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]
Build-to-Rent in Avondale
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
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
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]
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]
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]
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]
Affordable Housing Breaks Ground in Central Phoenix
Construction on Mesquite Terrace, a multifamily affordable housing community in the Solano Neighborhood on 19th Avenue, one block north of Camelback Road near the light rail, broke ground earlier this summer. When completed at the end of 2023, the three-building property on nearly four acres will offer 297 units: 129 one-bedroom, 78 two-bedroom and 90-three bedroom … [More]
Attainable Housing Fills Gap between Affordable and Luxury
Scottsdale-based Greenlight Communities plans to start construction this summer on a 250-unit development called Cabana Southern just west of the southwest corner of Crismon and Southern Avenues in Mesa, and expects to welcome its first residents in fall of next year. Greenlight Communities is the first company to focus solely on building attainable housing to fill the void … [More]
Not Yet in Phoenix
Businesses’ workforce needs span from high-level (and high-paying) jobs to entry-level and menial jobs. Businesses need workers, and all income levels need housing. Creative ideas have been emerging to address the affordable housing crisis. Gensler, for instance, is involved in a project in Los Angeles that is using prefabricated modular construction, which it predicts will be … [More]
Major Tech Corridor Development in Mesa
East Gate Plaza, a 17-acre mixed-use development by Scottsdale-based Diversified Partners in the Elliot tech corridor in Mesa at northeast corner of Ellsworth and Elliot roads, will include medical, office and retail components. Diversified Partners has multiple deals in process that include restaurants, retail, convenience store/gas station, coffee, dessert, nail salon and … [More]
Luxury Build-to-Rent Development for Apache Junction
Chandler-based Paragon Development Group recently began construction on Hampton Meridian, a new 195-unit, luxury, build-to-rent community on 15.67 acres on the NEC of West Southern Avenue and South Meridian Road in Apache Junction. Its first units are expected to be available in March 2022. “The demand for convenient, new and well-located residential rental choices in the US 60 … [More]
