Luna Azul, a new gated single-family home community, offering a new approach to independent living for adults with disabilities, recently celebrated its grand opening and the move-in of the community’s first residents. The 4.5-acre development located in North Phoenix also launched its Community Association, which provides heightened attention through 24/7 on-site monitoring … [More]
Airbnb Community Expands Lodging Capacity in Tempe during Game Weekends
According to figures recently released by Airbnb, the Tempe host community welcomed approximately 7,310 guest arrivals and earned a combined $493,700 in supplemental income during college football game weekends this past fall, helping the community significantly expand lodging capacity and welcome the surge in visitors. In addition to helping hosts earn important … [More]
Lock-and-Leave Condos in Chandler
Chandler’s newest resort-style lock-and-leave condominium community, Waterfall Villa Residences is under development and pre-selling in advance of model completion. The community showcases a limited collection of 106 custom-crafted, villa-style residences located near the intersection of Chandler Boulevard and Cooper Road. Priced from the mid-$200s, Waterfall meets the area … [More]
Evolving Office Submarket Attracts Vancouver Developer
Townline Ventures has acquired its first Phoenix office asset with the purchase of the recently modernized 20-story midtown office tower located at 2600 N. Central Avenue, the sale negotiated through Colliers International in Arizona. In addition to its current land holdings in Arizona, the Vancouver-based company purchased 2600 Tower as part of its continuing efforts to … [More]
Luxury Multifamily for Downtown Phoenix
Hines, the international real estate firm, breaks ground this month on Adeline — its first multifamily property in the Phoenix market. The 25-story, 379-unit complex near Talking Stick Resort Arena and the new downtown Fry’s grocery store will feature an urban courtyard, junior Olympic-size swimming pool and clubhouse. “Hines has a long tradition of developing iconic luxury … [More]
Sustainable Design Is at Core of Chandler Veridian Development
Offices at Chandler Veridian, capstone to the Chandler Viridian mixed-use project, has recently earned Gold certification from the U.S. Green Building Council’s LEED® Core and Shell rating system. At six stories, the award-winning building is the tallest multi-tenant office building in Chandler. The Class A office building with 252,418 square feet of leasable space is … [More]
Toll Brothers New Community Destined to Change the Face of Surprise
No matter where one goes in the Valley, chances are, there is construction under way. The region is growing by leaps and bounds, and with that has come a surge of new homes. One West Valley city that continues to take shape is Surprise. During the past 17 years, the city’s population has swelled by nearly 350 percent, and commercial development in construction, retail and … [More]
Investment in Smart Buildings Moving Up the Agenda
Our new research among landlords, property managers, agents and suppliers reveals that investment in smart building technologies is finally moving up the agenda. There is increasing recognition of their ability to create efficiencies in commercial real estate, bringing costs down, increasing tenant satisfaction, improving space management and ensuring strong energy … [More]
Spotlight Shifts from Mega to Smaller Warehouses
The growth of e-commerce has lifted the entire industrial and logistics real estate sector, with warehouses smaller than 120,000 square feet occupying the sweet spot. These “light industrial” properties outperformed other property types over the past five years, according to CBRE’s analysis, by size, of industrial buildings nationwide. Specifically, light industrial warehouses … [More]
First-of-its-Kind U.S./Mexico Inland Port and Customs Processing Hub
SkyBridge Arizona and leading general contractor Graycor Construction Company have broken ground on the first two buildings at SkyBridge Arizona. The major master-planned development will serve as the nation’s first-ever joint U.S. and Mexico inland port and customs processing hub. SkyBridge has selected Graycor for the design-build of the first two buildings. Located on 360 … [More]
Novus Innovation Corridor Gaining Six-Story Class A Office
The L-shaped office building — 777 Tower at Novus — is under construction by Ryan Companies US, Inc. The 160,000-square-foot, multi-tenant structure, designed by local architect DAVIS, will feature an open floor plan with penthouse office space and about 8,000 square feet of retail space on the first floor. There also are plans to create a plaza area for event usage. Located … [More]
Taylor Morrison in New Gilbert Community
Leading national builder and developer Taylor Morrison is opening its Greenfield Ranch community in Gilbert. It will offer four floor plans from its Summit Collection, with single-story homes ranging in size from 2,764 to 3,396 square feet, and, from its Capstone Collection, three floor plans that range in size from 3,534 to 4,333 square feet. Greenfield Ranch is located … [More]
ViaWest Developing Industrial in Goodyear
ViaWest Group has closed on the acquisition of a 25.91-acre parcel at Elwood St. and Sarival Ave. in Goodyear, which will be developed into three industrial buildings totaling approximately 410,000 square feet. Construction is set to begin in March 2020 with a delivery in early 2021. “The rapidly expanding Goodyear industrial market is a strategic location for a long-term … [More]
New Mark Kia Largest Image Facility in Arizona
Western States General Contracting is nearing completion on the new, stateof- the-art, $13-million Mark Kia on 8.9 acres at the Scottsdale AutoShow at Salt River development. This is the third car dealership in the Scottsdale-based contractor’s automotive project portfolio and is expected to be completed this month. Slated to be the largest image facility in Arizona and the … [More]
Opportunity Zones: Maximizing Potential while Protecting against Risk
Opportunity Zones and Opportunity Funds create much excitement as powerful new economic development tools for many businesses and investors as well as communities looking to develop (or redevelop) areas that could become economic drivers. They were created specifically to spur economic development through the benefit of capital gain deferment to incentivize an injection of … [More]
Drafting an Entitlement Team
Assembling one’s entitlement team is a lot like drafting an NFL prospect. Given the significant investment and risk of acquiring and entitling property, smart developers should assemble a team of pros that balance a roster and position a project for success. The best property owners and developers prioritize the value of strategic teammates. That includes zoning counsel, … [More]
Favorable Activity in Office Pipeline
The Phoenix office market has already absorbed more than 3.07 million square feet of office space in 2019. According to the Q3 Office Insight report just released by the Phoenix office of JLL, that is a three-quarter absorption rate record for the Valley, topping the last high-water mark of 2.9 million square feet of space absorbed during the first three quarters of … [More]
Infill Parking Field to Site Pad Development
Evergreen Devco, Inc., a leading retail and multifamily development company, has begun construction on a pair of single-tenant retail buildings that will house a Black Rock Coffee Bar and a Wilhelm Automotive on the southeast corner of 35th Avenue and Greenway Road in Phoenix. The two buildings are part of Evergreen’s pad development project of an existing shopping center. … [More]
