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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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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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