Desert Hills
REAL ESTATE
Luxury Queen Creek home with airplane hangar, shooting range listed for nearly $20 million
PHOENIX — Looking for a modern castle in the East Valley? A new Queen Creek home hit the market this week with a price tag of almost $20 million. The 32,000-square-foot estate is in Pegasus Airpark, a gated community with a private taxiway near Signal Butte Road and Hunt Highway.
Existing home sales continue to slide in Arizona, nationwide
Existing U.S. home sales slipped 5.4% to an annualized 3.89 million — the lowest level since December 2023 — after falling 0.7% in May, according to the National Association of Realtors. This is the fourth-straight drop amid high mortgage rates and low affordability, which have undermined home demand,...
New Mixed-use Proposed in Mesa
East Valley landowner and developer The Saia Family have turned in a pre-submittal application to the City of Mesa for a mixed-use project on approximately 20 acres at Elliot and Power roads north of the Avalon Ranch retail center. The project seeks to rezone 7.8 acres for a luxury multifamily...
206 acres of land in Avondale sells for $247 million
In one of the biggest commercial real estate deals of the year, QTS Data Centers acquired 206.08 acres of land in Avondale for $246,866,895, according to Vizzda. The sellers were Terry Klinger and Grand View Dairy. The sale breaks down to $1,198,014.82 per acre. The land is part of the...
JLL Brokers the Successful Sale of Corona Del Sol, a 64-unit Apartment Complex with Value-Add Potential to KDF Communities
JLL Capital Markets announced the $12.6 million sale of Corona Del Sol, a 64-unit, garden-style apartment complex in Phoenix, Arizona. JLL represented the private high-net worth seller and sourced the buyer, KDF Communities. Corona Del Sol is located at 27 E Corona Avenue and benefits from excellent freeway and transit...
Okland Capital, San Tan Development Break Ground on $100 Million Northside at SanTan Village Mixed-Use Project Near Phoenix
Gilbert, Ariz. — Okland Capital and San Tan Development Group have broken ground on Phase I of Northside at SanTan Village, a $100 million mixed-use development in the Phoenix suburb of Gilbert. The first phase will feature 37,245 square feet of retail and restaurant space across six buildings, with completion scheduled for mid-2025.
Homebuilder Breaks Ground on 663 Homesites in San Tan Valley
Tri Pointe Homes Arizona, a recognized leader serving the Phoenix market for over 30 years under the name Maracay®, has announced the groundbreaking of 663 new homesites at Soleo, a premier planned community in San Tan Valley. Tri Pointe Homes’ 252-acres are expected to feature eight model homes with a grand opening anticipated in 2025, furthering Tri Pointe’s strategy to build quality, innovative homes in highly sought-after locations.
Kimley-Horn opens new location at Union office development in Mesa
Full-service commercial real estate firm Lincoln Property Company (Lincoln) has signed Kimley-Horn, one of the nation’s premier planning and design consultants, to a 34,771-square-foot, long-term lease at Union Building One. Building One is the first building completed within the 1.35 million-square-foot, Class A Union office project being developed by Lincoln and Harvard Investments in the Arizona Riverview District in Mesa, Arizona.
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