Phoenix commercial real estate offers exciting opportunities to invest in mixed-use property. These are ripe for the picking. The local business community and residents are really embracing the concept of merging home, work and play for a more efficient lifestyle. It promotes the feeling of a walk-friendly city, creating a micro-version of hubs like San Francisco. From downtown Tempe to downtown Phoenix, the properties are establishing themselves metro-wide.
The Menlo Group recently had the opportunity of working on such a Phoenix commercial real estate deal. This property is conveniently located near St. Joseph’s medical complex, Phoenix Country Club, the light rail and freeways on the northwest corner of Thomas Road and Third Street. This new Phoenix commercial real estate development, to be called Alta Thomas, will feature luxury multi-family units, which will have a strong impact on commercial real estate in this city. “This area is highly appealing to young professionals who want to be a part of the Phoenix midtown area.”, says Todd Taylor, development director of Wood Partners in Arizona and Nevada.
Menlo’s Stuart Milne adds to this, “The location is ideal for those working in the downtown area, and the access to all that our city has to offer will greatly benefit those living in what will be an amazing residential community.”
Menlo Group’s Stuart Milne and Rich Andrus represented multiple sellers in this deal that positively affects the Phoenix economy. Menlo worked with Wood Partners’ entity WP West Acquisitions, LLC who purchased the 4.18 acres.
The entire Menlo team is proud to have been part of this effort. It was a productive collaboration for all parties involved and a truly representation of what you can expect when partnering with us. At the Menlo Group, we work with you to achieve results. If you have any questions about live-work-play developments, or Phoenix commercial real estate in general, contact us. We are pleased to assist you!