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Hanover to Develop Upscale M-F Project in Tempe; Griffin Pays $32M for Chandler Flex Building

Hanover to Develop Upscale M-F Project in Tempe; Griffin Pays $32M for Chandler Flex Building

Houston-based The Hanover Company has completed the acquisition of a 2.76-acre parcel within the 22-acre Centerpoint on Mill complex, with plans to bring high-end housing to the heart of downtown Tempe.…

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JDM Partners Buys State Farm’s Tempe Operations Center for $73M

JDM Partners Buys State Farm’s Tempe Operations Center for $73M

In a $73 million deal, an affiliate of Phoenix-based JDM Partners L.L.C. has acquired State Farm Mutual Automobile Insurance Co.’s operations center in Tempe.…

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Ryan Cos., Sunbelt Holdings Team for $600M Tempe Project; DMB Opens Mesa Master-Planned Community

Ryan Cos., Sunbelt Holdings Team for $600M Tempe Project; DMB Opens Mesa Master-Planned Community

Ryan Companies US, Inc., and Sunbelt Holdings have joined forces for what would be the biggest office development deal in Arizona history. The team is eyeing a $600 million transit-oriented project adjacent to Tempe Town Lake in Tempe.…

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DPR’s Phoenix Office Wins Landmark Certifications; IIT Pays $77M for Mesa Complex

DPR’s Phoenix Office Wins Landmark Certifications; IIT Pays $77M for Mesa Complex

In a milestone for sustainability and adaptive reuse, an office building developed by DPR Construction has earned recognition as the largest net-zero energy building certified to date by the International Future Living Institute.…

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PrivatePortfolio Group Pays $68M for Scottsdale M-F Complex; $40M Student Housing Project Nears Completion in Tempe

PrivatePortfolio Group Pays $68M for Scottsdale M-F Complex; $40M Student Housing Project Nears Completion in Tempe

In a $68.3 million deal, PrivatePortfolio Group LLC of Seattle has acquired Crown Court Apartments, a 416-unit multi-family property in Scottsdale. Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE Group Inc.’s Phoenix office represented the seller and structured the transaction. The property was 95 percent occupied at the time of…

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Crescent to Build Scottsdale Quarter’s First Multifamily Project

Crescent to Build Scottsdale Quarter’s First Multifamily Project

Glimcher Realty Trust, a retail REIT, and Crescent Communities, a Charlotte-based real estate investment, development and operating company, recently announced plans to break ground on a 275-unit, luxury apartment community in Scottsdale under a joint venture agreement.…

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Bascom Group Pays $35M for Downtown Chandler M-F Asset

Bascom Group Pays $35M for Downtown Chandler M-F Asset

By Amalia Otet, Associate Editor An affiliate of Irvine, Calif.-based Bascom Group L.L.C. has completed the $35.2 million acquisition of The Fairways, a 352-unit Class A apartment community located in Downtown Chandler. Cliff David and Steve Gebing of Marcus & Millichap Real Estate Investment Services Inc. represented the seller; Bascom…

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Sky Harbor Launches $1.58B Automated Rail System

Sky Harbor Launches $1.58B Automated Rail System

Sky Harbor celebrated a major milestone with the opening of the $1.58 billion PHX Sky Train system on April 8. Striving to provide a seamless travel experience, the electrically-powered, automated train will operate 24-hours a day, 365 days a year, transporting passengers between the 44th Street and Washington METRO light…

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Macy’s Plans $35M Expansion for Goodyear Fulfillment Center

Macy’s Plans $35M Expansion for Goodyear Fulfillment Center

Macy’s Inc. has recently announced it would invest circa $35 million in expanding its Goodyear online fulfillment center. The expansion will also bring an additional 125 jobs to the area. According to the retailer’s plans, construction is expected to begin this summer, with an opening date set for the spring…

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Gilbane, P.B. Bell Launch Upscale 389-Unit M-F Complex in Chandler

Gilbane, P.B. Bell Launch Upscale 389-Unit M-F Complex in Chandler

Gilbane Development Company and The P.B. Bell Companies have teamed up to develop a luxury apartment community in Chandler. Called Almeria at Ocotillo, the multifamily development will feature 389 units with one, two and three-bedroom options.…

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Mark-Taylor, Kitchell to Develop 590-Unit M-F Project in Tempe

Mark-Taylor, Kitchell to Develop 590-Unit M-F Project in Tempe

Mark-Taylor Inc. has recently announced it would team up with Phoenix-based Kitchell Development Co. to develop a 590-unit multifamily project in Tempe. The giant apartment community will be called San Sonora.…

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Optima Sonoran Village Leads Downtown Scottsdale’s M-F Development Wave

Optima Sonoran Village Leads Downtown Scottsdale’s M-F Development Wave

The first phase of Optima Sonoran Village, consisting of a 210-unit apartment building in downtown Scottsdale has recently marked an important milestone for the local apartment market; the seven-story tower is the first completed project in a wave of thousands of apartments proposed downtown.…

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