Griffin Capital Announces Construction Completion on a 335-Unit Multifamily Community in Mesa, AZ
Griffin Capital Company, LLC (“Griffin Capital”), a leading private real estate investment manager, together with their joint venture development partner The Opus Group (“Opus”), a privately held national real estate developer, completed construction and commenced leasing of Melody on Main, a 335-unit multifamily development in Mesa, Arizona. Located in Downtown Mesa at the heart of the Main Street Corridor, the surrounding area is experiencing a meaningful economic expansion fueled by new commercial and civic developments. In the fall of 2022, Arizona State University opened its new satellite campus, ASU Media and Immersive eXperience (MIX) Center, one block from the site, which is expected to service over 800 students focused on technology-related production and content creation. The Phoenix metropolitan area is one of the fastest growing markets in the United States as a result of meaningful in-migration and a rapidly expanding job market, which are fueling strong multifamily demand.
The garden-style community offers a mix of studio through three-bedroom units and townhomes and features a variety of tenant amenities, including on-site retail, a resort-style pool, outdoor dining area with grilling stations, 24-hour state-of-the-art fitness center and yoga room, social clubroom with TVs, games and an outdoor patio, creative suite with a large conference room and individual, private co-working spaces, and a pet spa.
“Melody on Main reflects our commitment to creating lively and dynamic communities that enhance the lives of residents while contributing to the economic growth of the communities in which we invest,” said Nick Rosenthal, Co-CEO of Griffin Capital Company. “With its prime location in Downtown Mesa and a range of modern amenities, this development will be additive to the fabric of the Mesa community, and we are thrilled for all the stakeholders that will benefit from its creation. We are incredibly thankful for the hard work of our partners, their employees, the city of Mesa and to our investors for helping to create this wonderful community.”
Griffin Capital has successfully raised over $1.6 billion across its various Qualified Opportunity Zone Funds and currently manages a combined portfolio of 27 multifamily communities in various stages of construction and leasing, totaling over 9,400 units with an estimated total project cost of $3.1 billion.
About Griffin Capital Company
Griffin Capital Company is a leading full-service real estate investment and management company that for nearly three decades has established a reputation for leadership and innovation led by a team of cycle-tested professionals with expertise in acquisitions, investment management, capital markets, financial reporting, legal, development, and construction management. Since 1995 the Firm has owned, managed, sponsored and/or co-sponsored approximately $23 billion in assets1 across a wide range of real estate sectors and investment structures. The Company’s senior executives and employees have co-invested over $300 million in various investment verticals, aligning Griffin Capital’s interest with those of its investors.
- Includes estimated total project costs for assets under construction.
Additional information is available at: www.griffincapital.com.
