What happened, and who moved.
Montecito acquired a fully leased medical office building in Gilbert at a premium price.
Phoenix office market shows declining vacancy despite weak leasing activity.
A Lowe's warehouse facility in Mesa industrial park sold for $116 million.
Developers are evaluating conversions of office buildings to medical office buildings (MOBs) in response to tight development pipelines.
ICE acquired a large warehouse asset in Surprise, Arizona for $70 million.
EdgeCore obtained zoning board approval for a scaled-down data center development project in Mesa, Arizona.
Aldi plans to open three new locations across the Phoenix metropolitan area, occupying vacant big-box retail space.
Industry experts assess the impact of Taiwan Semiconductor Manufacturing Company's investment on Phoenix's real estate and economic development.
A Hyatt hotel development proposed adjacent to Taiwan Semiconductor Manufacturing Company's Phoenix campus has received key approval.
Developers are competing for industrial space near TSMC semiconductor fabrication facilities as the chipmaker accelerates production capacity.
Machine Investment Group acquired a 10-building, 1.3 million square foot industrial park in Phoenix's southeast valley.
Phoenix office developers are incorporating ground-floor retail offerings as an amenity to attract tenants back to the office.
A $7 billion mixed-use development called Halo Vista has broken ground adjacent to TSMC's Phoenix campus.
Panattoni acquired the former State Farm regional headquarters in Tempe for $375M and will redevelop the site into industrial space.
Lument closed a $73 million bridge loan for the acquisition of a build-to-rent community in Phoenix.
A 99-year ground lease agreement was executed to develop a light industrial project in Phoenix's Salt River community.
A 99-year ground lease agreement on tribal trust land will bring a light industrial project to Phoenix's Salt River community.
A new 99-year ground lease agreement will bring a light industrial project to Phoenix's Salt River community, according to CBRE.
A vacant 19-story office tower in downtown Phoenix is getting a second life as a 340-room J.W. Marriott, marking a $200 million bet on the city’s still-evolving hospitality market. Las Vegas-based LaPour Partners is converting the tower at 400 East Van Buren Street in the Arizona Center, adding restaurants, a pool,…
Phoenix developers announce new industrial projects to attract TSMC suppliers, enhancing the local high-tech ecosystem.
LaPour Partners plans to transform a once-thriving 19-story Phoenix office tower into a 340-room hotel. The Phoenix Business Journal reports the repurposed property at 400 E. Van Buren St. will be across the street from another signature hotel, the 1,000-room Sheraton Phoenix Downtown. Arizona Center was built in…
PHOENIX — INDUS Realty Trust has aacquired 418,000-square-foot warehouse in Phoenix. Terms of the transaction were not released. Fully leased at the time of sale, the cross-dock building can support distribution uses and features “ample” loading doors and trailer parking with 180-foot deep, fully secured and gated…
PHOENIX — INDUS Realty Trust has purchased a 418,000-square-foot warehouse and distribution facility in Phoenix. Terms of the transaction were not released. Fully leased at the time of sale, the cross-dock building features ample loading doors and trailer parking with 180-foot deep, fully secured and gated truck…
Mack Real Estate Group (MREG) and McCourt Partners are kicking off Phase I of an industrial project within Halo Vista, a 2,400-acre master-planned community in North Phoenix, not far from the Taiwan Semiconductor Manufacturing Company plant. Designed by Ware Malcomb, Phase I is planned to include seven buildings…
GILBERT, ARIZ. — Grocer Safeway has opened a 64,000-square-foot store at The Gilmore, a 35-acre mixed-use development by Thompson Thrift that is located in the Phoenix suburb of Gilbert. Safeway will anchor the $225 million project, which is set to feature 300 luxury apartments, a hotel and roughly 200,000 square…
GILBERT, ARIZ. — Safeway has opened a 64,000-square-foot location at The Gilmore, a 35-acre mixed-use development by Thompson Thrift located in the Phoenix suburb of Gilbert. Safeway will anchor the $225 million project, which is set to feature 300 luxury apartments, a hotel and roughly 200,000 square feet of…
PHOENIX — Marcus & Millichap has brokered the sale of a 984-unit Extra Space Storage facility in Phoenix. Located at 6316 N. 7th St., the gated-access property features fully climate-controlled units, drive-in loading areas, multiple elevators, onsite management office, 24/7 video surveillance and an interior…
PHOENIX — Marcus & Millichap has brokered the sale of a 984-unit Extra Space Storage asset in Phoenix. Located at 6316 N. 7th St., the gated-access property features fully climate-controlled units, drive-in loading area, multiple elevators, onsite management office, 24/7 video surveillance and an interior concrete…
MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy,… The post Geringer Capital Sells Avia 266 in Metro Phoenix for $52.4M appeared first on Multifamily & Affordable Housing Business .
