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• EKN Development to Start Work on Dual-Branded Fairfield Inn and TownePlace Suites in Tempe, AZ
7/28/22
EKN Development Group has secured $24.5 mil in construction financing for the development of the dual-branded Fairfield Inn and TownePlace Suites, a 148-key, select-service hotel in Tempe, AZ.
The four-story property will fe...
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• Haven Realty Capital and Apollo Global Management Affiliate Spend $22.8 Mil on Vegas BTR Project
7/28/22
Haven Realty Capital, in partnership with funds managed by an affiliate of Apollo Global Management Inc, has purchased for $22.8 mil the first phase of a build-to-rent townhome community now under construction in the Las Vega...
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• IndiCap and Invesco Announce Plans for 1.5 msf Biz Park Project in Glendale, AZ
7/27/22
IndiCap and Invesco have teamed up to develop Virgin Industrial Park, a two-phase, 110-acre Class A development in Glendale, AZ that will total more than 1.5 msf of space in five buildings. The project will bring IndiCap’s lo...
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• Mesa, AZ Industrial Campus Traded Over Six Months for $208 Mil
7/27/22
An affiliate of Cohen Asset Management has acquired The Landing 3, 4 and 5 (“The Landing”), a brand new Class A industrial development totaling 858.9k sf on over 64 acres along E Ray Rd in Mesa, AZ. The property was sold by ...
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• KB Investment and Development Company Buys 328-Unit Multifamily Property in Tempe, AZ
7/27/22
KB Investment and Development Company has acquired Skywater at Town Lake, a 328-unit multifamily community located at 601 W. Rio Salado Pkwy in Tempe, AZ. The purchase was financed with a first mortgage of $108 mil provided b...
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• Vegas Office Building Trades for $387/sf
7/27/22
A 67.1k sf, Class A LEED-certified office property in Las Vegas sold for $26 mil ($387/sf). Located at 9075 W Diablo Dr, the three-story, the multi-tenant building is 97% leased to several notable credit tenants with strong l...
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• AZ Medical Office Trade Closes at $326/sf
7/25/22
In a recent AZ medical office buy, Evergreen Medical Properties paid $8.8 mil for Plaza Town Center Professional Plaza, a 27k sf ($326/sf) property located at 9139 W Thunderbird Road in Peoria. The property was sold by Garnet...
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• Gardner Blatt Completes $291 Mil Acquisition of Three-Building Salt Lake City Industrial Portfolio
7/22/22
Gardner Batt has sold the final asset of a three-building, 547.3k sf Class A industrial portfolio comprising three newly constructed industrial/logistics buildings in the Salt Lake City Metro Area. The trio of last-mile facil...
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• Investment Fund Acquires 70k sf Self-Storage Facility in the Phoenix Area
7/22/22
A fund sponsored by CBRE Investment Management has acquired a 70k sf, self-storage facility located in a northwest suburb of Phoenix. The purchase is part of the fund’s strategy to acquire high-quality self-storage assets acr...
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• The Opus Group Spends $49 Mil on 316 Acres of Development Land in the Denver Airport Area
7/22/22
The Opus Group acquired 316 acres of undeveloped land between Interstate 70 and Denver International Airport in Aurora, CO for $49.7 mil. Opus, in a joint venture with Principal Real Estate Investors, plans to build a 3.9 msf...
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• DB Capital Management and Sabal Financial Group Buy 228-Unit TX Multifamily Property
7/21/22
DB Capital Management has partnered with Sabal Financial Group to acquire Villas of Henderson Pass, a 228-unit multifamily community in San Antonio, TX. The property, which was 98% occupied at closing, is DB Capital’s third a...
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• Schnitzer Properties Buys 163k sf AZ Retail Center
7/20/22
Schnitzer Properties paid $29 mil for Chandler Pavilions, a fully leased, 163.3k sf ($178/sf), high-traffic regional retail center in the Phoenix-area community of Chandler. The property was sold by Evergreen Devco Inc, which...
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• Vegas Office Building Sells for $23.3 Mil
7/20/22
Marnell Corporate Center 3 (MCC3), a three-story, 71.4k sf office building in Las Vegas, sold for $23.3 mil, or $325/sf. The property was 87% occupied at the time of sale.
The asset was sold by Dornin Investment Group, who o...
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• Colorado Office Properties Land $196 Mil Financing
7/20/22
Schnitzer West has obtained financing of $196 mil on the Fiddler’s Green Portfolio, consisting of Palazzo Verdi, Fiddler’s Green I and Fiddler’s Green II. The Class A office portfolio totals 748.4k sf and is located within Fi...
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• BatchService Buys 44k sf Office Building in Tempe, AZ
7/18/22
BatchService spent $8.8 mil on a two-story, 44k sf ($200/sf) office building in Tempe, AZ. The property, located at 4625 S Wendler Dr, was built in 1985 and renovated in 2016.
BatchService is a software company that provides...
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• Two Newly Constructed Buildings Totaling 249k sf Trade at AZ Biz Park
7/18/22
A Chicago-based institutional investor purchased two buildings totaling 249k sf at Lotus Project – Phase II, a newly built industrial park in Chandler, AZ. They were sold by Conor Commercial Real Estate.
At the time of sale,...
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• CBRE Opens Full Floor WorkPlace360 Office at Vegas Mixed-Use Development
7/15/22
CBRE has opened its new 19k sf, full floor office at UnCommons, a 40-acre mixed-use in Las Vegas developed by Matter Real Estate Group. The new space, located at 8548 Rozita Lee Ave, was constructed with WELL certification st...
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• Hines Buys 24-Story Office Tower in Salt Lake City’s CBD
7/14/22
Hines purchased South Temple Tower, a 217k sf value-add office building located in the vibrant North End of Salt Lake City’s CBD, in an off-market transaction. Hines plans to transform the office property into a 255-unit luxu...
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• Institutional Investor Spends $25 Mil on Pair of AZ Retail Assets
7/12/22
An unnamed institutional buyer paid $25.7 million for a retail portfolio comprising two shopping centers totaling 38.3k sf in Phoenix and Scottsdale, AZ. The assets were sold by MDC Realty Advisors, a subsidiary of Epic Inves...
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• ViaWest Group to Start Work on 134k sf Denver Industrial Facility
7/11/22
Phoenix-based ViaWest Group is making its first market entry into Denver with plans to construct a 134.4k sf industrial facility just north of downtown. The freestanding, Class A industrial building, Downtown Distribution Cen...
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