Korman Communities and RXR have completed the purchase of their first property in the Phoenix market: AVE Phoenix Terra at the southeast corner of Fifth Avenue and Fillmore Street. The newly opened 348-unit, seven-story, professionally managed, Class A residential mid-rise features luxury apartments, fully furnished apartments, 60,000 square feet of amenity space, and 7,000 … [More]
Peoria’s Largest Master-Planned Community Site Draws Developer
Castle Hill Partners, an Austin-based community developer, purchased the 5,261-acre master-planned community project known as Saddleback Heights. The parcel is the largest remaining undeveloped master planned community project site in the city of Peoria, Arizona. “This is one of the highest-quality sites for a new master planned community we have seen in our search of the … [More]
Abrazo to Build Med Campus in W. Phoenix
Abrazo Health has acquired property to develop a medical campus on 27 acres near the southwest corner of I-10 and Verrado Way. The initial phase of the development is expected to break ground in 2022. Plans for the campus include a medical office building, ambulatory services and an acute care hospital. Abrazo Health anticipates that its new medical campus will be a health care … [More]
Rehab Hospital Breaks Ground in Peoria
Adolfson & Peterson Construction, a top national construction management firm and general contractor, and Reunion Rehabilitation Hospitals, a system of state-of-the-art inpatient rehabilitation hospitals — with support from America Development & Investments LLC, a leading healthcare real estate developer based in Dallas — recently broke ground on a new, … [More]
New CRE Firm Addresses Arizona’s Growing Need for Healthcare Facilities
As the Phoenix area continues to see the nation’s fastest growth, demand for medical services is also rising. To help clinicians provide the care the Valley needs, long-time commercial real estate broker Trisha Talbot recently launched Doc Properties, a real estate investment services firm that serves healthcare practices and investors in a booming property … [More]
Beginning with the End in Mind
Technology is all around us. It’s so integral to our daily lives that we often forget how reliant we are on the electronics that drive our everyday activities. This means everything from the mechanical and electrical systems in the car we drive to the systems that power our garage door opener or refrigerator. Semiconductors, and a huge variety of microchips/processors, are a … [More]
Luxury North Scottsdale Condos from New-to-Arizona Developer
Luxury condominium project Portico – North Scottsdale, a key piece of DMB’s One Scottsdale master-planned development, will kick off Belgravia Group’s entry into the Arizona market. The development at Loop 101 and Scottsdale Road, by the award-winning Chicago-based real estate development firm, will be comprised of 112 residences and will feature stunning views of the McDowell … [More]
Sunlit’s Planned Manufacturing Facility Brings $100 Million Investment to Phoenix
Sunlit Chemical, a leading semiconductor chemical supplier based in Taiwan, recently broke ground on its first U.S. manufacturing facility in Phoenix. Sunlit’s presence advances Arizona’ reputation as a national semiconductor leader and advances the state’s unrivaled semiconductor industry supply chain. “As an advanced manufacturer providing high-wage jobs to the region, … [More]
Industrial Development Near Mesa Gateway Airport
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
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
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
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
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
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
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
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
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
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]
