Phoenix
REAL ESTATE
The summer real estate market in Phoenix: Less competition for sellers, buydowns for buyers
PHOENIX — Are you in the market to buy or sell a home?. We’re kicking off this Money Saving Monday with advice on saving in the real estate market. Let’s start by debunking a common myth: The summer slowdown in Phoenix real estate. Contrary to popular belief, the summer months don’t halt the market; they offer unique opportunities.
Phoenix-area homebuilding jumps 57% from 2023's slow pace
Homebuilding across metro Phoenix has jumped from last year’s tepid pace, despite higher interest rates. Permits to build new houses are up almost 57% through May, compared to the same five months in 2023, according to housing research firm RL Brown Reports. Despite higher demand, new house prices in the Phoenix area are basically...
94-unit Build-to-Rent Planned in Scottsdale
MODUS Companies (MODUS Development) has submitted a proposal for a 94-unit single-family Build-to-Rent development in south Scottsdale on Oak Street near 64th Street. Papago Village would provide 46 one-bedroom and 48 two-bedroom units on 10.01 gross acres. According to the project narrative, the development will have a Mid-Century Modern design...
ABI Multifamily Brokers 80-Unit South Phoenix Multifamily Apartment Community for $15.75 Million
– ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $15,750,000 / $196,875 Per Unit / $280 Per SF sale of The Ivy off Central Apartments, an 80-unit multifamily apartment community located in Phoenix, Arizona. The Buyer and Seller were represented by ABI Multifamily's Phoenix-based Institutional Arizona Team - Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick.
Schnitzer Properties breaks ground on Class A multi-tenant industrial property
PHOENIX, (July 2, 2024) – On behalf of Portland-based Schnitzer Properties, JLL has announced the start of construction on Palm Valley Commerce Center, a Class A industrial project designed to serve local entrepreneurs and multinational corporations alike in the Phoenix metropolitan area. Located at Auto Drive and 137th Avenue...
NAI Horizon facilitates $1.275M acquisition of land in Tempe for 62-unit multifamily project
NAI Horizon represented the buyer in the acquisition of parcels of land totaling 40,973 SF in Tempe, Arizona, that will be rezoned for a multifamily project. NAI Horizon’s Jay Mininberg, J.D., represented the Buyer, FJT1 Rental, LLC, of Mesa, Arizona, in the $1.275 million (approximately $31/SF) acquisition of 2422 E. Apache Blvd., 2424 E. Apache Blvd., and 1114 S. Lebanon Lane in Tempe. The parcels total .94 acres.
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