Bridge Investment Group of Salt Lake City has purchased the Verona Park apartment community at 1666 S. Extension Rd. in Mesa for $43,750,000.00. The Utah investor plans to complete modernization of the 304-unit development, which is located in a popular infill area.
Phoenix, Ariz. – The Laguna Village apartment community at 102 Palomino Dr. in Chandler has been sold to a Utah based investor for $70,250,000.00. The buyer intends to complete modernization of the 460-unit property and increase the development’s value within a submarket that has recently experienced strong population growth.
“This property is ideally suited for upgrades and re-positioning,” says Cindy Cooke senior executive vice president of Colliers International in Arizona. “Laguna Village is located in Chandler which has seen some of the strongest employment growth in the Valley. The area has also experienced tremendous population growth and Laguna Village is surrounded by a very limited supply of rental competition.
Insurer Nationwide is paying $83 million to buy state land in north Scottsdale, where it plans to open a regional headquarters that could bring thousands of jobs to the area.
Nationwide Mutual Insurance Co. was the top bidder at a Wednesday auction for 134 acres on the northwest corner of Hayden Road and the Loop 101, the Arizona State Land Department said.
The site is part of a bigger 1,000-acre state land site, where development to bring 5,500 jobs is on the drawing board.
Arizona Isotope Science Research Corp. is preparing to begin construction on a facility in Goodyear to manufacture isotopes that will allow medical professionals to clearly see abnormal blood flow in patients with cardiovascular conditions and cancer.
The company will import a cyclotron, which is a particle accelerator that will generate a consistent supply of these isotopes, from Belgium in October. The facility will contain over 83,000 square feet over two phases. Brooksby said he anticipates it will cost over $50 million to build.
Tech giant Intel Corp. has a new $500 million bond approved through Chandler’s Industrial Development Authority for its future high-volume semiconductor factory.
Fab 42 is expected to be ready by 2021 or 2022 and is planned to create 3,000 high-wage jobs for process engineers, equipment technicians and facilities support engineers and technicians.
Fujifilm has started construction on an expansion of its facility in Mesa, which will be used for the production of cutting-edge semiconductor materials.
The expansion is part of 10 billion yen (about $88 million) the company expects to spend on facilities in Mesa and Rhode Island. The company declined to give a breakdown of how much would be spent at individual facilities when asked by the Business Journal in December.
The Mesa site expansion is anticipated to take about 18 months and will comprise approximately 85,000 square feet of additional space in five new buildings. The move significantly expands manufacturing, warehousing, research and development laboratory and office space.
Preparing to open its second 150,000-square-foot building two months ahead of schedule, Freedom Financial Network plans to hire another 1,000 employees this year.
The San Mateo, California-based debt relief provider has settled $10 billion in debt on behalf of customers, creating the need for 1,000 more employees at its Tempe operations, said Linda Luman, senior vice president of human resources for Freedom Financial.
The proliferation of retail and rooftops on Tucson’s southeast side has prompted the development of a new hospital.
Northwest Healthcare has announced a new 70-bed hospital and related services on the southwest corner of Old Spanish Trail and Houghton Road, bringing with it nearly 600 jobs.
Among the services the 70-bed hospital will have are an emergency room, labor and delivery services, orthopedics and cardiology.
In early December, the Pima County Board of Supervisors approved a $9.6 million funding increase for an expansion of Kino Sports Complex, adding 145 acres south of the existing 155-acre complex.
Construction for the first phase of development has already begun and will include facilities for 12 natural grass, sand-based multiuse fields, parking and an entrance from Benson Highway. The first phase also includes 20 pickleball courts and related infrastructure, including concessions, lockers and an area for players and vendors.
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