The first phase of retail is nearing 100% leased at PV, the highly anticipated redevelopment of the former Paradise Valley Mall by RED Development, ahead of its grand opening this fall with the recent addition of seven new tenants, including first-to-market restaurants, upscale salons and a medical spa. This significant milestone is building momentum for the rest of the … [More]
VanTrust Getting Great Results with Glendale Developments
VanTrust Real Estate has developed a nationwide portfolio of projects, ranging from office, industrial and multifamily, to mixed-use and science + technology. The Kansas City, Missouri-based firm has an expanding reach across six regional offices, including a Southwest Division office here in Phoenix. Throughout the country, VanTrust has developed a reputation as a company that … [More]
Greystar Completes Industrial Project in Peoria
Greystar, a global leader in the investment, development and management of institutional-quality commercial real estate, recently completed Caliber by Greystar, a three-building, Class A industrial development in Peoria, Arizona. Caliber, which spans 411,918 square feet, marks the first development piece to deliver within Greystar’s $500 million, 88-acre Peoria Place master … [More]
Mosaic Completes Luxury Build-to-Rent Townhomes In Gilbert
Mosaic, the nation’s leading build-to-rent general contractor, recently completed construction on Town Germann, a new luxury BTR community in Gilbert, Arizona, encompassing 14.5 acres of developed land. Town Germann, by California-based Family Development, adds 209 rental townhomes to the region’s housing stock. According to the Morrison Institute for Public Policy, there is … [More]
Importance of Placemaking in Conversion Properties
One of the biggest buzz phrases in real estate development currently is office-to-residential conversions, and, with a pipeline growth of more than 350% nationwide since 2020, it’s easy to understand why. Based on a study done earlier this year by RentCafe, these conversions make up 38% of assets being converted into apartment units for 2024, with Phoenix in the top 10 for … [More]
Capitalizing on Greater Phoenix’s Evolution
A general contractor’s perspective
In the dynamic world of construction, few regions embody the ebb and flow of the industry quite like Greater Phoenix. Historically known as a boom-and-bust city, Phoenix has experienced the cyclical dance of housing developments, driven by fluctuating interest rates and economic tides. However, the past decade has seen a transformative shift, turning Greater Phoenix into a … [More]
Move-in-Ready Spaces Planned for Mesa’s Active Industrial Submarket
Martens Development, a Scottsdale-based development firm that is active throughout the Phoenix market, recently broke ground on its latest Class A industrial development in Mesa, Brickyards on Ellsworth. The construction lender for the project is Principal Asset Management. Leading the construction team is general contractor FCL Builders, which is set to deliver an … [More]
Dual-Branded AC Hotel and Element to Open in NW Phoenix
North Texas developer Jackson-Shaw and Tucson-based Holualoa Companies recently broke ground on a new dual-branded AC Hotel by Marriott North Phoenix at Norterra and Element by Westin North Phoenix at Norterra — a 160,133-square-foot building on three acres. It is expected to provide 60 full-time and 20 part-time jobs. The two hotels connected under one roof are located … [More]
Goodyear Develops Walkable Urban Center
GSQ has reached a construction milestone with the groundbreaking of Goodyear Way, the major street infrastructure connecting Goodyear Civic Square at GSQ to the 150-acre mixed-use development poised to become the city’s new downtown. A joint venture between RED Development and Scottsdale-based Globe Corp., GSQ is set to transform Goodyear as the city’s premier cultural hub … [More]
Class A Industrial Completed in Glendale
Construction has been completed in the development of Echo Park 303, a 676,176-square-foot industrial project located near the intersection of Northern Parkway and Reems Road in Glendale, within the thriving Loop 303 corridor. The Class A industrial center is 33% leased. The project, developed by Echo Real Estate Capital and designed and built by LGE Design Build, is poised … [More]
Live, Work, Shop, Play in Gilbert
Verde at Cooley Station, a mixed-use, walkable center in Gilbert, is finalizing construction and is almost fully leased and ready to enter a consumer-focused phase to fulfill its original vision. “Verde at Cooley Station was built to be a destination and hub for local families and visitors, and we are thrilled to enter a new era of family-friendly fun!” says Norman Brody, a … [More]
PV Parcel Sells Low to Preserve Low Density
In the recent sale of the largest undeveloped parcel of land in Paradise Valley, the sellers accepted a price of $42 million, even though they had received substantially higher offers. The 27-acre parcel, sold by the family of the late John W. Teets Jr., former chairman of the Greyhound and Dial corporations, had been in the family for nearly three decades. It was important … [More]
Emerging Trends in Demand for Phoenix Office Space
According to the U.S. Census, Maricopa County topped the nation in population growth through 2022, and a recent study by QRFY ranked Arizona in the top 10 for most entrepreneurial states based on statistics from the U.S. Bureau of Labor. While some companies are still navigating policies and practices for bringing employees back into the office post-COVID, the combination of … [More]
Transition to Sustainable Energy Sources: A Trend in Real Estate Development
The recent surge in renewable energy deployment has seen substantial growth in utility-scale solar, wind and battery storage projects, driving significant capital investments. These utility-scale projects contribute to the overall grid supply alongside traditional generators like gas and coal-fired plants. However, while utility-scale installations have soared, commercial, … [More]
Managing Common Plumbing Issues within Commercial Buildings
Commercial buildings are active areas where numerous people rely on efficient plumbing systems for daily operations, from washing hands to using the bathroom. However, like any complex system, the plumbing in the building is susceptible to many issues that can disrupt workflow. According to OSHA regulations, all workers must be allowed access to potable water — so, if the … [More]
Expanding Boundaries into the West Valley
All eyes are on the West Valley and for good reason. Communities like Surprise, Glendale and Buckeye continue to attract development and media buzz. From talk of smart cities to bringing more industry to the area, growth continues to climb. In fact, in January of this year global real estate firm Newmark Group Inc. ranked Phoenix No. 1 in the nation for manufacturing growth. … [More]
Build-for-Rent Community Opens in Goodyear
TerraLane Communities, a premier investor and developer of rental neighborhoods, and the build-to-rent arm of residential investor-developer IHP Capital Partners, has completed construction of TerraLane at Canyon Trails South, a new premier rental home community in Goodyear consisting of 297 modern residences and ample amenities. Floorplans are designed to appeal to young … [More]
New Affordable Housing Opens in Phoenix
Rehoboth Place II, built by Gorman & Company in partnership with the Rehoboth Community Development Corporation, is a new collection of affordable housing that recently opened in the Canyon Corridor near 27th Avenue and Camelback Road — one of the most multicultural diverse areas in the Valley. Rehoboth Phase I with 47 units, which opened 13 years ago, and now Phase II … [More]
