| Colorado Red Robin Fetches $796/sf
A Minneapolis-based 1031 exchange investor paid $5.733 mil for a single-tenant restaurant property fully occupied by Red Robin in Colorado Springs, CO. Built in 1987 and located at 1410 Jamboree Dr, the property totals 7.2k s...
| Cohen Asset Management Buys 1.3 msf of Dallas Industrial Properties
Cohen Asset Management Inc purchased two Class A industrial properties totaling 1.33 msf in Dallas’ Pinnacle Industrial Park. The properties were 100% leased at the time of the sale.
Pinnacle Park I, at 3700 Pinnacle Point ...
| AZ Office Asset Goes for $51/sf
Denver-based Bow River Capital Partners purchased Grand Central Tower, a 284.7k sf, transit-oriented office tower in Phoenix, for $14.65 mil ($51/sf). The 20-story building is located at 3550 N. Central Ave, in the city’s cen...
| Nevada Office Property Trades for $7 Mil
A private investor paid $7 mil for Gibson Tech Center, a 30k sf office building in Henderson, NV. The asset, located at 168 North Gibson Rd, was sold by MCA Realty, who acquired the property in late 2016 for $3.15 mil.
| Investor Spends $9.3 Mil on Two Phoenix Self-Storage Properties
Irvine-based Westport Peoria Phoenix Self Storage LLC purchased two U.S. Storage Centers in Phoenix for $9.34 mil.The properties, located at 19315 N. 83rd Ave and 2331 W. Indian School Rd, were sold by Phoenix-based Orsett St...
| Value-Add Office Opportunity in Phoenix Goes for $69/sf
In Phoenix, a two-story, 29.5k sf office building traded for $2.05 mil ($69/sf). The building – Royal Suites Park – is located at 3233 West Peoria Ave.
We’re told this was a value-add sale of a 75% percent occupied building....
| AZ Office Asset Trades in $25 Mil Deal
In a recent AZ office buy, Ascentris acquired Kierland Corporate Center II, a three-story, 82k sf, Class A multi-tenant property, for $25 mil, or $305/sf. The property is located at 7033 E. Greenway Pkwy, west of Scottsdale ...
| TX Walgreens Property Goes for $313/sf
A 15k sf Walgreens with drive-thru retail property in Mesquite, TX has sold for $4.7 mil ($313/sf). Walgreens has nine years remaining on the its absolute, NNN corporate-guaranteed lease with 10 five-year option periods to ex...
| St. Regis Properties Buys 375-Unit TX Multifamily Property
St. Regis Properties purchased RiverVue Apartments, a 375-unit residential property at 5825 Arborlawn in Fort Worth, TX. The price was not disclosed.
Completed in 2017, RiverVue is situated within the Waterside project, a mi...
| Stos Partners Acquires 1.35 msf Industrial Portfolio in TX at U.S. Border
Stos Partners purchased an eight-building, 1.35 msf multi-tenant industrial portfolio in the U.S. border city of Laredo, TX, in an off-market transaction worth $88 mil ($65/sf). The asset was purchased in a joint venture par...
| Commercial Real Estate Financing Briefs
HFF - Greg Brown and AJ Manas with HFF arranged $26.65 mil in refinancing of a 19-property, 245-bed student housing portfolio near the campus of The University of Southern California (USC) in Los Angeles. The portfolio is loc...
| G2 Capital Makes $11 Mil Phoenix Office Buy
G2 Capital closed on a two-building, 136k sf office buy in Phoenix for $10.9 mil ($80/sf). The buildings, located at 3925 – 3945 E. Broadway Rd, were sold by Glasir Capital Partners just 30 days after they purchased the prope...
| The Krausz Companies Spends $59 Mil on 400k sf Retail Asset in Las Vegas
The majority, 393.9k sf, portion of Tropicana Beltway Shopping Center, was purchased for $59 mil by affiliates of The Krausz Companies, a privately held Investment, Development and Management Company, headquartered in San Fra...
| Phoenix Industrial Market Sees Strong Absorption Through First Three Quarters of 2018
Metro Phoenix absorbed more than 5.4 msf of industrial space during the first three quarters of 2018. According to the Q3 2018 Phoenix Industrial Insight report from the Phoenix office of JLL, the market can expect another 1....
| Simplified Properties Buys 17k sf AZ Retail Asset
Parkway Village, a 16.6k sf shopping center in Goodyear, AZ, was purchased for $2 mil ($120/sf) by Simplified Properties, a NNN leased investment group. The property is located at 15605, and 15633 West Roosevelt St.
| Capstone Advisors Spends $6.6 Mil on AZ Industrial Asset
Capstone Advisors paid $6.64 mil for First Rose Garden Commerce Center, two multi-tenant industrial buildings totaling 73.3k sf ($91/sf) in Phoenix.
First Rose Garden Commerce Center is located at 21002 N. 19th Ave and 1950 ...
| 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...