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July 12, 2020
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TEXAS/SOUTHWEST NEWS
Archive
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• Bascom Northwest Ventures Wraps Up $90 Mil Denver Res Buy
10/21/19
Bascom Northwest Ventures LLC has acquired 1000 South Broadway Apartments, a 260-unit Class A infill apartment community in Denver, in a $90.5 mil ($348k/unit) deal. The property was purchased with investment proceeds derived...
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• Phoenix Industrial Project Trades for $24 Mil
10/18/19
Greenwood & McKenzie purchased Desert Gateway, a 172.8k sf, two-building industrial project in Phoenix, in a recent $24 mil ($139/sf) deal. The property, located at 909 W. Pinnacle Peak Pkwy and 1000 W. Vista Bonita Dr, was s...
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• AZ Grocery-Anchored Center Trades for Over $40 Mil
10/17/19
Sparks Galleria, a 212.6k sf, grocery-anchored retail center in Sparks, NV, was purchased by CIRE Equity in a transaction valued at $40.65 mil, or $191/sf. The property, located on Disc Dr and Galleria Pkwy east of Route 445/...
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• Greenfiber Leases 74k sf AZ Space
10/17/19
Charlotte-based Greenfiber signed a lease for 74k sf of space at Gateway Technology Commerce Center in Mesa, AZ. The property is located at 7535 E. Ray Rd. Recently completed in the summer of 2019, Gateway Technology Commerc...
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• Single-Tenant Retail Building in Glendale, AZ Sells for $1,390/sf
10/16/19
Black Rock Coffee Bar, an 863 sf, single-tenant retail building in Glendale, AZ, sold for $1.2 mil, or $1,390/sf. The property is located at 6805 W. Bell Rd. The building is 100% leased to Oregon-based Black Rock Coffee Bar,...
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• BKM Capital Partners Spends $14.75 Mil on Denver Distribution Complex
10/15/19
BKM Capital Partners has acquired Crossroads Distribution Center, a 14-unit industrial asset consisting of three single-story distribution warehouse buildings totaling 150.2k sf in the Central East I-70/Montbello submarket of...
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• Commercial Real Estate Financing Briefs
10/10/19
CONTINENTAL PARTNERS - Brian Asheghian with Continental Partners arranged a $34 mil loan for a newly constructed 144-unit multifamily asset in North Hollywood. The loan serves to refinance the existing construction loan on th...
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• Sendoso Signs Expansion/Relocation Lease for 36k sf in Phoenix
10/10/19
San Francisco-based Sendoso has inked an expansion/relocation lease that increases its Phoenix-area footprint from 4.2k sf to 36k sf and relocates the company from The Quad in Scottsdale to two full floors – including premier...
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• $400 Mil Vegas Mixed-Use Project Promises to Be a Very UnCommons Development
10/09/19
Matter Real Estate Group has obtained construction financing for UnCommons, a $400 mil mixed-use development in southwest Las Vegas. The project will break ground this spring and be completed in fall 2021. The development, f...
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• Phoenix Office Space Absorption Headed Toward 14-Year Record
10/08/19
This report was provided to us by the Phoenix office of real estate services firm JLL The Phoenix office market has already absorbed more than 3.07 msf of office space in 2019. According to the Q3 Office Insight report just ...
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• Trammell Crow Company and CBRE Global Investors Planning 356k sf Phoenix Industrial Development
10/08/19
Trammell Crow Company Phoenix and its partner, a fund sponsored by CBRE Global Investors, have unveiled plans for a new industrial project in Phoenix, known as Park Aldea. Located just west of the intersection of 99th Ave and...
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• Florida Investor Buys 120k sf AZ Shopping Center
10/08/19
Glendale Galleria, a 119.5k sf, LA Fitness-anchored neighborhood shopping center in Glendale, AZ, was acquired by a Florida private investor involved in a 1031 exchange. The property, located at 5880 W. Peoria Ave, was sold b...
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• Salt Lake City Investor Pays $30.7 Mil for AZ Multifamily Complex
10/07/19
Solano Vista, a 352-unit res complex in Glendale, AZ, has a new owner after being sold for $30.75 mil, in a deal that works out to $87.4k/unit. Solano Vista is in the high-demand and supply-constrained Glendale submarket wher...
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• Vegas Office Complex Trades in $27 Mil Deal
10/07/19
Greystone Office Park, a 222k sf, five-building office and retail pad complex in Las Vegas, recently sold for $27 mil, or $121/sf. The asset is situated on more than 13 acres at 1800-2030 East Flamingo Rd. Developed in 1982...
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• Transwestern Development Breaks Ground on 834k sf TX Industrial Park
10/07/19
Transwestern Development Co has broken ground on Sam Houston Distribution Center, an 833.7k sf, Class A industrial park in Northwest Houston. The three-building park is slated for delivery in second quarter 2020. Located ne...
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• Scottsdale Investors Trade AZ Retail Property
10/07/19
Shashikant Patel of Scottsdale has purchased 9494 Northern, a 23k sf, multi-tenant neighborhood retail center in Peoria, AZ, for $8.8 mil ($382/sf). The property was sold by Cave Creek Capital Partners LLC, also out of Scotts...
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• Local Investor Buys 112-Unit Multifamily Property in Las Vegas
10/04/19
City View Apartments, a garden-style, 112-unit apartment complex in Las Vegas, traded hands in $13 mil ($116k/unit) deal. The property is located at 3355 Arville St, in the West-Central submarket of Las Vegas. Constructed i...
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• Scottsdale, AZ Res Complex Acquired for $18 Mil by Local Investor
10/04/19
The Winfield of Scottsdale, a 95-unit apartment complex in Scottsdale, AZ, was purchased by a Michigan-based investment entity for $18.3 mil, or $192.6k/unit. The property is located at 8021 East Osborn Rd, west of Route 101....
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• AZ Self-Storage Goes for $17k/Unit
10/01/19
Dominion Verrado Self-Storage, a 524-unit self-storage facility in Buckeye, AZ, has sold for $9.1 mil ($17.3k/unit). It is located at 20825 W. McDowell Rd, north of I-10 and west of Verrado Way. Dominion Verrado Self-Storage...
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• Construction Financing Secured for Mixed-Use Project in Denver’s Arts District
10/01/19
Art District Holdings, a Denver-based apartment developer, has secured $26 mil in construction financing for the development of an eight-story apartment and retail building in Denver’s Arts District. The funds were provided b...
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