Phoenix

Progressive Leasing, a Utah-based financial services vendor for retailers and merchants alike, will soon open its doors in Glendale. CBRE’s regional office in Phoenix just finished negotiating a 20,000-square-foot lease for the company at the Talavi Corporate Center on West Talavi Boulevard.

International real estate investment, development and management firm Hines did it again! Its ever expanding list of achievements and awards grew even more impressive as the company recently received four prestigious awards from the Building Owners and Managers Association (BOMA), during their 2014 TOBY (The Outstanding Building of the Year) event.

Arizona State University has been celebrating seeing as it recently broke ground for a new, $129 million law school building. The project encompasses 280,000 square feet of space, 18 classrooms, a large lecture hall for undergraduate education and two levels of underground parking. In addition, the law school will feature retail space on the 1st floor and additional space for the ASU Alumni Law Group, two think tanks and various centers with cross-disciplinary focus.

Houston-based Whitestone REIT has recently expanded its footprint in Phoenix through the $47.9 million acquisition of the Fulton Ranch Towne Center and The Promenade at Fulton Ranch. The two assets are part of the Fulton Ranch, a 520-acre, master-planned community in Chandler.

The Chandler City Council recently greenlit a Planned Area Development (PAD) zoning request and approved the plan for the development of Chandler Airport Center, a three-building industrial park in Chandler. The industrial project will be developed by Meritex Chandler and Tempe-based Metro Commercial Properties. The latter will also provide management services for the three units. Leasing will be handled by Lee & Associates Principals Chris McClurg and Ken McQueen.

BKM Capital Partners, a California-based collaborative investment firm, has recently acquired a three-property office portfolio for $42.8 million. The portfolio comprises the Black Canyon Business Park in Phoenix; the Hayden Island Business Park in Portland; and the Patrick Commerce Center in Las Vegas.

Hines recently closed on a 25.5-acre site at the northwest corner of the Loop 101 and Loop 202 Interchange and in the vicinity of the Chandler Fashion Center. The company has been planning to develop there a project called Chandler Viridian for more than two years.

Arizona State University has enlisted Catellus Development Corporation as master developer for its ASU Athletic Facilities District, a mixed-use, 330-acre development. The district, which is envisioned to be a model for urban neighborhood design and sustainability, will be located at the northeast end of ASU’s Tempe campus, which neighbors the university, downtown Tempe and major collegiate and amateur sports venues.

OliverMcMillan, a boutique real estate developer, recently made public plans for the development of SALT, a four-story, 265-unit, Class A apartment community in Tempe. The project is located on a 3.7-acre tract in the Hayden Ferry Lakeside master planned community, which includes residential, hospitality and office developments.