City of Peoria Awards Plaza Companies Negotiating Rights To Critical 14-Acre Commercial Parcel Along Loop 101

The City of Peoria is continuing to push its economic development efforts with a new agreement with Plaza Companies on a critical 14-acre parcel at the Loop 101 and Peoria Road. The Peoria City Council voted last week to grant Plaza Companies exclusive negotiating rights on the city-owned parcel with the goal of creating a new commercial office complex to attract new…

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NAIOP-AZ BOARD OF DIRECTORS ELECTS NEW OFFICERS AND BOARD MEMBERS FOR 2017

The Arizona chapter of NAIOP, the commercial real estate voice for the state, elected its 2017 officers and board members at its annual board meeting held November 1. 2017 NAIOP-AZ officers are Chairman of the Board, Larry Pobuda, Opus Group; Vice Chairman, Matt Mooney, Cousins Properties; Programs Chair, Andrew Cheney, Lee & Associates; and Secretary,…

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Fully Occupied Multifamily Complex Trades in Off Market Transaction

Country Club Greens Apartment Homes, totaling 68 units, closed yesterday for $6,025,000 ($88,603/unit). The building was fully occupied at close of escrow. Christopher Roach, Matthew Roach, and Joseph Dietz of ORION Investment Real Estate negotiated the off market transaction. “The buyers are a father and son team out of Vancouver, Canada. They plan to hold…

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LGE Design Build Completes 60,000 SF Utility Trailer AZ Headquarters

LGE Design Build recently completed Utility Trailer’s 60,000-square-foot Arizona headquarters at the Rados Tolleson Center. Utility Trailer and its 50 employees outgrew their previous facility in Phoenix, near 22nd Avenue and McDowell Road, where the family-owned business has been located since 1953. The company’s new Arizona headquarters, located on 14 acres at 83rd Avenue and…

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Balfour Beatty Construction Selected by Mainstreet to Build New Transitional Care Properties

Mainstreet, the nation’s largest developer of post-acute health care properties, has selected Balfour Beatty Construction to build two new transitional care properties located in Tucson and Chandler, Ariz. With a total project value of $24 million, the properties will provide post-acute care, short-stay rehabilitation and therapy for patients in a service-rich environment. Each of the…

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DMB Selects Cushman & Wakefield to Market One Scottsdale

DMB, in partnership with Macerich, has awarded Cushman & Wakefield the marketing assignment for the nearly 14-acre, mixed-use commercial core of One Scottsdale in Scottsdale, Ariz. Cushman & Wakefield Land Division Executive Managing Director Brent Moser, Senior Vice President Michael Sutton, Associate Brooks Griffith and Retail Division Vice President Brent Mallonee have the sale assignment…

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Online Video Pioneer Brightcove Relocating to SkySong

SkySong, The ASU Scottsdale Innovation Center, will welcome a prominent new tenant to its newest office building. Brightcove, a pioneering force in the world of online video, signed a lease to occupy 13,000 square feet of the first floor of SkySong 4. The company, relocating from Tempe, has nearly 5,000 customers in 70 countries is a leading provider of cloud services for video. It company offers…

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Metro Phoenix Multifamily Rents Rise as Vacancy Drops

Colliers International in Greater Phoenix released its third quarter 2016 Multifamily Statistics, which report that market conditions strengthened in the past three months, decreasing vacancy and pushing rents higher.  This decrease in vacancy occurred during a period when developers brought new units to the market, showing how strong demand is in this Southwest city.  The…

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GILA RIVER INDIAN COMMUNITY AND GOV. STEPHEN LEWIS EXPRESS DISAPPOINTMENT AT FEDERAL JUDGE’S LATEST RULING ON SOUTH MOUNTAIN FREEWAY LAWSUIT APPEAL

The Gila River Indian Community and Gov. Stephen R. Lewis have expressed their deep disappointment at a ruling late last week by U.S. District Judge Diane Humetewa, who rejected the Community’s request for an injunction temporarily halting construction of an extension of the South Mountain/Loop 202 Freeway.   The nearly $2 billion construction project would…

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