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CREReport | Phoenix for October 13, 2014

CREReport | Phoenix

Commercial Real Estate Report for October 13, 2014

Envy Scottsdale, 89-Unit Multifamily Property in Old Town Scottsdale, Ramping Up Activity

There are several signs indicating Deco Communities is ready to ramp up activity on their project, Envy Scottsdale - a $37M, 89-unit for-sale condo project being developed in Old Town Scottsdale south of 75th St & Camelback Rd. Scheduled delivery: 2016.

@EnvyScottsdale is waking up on Twitter. One tweet teases, “Did you know a celebrity fitness trainer will design our 4,000 sf, state-of-the-art #gym.” At the end of August 2014, Deco submitted updated plans to the City of Scottsdale for approval. The website devoted to the property also added pricing, a link for VIP access and mention that they will begin taking reservations Fall 2014.

Digging a little deeper, I also found Caswill Equity Group listed the project as one they are involved with on their website.

I’m certain we’ll see more news soon. For your convenience, I’ve consolidated all the different links and references on

CREReport | Phoenix

Smith Partners Selected to Build Phoenix Central Station, 475-Unit Multifamily Project Planned in Downtown Phoenix

The City of Phoenix selected Smith Partners LLC to build Phoenix Central Station, an $82M project planned at NWC Central Ave & Van Buren St in Downtown Phoenix.

The project is expected to include 475 apartments, 30,000 square-feet of commercial space and a dog park. Construction is set to begin August 2015 with a 2017 delivery date.

Goldsol Announces Plans to Build Nanotechnology Development & Production Facility in Phoenix

Goldsol Inc. announced that the company plans to develop a commercial gold and silver nanotechnology development and production facility in Phoenix.

Excerpt: “We intend to fill that need by building a facility capable of producing relatively small quantities of product with the price, stability and consistency needed for commercialization.”

No other details were immediately available concerning location or timing.

AICI Acquires 77K SF Eastpoint Business Center in East Valley for $6.5M

AICI purchased Eastpoint Business Center, a 77,303 square-foot office property at NE/NEC Arizona Ave & Elliot Rd in Chandler, from Dalfen America Corp. for $6.5M.

Cassidy Turley’s Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan represented the seller, Dalfen America Corp.

Marbella Ranch Acquires +/-352 Acres of Land in West Valley for $11.7M

Marbella Ranch Limited Partnership purchased +/-352 acres of land at SWC El Mirage Rd & Northern Ave (Maricopa County) from El Paso Natural Gas Company, LLC for $11.7M.

Cassidy Turley’s Brent Moser, Gary Anderson, Mike Sutton and Brooks Griffith negotiated the transaction.

Trackside Lofts Acquires 7.5 Acres of Land in East Valley for $1.6M

Trackside Lofts LLC purchased 7.545 acres of land near the NW/NWC Gilbert Rd & Elliot Rd in Gilbert from IRG Gilbert LLC for $1.55M.

Tracside Lofts plans to develop a 164-unit multifamily project at the location.

TASER International Expands to Pinnacle in Perimeter Center in North Scottsdale

The Coppola-Cheney Group of Lee & Associates announced TASER International expanded “to the beautiful Pinnacle in Perimeter Center at 17851 N. 85th St. in Scottsdale.” (NW/NWC Loop 101 & Princess Dr in North Scottsdale)

W.P. Carey School of Business Survey: 100% Agree AZ CRE Improving

Excerpt: “A full 100 percent of the real estate brokers participating in a quarterly survey by the W. P. Carey School of Business at Arizona State University indicate they feel “optimistic,” and 84 percent believe the market is on an upswing.”


ASU Commercial Brokers Forum Survey: Q3 2014 Results

(PDF) Here’s the link to the results of ASU’s 3rd Quarter 2014 Commercial Broker Survey. The 15-page document provides a break down of the questions and the responses.


Center for Autism and Related Disorders Opening Two Locations in Greater Phoenix Area

Center for Autism and Related Disorders (CARD) announced that the company has opened two new treatment centers in the Valley.

• Phoenix - 2400 W Dunlap Ave

• Chandler - 290 S Alma School Rd

Westwood Professional Services Relocates to Kierland Office Park

Westwood Professional Services Inc. announced that the company has relocated to the Kierland Office Park at SWC Kierland Blvd & Greenway Pkwy in North Scottsdale. (Formerly located at Corporate Center at Kierland.)