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CREReport | Phoenix for December 1, 2014

CREReport | Phoenix

Commercial Real Estate Report for December 1, 2014

Top Stories from Wednesday, November 26

• Construction Begins on Southern Extension of 933K SF Mixed-Use Rockefeller Group Chandler 101

• Plans Filed for Agave Residential, a 379-Unit Multifamily Project in Scottsdale

• Stockbridge Capital Group Acquires 656K SF Office-Industrial Portfolio for $53.16M

Wood Partners Acquires 4 Acres of Land in Downtown Phoenix; Plans Multifamily Project

CREReport | Phoenix

Baum Development Selected to Develop Hayden Flour Mill in Tempe

The City of Tempe selected Baum Development to redevelop Hayden Flour Mill at SEC Mill Ave & Rio Salado Pkwy in Tempe.

Partnered with Aparium Hotel Group, SmithGroupJJR and Sundt Construction, Baum plans to preserve the historic grain elevator and attached building.

AZ Gilbert Holdings Gets Zoning Approval to Build Mixed-Use Project in Gilbert

The City of Gilbert approved rezoning a vacant section of land located at SE/SEC Gilbert Rd & Warner Rd paving the way for AZ Gilbert Holdings, a subsidiary of Lehman Brothers, to proceed its proposal to develop eight office buildings and a 256-unit multifamily project on the site.

Catclar Investments Plans Office / Retail / Condo Project in North Scottsdale

Proposed Project at Bahai and 92nd St in Scottsdale (Berry Riddell & Rosensteel) Proposed Project (Berry Riddell & Rosensteel)

Once referred to as “Bahia Work Live Play Project,” Catclar Investments LLC is proceeding with plans to develop SoHo Scottsdale, a “small office, home office” project located at SW/SWC 92nd St & Bahia Dr in North Scottsdale.

Editor’s Note: This should not be confused with the campaign to re-brand Old Town Scottsdale as “SoDo.”

Scottsdale Planning Commission recommended the project on Nov. 12. The City Council is scheduled to review the project on Dec. 2.

5th And Hardy LP Acquires 1 Acre of Land in Tempe for $835K

5th And Hardy LP purchased one acre of multifamily land located at NWC Hardy Dr & 5th St in Tempe from Alfred, Lynn and Pamela Brownd for $835,000.

Vestis Group’s Natan Jacobs, Les Litwin and Victoria Miachika brokered the transaction.

Businesses Push for Revitalizing North 32nd Street Corridor

Businesses are proposing to revitalize the corridor along North 32nd Street stretching from North Mountain Preserve to Loop 101 North - a region that suffered as traffic rerouted to SR 51 since the early ‘90s.

Phoenix Business Journal reports that prior to SR 51, North 32nd boasted some 60,000 vehicles on the road per day. In the years after the introduction of the freeway, that number fell to 18,000.

Julian Wright Plans to Open Nanobrewery on Mill Ave

Julian Wright plans to open a nanobrewery, Pedal Haus, at NWC Mill Ave & University Dr in Tempe late 2015.