Author: BEX Staff

By BEX Staff for AZBEX The Mesa Design Review Board held a discussion session Dec. 12 to consider plans for Meridian Gardens, a 72-unit multifamily development planned on five acres at the NEC of Southern Avenue and Meridian Road. Rezoning for the property has already been approved by Mesa City Council. The project narrative accompanying the rezoning request noted, “The property has sat undeveloped for well over 30 years, aggregating trash, debris, transients, as well as nuisance vegetation. Development of this property will not only be a tremendous boost to the character of the area, but also will make the…

By BEX Staff for AZBEX SimonCRE has closed on 44 acres of land for the upcoming development of Asante Trails, a master-planned development that SimonCRE says “will provide a major mixed-use project to the growing community.” The developer’s announcement said, “The land, which has sat vacant since being purchased in 2007 by Kimco Realty, was originally intended for a large-scale power center of more than 90-acres during the height of their popularity. As other major developments, such as Village at Prasada, have been built up, the area and its usage have been reevaluated.” Local news outlets reported an entity affiliated…

By Roland Murphy for AZBEX On Dec. 21, the Surprise Planning and Zoning Commission is scheduled to hear a request to rezone approximately 12 acres at the NEC of Reems Road and Tierra Buena Lane for development of a 168-unit mixed-service senior residential community. Gold Stream Development has requested a zoning change from Neighborhood Commercial with Planned Unit Development Overlay and Rural Residential to Residential High Density. The company has also requested release from a deed restriction covering one portion of the property. The Pointe at Surprise Senior Living Community would combine five existing parcels into one property for purposes…

The Glendale City Council discussed a new master plan design concept for Thunderbird Conservation Park during a Dec. 12 work session. Plans include possible upgrades to the park’s three trailheads and entrances off 59th, 67th and 55th avenues and Pinnacle Peak Road. The improvements are estimated at $20.3M. The fiscal year 2024 budget has $4.9M allocated for upgrade design. Future funding sources will have to be identified before a timeline can be established, although $6M has been identified for 2029-2033. That amount will have to be adjusted, according to Assistant City Manager Vicki Rios. Councilmembers in attendance praised the new…

The Gilbert Town Council has approved changes to plans for the Trax at Cooley Station multifamily development at the SWC of Williams Field Road and Verde Drive. While the revisions will not add units or density to the 568-unit, 22.73-acre site, they will affect building heights and setbacks. The updated plans now call for two buildings of up to five stories and 69 feet total height, with 10-foot building and landscape setbacks at the eastern boundary. Four stories at 56 feet, a building setback of 20 feet and a landscape setback of 15 feet were allowed under the original approval.…

Giving Back 1. Now in its 17th year, SRP Solar for Nonprofits has selected Junior Achievement of Arizona as the latest Valley nonprofit to receive a free solar-covered parking structure. The shaded parking structure will provide clean energy to the organization, help lower overall carbon emissions and reduce monthly energy costs. The solar parking structure will be installed at JA’s Tempe campus. The facility annually serves more than 20,000 students and is also visited by thousands of volunteers, teachers and guests. 2. Valley Real Estate entrepreneur Michael Pollack and partner A New Leaf are teaming up to give 20 Valley…

Sales Transactions 1. Patrick Burch of ABI Multifamily represented the seller in a $7.65M, 9.81-acre land deal at 29th Avenue and Dove Valley Road in north Phoenix. Neither the buyer nor seller were disclosed. 2. Jeffrey Garza Walker of NAI Horizon negotiated the $7.13M sale of a 120KSF retail building at 7611 W. Thomas Road in Phoenix, representing buyer Club Capri Real Estate, LLC. The seller, Seritage SRC Finance, LLC, was represented by Trent Steeves with CBRE. 3. CBRE’s Joe Compagno and Benjamin Farthing negotiated on behalf of the buyer, The Shipp Family, of former Salty’s for $3.65M in Old…

By The Dinerstein Companies The Dinerstein Companies announced their newest addition to their Atlas branded properties—Atlas Kierland. TDC is developing high end properties under its Atlas brand all over the country. Located at 7007 E. Marilyn Road near the border between Phoenix and Scottsdale, Atlas Kierland is positioned adjacent to the Kierland Commons, a popular shopping mall and lifestyle center, the Westin Kierland Resort & Spa, and the TPC Scottsdale golf destination. Atlas Kierland, a five-story wrap building, will comprise 261 units offering a variety of one-, two-, and three-bedroom floor plans ranging from 809SF to 1,456SF. Residences will showcase…

By Urban Land Institute Arizona Reimagining office properties. A perspective on parking. Housing affordability and homelessness. Powering Arizona’s future. The industrial market. Those are just a few of the deep-dive topics to be discussed as ULI Arizona presents its 19th Annual Trends Day on March 5 at the JW Marriott Desert Ridge Resort & Spa. Trends Day brings together more than 30 top industry experts to discuss the most current state and national real estate trends. ULI Arizona’s Trends Day is recognized as the third-largest ULI program globally. Trends Day 2024 kicks off with the annual economic outlook, delivered this…

By Roland Murphy for AZBEX With the first phases of its Data Center Campus—also known as “AZ1”—under construction at 45 S. Bullard Ave. in Goodyear, Vantage Data Centers is proposing its next development in the area. Project representative law firm Quarles & Brady LLP has submitted a rezoning request for 14 acres at the SEC of Bullard and Van Buren Street that would allow for development of a two-story 451.6KSF building dedicated to data center and associated uses. The new site lies directly north of the AZ1 development. The proposal requests rezoning from General Commercial to Light Industrial. The current…