Hancock, the aptly named brand will focus on homes that offer a first step up to luxury. The first project to be built under the G3 name is Paradigm, a 12-lot gated community coming to North 18th Street and East Winchcomb Drive in North Phoenix … [More]
Phoenix Apartment Construction Leads Nation
According to RENTCafé by Yardi Matrix, apartment construction remains strong this year with more than 330,000 new rental units expected to be delivered nationwide — comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of new apartments — among them, the Metro Phoenix … [More]
Construction Technology Lowers Concrete’s Carbon Footprint
Sustainability is increasingly a priority for architects, engineers and developers as they urgently seek solutions that reduce embodied carbon in the built environment, which is generated by the manufacturing of building materials and construction. Coreslab Structures, a premier producer of precast/prestressed concrete products, can utilize a carbon dioxide removal … [More]
Developer Enters Phoenix Market with Glendale Industrial Project
Falcon Park 303 Phase I, a speculative industrial product located along the red-hot Loop 303 corridor in Glendale, broke ground last month. This project marks the entry into the Phoenix market of St. Louis, Missouri-based US Capital Development, which has several active projects on the other side of the Mississippi. Falcon Park 303 Phase I sits on 36.75 acres along … [More]
Development Slated on One of Goodyear’s Last Large Industrial Parcels
In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Scottsdale-based Harvard Investments have purchased 585 acres in Metro Phoenix’s West Valley submarket for a major new Class A industrial development called Goodyear AirPark. Situated next to the Phoenix-Goodyear Airport, it is one of the last large … [More]
Chamberlin + Associates Restoring Al Beadle Building for Its HQ
Chamberlin + Associates Real Estate Management has purchased the 21,000-square-foot office building at 500 E. Thomas Road, originally designed by Phoenix modernist master Al Beadle, to serve as its future corporate headquarters as it continues to grow in Arizona and other Southwestern states. Maintaining the original design of Beadle while bringing an open and inviting … [More]
CapRock’s Infill Project Is Phoenix’s Largest Industrial Spec Development
CapRock Partners, a leading industrial investor, developer and asset manager in the Western U.S., has commenced development of CapRock West 202 Logistics, the largest speculative industrial real estate project in the history of the City of Phoenix. CapRock is transforming one of the largest remaining infill land sites in the Southwest Phoenix submarket into a state-of-the-art, … [More]
Lincoln Property Co. Sells Park303 Phase I for Record-Breaking $186 Million
Within one month of completing the project, leading developer LPC Desert West has sold the fully leased, 1.25-million-square-foot Park303 Phase I in Glendale, Arizona, to BentallGreenOak, a leading global real estate investment management advisor and real estate services provider. At $186 million, the transaction represents the highest single-building industrial sale price in … [More]
Adaptive Reuse: Should Retrofitting Be the Future of Real Estate?
Adaptive reuse, or the process of reusing an existing building for a purpose other than that for which it was originally built or designed, is an important commercial real estate trend that our team predicts has long-term staying power. While new build construction has many benefits, adaptive reuse is moving on from being considered solely for historical buildings or … [More]
