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September 22, 2020
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TEXAS/SOUTHWEST NEWS
Archive
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• Work Started on Spec Scottsdale Office Project
12/19/19
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...
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• AZ Showroom Property Trades in $3 Mil Deal
12/17/19
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...
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• Hines to Break Ground on Luxury Multifamily Development in Phoenix
12/16/19
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...
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• Almanac Realty Investors to Provide up to $300 Mil of Capital to CIP Real Estate
12/16/19
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...
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• Alaskan Investor Buys Single-Tenant TX Industrial Facility
12/13/19
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...
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• Single-Tenant Vegas Office Building Trades for $274/sf
12/13/19
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...
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• Office Headquarters Building for Pioneer National Resources Acquired by PRP for $584 Mil
12/10/19
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...
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• Seefried Industrial Properties Starts Work on 220k sf Industrial Project in North Houston
12/09/19
Seefried Industrial Properties, as development partner for USAA Real Estate, has broken ground on Ella West Crossing inside Pinto Business Park, a Class A, master-planned industrial park in North Houston. Located at the nor...
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• Pathfinder Partners Completes Remodels on Two Colorado Apartment Communities
12/04/19
Pathfinder Partners has completed a comprehensive, $2 mil remodel of two adjacent apartment communities – Henley and Remy – at 635 Mohawk Dr and 565 Mohawk Dr in Boulder, CO. Situated on 3.9 acres, the communities are joined ...
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• Phoenix Office Building Sells for $4.95 Mil
12/03/19
Willmeng, a 17.2k sf office property located in Phoenix, traded in a recent $4.95 mil ($288/sf) transaction. Built in 2009, Willmeng is located at 2048 N. 44th St, north of the Red Mountain Fwy near the terminus of Hohokam E...
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• CapRock Partners Buys 95k sf Vegas Biz Park from MCA Realty
12/03/19
CapRock Partners LLC acquired Walnut Business Park, a two-building, 94.8k sf multi-tenant industrial business park in north Las Vegas, for $7.85 mil, or $83/sf. The property is located at 3020-3060 N. Walnut, just east of Las...
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• Cannon Commerical Closes on 214k sf Vegas Retail Buy
12/02/19
Cannon Commercial, based in Southern California, has acquired the majority of Westland Fair, a shopping center in West Las Vegas, NV. The purchase, Cannon’s second acquisition in the Las Vegas market in the past 24 months, co...
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• Investor Pays Over $20 Mil for AZ Office / Medical Campus
11/27/19
The Forum at Gilbert Ranch, a 92.5k sf, Class A office and medical campus in Gilbert, AZ, traded hands in a $20.5 mil ($222/sf) transaction. Forum at Gilbert LLC, a private Midwestern buyer, acquired the property from Denver-...
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• Clark County, Nevada Collects $63 Mil from Disposition of 11 Surplus Land Parcels
11/26/19
Clark County, Nevada sold 11 surplus land parcels in recent transactions that totaled $63 mil. The disposition of the parcels will provide Clark County with significant sale proceeds in addition to promoting private developme...
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• New Mixed-Use Community in Salt Lake City Breaks Ground
11/20/19
Lowe Property Group has broken ground on Dixon Place, a 59-unit, Class A development in the heart of Salt Lake City’s Sugar House neighborhood. The six-story, mixed-use community, designed by MVE + Partners, will feature a ra...
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• Continental Realty Group Spends $50 Mil on Two Vegas Area Res Properties
11/20/19
Continental Realty Group, through its subsidiary Continental Realty Assets Ltd (CRA), a Denver-based multi-family operator, has completed the acquisition of 240-unit Laurel Park Apartments and 168-unit Villa Del Rio Apartment...
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• Wilshire Capital Partners Acquires AZ Office Property in $54 Mil Deal
11/19/19
Wilshire Capital Partners closed on an AZ office buy, paying $54.5 mil for 3900 Camelback Center — a 177.5k sf ($307/sf), Class A building in the Camelback Corridor—one of the most prestigious and sought-after office submarke...
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• Compass Acquisition Partners Spends $66 Mil on 488-Unit Asset in Las Vegas
11/19/19
Compass Acquisition Partners has acquired Sandpiper Apartments, a 488-unit multifamily community in Las Vegas, from Apple Management for $66 mil ($135.2k/unit) in an off-market transaction. Sandpiper, located at 4650 W Oakey,...
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• Investors Trade AZ Shopping Center for $194/sf
11/19/19
Lakeview Village at Morrison Ranch, a 93.7k sf, Bashas’ grocery-anchored shopping center in Gilbert, AZ, traded for $18.2 mil ($194/sf). The center, located at the southeast corner of Higley Rd and Elliot Rd, was purchased by...
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• Reno Industrial Portfolio Sold in $50 Mil Transaction
11/18/19
Seagate Properties Inc has purchased a 584.9k sf, seven-building, industrial/warehouse portfolio in a prime Reno/Sparks location, for $50 mil ($85.50/sf). The acquisition was made in a partnership with in partnership with RGA...
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