Sunbelt Building Apartments, Retail Near Turf Paradise
Sunbelt Investment Holdings (SIHI) is moving ahead on apartments and an Aldi grocery store on Arizona State Land it secured in 2018, across from Turf Paradise.
The Phoenix Business Journal reports that Sunbelt has already delivered a 101,000-square-foot industrial flex office building (photo) on the 90 acres and plans to add six more industrial buildings, an apartment project and retail. The industrial buildings will range from 67,200 to 230,400 square feet.
Sunbelt is now building a 363-unit apartment complex that will include one-, two- and three-bedroom units, as well as townhomes, ranging from 737 to 1,802 square feet on 18 acres at the southwest corner of 19th Avenue and Phelps Road. The first units are expected to be completed toward the end of next year.
Aldi is planning to build a store after acquiring 2.37 acres at the site. Sunbelt has two shovel-ready retail and restaurant pads adjacent to Aldi.
CBRE’s Mark and Luke Krison are handling marketing and leasing for those pads.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout