Author: BEX Staff

Sales Transactions 1. Cushman & Wakefield has advised the $109.2M sale of a fully leased 730.8KSF big-box distribution building on more than 46 acres in Goodyear. Lakin Park Building 1A was acquired by BentallGreenOak. The seller was the joint venture of Clarius Partners, LLC and Walton Street Capital. Will Strong, Greer Oliver, and Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller. Mike Haenel and Andy Markham also provided leasing advisory. 2. KKR & Co. Inc. has purchased the two-building, 633.3KSF industrial property 101 at Van Buren in Avondale for $91.8M. The development was recently completed…

Larson Development Group is planning a 240-unit Build-to-Rent development on 20.2 acres in Casa Grande on Burris Road. President and CEO Kirk Larson expects to spend approximately $56M on the development. Planned units at The Element at Casa Grande include one- and two-bedroom duplexes of 800SF and 1,050SF, respectively, and two-story triplex townhomes of between 1,400SF and 1,550SF. The homes will feature synthetic turf backyards and smart home technology. Planned amenities include a 3.5KSF clubhouse with a fitness center, lounge, kitchen and gaming area. Larson has requested a planned area development for the site since the property was originally platted…

A proposal has been submitted to the City of Phoenix to turn 270 acres in Laveen into a master-planned mixed-use development near Loop 202. Gila Foothills would enable industrial, commercial, hotel and housing uses in a multi-phased development. A planned unit development rezoning request was submitted in June. Planned uses include approximately 60 acres of residential, 40 acres of resort uses, 42 acres of commercial and 100-plus acres of employment/industrial. According to documents submitted with the proposal, companies associated with the project include Enterprise Capital, Gila and Salt River Development LLC, RVI Planning & Landscape Architecture, Lokahi Group, Helix Engineering…

Several new and expanded projects have been proposed in Glendale, primarily focused in the area of the Loop 101 freeway. The Glendale Planning Commission was scheduled to review two major new items in its meeting this week. Urban 95 The first project is a master plan known as Urban 95. The proposal seeks to add three acres to an already established planned area development at the SWC of Missouri and 95th avenues. The revisions will bring the total area to almost 35 acres. Original plans for the site called for retail, office, hotel and some residential. The new plan focuses…

The Scottsdale Planning Commission had been scheduled to vote on the Ashler Hills Park Municipal Use Master Site Plan in its Aug. 10 meeting, but questions and comments from nearby residents led to the item being continued to a later date. Voters approved Ashler Hills Park in north Scottsdale as part of a 2019 bond package. Current plans call for a 15-acre park area with pickleball, dog areas, playground, basketball court, a picnic area, walking path and parking spaces. City officials have said the developed three-to-four acres aligns with other Scottsdale neighborhood parks. The residential neighborhood lies north of the…

A preliminary development plan from Dominium Management to build a master-planned project with affordable and senior housing as well as a commercial component finally secured approval for its request from a divided Surprise City Council. Resident opposition – particularly in the form of a group known as Voice of Surprise – had been vocal and fierce. Opponents and Council, however, were left with little recourse once Dominium revised its request from a planned area development to a preliminary development plan that fit the scale imposed by Council in 2008. In presenting the matter to Council, City Manager Bob Wingenroth reminded…

By Roland Murphy for AZBEX The Clayton Companies are proposing a new commercial and residential mixed-use infill development on 1.46 acres at the SEC of 1st Avenue and Buckboard Trail in downtown Scottsdale. The developer has requested a rezoning from Central Business Downtown Overlay to Downtown/Downtown Civic Center Type 2 Downtown Overlay. One of the two parcels in the request is currently used as a 123-space parking lot. The other has “an old and obsolete two-story office building,” according to the narrative submitted earlier this month. The two lots are separated by an alley that will feature prominently in the…

As the first project under its second Opportunity Zone fund, Caliber Companies is pursuing plans for a mixed-use project on 78.6 acres near the Salt River Pima-Maricopa Indian Community Talking Stick Resort and other developments. The company is currently working to close a land lease on the site that would set it as the master developer for The Riverwalk Development. Caliber is gathering feedback from SRPMIC and Scottsdale residents to determine the best mix of uses. Company officials said a likely combination includes entertainment uses on the south portion of the land near Topgolf and a sports use and corporate…

Per a recent RentCafé report, approximately 420,000 new apartments are expected to be constructed across the nation by the end of 2022. Metro Phoenix has taken the sixth spot nationally in terms of new development, with a 90% increase in apartment construction compared to 2021. The report shows that while metro Phoenix saw 8,421 new units in 2021, there are an estimated 16,600 apartments on the way in 2022. Municipal Phoenix will see the majority of the new apartments at approximately 5,009 units. Coming in second place is Scottsdale with 1,866 units, followed by Gilbert at 1,795, Mesa at 1,769,…

A $1B mixed-use development is planned in Scottsdale Airpark on the site of the former CrackerJax amusement park. Plans from owner George Kurtz and his Cracker Jax Land Company LLC include a 223-room hotel, 100KSF of retail, 1,236 residential units, 40KSF of “flex space” and a two-acre park on the 32.3-acre site. A total of 13 buildings are planned. Representatives from project architect Nelsen Partners recently showcased the plan in an open house. While most of the project will be shorter than 90 feet, two of the buildings are planned at 119 feet. In the presentation, Nelsen’s Avalon Knoebel told…