White Castle to build Tempe location; Planet Fitness opens in Mesa - Phoenix Business Journal

📆 11/13/2022 4:02 PM
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Click through to read about some of the latest real estate deals from across the Phoenix metro. CRE

Los Angeles-based Banyan Residential is partnering with national developer Indianapolis-based Milhaus to develop aThe 15.5-acre parcel is along the Washington Street light rail corridor and marks Banyan's ninth opportunity zone development and fourth deal with Milhaus.

Also planning to build apartments is Tucson-based Holualoa Cos., which kicked off construction for a 129-unit multifamily project in Tempe calledWith a total development cost of $37 million, the community is being built on a 2-acre parcel at 5th Street and Farmer Avenue in Tempe. Amenities will include landscaped pedestrian areas and a pocket park on Farmer Avenue, a fitness center and dog-friendly features and walkable access to light rail, restaurants and other amenities.

Tolleson City Council unanimously approved a site plan for the new project on Nov. 8. The 7-acre site is located at 8505 W. McDowell Road just north of Interstate 10 between 91st and 83rd avenues on a vacant property. Documents submitted to the city also say that the facility will be available in the third quarter of next year and is pre-leasing now through Mike Park of CBRE Group Inc., the Columbus, Ohio-based fast-food chain, is set to break ground on its second location in the Valley.

"Since our inception in 2016, we have been on a smart, steady growth trajectory in Arizona,” said Eivan Shahara, Mint Cannabis co-founder and CEO, in a statement. “We plan to continue to grow and expand our brand. We hope to broaden our footprint by opening additional dispensaries in the state during the next few years.”

The 129,674-square-foot center was 96% leased when it was sold. Tenants include Great Clips, Banner Urgent Care, Native Grill & Wings, Over Easy, and Villa Tuscana – a reception hall for weddings and other large events.

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