Nikola Pays Millions for Land for Proposed Factory
By Hayley Ringle for Phoenix Business Journal Nikola Motor Co. is another step closer to building its 1MSF electric, semi-truck plant in Coolidge. Nikola, the fledgling Phoenix-based autonomous hydrogen-electric semi-truck startup, paid $23,085,682 on March 4 for the 389-acre property at State Route 87 and Houser Road in Coolidge, according to Walter Unger, a senior […]
Commercial Real Estate Transactions 03-19-2019
Sales Transactions 1. Camden Property Trust plunked down $97M for the 316-unit, low-rise property at 7350 E. Stetson Dr., Scottsdale. The community was built in 2015 and was known until this month as The Stetson. Camden has renamed it Camden Old Town Scottsdale. CBRE’s investment sales team led by Asher Gunter represented the seller, Cottonwood Residential. […]
Alta Raintree a “Mixed-Use Residential Synergy”
By Tasha Anderson for AZBEX Wood Partners is proposing to bring new life to an underutilized property near the NWC of Raintree Drive and Pima Road in Scottsdale, with plans for a new 330-unit residential development. A request was recently submitted to the City of Scottsdale for a minor General Plan Amendment from Airpark Mixed […]
Red Bull, Ball Corp. and Rauch Select GDLE
Source: City of Glendale Glendale City Council recently approved a development agreement supporting RRB Beverage Operations Inc. for a new, multimillion-dollar facility at the SEC of Reems Road and Peoria Avenue in the Woolf Logistics Industrial Campus. The first phase of this flagship development will bring an approximately 700KSF building and over 140 new jobs […]
Industry Professionals 03-15-19
Awards & Accolades 1. Brandon Rodgers, SIOR, CCIM of Cushman & Wakefield | PICOR, has achieved the SIOR industrial designation awarded by the Society of Industrial and Office REALTORS®. 2. Colliers International in Arizona has announced its 2018 Top Producers. The field of men and women represent a wide variety of real estate categories. They are: Todd […]
Arizona Projects 03-15-19
Groundbreakings 1. LGE Design Build, in partnership with Clarius Partners LLC, have broken ground on the 791KSF The HUB at Goodyear, 305 S. Bullard Ave. The HUB at Goodyear is being developed on a fully speculative basis. The development team has named JLL as the project’s exclusive leasing broker. 2. The Pine-Strawberry Fire District recently celebrated […]
Maricopa Still has Room to Grow
By Rebekah Morris for AZBEX Last week the City of Maricopa hosted their quarterly Commercial Real Estate update with representatives from two key developments available to answer questions from residents and interested parties alike. Nearly 90 people registered for the event, a record high according to Economic Development Director Denyse Airheart. Starting with the long […]
Commercial Real Estate Transactions 03-12-2019
Sales Transactions 1. Cushman & Wakefield completed the $44.5M sale of Lakeside Drive, a 150-unit Class A, luxury rental community at 500 W. 1st Street in Tempe. Lakeside Drive Apartments, LLC, purchased the property from Broadstone Lakeside, LLC, an entity formed by Alliance Residential and Cottonwood Residential. Executive Managing Directors David Fogler and Steven Nicoluzakis of […]
Valerio at Ocotillo Bringing Santa Barbara Luxury
By Sammy Williams for AZBEX Late last month, the City of Chandler voted to approve an amendment to the Downtown Ocotillo Area Plan from commercial to multifamily residential to accommodate a new 32-unit condominium development. Developer HCW LLC of Phoenix requested rezoning with the intent to develop Valerio at Ocotillo, a residential condominium community, on […]
Home Depot Bringing New Urban Design Phx
By Sammy Williams for AZBEX Developer Diversified Realty Services, Inc. of Scottsdale is hoping the remodeling craze in Central Phoenix isn’t slowing down anytime soon. Late last month, they submitted a PUD statement to the City of Phoenix in hopes of building a Home Depot on an 8.72 net acre site on the SWC of […]