Developers to Break Ground on $75 Million Phoenix Mixed-Use Project
Palladium Enterprises, a real estate development firm, will soon break ground on a $75 million mixed-use project in the Phoenix-suburb of Mesa, Ariz. The project, titled The GRID, will feature 14,000 square-feet of office space and an unspecified amount of retail and restaurant space, as well as 196 apartments. The project’s estimated construction timeline is currently unknown.
Colorado Concrete Company Buys Office Space for $6.49 Million
A North Colorado concrete company has recently acquired a new office/flex building in Fort Collins, Colo. Peak Cos., the company is question, purchased the property for $6.49 million from Oakridge innovation LLC. It is currently unknown exactly how the buyer intends to use this building, and it is unknown as to whether or not they will move in themselves.
Wisconsin Building Materials Company to Build 128,000 SF Showroom
Drexel Building Supply Inc., a Wisconsin-based building materials company, has announced plans to construct a large showroom and distribution center in New Berlin, Wis. The new development will comprise a total of 128,000 square-feet of office, storage, and distribution space spread across seven buildings situated on a 92-acre parcel. Construction is set to begin in April 2020 and wrap up in March 2021, although the project’s estimated costs are unknown.
New Orleans School Receives $3 Million for New Performing Arts Center
Isidore Newman School, a New Orleans-based Pre-K-12 school, has announced a gift of $3 million from two patrons in support of the school’s arts program. The money will be used to fund the construction of the school’s new performing arts building. The 5,500 square-foot building will contain rehearsal rooms, an art gallery, and a theater space. The project’s estimated completion date is currently unknown.
Brooklyn Private Equity Firm Buys Miami Office Building for $7.2 Million
Freshwater Group, a Brooklyn-based private equity firm, has paid $7.2 million for an office building in Miami. The six-story, 33,407 square-foot office building is currently 98% occupied, with a majority of the tenants being in the medical and legal fields. The buyer has not indicated any plans to redevelop the site.