Meritage Homes (NYSE: MTH) has paid close to $18 million for 224 acres in Surprise at the Marley Park development, according to Business Real Estate Weekly of Arizona. BREW also reports Meritage could build 950 homes at Marley Park which is located at Cactus Road and the Loop 303.
Scottsdale-based DMB Associates — the master developer at the Surprise project — sold the land to Meritage.
Commercial real estate investors priced out of major U.S. markets have expanded their scope to secondary and tertiary markets to find properties yielding more generous returns, a trend typical of late-inning property cycles. But the robust demand for real estate and the current cycle's longevity set this growth period apart from past ones and suggest that smaller markets will continue to reap investment for some time.
Walmart's new store in Metrocenter opens today. The 148,000-square-foot Walmart Supercenter is the first step in Carlyle Development Group's plans to bring life back to the mall in west Phoenix, which was once the largest shopping mall in the western U.S. when it first opened in 1973. “Opening the doors to this Walmart Supercenter and seeing the aisles fill with shoppers is so gratifying for all of us who’ve worked to bring this day to fruition,” said Paula Ginnett...
15,878 Units Under Construction
In addition to the 15,878 units currently under construction, there are 13,415 planned and 12,620 units noted as Prospective. That's a total of 41,913 units.
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Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.
