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Tempe office/flex business park trades for $10.2 million in investment deal

Posted by   /  July 19, 2017  /  Real Estate  /  No Comments

Real Estate Daily News TEMPE, AZ –  DeMuro Corporate Square, a 7-building business park totaling 88,837 SF at 1505-1575 W. University Dr., Tempe, has sold to a California investment entity for $10.2 million ($115 PSF). Occupancy was reported to be 92%. The transaction closed on June 30. Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead, and Greg Guglielmino represented the […]

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Tax break on apartment complex causes $5.6 million headache for Tempe

Posted by   /  July 17, 2017  /  Real Estate  /  No Comments

By Jerod MacDonald-Evoy | The Republic A tax break that cities use to entice development has led to legal woes in Tempe. Basically, Tempe became the owner of a luxury apartment complex along Tempe Town Lake this year to give the developer, OliverMcMillan, a break on its property taxes. The project, previously known as the Lofts at Hayden Ferry, is now called Salt and is […]

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LMC opens mixed-use community

Posted by   /  July 14, 2017  /  Real Estate  /  No Comments

By Keith Loria | Multi Housing News LMC has opened Nexa, a new mixed-use apartment community in North Tempe, Ariz., consisting of 99 apartment homes and 4,300 square feet of ground-floor retail. “We’re thrilled to be part of the surge of new development in North Tempe, and we believe Nexa is one of the finest new residential […]

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Construction to start on downtown Tempe development with Whole Foods grocery

Posted by   /  July 10, 2017  /  Real Estate  /  No Comments

By Mike Sunnucks | Phoenix Business Journal That long-coveted Whole Foods Market grocery in downtown Tempe is coming to fruition. Construction of a downtown development called The Local at University Drive and Ash Avenue will break ground Tuesday. The development will include a Whole Foods (Nasdaq: WFM). Denver-based Forum Real Estate Group is developing The […]

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Huge new development, with penthouse space, slated on Tempe Town Lake

Posted by   /  June 7, 2017  /  Real Estate  /  No Comments

By Mike Sunnucks | Phoenix Business Journal Los Angeles-based Fenix Development has broken ground on the first phase of a big new development on Tempe Town Lake. Dirt is being moved on the north bank of the Tempe lake for Phase I of The Watermark development. If built-out, the project could total as much as […]

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Getting rid of ‘Animal House’: Frats criticize ASU’s $70M Greek Leadership Village

Posted by   /  April 10, 2017  /  Education, Real Estate  /  No Comments

By Ray Stern | Phoenix New Times Arizona State University’s $70 million Greek Leadership Village in Tempe aims to be nothing like Animal House. Construction on the project began earlier this year on five acres at the southeast corner of Terrace and Rural roads, at the site of the old Cholla dormitory, which was razed […]

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Arizona Coyotes’ plan to build arena at ASU would need support of taxpayers, legislators

Posted by   /  November 15, 2016  /  Government and Politics, Real Estate, Sports  /  No Comments

By Jeff Metcalfe and Craig Harris | The Republic The Arizona Coyotes unveiled a plan Monday to build a new home in Tempe, with the team proposing to pick up half the cost of a new $400 million hockey arena and taxpayers picking up the balance. The proposed deal would make the Coyotes one of […]

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Western Wealth Capital of Canada Buys Multifamily Property Near ASU for $17 Million

Posted by   /  October 4, 2016  /  Real Estate News Briefs  /  No Comments

(Editor’s note: News releases are published unedited, unless they contain factual errors.) PHOENIX (October 3, 2016)  – Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 164-unit Amber Gardens in Tempe for $17 million ($103,000 per unit). Western Wealth Capital now owns 24 properties and 3,998 units in the Phoenix area. The […]

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Alzheimer’s hits home for Tempe mayor and his family

Posted by   /  September 29, 2016  /  Government and Politics, Health Care  /  No Comments

By Shelley Gillespie | East Valley Tribune Tempe Mayor Mark Mitchell had a very personal reason for seeking “Dementia Friendly City” status for the city. His mother Marianne has suffered a 12-year decline, with Alzheimer’s disease progressively robbing her of her memories and functionality. To Mitchell’s family, which has seen Marianne deteriorate, the loss has […]

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Tempe considers Rio Salado retail project

Posted by   /  September 28, 2016  /  Real Estate  /  No Comments

By Roland Murphy for Arizona Builder’s Exchange Last week, the Tempe City Council approved a Planned Area Development proposal to create a restaurant and retail center on 8.4 acres adjacent to Tempe Marketplace. Under the request, developer SJJ Development would build the eight-lot complex at East Rio Salado Parkway and South Smith Road. Lots 1, […]

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