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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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$25M Sports Complex Debuts on ASU West Campus

$25M Sports Complex Debuts on ASU West Campus

A new $25 million fitness complex is about to open on the Arizona State University West campus in Phoenix. The 63,800-square-foot facility will complete a major expansion project on the West campus.…

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Dignity Breaks Ground on $44M Hospital in Glendale

Dignity Breaks Ground on $44M Hospital in Glendale

San Francisco-based Dignity Health officially broke ground on a new West Valley hospital planned at its medical campus near the Loop 101 and Glendale Avenue. Dignity also unveiled the name of the $44 million facility during the groundbreaking ceremony -- "St. Joseph's Westgate Medical Center".…

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City Weighs 100-Acre Sale to Liberty Property Trust

City Weighs 100-Acre Sale to Liberty Property Trust

The City of Tempe is looking to create a partnership with Philadelphia-based Liberty Property Trust on the development of circa 100 acres of land which could create approximately 6,500 new jobs over the next decade. The deal has yet to be up for council vote on February 7, 2013. If…

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North Scottsdale Mixed-Use Project Launches Construction With $62M M-F Complex

North Scottsdale Mixed-Use Project Launches Construction With $62M M-F Complex

Dallas-based TDI Real Estate Holdings LLC broke ground on the first phase of an upscale multi-family community in Scottsdale that will bring 388 new housing units. Dubbed Jefferson at One Scottsdale, the entire apartment project will consist of about 750 units of luxury housing when complete.…

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ASU Plans Groundbreaking on 130 KSF Project in Tempe

ASU Plans Groundbreaking on 130 KSF Project in Tempe

Arizona State University has recently announced it would break ground on the 130,000-square-foot Block 12 project in Tempe on January 24. Developers target June 2014 as the completion date.…

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Stockbridge Capital/Alliance Residential JV Pays $50M for 629-Unit M-F Complex

Stockbridge Capital/Alliance Residential JV Pays $50M for 629-Unit M-F Complex

California-based Stockbridge Capital Group has completed the acquisition of The Canyons, a 629-unit apartment community in Northwest Phoenix. The $50 million deal was closed in venture with Alliance Residential Co. in Phoenix.…

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