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Novawest Proposes Landmark 420-Foot-Tall Tower for Downtown Phoenix

Novawest Proposes Landmark 420-Foot-Tall Tower for Downtown Phoenix

By Camelia Bulea, Associate Editor Novawest L.L.C. is planning a distinctive addition to the Downtown Phoenix skyline: a 420-foot pin-like tower that would be the tallest building in Arizona. Bjarke Ingels Group, a Copenhagen-based architectural firm, is providing the design for a 39-story structure with a reinforced concrete core topped by…

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University of Arizona Launches $100M Cancer Center at Phoenix Biomedical Campus

University of Arizona Launches $100M Cancer Center at Phoenix Biomedical Campus

The Arizona Board of Regents approved the construction of The University of Arizona Cancer Center, a $100 million cancer clinic at the Phoenix Biomedical Campus. Four of the building’s six stories will be built out initially. The fifth floor will be constructed as shell space for future expansion, and the…

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Van Tuyl Group Plans $16M Cadillac Dealership in Glendale

Van Tuyl Group Plans $16M Cadillac Dealership in Glendale

The Van Tuyl Group is planning to develop a $16 million Arrowhead Cadillac dealership in Glendale. The 55,000-square-foot showroom and service center would be located on an eight-acre tract located near 83rd Avenue and Bell Road.…

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Tanger Opens $76M Outlet Mall at Westgate City Center in Glendale

Tanger Opens $76M Outlet Mall at Westgate City Center in Glendale

Eight months after breaking ground, Tanger Outlets Westgate, a $76 million outlet mall, opened to the public on Nov. 15, reported the Phoenix Business Journal. The 85-store center will be an anchor for the 8 million-square-foot Westgate City Center complex, which will incorporate shopping, entertainment, office and luxury residential elements.…

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First Washington-CalPERS JV Buys Lincoln Village Shops for $38.7 million

First Washington-CalPERS JV Buys Lincoln Village Shops for $38.7 million

Global Retail Investors L.L.C ., a joint venture of First Washington Realty and the California Public Employees’ Retirement System, has acquired Lincoln Village Shops in Scottsdale for $38.7 million, or $544.16 per square foot. The seller, an affiliate of Redwood Real Estate Partners, had owned the 71,142-square-foot property…

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Intravest Takes N. Phoenix Flex Building for $19M

Intravest Takes N. Phoenix Flex Building for $19M

Intravest Development L.LC. has purchased a 145,000-square-foot flex industrial building in North Phoenix. This $19.06 million acquisition marks the first commercial asset in the investor’s portfolio, the Phoenix Business Journal reported. Robert Lundstedt of Daum Commercial represented Intravest in the transaction. Johnson Bank provided financing for the buyer.…

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Contested $17M Senior Housing Project Breaks Ground in Mesa

Contested $17M Senior Housing Project Breaks Ground in Mesa

Mesa officials broke ground Oct. 29 on a $17 million senior living center in the city’s Downtown. Dubbed the Residences at Center Street Station, the five-story project is being developed by Mesa Housing Associates and Encore and is scheduled for completion by October 2013, the East Valley Tribune reports.…

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Banner Health Group Starts $45M East Valley Expansion

Banner Health Group Starts $45M East Valley Expansion

Banner Health Group is expanding its East Valley presence with a $45.2 million quartet of healthcare centers in Chandler, Gilbert, Mesa and Queen Creek. The Phoenix-based company broke ground Oct. 24 on all four facilities, the East Valley Tribune reported.…

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Archway Holdings Buys Glendale MOBs from Ventas for $20M

Archway Holdings Buys Glendale MOBs from Ventas for $20M

In a $20 million deal, Archway Holdings Corp. has acquired Arrowhead Health Center, a 103,216-square-foot, two-building complex located near Arrowhead Hospital in Glendale, from Ventas Inc., the Phoenix Business Journal reported. Formerly known as Arrowhead Orchards, the complex is about 65 percent leased, a level that Archway believes offers growth…

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Allred Starts 2nd Spec Project of 2013 at Chandler Office Park

Allred Starts 2nd Spec Project of 2013 at Chandler Office Park

Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler--a 69,000-square-foot speculative office building. The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the Phoenix Business…

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Weidner Adds Chandler Complex to Growing Arizona Portfolio

Weidner Adds Chandler Complex to Growing Arizona Portfolio

In a $27.3 million deal, an affiliate of Weidner Apartment Homes has acquired Dobson Towne Centre, a 240-unit luxury apartment property in Chandler. CBRE Group Inc. represented Weidner in the transaction, which was financed with a $20.7 million Fannie Mae loan.…

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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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