Monthly Archives: May 2016

Source: Colliers International Colliers International released its Greater Phoenix Multifamily Research and Forecast Report for first quarter 2016. The Greater Phoenix multifamily remains on a roll and is forecast to continue the extended run of strong property performance through the rest of this year. Vacancy reached a 20-year low during the first quarter, even as […]

By Mark Cowling for Casa Grande Dispatch The Pinal County seat may soon be home to a new microbrewery and other amenities in a project being developed by a new partnership. The Windmill Winery is partnering with GreenTree Inns Hotel Management Group Inc., the new owner of the former Holiday Inn Express, to develop luxury […]

By Phil Riske for Rose Law Group Reporter Two years behind its original 2014 completion date, the parent company of the PhoenixMart says it has decided to “bypass” a federal funding program and seek other sources of investment. The project in Casa Grande has been lagging because of delays in the federal EB-5 immigrant Visa […]

By Matthew Roy for Arizona Builder’s Exchange The Glendale City Council at its May 24 meeting approved a rezoning and general plan amendment request, which clears the way for development of a new hospital emergency room at the NWC of 83rd Avenue and Camelback Road. The 8,200SF Arizona General Hospital ER will be the newest […]

By Maria Polletta for The Arizona Republic Engineers have revealed the final design for a 272-acre, $174M regional park in Gilbert, the culmination of a five-month process that began with nearly 30 options. The revised plan has less commercial space and fewer sports fields than previous versions, with more precise — though still tentative — […]

Sales Transactions 1. As reported in Business Real Estate Weekly, Bridge Investment Group Partners LLC purchased the 856-unit Saratoga Ridge apartments, 1450-1460 E. Bell Road, Phoenix, for $75.5M from The Variable Annuity Life Insurance Co. Brett Polacheck and Jim Crews of Cushman & Wakefield in Phoenix negotiated the deal. 2. Western Wealth Capital LTD purchased […]

Source: Arizona Department of Transportation Along the 22-mile corridor where the South Mountain Freeway will be built over the next few years, archaeologists are working to gather and recover items and information from the past that may have cultural or historic significance. At one point along the freeway footprint, archaeologists are systematically digging 5-foot-deep trenches […]

By Julie Fairman for Mohave Valley Daily News Tri-state residents interested in the proposed placement of a solar facility on Fort Mojave Tribal land near the Avi Resort & Casino are urged to attend one or both scoping meetings scheduled for next week. If approved, the Fort Mojave Solar Project will use photovoltaic technology, have […]

By Jeff Grant for Daily News-Sun The City Council, in a 4-3 vote, has endorsed a plan to extend Valley Metro’s light-rail network into downtown Glendale via a five-mile route supporters say will draw economic development while detractors say it ignores less-disruptive options to mainly small businesses and other entities in that area. The proposal, […]

By Peter Madrid for Arizona Builder’s Exchange The City of Glendale is awaiting the second submittal for its design review process with architecture firm Landmark Design for MorningStar of Glendale, a proposed Class A, independent and assisted living and memory care community at 6735 W. Golden Lane. Scottsdale developer N-Shea Group LLC has applied to […]