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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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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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