Remaking An Abandoned Health Club Into Medical Office And Clinical Space: First, Take Out The Swimming Pool
Scottsdale-based G2 Capital is a turnaround specialist. But its conversion of a facility in Phoenix's Arizona Business Park into medical space for Retinal Consultants of Arizona — both office and clinical — and eventually a surgery center for Spectra Eye Institute was a tricky bit of business for Cawley Architects.
For one thing, medical space requires a highly specialized design, but the 37K SF building at 15401 North 29th Ave. had originally been developed as a large fitness center. Also, after the original owner skedaddled, the two-story concrete building was…
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Self-Storage Slated For Surprise
In the second self-storage deal in as many weeks in greater Phoenix, a Scottsdale-based LLC, 1784 Capital Holdings, acquired 4.8 acres on North Litchfield Road in Surprise for $836K, with plans to develop a high-end self-storage property.
The development will be…
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Unprecedented Enrollment And Demand For Luxe Accommodations Stimulate Student Housing
The student housing asset class had its strongest year on record in 2016, receiving an influx of $10B worth of investment capital, shattering 2015's record $5.8B. The unprecedented dollar volume can be attributed in part to the increasing desire among…
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DBM Ventures Ready To Start Chauncey Lane Mixed-Use Development
DBM Ventures is preparing to break ground on Chauncey Lane, a 53K SF mixed-use project at Scottsdale Road and Chauncey Lane in Scottsdale. Upon completion, the property will include a mix of high-end retailers, restaurants and fitness centers along with…
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Market Tension: Investors Worry Boomer Demand Not Keeping Pace With Senior Housing Supply
Overbuilding remains a major concern for senior housing owners and lenders. Record levels of new supply outpaced demand in the first three months of the year, and the second quarter did not fare much better.
Those headwinds have not deterred capital from seeking a foothold in the saturated industry, however, JLL reports. Studies show 10,000 boomers turn 65 every day. As the second-largest living generation in the U.S. (more than 74 million Americans) continues to age, demand remains strong and the asset a hot addition for investors' portfolios.
These are the major trends stirring in senior housing coming out of spring 2017, according to research from commercial brokerage JLL.
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How CA Ventures Went From Strictly Student Housing To A $7B Global Multi-Sector Firm
CA Ventures has been growing explosively in the last four years, expanding beyond its student housing roots to become a $6.7B global real estate conglomerate that employs more than 200 people and is active in student housing, senior housing, multifamily and office.
The firm is one of the most active in the industry, with 30 projects valued at $2B in development.
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