SDLE Backs Off $3M Condo Deal – For Now
By Wayne Schutsky for Scottsdale Progress Hours before a Scottsdale City Council meeting on July 2, city staff pulled a controversial item from consideration that would have seen the city shell out close to $3M to pave the way for the proposed Museum Square project. A Progress report June 30 on the proposed deal triggered […]
Industry Professionals 07-09-19
Giving Back 1. Fulton Homes and 99.9KEZ hosted another remote for their ‘Stuff the Bus’ program on July 6. Throughout the summer, Fulton Homes is donating school supplies to deserving families as part of their “Stuff the Bus” campaign. The annual donation drive generated an estimated $5K worth of school supplies in 2018, and is […]
Commercial Real Estate Transactions 07-09-2019
Sales Transactions 1. The Praedium Group, a New York City-based real estate investment firm, has recently acquired two brand-new, multifamily properties in the southeast Valley. Harper, located in Tempe was purchased by Dallas-based JLB Partners for $93.8M in June, and Town Commons, located in Gilbert, sold in June for around $73.5M. 2. Tides Equities LLC […]
Google Picks Mesa for Giant Data Center
By Jim Walsh for East Valley Tribune Technology giant Google is coming to Mesa, lured by a tax incentive agreement to build a massive data center in the emerging Elliot Road Technology Corridor. The Mesa City Council is primed to approve the Google development agreement at its meeting on Monday night. Mayor John Giles said […]
Industry Professionals 07-02-19
Giving Back 1. Tech Parks Arizona developed Racing the Sun, a hands-on STEM program for high school students, eight years ago to promote workforce development. After incubating the program and establishing good momentum, Racing the Sun is transitioning over to SARSEF–Southern Arizona Research, Science, and Engineering Foundation in order to grow the program and best […]
Commercial Real Estate Transactions 07-02-2019
Sales Transactions 1. Acacia Capital Corporation recently purchased Sonoran Vista, a 264-unit Class A multifamily community at 9340 E. Redfield Rd, Scottsdale, for $67M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Aukum Group. 2. MIG Real Estate recently purchased Del Sol Apartments, a 168-unit […]
Fountain Hills Discovery Center Moves Forward
By Bob Burns for Fountain Hills Times The Fountain Hills Town Council voted June 18 to approve the next stage toward the launch of the Arizona Dark Sky Discovery Center in Fountain Hills. The 6-0 unanimous vote was to authorize the use of town-owned land adjacent to the Centennial Circle next to the Cutillo Civic […]
Goodyear Council OKs 180-Unit Senior Living Complex
By Tasha Anderson for AZBEX The City of Goodyear recently approved a rezoning request for approximately 8.19 acres located east of the SEC of Bullard Avenue and McDowell Road in Goodyear, for the development of a new senior living community. The request, approved at Goodyear’s June 24th City Council meeting, was to rezone the site […]
Loop 202 Submarket Chosen for Commerce Park
Source: Trammell Crow Company Trammell Crow Company (TCC) announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700KSF. The site is located on the Gila River Indian Community (GRIC), at the SWC of Loop […]
Arizona Projects 06-28-19
Awards & Accolades 1. Achen-Gardner’s Downtown Chandler Canal Restoration Project has won the Project of the year Award from Arizona APWA in the Historical Restoration/Preservation, Less Than $5M category. Groundbreakings 2. Thompson Thrift Retail Group has begun construction on the first phase of Sunrise Promenade, an 8.5-acre retail project just south of the SEC of […]