SURPRISE, ARIZ. — CapRock Partners has purchased Summit at Surprise, a newly completed, 244,847-square-foot warehouse located northwest of Phoenix. Summit Surprise features two freestanding Class A buildings on two parcels totaling 16.9 acres. Building A spans 79,200 square feet, and Building B totals 165,647…
Another multifamily community in Greater Phoenix sold to an out-of-state investor. San Diego-based ColRich acquired the Avia 266 apartments at 2354 West University Drive in Mesa for $52.4 million, AZ Big Media reported. Beverly Hills-based Geringer Capital was the seller of the 267-unit property, which will be…
Urban Standard Capital has deepened its relationship with a major Arizona bank. Commercial Observer can first report that Urban Standard Capital has increased its aggregate financing capacity for transitional commercial real estate loans with Western Alliance Bank — a Phoenix-based regional bank with $90 billion of…
A Morgan Stanley affiliate paid $59 million for a nearly 200,000-square-foot building in Chandler where Honeywell Aerospace has been a tenant since 2020. The industrial park, Amplify Chandler, was sold by Phoenix Rising Investments. JLL brokers Ben Geelan and Greer Oliver represented the seller. The Phoenix…
A private California investor just spent upwards of $110 million to acquire a build-to-rent community in Phoenix. Scottsdale-based Cavan Companies sold Bungalows on Camelback, a 334-unit low-density residential community, to entities affiliated with Newport Beach-based Marlowe Moy of Golden Horizon Enterprises for…
The Phoenix metro will have more hotels open this year than any other major city in the United States. The Valley of the Sun is expected to have 26 hotel projects open before the end of the year. The Phoenix Business Journal reports that accounts for 3,615 new hotel rooms being added to the regional ... The post…
PHOENIX — Scottsdale, Ariz.-based Cavan Cos. has completed the $112.5 million sale of Bungalows on Camelback, a 334-unit built-to-rent community at 4747 N. 99th Ave. in Phoenix. A California-based private investor has acquired the property for $336,826 per unit. Mark Forrester, John Cunningham, Charles Steele and…
Golden Horizons Enterprises inked a $73.1 bridge loan on Merrick on Camelback, a 334-unit built-to-rent community in Phoenix, Arizona. The financing was arranged by Lument and originated by Arcus Real Estate Capital. The bridge loan has a three-year term with two one-year extension options. Golden Horizon…
GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinancing of Everly at Morrison Ranch… The post PCCP Provides $51.8M Refinancing Loan for Everly at Morrison Ranch in Metro Phoenix appeared first on Multifamily & Affordable…
GOODYEAR, ARIZ. — A venture between Formation Interests and an affiliate of Crescent Real Estate has broken ground on Phase II of Formation Park 10, an industrial development located just west of Phoenix in Goodyear. The three-building expansion will bring Formation Park 10 to nearly 689,000 square feet of…
PHOENIX — Crescent Communities has acquired land and begun construction of NOVEL Norterra, a four-story property on an 8.5-acre site in northern Phoenix. The 248-unit development is part of the… The post Crescent Communities Closes on Land for NOVEL Norterra in Northern Phoenix appeared first on Multifamily &…
Phoenix's office market is showing signs of improving health.
GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the cash-neutral refinancing of Everly at Morrison Ranch, a apartment community located in Gilbert. Built in 2025, the Class A, garden-style community features 236 apartments that…
Commercial projects depend on many systems working together, but few are as important as a reliable power supply. From warehouses and manufacturing sites to data centers and large mixed-use developments, electrical infrastructure affects when a building can open, how safely it can operate, and how well it can…
PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinance of Everly at Morrison Ranch, located at 4353 E. Elliot Road in Gilbert. Built in 2025, the 236-unit Class A garden-style multifamily community is 97% leased and is within Morrison…
Crescent Communities closed on a parcel of land for NOVEL Norterra, a new four-story multifamily community planned in northern Phoenix, Arizona. Situated on an 8.5-acre site just east of I-17 in the Norterra neighborhood, the development will include 248 for-rent residences near the TSMC Arizona semiconductor…
TerraCap Management announced the acquisition of Valley Vista, a 262,000-square-foot three-property industrial portfolio in the Phoenix metropolitan area.
TerraCap Management completed the sale of a flex park property in Phoenix, Arizona.
TerraCap Management LLC announced the acquisition of Tresa at Arrowhead Apartments, a 360-unit multifamily asset in Phoenix's Arrowhead Ranch submarket.
Millburn & Co. acquired the 339-unit Longbow apartments in Mesa, Arizona for $95.25 million, securing a $61.55 million Fannie Mae mortgage on the property.
Elite Garages Scottsdale is now accepting reservations for its new luxury garage condominium community designed for automotive enthusiasts, collectors, hobbyists and lifestyle buyers located ub one of the country’s fastest-growing luxury automotive markets. The development offers owners a secure, customizable space…
Cogent Communications sold 10 data center facilities across Phoenix, Anaheim, Burbank, Stockton, Atlanta, Chicago, Elkridge, Kansas City, Nashville and Houston to a new I Squared Capital-sponsored entity for $225 million cash, providing ~53MW of power capacity and 259,000 sq ft of colocation space.
Christopher Todd Capital acquired Yardly Paradisi, a 193-home build-to-rent community in Surprise, Arizona, from homebuilder Taylor Morrison. The purchase price was not disclosed in the companies' own press release -- a commonly repeated '$32.8m' figure is actually the size of a separate acquisition loan, not the sale price.
Tricon Residential acquired two build-to-rent communities from an Arcadia Capital/Platform Ventures joint venture for $44.1 million total: Bower Hudson Crossing (43 units, Chandler, $23m) and Bower Gateway (48 units, Mesa, $21.1m).
Do you know a person or a project within Arizona’s commercial real estate industry that deserves to be recognized as a project or person to know for their hard work, contributions and impact on the market both recently and in the near future? Then it’s time to nominate that project and/or person for a feature ...…
Willmeng Construction recently celebrated the successful completion of a highly complex tenant improvement project for United Foods International. Located at 6363 W. Dobbins Road, in the Loop 202 corridor, the 129,172-square-foot shell building has been transformed into a state-of-the-art food preparation and…
Butler Design Group (BDG) is serious about producing the highest-quality projects, fostering lasting client relationships and ensuring they provide an engaging yet laid-back work culture. It’s this combination that contributes to the architectural firm’s ongoing success over three decades. And this year is a…
Located between the Phoenix and Tucson metros, Pinal County is the third-most populous in the state with its boundaries stretching nearly 5,400 square miles. As its neighbors to the north and south have seen economic expansion, so too has Pinal County, providing a place for businesses to locate where land and…
On July 1, NAIOP announced a new name for the organization: the Commercial Real Estate Development Association, or CREDA. According to CREDA, the new moniker better communicates the broad scope of commercial real estate work members engage in, such as multifamily housing, retail destinations, logistics and…
As rapid growth continues across Arizona, sometimes older structures must be torn down to make way for local expansion. But when an iconic building is slated for demolition, it can feel like losing a piece of Arizona’s architectural history. That’s why a community partnership has formed to utilize construction…
The membership of the Arizona Builders Alliance (ABA’s) membership has delivered some of the most impactful projects across the state. Here are 25 noteworthy developments made possible by ABA member companies. DEEPER DIVE: How Silicon Desert is powering Phoenix industrial surge READ MORE: Phoenix industrial market…