Commercial Real Estate Transactions 10-01-19
Sales Transactions 1. Multifamily real estate investment, development and management company Cortland has officially closed on the Pure Multi-Family REIT acquisition for $1.2B in cash and has become the largest apartment owner in the Dallas-Fort Worth Metroplex and significantly expands its presence in Phoenix. 2. Coastal Ridge Real Estate, iA Financial Group from The Dinerstein […]
Everything’s Coming Up ACES for Gilbert School Site
By Sammy Williams for AZBEX The Town of Gilbert council met September 19th to approve a zoning change for the proposed ACES of Gilbert special education campus on the SEC of Bluejay Drive and Galveston Street (near the NWC of Williams Field and Power Roads). The meeting followed the unanimous recommendation of the town’s planning commission […]
Surprise P&Z OKs Heritage on Dysart Site Plan
By Tasha Anderson for AZBEX Developer, Quyp Development Services requested site plan approval for Heritage on Dysart, a multifamily residential development to be developed on 9.55 acres south of Elm Street and east of Dysart Road in Surprise. The City of Surprise heard and approved the request at its September 19th Planning and Zoning Commission […]
Lucid Submits Site Plan to Casa Grande
By Suzanne Adams-Ockrassa for Casa Grande Dispatch Lucid Motors has submitted its site plan to the Casa Grande Planning and Development office for review, according to Casa Grande Economic Development Director Richard Wilkie. Wilkie said he expects the company to break ground before the end of the year, although some grading work has been done […]
AZ Airport Infrastructure Grants Announced
Source: Federal Aviation Administration U.S. Transportation Secretary Elaine L. Chao announced that the Federal Aviation Administration (FAA) will award $986M in airport infrastructure grants, the fifth allotment of the total $3.18B in Airport Improvement Program (AIP) funding for airports across the United States. “This significant investment in airport improvements in Arizona will fund construction and […]
Arizona Projects 09-27-19
Awards & Accolades 1. The American Planning Association (APA) has named Pioneer Park in Mesa, one of six Great Public Spaces on APA’s annual Great Places in America list, which starts the countdown to National Community Planning Month in October. Groundbreakings 2. Evergreen Devco Inc. has started construction on its latest 172KSF multitenant retail center, […]
The Pitfalls of Purchasing “Due Diligence in a Box”
by Adam Baugh for Withey Morris, PLC There is a phrase everybody knows: Buyer Beware. Ironically, one of the fatal mistakes a developer can make is purchasing an online zoning summary report (ZR) from a national vendor and assume that covers the breadth and depth of a site’s zoning entitlements and issues. Due diligence in […]
PUSD to Modernize Facilities Across 4 Regions
By Tasha Anderson for AZBEX Phoenix Union High School District is looking to revamp several of their auditorium and athletic facilities across four school regions in Phoenix. In order to accomplish this, PUSD has recently issued four Requests for Qualifications, one for each region, to obtain Construction Manager at Risk Services for the modernization projects. […]
Litchfield Park Considers Businesses for City Center
By Mark Carlisle for Independent Newsmedia Litchfield Park’s Planning & Zoning Commission and City Council are considering what types of businesses and other land uses to permit in the planned downtown City Center project. By the end of the year, City Council will take action on new general plan and zoning designations that will outline […]
How Downtown Phoenix Created ‘An Innovation Core’
By Fara Illich for DTPHX Since 2016, technology and coworking companies have leased 620KSF of office space in Downtown Phoenix – a 1.7-square-mile area that many thought would never attract tech. For decades, companies looking to open or relocate passed over downtown for places like Chandler, Scottsdale or Tempe. The popularity of suburban office parks […]