Commercial Real Estate & Business News December 4, 2019

California Industrial Developer Continues Phoenix-area Building Spree  
Majestic Realty Co. has closed on 30 acres of land near Loop 202 in southwest Phoenix where it plans to build a commerce park totaling more than 500,000 square feet. The site at 55th Avenue and Lower Buckeye Road is near the Loop 202 off-ramp that is scheduled to open this month. Majestic bought the land from Cavco Industries Inc. for…»
Developer Aims for On-Campus Mix of College Students, Retired Baby Boomers
A nonprofit developer and its general contractor are wrapping up a $167 million project aimed at luring retiring baby boomers into senior housing by bringing them back to some of their college roots. Pacific Retirement Services, based in Medford, Oregon, and McCarthy Building Cos. of St. Louis are working with Arizona State University to build the Mirabella at…»
Lucid Motors Electric Vehicle Plant Could Create Nearly 5K Jobs in Arizona
Lucid Motors on Monday marked the start of construction of its electric-car manufacturing plant in Casa Grande – a project expected to lead to 4,800 direct and indirect jobs over the next decade. The first phase of factory construction, representing an investment of more than $300 million, is scheduled for completion in late…»
Capstone Develops New On-Campus Mixed-Use Student Housing Community at Arizona State University Polytechnic Campus
Capstone Development Partners, a national student housing real estate developer specializing in on-campus public-private partnerships (P3), announced a new student housing project under development and in construction in collaboration with Arizona State University on its Polytechnic (ASU Poly) campus. Capstone and its…»
Scottsdale City Council Set to Discuss SouthBridge 2 Project
SouthBridge 2.0, a planned mixed-use development along the Scottsdale canal proposed by Spring Creek Development will go before City Council on Dec. 4 at its evening meeting. The project is proposed to contain nearly 1.7 million gross square feet of new buildings, including up to 570 residential units, 200 hotel rooms, 119,000 square feet of…»