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$52M Student Housing Project Given Name: Roosevelt Point

$52M Student Housing Project Given Name: Roosevelt Point

A $52 million student housing project in downtown Phoenix got two major boosts a week ago. Six months after it broke ground, the project finally has a name: Roosevelt Point.…

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Agua Caliente, World’s Largest Solar Plant, Hits Milestone

Agua Caliente, World’s Largest Solar Plant, Hits Milestone

By Camelia Bulea, Associate Editor The Agua Caliente solar project—the world’s largest photovoltaic power plant currently in operation—has achieved 250 megawatts of grid-connected power out of a total capacity of 290 megawatts. Built by First Solar Inc. on a 2,400 acre-site between Yuma and Phoenix, the plant started operation in January, when…

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Shea Homes to deliver 250 homes at Johnson Ranch

Shea Homes to deliver 250 homes at Johnson Ranch

By Camelia Bulea, Associate Editor In July, builders nationwide sold new homes at an annualized rate of 372,000, a 3.6 percent gain compared to the 360,000 sold in June and a year-over-year increase of 25.3 percent, according to the U.S. Census Bureau. The report, quoted byCNNMoney, states that existing home sales…

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$90M Amazon Buy is Latest in Industrial REIT’s Local Spree

$90M Amazon Buy is Latest in Industrial REIT’s Local Spree

By Camelia Bulea, Associate Editor Denver-based Industrial Income Trust Inc. acquired a 1.26-million-square-foot Amazon distribution facility in a $90.3 million deal, the Phoenix Business Journal reported. At $71.25 per square foot, the price is the highest ever commanded by a spec industrial building in the metropolitan Phoenix market, Cushman & Wakefield…

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Intel Corp. Adds $300M R&D Facility at Chandler Campus

Intel Corp. Adds $300M R&D Facility at Chandler Campus

By Camelia Bulea, Associate Editor Intel Corp. is investing $300 million in a new research-and-development facility at its campus in south Chandler, thus further expanding its footprint in the city where it has had a presence since 1979. The facility is currently under construction at the technology giant’s Ocotillo campus. AZCentral.com reports that the…

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JPMorgan Sells Luxury M-F Asset in Ahwatukee for $61M

JPMorgan Sells Luxury M-F Asset in Ahwatukee for $61M

By Camelia Bulea, Associate Editor Chicago-based Waterton Associates L.L.C. paid $61.3 million to acquire Andante Apartments, a 576-unit luxury apartment community in Ahwatukee. The price is the second-highest commanded by a multi-family asset in metropolitan Phoenix this year, bested only by the $68.8 million paid for the San Melia Apartments about…

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Crow Holdings Buys N. Scottsdale Center for $38M

Crow Holdings Buys N. Scottsdale Center for $38M

By Camelia Bulea, Associate Editor Dallas-based Crow Holdings Capital Partners L.L.C has acquired Scottsdale Horizon, a 154,766-square-foot neighborhood retail center, in an all-cash transaction valued at $38 million. The buyer is a separate fund of Crow Holdings, a private wealth management entity affiliated with the estate of the late Trammell…

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Mayo Clinic Marks Milestone With Innovative Projects

Mayo Clinic Marks Milestone With Innovative Projects

By Camelia Bulea, Associate Editor The Mayo Clinic is building a $182 million proton-beam therapy center adjacent to its Phoenix hospital. The first treatment rooms are expected to open by 2016, followed by additional rooms the next year. Additionally, the non-profit clinic plans to add a medical-school branch campus in…

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Mesa Breaks Ground on $99M Chicago Cubs Ballpark

Mesa Breaks Ground on  $99M Chicago Cubs Ballpark

By Camelia Bulea, Associate Editor Construction of the $99 million baseball park in Mesa that will be the spring training home of the Chicago Cubs officially kicked off July 11 with a groundbreaking ceremony hosted by city leaders and officials of the Major League Baseball team. Located on Dobson Rd.…

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Angelo, Gordon and Slavin Pay $43M for Multi-Family Asset

Angelo, Gordon and Slavin Pay $43M for Multi-Family Asset

By Alex Girda, Associate Editor In a $42.5 million deal, Angelo, Gordon & Co. L.P. and its partner, Slavin Multifamily Advisors LLC, have acquired  Villa Salerno Apartments in Northeast Phoenix from an affiliate of Colony Realty Partners, the Phoenix Business Journal reported. Constructed in 1996 by Mark-Taylor Development, the 412-unit…

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Globe Buys Chandler Property; MainSpring Sells Tempe Trio

Globe Buys Chandler Property; MainSpring Sells Tempe Trio

By Alex Girda, Associate Editor Scottsdale-based investment and private equity firm Globe Corp. is the new owner of a Chandler industrial property that it has acquired from Milgard Manufacturing Inc. in a $7.6 million deal, The Phoenix Business Journal reports. The building is part of the Westech Corporate Center near Arizona…

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Lincoln Inks 164,000 SF of Leases at Mesa Business Park

Lincoln Inks 164,000 SF of Leases at Mesa Business Park

By Alex Girda, Associate Editor Lincoln Property Co. recently completed 164,000 square feet in new leases and renewals at its Broadway 101 Commerce Park in Mesa. The firm has completed a new deal with PODS, an international moving and storage company, for 67,949 square feet at the complex at 2160 West…

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