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March 28, 2024
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TEXAS/SOUTHWEST NEWS
Archive
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• $275 Mil Mixed-Use Development Gets Underway in Salt Lake City
6/29/17
SALT Development has started construction of Hardware District, a $275 mil mixed-use, four-building development featuring 466 luxury multifamily units and 260k sf of office space. It’s located on 400 West between North Temple...
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• AZ Biz Park Trades in $19 Mil Deal
6/28/17
Kachina Industrial Park, an eight-building, 202.9k sf business park in Tempe, AZ, was sold by NoCal-based Kieckhefer Properties for $19.1 mil, or $94/sf. The property, located at 1805-1850 W. Drake Dr, was purchased by Libitz...
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• Gelt Inc Purchases 472-Unit Multifamily Community in Albuquerque
6/27/17
Gelt Inc has acquired Mountain Run Apartments, a 472-unit community in Albuquerque. The seller was Chartwell Capital Partners. Built in 1985, the community offers a tranquil, park-like setting on nearly 16 acres of land and ...
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• Phoenix Multifamily Property Refinanced with $28.5 Mil Loan
6/26/17
P.B. Bell Companies has refinanced Siena on Baseline, a 352-unit multifamily property in Phoenix, with a $28.5 mil loan arranged by Meridian Capital Group. Siena on Baseline, located at 4520 East Baseline Rd, is a two-story,...
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• Ares Management L.P. and TruAmerica Multifamily Pick Up 240-Unit AZ Res Property
6/23/17
Broadstone Gateway, a 240-unit family community in the Phoenix metro area, was purchased by Funds managed by Ares Management L.P. and TruAmerica Multifamily in a recent $30.75 mil transaction. Broadstone Gateway is located at...
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• Fowler Property Acquisitions Spends $40 Mil on AZ Res Asset
6/23/17
San Francisco-based Fowler Property Acquisitions LLC recently closed on a notable AZ multifamily buy, paying $40.5 mil for Ocotillo Springs, a 272-unit ($149k/unit) community in Chandler. The property, located at 825 West Que...
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• Sterling Organization Wraps Up $22 Mil AZ Retail Buy
6/22/17
Sterling Organization has purchased Palm Valley Marketplace, a 107.6k sf, grocery-anchored shopping center in Goodyear, AZ. The property was acquired from a subsidiary of Regency Centers for $22.45 mil ($209/sf). Palm Valle...
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• CO Retail Asset Acquired by Private Investor Out of San Clemente
6/21/17
Pueblo West Retail Center, a 13k sf, strip center property in Pueblo West, CO, was purchased for $2.38 mil ($183/sf) by a San Clemente-based private investor. The property, which was sold by a private investor from San Diego,...
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• Phoenix Restaurant Property Trades in Sale/Leaseback Transaction
6/21/17
The Vig Fillmore, a 3k sf restaurant property in Phoenix, has traded hands for $2.3 mil, or $767/sf. The seller will continue to occupy the property, located at 606 N. 4th Ave, as part of a sale/leaseback deal. The Vig, know...
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• Greystone Provides $68 Mil Refi on Dallas Res Community
6/19/17
Greystone has provided a $68.1 mil CMBS refi loan for Vineyards at Forest Edge, a 1,218-unit multifamily property in Dallas. The Vineyards at Forest Edge features 11 swimming pools, four hot tubs, four playgrounds, two outdoo...
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• Vegas Area Medical Office and Surgery Center Completed
6/19/17
PMRG has completed work on Henderson Medical Plaza, an 85k sf, multi-tenant comprehensive medical office building and surgery center in Henderson, NV. The project, located at 1050 Galleria Drive will be an integral part of th...
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• Vegas Multifamily Property Goes for $16.6 Mil
6/16/17
Flamingo Chateau, a 136-unit res property in Las Vegas, has sold for $16.6 mil ($122k/unit). The property is located at 6570 W. Flamingo Rd, west of I-15 and Las Vegas Blvd. Flamingo Chateau was built in 1992. The property o...
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• Ridge Breaks Ground on 351k sf Spec Industrial Project in Austin
6/14/17
Ridge, the industrial development arm of Transwestern Development Co, has broken ground on a 24.17-acre site that will house a 351.2k sf, speculative project in southeast Austin, TX. The project, situated within Southpark Com...
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• Private Investment Group Buys 113k sf Texas Office Asset
6/14/17
A private investment group, Arbor Hui LLC, purchased Arbors at Brookhollow, a contemporary, 113.5k sf, Class A, office property in Arlington, TX. The multi-tenant building, located at 2201 E. Lamar Blvd, was sold by CRE Brook...
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• Physicians Realty Trust Hires C&W To Lease 335k sf Medical Office Portfolio in the Phoenix Area
6/13/17
Physicians Realty Trust has selected Cushman & Wakefield to market a 334.5k sf, four-property medical office portfolio in the Phoenix area. The leasing assignment has been awarded to the Cushman & Wakefield team of Sheila Bal...
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• Fenix Development Starts Work on 1.9 msf AZ Mixed-Use Campus
6/12/17
Fenix Development, out of Los Angeles, has broken ground on Phase I of The Watermark | Tempe at the north bank of Tempe Town Lake in Tempe, AZ. Phase I of the 1.9 msf mixed-use development will include 250k sf of Class A offi...
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• Dunhill Partners to Move Forward on TX Hotel Project with $63 Mil in Construction Money
6/09/17
Dunhill Partners has secured $63.5 mil in construction money for the development of the Virgin Hotel Dallas, a 16-story, 268-room upper tier hotel located in the Design District of Dallas, TX. With the loan in place, the fu...
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• AZ Neighborhood Center Fetches $320/sf
6/06/17
Tatum Plaza, a 29.5k sf, neighborhood shopping center in the Phoenix submarket of Cave Creek, AZ, has sold for $9.45 mil, or $320/sf. The property, located at 29455 N. Cave Creek Rd, east of I-17 and north of 101 Loop, was so...
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• Steadfast Apartment REIT III Closes $44 Mil TX Res Buy
6/05/17
Steadfast Apartment REIT III Inc (STAR III) has acquired The Pointe at Vista Ridge, a 300-apartment-home community located in the Northern Dallas submarket of Lewisville, for $44 mil ($147k/unit). The property, formerly known...
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• Discount Tire Company Pays $40 Mil for Its Corp HQ Property in Scottsdale
6/01/17
Discount Tire Company has purchased its 157.6k sf, corporate HQ office building in Scottsdale, AZ for $40.2 mil ($255/sf) in an all-cash transaction. The two-story, Class A facility was constructed in 2002 by Opus West Corp u...
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