Construction & Real Estate

Newmark Secures $151M In Financing For 30-Property Industrial Portfolio In Arizona

Via PHOENIX — Newmark has secured $151 million in financing for a 30-property industrial portfolio in Arizona. The portfolio contains more than 4 million square feet of space occupied by more than 1,000 tenants. The 15-year non-recourse loan features a rate below 4 percent. The portfolio is a mix of light industrial / manufacturing buildings with small to medium bay depths. The properties are located in Phoenix, Tempe, Mesa,

Plaza Companies Awarded New Economic Development Zone in Peoria

Via The Peoria City Council voted Tuesday night to enter into a new agreement with Plaza Companies on a significant new development project at the Loop 101 and Peoria Road. Plaza Companies will enter into a long-term ground lease on the 14-acre property, located at the southwest corner of the highly trafficked intersection. Plaza will design, lease and develop the city-owned parcel to create a new commercial office complex and attract new business to the community.   This unique site is one of the

Apache Solar Project Nearly Complete, Will Serve Duncan Valley Co-op Energy Needs

Via The 20 MW Apache Solar Project, just across from AEPCO on Highway 191, near Cochise, is expected to begin providing renewable energy for all six Arizona G&T Cooperative Class A members by mid September. Geoff Oldfather, Arizona G&T Cooperative communications and public relations manager, said member distribution cooperatives are required to meet new renewable energy standards in their respective states of Arizona and California. “Each of the six

Scottsdale-based Clayton Nash Real Estate Expands Into Texas

Via Arizona-based real estate brokerage Clayton Nash Real Estate expands to Texas with a new office in Houston. Clayton Nash Real Estate is a new technology-focused real estate firm offering agents an unprecedented marketing program that includes time saving programs for agents, cutting edge lead generation and sales technology with ongoing sales training and support that puts both real estate agents, homebuyers and sellers ahead of the curve. Houston

Phase 1 Of Colossal ASU Tempe Makeover Begins; 20,000 Jobs Expected

Via The first phase of a project that will fundamentally reshape the east end of the Arizona State University campus and help fund the university’s athletic department is under way. ASU and Oakland, California-based Catellus Development Corp., aim to develop 330 acres of ASU property and ultimately expect to bring about 20,000 jobs and 5,000 residents to the area. The sports facilities district project, dubbed the Novus Innovation Corridor,

4 Most Influential Forces Shaping Arizona

Via Arizona is transforming with the proliferation of walkable, urban, community-oriented spaces. It reflects a focus on placemaking, integrating experiential retail and entertainment options into mixed-use that appeals to both millennials and retiring baby boomers. We caught up with Crel Vogel with Polaris Pacific, who is responsible for sales at Optima Kierland, to learn about the four most prominent forces shaping the local landscape. Downtown Phoenix’s reputation as a burgeoning culinary

Phoenix Apartments

Via Don’t count out the apartment wave just yet. The Phoenix metro area ranked among the top multifamily markets for net leasing in the U.S. in the first quarter, according to new data from CBRE Group (NYSE: CBG). New York – including Newark and Long Island — saw the most apartment absorption (or net leasing) in the first quarter with 6,400 units rented. Phoenix was fourth with 3,300 units

Downtown Phoenix Struggles With Affordable Housing In Midst Of Development

Via “‘No’ is a hard thing to say to people who need help,” Joe Keeper said. As director of real estate development at Native American Connections, Keeper advocates for affordable housing in Phoenix, and he said he is constantly turning people away who don’t fit the requirements but need assistance affording rent in Phoenix. Development in Phoenix is rising, and it is causing even more obstacles for affordable housing

Only 2.5% of Tucson Homes Have recovered Pre-recession Values

Via You can’t blame a homeowner in Fresno, California, for viewing the thriving metropolis to its northwest with both envy and dismay. While San Francisco home values have surged since the recession, Fresno’s housing market is stuck in a rut. Less than 3 percent of homes in the city and its environs have returned to their pre-recession peak, according to a new study from Trulia. Median home values are a teeth-clenching $78,000 below their pre-recession

Via Healthcare Trust of America, Inc. (NYSE: HTA) (the “Company”), the largest dedicated owner and operator of medical office buildings in the United States, announced today that it entered into a definitive agreement to acquire all of the medical office building assets and medical development platform of Duke Realty Corporation (“Duke“) for $2.75 billion in cash, net of credits for development completions (the “Duke Acquisitions”). The transaction will close