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• Sale of Konami Building Marks Third Vegas Industrial Disposition in Six Months for CIP
5/14/12
Konami Digital Entertainment has acquired its 114.5k sf building in Las Vegas. The “state-of-the-art” build-to-suit facility, known as the Konami Gaming Building, is located within CIP Real Estate’s portfolio in the Hughes Ai...
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• Walgreens Properties Commanding Big Dollars from Investors
5/14/12
By Allen Wolfsheimer
Single-tenant Walgreens properties continue to fetch big dollars from buyers looking to invest in secure NNN-leased assets. We’ve got two very noteworthy recent Walgreens sales to report, including a rec...
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• Phoenix, AZ Apartment Community Purchased for $21.6 Mil by Utah Investor
5/11/12
West Town Court, a 274-unit apartment community located at 8400 West Virginia Ave in Phoenix, sold for $21.65 mil ($79k/unit). Built in 2009, West Town Court contains 138 one-bedroom, 120 two-bedroom, and 16 three-bedroom uni...
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• Johnson Capital Arranges $3 Mil on Phoenix Retail Property
5/10/12
Neal Churney, CCIM, Senior Vice President, and Don Burnes, Senior Vice President, in Johnson Capital’s Phoenix office, have assisted one of their clients by arranging the refinancing of a 23k sf retail property in Phoenix wit...
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• Hiring Solutions Firm Inks 10-Year Lease for 20k sf of Tempe, AZ Office Space
5/08/12
Verifications Inc, a hiring solutions provider based in Minneapolis, MN, inked a five-year, $1.3 mil lease for 20.2k sf ($1.07/sf/mo) of office space in Tempe, AZ. The space is located at 8260 South Hardy Dr, within Warner Cr...
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• SoCal Investor Spends $25.8 Mil on Scottsdale Multifamily Community
5/04/12
A Phoenix-based investment entity paid $25.85 mil for The Cortesian, a 332-unit ($78k/unit) apartment community in Scottsdale, AZ. The property is located at 7749 East Camelback Rd in central Scottsdale.
The Cortesian boasts...
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• Orem, UT Student Housing Facility Sells
5/02/12
College Terrace Apartments, an 80-unit student housing complex located just steps from Utah Valley University in Orem, UT, was purchased by an out-of-state investor. The 64.5k sf College Terrace Apartments was built in 1985 o...
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• Passco T-I-C Group Sells $38.5 Mil AZ Multifamily Asset
5/01/12
Alanza Place, a 360-unit apartment community located at 1121 North 44th St in Phoenix, AZ, sold for $38.5 mil ($107k/unit). Built in 2002, Alanza Place is a Class A property containing a mix of 191 one-bedroom, 161 two-bedroo...
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• Ramsey Real Estate Picks Up Vegas Retail Asset
4/26/12
Ramsey Real Estate Group has acquired Decatur Inn Plaza in Las Vegas in an all-cash transaction for $1.35 mil. The asset is a 12k sf ($113/sf) unanchored shopping center.
Decatur Inn Plaza is located at 3300 South Decatur B...
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• Two Vegas Industrial Sales Total to Over $14 Mil
4/25/12
We’ve got two recent industrial transactions to report from Las Vegas. The buildings total 281k sf of space and sold for a combined $14.5 mil.
In one of the deals, Prologis purchased a 171k sf building at 2875 N. Lamb Blvd,...
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• Intensified Office Recovery Spurs Institutional Capital to Denver
4/24/12
Denver’s office market recovery will accelerate, but operations will vary significantly by asset quality and location, per the most recent research from national investment real estate services firm Marcus & Millichap. This r...
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• Doerken Properties Obtains $23 Mil in Financing on Two Salt Lake City Properties
4/23/12
George Smith Partners (GSP) has arranged a total of $22.8 mil in financing for Doerken Properties Inc (DPI) for two Salt Lake City properties owned by affiliates of the company. The financings consisted of a $15.3 mil bridge ...
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• Cohen Financial Arranges $7 Mil on Mesa, AZ Apartment Community
4/20/12
Cohen Financial has arranged a $7.1 mil loan in connection with the acquisition of the Lindsay Palms Apartments a 141.5k sf, 132-unit apartment complex in Mesa, AZ. The Class A multifamily property, located at 2855 East Broad...
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• First Building Opens at New Broomfield, CO Live/Work TOD Community
4/19/12
The first of eight three-story buildings at the Arista Uptown Apartments in Broomfield, CO has been completed. Designed by KTGY Group Inc and developed Smith/Jones Partners LLC, a Denver-based apartment development and invest...
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• Franchisee Delivers Three Pizza Hut Properties for $3.55 Mil
4/19/12
Three freestanding Pizza Hut-occupied properties sold in the greater Phoenix market for a total of $3.55 mil in separate deals. The properties were sold by a Pizza Hut franchisee who operates a total of 46 Pizza Hut restauran...
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• Chandler Retail Center Sells After Some Lease-Up Work
4/17/12
Santan Gateway South, a 57k sf retail center in Chandler, AZ, recently sold for $6.2 mil ($109/sf). The property, located at 1305-1445 South Arizona Ave, is anchored by Sam’s Club and has a mix of national, regional, and loca...
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• AZ Investor Stands Behind Shadow Tree
4/13/12
Shadow Tree, a 148-unit apartment property located at 2606 North 44th St in Phoenix, sold for $5.25 mil, or $35.5k/unit. Built in 1979, Shadow Tree features a mix of four studio, 112 one-bedroom, and 32 two-bedroom units. The...
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• Cantor Fitzgerald Acquires Stake in El Media
4/12/12
Cantor Fitzgerald, L.P. has purchased a stake in EL Media and all of its subsidiary media entities (EL Media) for an undisclosed sum. The transaction follows last year’s venture that EL Media entered with a division of Panaso...
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• Glendale, AZ Building Trades Hands in $4.3 Mil Deal
4/06/12
ViaWest Group has sold a 19.8k sf free-standing office/industrial building in Glendale, AZ recently developed for Boart Longyear for $4.29 mil ($217/sf). The buyer was an entity formed by Ron Kaufman of The Ron Kaufman Compan...
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• Tucson Apartment Community Sells for $23 Mil
4/05/12
Bear Canyon Apartments, a 238-unit multifamily community located at 9055 E. Catalina Hwy in Tucson, AZ, recently traded hands at a price of $23.2 mil. The transaction works out to a cost of about $97.5k/unit and a cap rate of...
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