New to Market Archives

New to Market: January, February 2015

The Enclave at Borgata Developer: Antera Development General contractor: Wespac Architect: Davis Location: 6166 N. Scottsdale Rd., Scottsdale, Ariz. Size: 90 units; 4.77 acres Start/Completion: 2Q 2015 to 4Q 2016 The Enclave at Borgata includes 90 luxury condominium residences, featuring soft contemporary design and resort-like amenities, all within walking distance to many convenient amenities. Floor… Read More →

Sagewood completes second phase of Casitas

Sagewood, a Life Care Services community featuring resort-like amenities and health care services for senior living, has completed construction on its second phase of casitas. A recovering housing market and strong community sales sparked the second phase of detached casitas, a duplex home option for seniors living at Sagewood. The stylish two-bedroom, den and two-and-a-half… Read More →

Project News Jan/Feb 2015

Esplanade rendering, courtesy of CBRE

➤ TIME AFTER TIME The historic Hayden House in Tempe (built between 1871 and 1873) was the birth place of Arizona Rep. and Sen. Carl Hayden in 1877. Over the years, it was converted to a boarding house and eventually a restaurant known as Monti’s La Casa Vieja. The 2.51-acre property, purchased by Hayden House… Read More →

Smithfield Properties opens @51 in Phoenix

Central Phoenix just got a new addition to its housing life with the opening of the new, ultra-hip @51 apartment community, a project brought to the Valley by Smithfield Properties, Chicago-based developer of high-end residences and adaptive reuse projects. Designed by San Francisco-based Berkelhamer Architects, @51 is a contemporary residence set between the Biltmore area and midtown Phoenix.… Read More →

Plexus Worldwide breaks ground on national HQ

Plexus Worldwide, a leading direct-marketing weight-loss and health-supplement seller that was recently named #8 on the 2014 Inc. 5000 list of fastest growing companies, announced it will break ground on a 70KSF national headquarters office building at the MainSpring Capital project at Pima Center on March 30 at noon. The company recently moved its warehouse… Read More →

Chicago firm acquires Glendale oil distribution center

Osprey Capital, LLC, a Chicago-based private equity firm, announced the acquisition of the Chevron Oil distribution center for the Phoenix market. The property includes an office, warehouse and tank farm. The acquisition is a part of the growth initiative for Orange Line Oil, a leading oil distribution company that Osprey also owns. Orange Line is expected… Read More →

Apartment community in Phoenix sells for $525,000

Cooper, Cardinal and Company LLC, a boutique multi-family investment brokerage firm with headquarters in Phoenix, Arizona, represented the Seller in the sale of McLellan Apartments, an 8-unit turn-key multi-family community located in Phoenix, Arizona. The sale price of $525,000 equates to $65,625 per unit or $93.21 per square foot. Jack A. Cardinal, a Managing Director… Read More →

Ground breaks on adaptive reuse project The Colony

TheColony-Both-ViewC-02-26-15

Western Vertical Holdings, a company formed by Bob Agahi and David Sellers, has begun construction on Phase 1 of The Colony, an adaptive re-use project located on 7th Street just north of Missouri Avenue in Phoenix.  The Herb Box, innovative world cuisine with locations in Old Town Scottsdale and North Scottsdale; Stock & Stable, an… Read More →

Leslie’s Poolmart to open new storefront on Indian School

Leslie's Poolmart rendering, courtesy of Newmark Grubb Knight Frank

Newmark Grubb Knight Frank (NGKF) announced the opening of a new retail store for Leslie’s Poolmart, Inc. (Leslie’s) at 2005 E. Indian School Road. The nation’s leading retailer of swimming pool supplies and related products leased 4,500 square feet of a new 6,500 square foot retail building developed by DM Ventures I, LLC. The new… Read More →

Northern Trust to expand at Discovery Business Campus

Northern Trust at Discovery Business Campus, rendering credit to DAVIS

Seeking to meet long-term global growth needs and expected demand for services, Northern Trust announced plans to expand in Arizona by opening a new operating center in Tempe. The center – expected to open in mid-2015 and grow to 1,000 full-time employees over the next three years – will provide multiple financial business and banking… Read More →

Tucson Airport to upgrade terminal later this year

tucson airport

The Tucson Airport Authority recently selected Sundt Construction, Inc. as the construction manager at risk for a terminal upgrade project expected to begin in late 2015. The project’s construction cost is budgeted at $18 million to $23 million. The Tucson International Airport terminal optimization program, which is Sundt’s third major venture for the airport since… Read More →

Tom Jones Ford Dealership coming to Buckeye

Tom Jones Ford rendering, courtesy of SSB

Tom Jones Ford’s I-10 and Watson location will be a 31KSF sales and repair facility completed in May by Sun State Builders (SSB).  The new Ford facility was a design-build partnership between SSB and Tom Jones Ford, with Winton Architects, Inc. serving as the project architect.  The dealership will include interactive cameras for viewing the… Read More →

Wood Partners now leasing at Alta Scottsdale

Wood Partners - Alta Scottsdale Clubhouse
March 11, 2015 by in AZRE Magazine | Featured | Multi-Family

Wood Partners, LLC announced today the official opening of Alta Scottsdale, a $38 million luxury apartment complex with 218 units located one mile from downtown Scottsdale. The property is already 25 percent full after two months of pre-leasing. “The apartment homes at Alta Scottsdale, with avant-garde features within practical, comfortable spaces, have proven to be… Read More →

NexMetro will build leased-home neighborhood in Chandler

lease

Phoenix-headquartered NexMetro Communities, America’s builder of next-generation leased–home neighborhoods, announces the purchase of 15 acres at the northeast corner of Warner Road and Grace Boulevard, just west of Arizona Avenue, in Chandler, Arizona, where it plans to develop 194 homes. The development will feature one, two, and three bedroom floorplans and continues the developer’s charter… Read More →