| Self-Storage Portfolio in Los Angeles and Houston Trades Hands
A well-capitalized, national owner/operator has purchased the Self Storage 1 portfolio encompassing two trophy self storage properties in Los Angeles and Houston. Totaling more than 158k sf, the assets are purpose built, inst...
| Scottsdale Medical Office Building Goes for $200/sf
Dr. Remus Repta (Repta Properties LLC), a board-certified plastic surgeon, purchased Scottsdale Medical Building, a 16.9k sf medical office building in Scottsdale, for $3.4 mil ($201/sf). The property was sold by Phoenix-base...
| Keter Plastic Leases 323k sf of AZ Industrial Space
Keter Plastic, a manufacturer and marketer of resin-based household and garden consumer products, signed two leases for a total of 323.4k sf at Fiesta Tech Center in the Greater Phoenix area.
Keter Plastics leased 1300 N. Fi...
| AZ Industrial Property Trades for $16 Mil
Bay Capital LLC, out of Braintree, MA, closed on an AZ industrial buy, paying $16 mil for Iridium @ Price Road Corridor, a 69.8k sf ($229/sf) building in Chandler. The property was sold by Los Angeles-based Cohen Asset Manage...
| Sterling Organization Pays over $15 Mil for 99k sf Shopping Center in Phoenix
Sterling Organization purchased Union Plaza, a 98.7k sf, grocery-anchored shopping center in Phoenix, for $15.2 mil ($154/sf). The acquisition was funded with a $9.1 mil loan.
Union Plaza, located at 18402 North 19th Ave, ha...
| Tower 16 Capital Partners Buys 540-Unit Res Community in Vegas
San Diego-based Tower 16 Capital Partners, in a joint venture with Henley USA, has acquired Cornerstone Crossing Apartments, a 540-unit multifamily project in northwest Las Vegas, for $49.75 mil ($92k/unit). Tower 16 will ov...
| Scottsdale Sport & Classic Motorcar LLC Buys Showroom Facility in Scottsdale
San Francisco-based Scottsdale Sport & Classic Motorcar LLC purchased a 14.2k sf, freestanding showroom building in Scottsdale, AZ, for $2.25 mil ($158/sf). The building is located at 7671 East Acoma Dr, within the Scottsdale...
| Commercial Real Estate Financing Briefs
CBRE CAPITAL MARKETS - Mark McGovern, Scott Peterson and Brian Cruz with CBRE Capital Markets’ Debt & Structured Finance team have arranged a $23.9 mil loan through CapitalSource for the acquisition of Camelback Arboleda, a 2...
| Phoenix Distribution Facility Sells for $98 Mil
Buckeye Logistics Center, a 1 msf distribution center in Phoenix, was acquired by an unnamed, international buyer for $98.3 mil. The property was sold by a partnership between The Koll Company and Seera Investment Bank B.S.C....
| TruAmerica Multifamily Makes $77 Mil Investment in Two Las Vegas Apartment Communities
TruAmerica Multifamily has acquired two apartment communities totaling 504 units in Las Vegas for $77.2 mil ($153.2k/unit). With these latest acquisitions - Crossing at Green Valley and The Retreat - TruAmerica’s local portf...
| Tucson Res Community Sells for $60/Unit
Mission Creek Apartments, a 200-unit, garden-style multifamily property in Tucson, AZ, sold for $12 mil, or $60k/unit. Built in 1987, Mission Creek Apartments is located at 1451 West Ajo Way, just west of I-19 at the confluen...
| Colorado Resort to Make Capital Improvements after Securing $13.5 Mil in Financing
HFF arranged $13.5 mil in financing for The Sebastian – Vail, a full-service boutique hotel and private residence club located within Vail Village in Vail, CO. Proceeds of the loan will be used for additional capital improve...
| Westland Real Estate Group Acquires Over 1,100 Res Units in Las Vegas
California-based Westland Real Estate Group has purchased a two-property multifamily portfolio totaling 1,129 units in Las Vegas for $60.3 mil ($53.4k/unit) transaction. The properties are Liberty Village Apartments, located ...
| Master-Planned, Mixed-Use AZ Development to Move Forward with $105 Mil in Financing
George Smith Parters (GSP) has arranged $105.5 mil in financing for a portion of The Watermark Tempe, a master-planned, mixed-use ground-up development situated on Tempe Town Lake in Tempe, AZ. The property, located at 430 No...
| AZ Multifamily Community Trades in $62 Mil Deal
The District at Mountain Vista, a 384-unit multifamily community in Mesa, AZ, was acquired by South 105th AZ Partners LLC, an entity formed by Atlanta-based Cortland Partners, in a $62 mil transaction. The asset ws sold by At...
| Fenway Capital Advisors Acquires 179k sf Office Building in Phoenix
Camelback Arboleda, a 178.8k sf, four-story office building in Phoenix’s prestigious Camelback Corridor, sold for $25.3 mil, or $141/sf. The asset, located at 1661 E Camelback Rd, was acquired by Solana Beach, CA-based Fenway...
| Bixby Land Company Spends $60 Mil on Industrial Assets in Phoenix and West Sacramento
Bixby Land Company recently acquired two Class A industrial properties totaling 723k sf for $60.5 mil ($84/sf). The properties are located in Phoenix, AZ and West Sacramento, CA.
In Phoenix, Bixby purchased a 335.5k sf, Clas...
| Ground Lease for TX Chick-fil-A Sells for $732/sf
A SoCal-based exchange investor paid $3.5 mil for the ground lease purchase of a newly developed, freestanding, 4.8k sf property in Dallas occupied by Chick-fil-A. The quick-serve restaurant opened its doors in 2017 and has a...
| Avison Young Launches Project Management Practice Group in Arizona
Avison Young has launched a new project management practice group in Arizona. Effective immediately, George Rubelsky becomes a Senior Project Manager based in the company’s Phoenix office. He will lead and grow the team in Gr...
| Beachwold Residential Buys 130-Unit Apartment Complex in Downtown Fort Worth
Beachwold Residential has acquired 250 Lancaster, a 130-unit apartment complex with ground-floor retail in Downtown Fort Worth. The Class A complex was completed in 2017.
The asset is located near Fort Worth Water Gardens, F...