TBBG Investments breaks ground on 132-unit BTR community
In Dec., TBBG Investments announced the groundbreaking of a 132-unit build-to-rent townhome community at 35th Avenue and Southern Avenue in South Phoenix, in partnership with Titan Development. TBBG acquired the 7.8-acre site for approximately $3.8 million more than two years ago with Titan, strategically positioning the project to deliver into a tightening supply environment. The community will feature two-story townhomes with attached garages and private…»
Institutional Money Targets Small-Bay Industrial But Margins Tighten
Institutional capital is pouring into small-bay industrial, but the real edge is shifting away from buying power toward operational discipline and deal access. The sector, which accounts for more than half of US industrial inventory yet receives less than a quarter of new development, has become increasingly competitive as investors chase a limited pool of assets. That imbalance is pushing pricing higher and compressing margins, forcing buyers to rethink how they generate…»
Booze-infused ice cream chain expands ‘barlours’ concept across country
An ice cream chain known for its boozy dessert offerings is growing its brand at brick-and-mortar locations across the United States. Tipsy Scoop, a company whose flagship bar-ice cream parlour, or barlour, is in New York City, is set to open a location next month at 119 S 18th St. in Philadelphia’s Rittenhouse Square neighborhood and this summer at 506 N. Bishop Ave. in Dallas. For its “City of Brotherly Love” location, Tipsy Scoop is taking about 300 square feet — the…»
Blackstone sells Glendale apartments for $101M, far below 2021 purchase price
After paying $123.6 million for a 412-unit Glendale apartment community in July 2021, real estate giant Blackstone has sold it for $101.35 million — about 18% less than what the real estate giant paid for it. Closing on April 23, Blackstone, in care of Chicago-based LivCor, sold Arrowhead Summit to an entity tracing to Santa, Barbara, California-based NALS Apartment Homes, according to Tempe-based Vizzda LLC real estate database. Asher Gunter, Matt Peach and Austin Groen of CBRE…»
Abandoned North Phoenix project gets new life as $190 million sports complex
A 250,000-square-foot, nearly $190 million multi‑sport complex in North Phoenix is back on track, fulfilling the dream of SSS Partners CEO Shubham Pandey — and his neighbors. Fire ‘N Ice Arena, a nearby hotel and SSS Academy, its operator, will sit on 17.5 acres at 2727 W. Bronco Butte Trail — near the I-17 and Sonoran Desert Drive, adjacent to TSMC. Pandey said the hotel, which he called a Hilton, will open within two months. A Hilton spokesperson said, however, “Hilton is committed to…»