Sprouts to anchor shopping center in Mesa’s Eastmark
Construction has begun on Eastmarket at Eastmark, a grocery-anchored shopping center near Ray and Ellsworth roads in Mesa. The 6.6-acre shopping center will be developed by Phoenix-based Common Bond Development Group and anchored by a Sprouts Farmers Market. In total, the development will contain about 45,000 square feet of restaurant and retail space, including the 23,200-square-foot Sprouts store. The developer did not announce any additional tenants planned for the center. “Securing Sprouts at Eastmarket is a…»
Mixed-use project faces backlash over industrial plans linked to potential TSMC expansion
A massive mixed-use master planned community in north Phoenix is facing pushback from residents over an industrial component that could potentially house an expansion of TSMC’s campus. Residents packed a North Gateway Village Planning Committee meeting earlier this month saying they were previously unaware that NorthPark Phoenix would include industrial uses in one of its land use districts, dubbed the Innovation Corridor. “Industrial belongs north of the 303 freeway,” speakers with Stetson Valley Homeowners Association…»
SCOTTSDALE, AZ – Elevest Capital, a privately held real estate investment firm specializing in multifamily assets, announced the closing of Fund 61, completed in partnership with Rise48 Equity through the acquisition of a 154-unit Class B+ apartment community in Mesa, Arizona. The transaction strengthens their presence across the Sunbelt and underscores its commitment to growth in dynamic, high-demand markets. Ideally positioned in a strong B+ submarket, the property benefits from Mesa’s robust population growth, diverse…»
Scottsdale City Council approves another development
Scottsdale keeps growing. At its Sept. 30 meeting, City Council approved a long-planned addition to Scottsdale’s northeast. The approval of a zoning district map amendment paves the way for Ranch Gate, a 32-home subdivision on 40 acres at Ranch Gate Road and N. 128th Street. This is just down the road from the booming, 460-acre Storyrock community of million-dollar-plus homes. The existing Environmentally Sensitive Lands (Rl-130 ESL) zoning would have allowed only 12 lots. The developer successfully pitched a…»
Demolition crews swiftly move in at Milum Textile building site
Just weeks after a downtown Phoenix building finally sold after years of fighting over its historic preservation status, crews are already at the site and ready to start demolition, paving the way for a possible mixed-use redevelopment. Chicago-based investor JRG Capital Partners bought the property, which sits on 1.76 acres and includes multiple buildings, for $8.5 million on Sept. 17 from longtime owner Craig Milum. The city issued demolition permits for the property on Oct. 14 and JRG has started the demo and cleanup process. It has already removed…»