| Trio of Single-Tenant Properties Sold for Just Under $9 Mil
Three single-tenant NNN properties in Arizona have sold for a total of $8.878 mil this past week. The three properties, Wilhelm Automotive, Big O Tires and ARCO, total 14.8k sf and were 100% occupied at the time of sale.
| CED Greentech Inks Lease for 67k sf in Phoenix
CED Greentech, a division of Consolidated Electrical Distributors, signed a seven-year, $4.1 mil lease for 67.2k sf of Class A, light industrial space in Phoenix. The property, located at 4535 E. Elwood St, offers ample loadi...
| Regal Acquisitions Buys Las Vegas Retail Center for $59 Mil
Silver City Plaza, a 41.6k sf retail center on the northern end of the Las Vegas Strip, was purchased by Regal Acquisitions for $59.25 mil. The complex, which was sold by California-based PASSCO Companies LLC, was listed for ...
| Curry Supply Company Buys 55k sf Flex Building in Gilbert, AZ
Curry Supply Company, out of Martinsburg, PA, has acquired a 55.4k sf flex industrial/office building in Gilbert, AZ. Curry Supply acquired the property from Silent-Aire of Edmonton, Alberta, Canada.
Situated on 3.16 acres ...
| Kennedy Wilson’s Fund VI Spends $171 Mil on Two Year-End Acquisitions
Kennedy Wilson Fund VI (“Fund VI”), a commingled fund managed by Kennedy Wilson, has closed on two major acquisitions in deals totaling $171 mil. The purchases are for assets in Colorado and Washington.
In the larger buy, Fu...
| Tower 16 Capital Partners and HG Capital Pay $65k/Unit for Phoenix Res Property
San Diego-based Tower 16 Capital Partners, in partnership with HG Capital, has acquired Lilly Garden Apartments, a 180-unit multifamily project in Phoenix. The property was acquired on an off-market basis from a private selle...
| Susquehanna Holdings Ltd Spends $90 Mil on AZ Class A Office Asset
Susquehanna Holdings Ltd paid $90 mil for Grand 1, a 219.2k sf ($410/sf), Class A office building within Papago Park Center in Tempe, AZ. The four-story building, which includes an adjacent four-story garage, was sold by Linc...
| Phoenix Office Building Purchased for $150/sf
A 35.3k sf, office property in central Phoenix’ Midtown market has sold for $5.3 mil ($150/sf). The property is located at 702 E. Osborn Rd, on the northeast corner of Osborn and 7th St.
Constructed in 1984, the two-story bu...
| CBRE Global Investors Fund Buys 383k sf Industrial Asset in Phoenix
A fund sponsored by CBRE Global Investors has acquired a 393.5k sf industrial, cross-dock facility in Phoenix. Located at 3333 South 7th St, the property is in the Airport submarket, which has a tight 8.3% availability rate a...
| Newly Constructed AZ Res Community Trades for $96 Mil
Alta Drinkwater, a 277-unitmultifamily community in downtown Scottsdale, was acquired by Starwood Real Estate Income Trust Inc ("SREIT"), a nontraded REIT managed by Starwood Capital Group, for $96.15 mil ($347k/unit). The pr...
| Kennedy Wilson Boosts Multifamily Portfolio by over 1,000 Units
Kennedy Wilson acquired five multifamily properties totaling 1008 units in an off-market transaction with a total price of $342 mil ($339k/unit). The assets were acquired by various investment vehicles managed by Kennedy Wils...
| Phoenix Res Community Trades for $31 Mil
Revival Biltmore, a 258-unit apartment community in Phoenix, sold for $31.25 mil, or $121k/unit, in an all-cash transaction.
Units at Revival Biltmore include efficiency, studio, one-bedroom and two-bedroom plans. The apartm...
| Sprouts Farmers Market-Anchored Center in Scottsdale, AZ Trades
The Shops at Gainey Village, a 138.5k sf, Sprouts Farmers Market-anchored urban village in Scottsdale, AZ, was acquired by an entity formed by Global Retail Investors. It was sold by Gainey Village Retail Center LLC (an entit...
| Work Started on Spec Scottsdale Office Project
Trammell Crow Company (TCC) Phoenix has started the construction of Axis Raintree, a 175k sf, Class A speculative office development in Scottsdale. Construction of the three-story building and structured parking garage will b...
| AZ Showroom Property Trades in $3 Mil Deal
A 16.5k sf, one of a kind, automotive showroom in Scottsdale, AZ sold for $3 mil. The property, located at 16066 N. 77th St in the Scottsdale/Kierland area, is currently configured as a single-tenant use and was vacant at the...
| Hines to Break Ground on Luxury Multifamily Development in Phoenix
Hines will break ground on Adeline, a new downtown Phoenix luxury multifamily complex, next month, in January 2020. The development represents the firm’s first multifamily property in the Phoenix market.
The new 25-story, 37...
| Almanac Realty Investors to Provide up to $300 Mil of Capital to CIP Real Estate
CIP Real Estate has entered into an agreement with a fund managed by Almanac Realty Investors LLC to provide up to $300 mil of growth capital to CIP to accelerate its investment strategy of acquiring value-add multi-tenant in...
| Alaskan Investor Buys Single-Tenant TX Industrial Facility
A private investor from Alaska purchased a 60k sf, mission critical, industrial distribution facility located at 4905 Winnebago Lane in Austin, TX. The single-tenant facility is leased to ABC Supply Company, a leading distrib...
| Single-Tenant Vegas Office Building Trades for $274/sf
A 66.8k sf, single-tenant office building triple net leased to Shift4 in Las Vegas sold for $18.3 mil, or $274/sf. The building, constructed in 1993, was purchased by a private investor and sold by Las Vegas-based Moonwater C...
| Office Headquarters Building for Pioneer National Resources Acquired by PRP for $584 Mil
PRP has acquired Pioneer National Resources’ new headquarters, a 1.125 msf, 10-story office building in Dallas’ Las Colinas submarket, for $584.2 mil ($519/sf). The property, located at 777 Hidden Ridge, was sold by a consort...