| Hines Acquires 49 Acres Outside of Salt Lake City for Development
Hines has acquired a 49.5-acre acre property in West Valley City, UT, just outside of Salt Lake City. The firm plans to develop 201 Mountain View Park (“201 MVP”), a single-phased Class A industrial/logistics park, on the sit...
| New Multifamily Property in Tempe, AZ Sells for $297k/Unit
Lakeside Drive, a brand new, 150-unit Class A, luxury rental community located in the center of Downtown Tempe, sold for $44.5 mil, or $297k/unit. The property, located at 500 W. 1st S, was purchased by San Diego-based Lakesi...
| Draftsmen & Craftsmen
The walls have been tilted tilt on East Valley Commerce Center Phase II, a two-building, 363k sf industrial project being developed by Metro Commercial Properties in the heart of Mesa’s US 60 corridor, in Arizona. The work w...
| George Oliver Providing a Home for Modern Office Space Users in Phoenix at CASA
Phoenix-based George Oliver has unveiled plans for its new CASA redevelopment, a 181.2k sf, Class A office building in Phoenix’s booming Uptown neighborhood. The $17 mil renovation will entail converting CASA from a 1989-buil...
| TX BofA Branch Trades at 6.4% Cap Rate
A single-tenant, 17.6k sf freestanding property fully occupied by Bank of America in San Antonio, TX sold for $3.225 mil ($183/sf) in an off-market transaction. The deal had a closing cap rate of 6.4%.
Built in 1980, the pro...
| AZ Retail Asset Sells for $160/sf
In a recent AZ retail trade, Roca Vista LLC purchased Scottsdale Ridge, a 15.6k sf retail center in Scottsdale, for $2.5 mil ($160/sf). The value-add opportunity is located at 21811 N. Scottsdale Rd, at the northeast corner o...
| EnVen Energy Takes 57k sf at Houston Office Tower
EnVen Energy Corporation signed an 11-year lease for 57.1k sf of space at 609 Main at Texas, a 48-story, 1.07 msf office tower in downtown Houston. The independent oil and natural gas firm will relocate to the building this f...
| San Antonio Res Project to Move Forward with $37.5 Mil in Acquisition, Construction and Equity Financing
David B. Norton Inc has arranged $37.5 mil in ground-up financing for the acquisition and development of a 340-unit, garden-style apartment complex outside of San Antonio, TX. The financing stretched to 98.5% of the total cos...
| Oxygen Hospitality Group Inc Buys 160-Room Phoenix Hotel Property
Oxygen Hospitality Group Inc has acquired Wyndham Garden Phoenix Midtown, a six-story, 160-room hotel property. The property is located just north of the burgeoning Phoenix downtown area, off the city’s main thoroughfare of C...
| AZ Biz Campus Gets New Owner in $63 Mil Deal
A fund managed by Los Angeles-based Oaktree Capital Management L.P. purchased Rio West Business Park, a five-building, 296.7k sf property in Tempe, AZ, for $63.35 mil ($214/sf). The property, located at 1621-2021 W. Rio Sala...
| BKM Capital Partners Spends $24 Mil on Denver Industrial Park
BKM Capital Partners has acquired Valley Business Center, a 203.2k sf, five-building multi-tenant light industrial property in Denver, CO, for $24.3 mil ($120/sf). The property was sold by Mountain West Industrial Properties....
| West Coast Exchange Investor Pays $640/sf for Single-Tenant Retail Asset
A single-tenant, 3k sf retail property in North Las Vegas sold for $1.9 mil, or $640/sf. The freestanding property is fully occupied by Arby’s. It is an outparcel to a Home Depot-anchored retail center and is across the stree...
| Newly Built Arizona Hotel Secures $40 Mil in Financing
Tucson Urban has obtained $40 mil in structured financing for the newly-built AC Marriott in Tucson, AZ. The loan was arranged by Walker & Dunlop Inc.
Completed in the fall of 2017, the eight-story, 136-key property marks th...
| Retail Pad Site in Carefree, AZ Sells of Just Over $2 Mil
Old Republic Exchange Company of Carefree, AZ paid $2.1 mil for a retail pad at Boulevard at Surprise Pointe, located at the southeast corner of Litchfield Rd and Waddell Rd in Surprise, AZ. The asset was sold by San Diego-ba...
| Transwestern Development Co and J.P. Morgan Asset Management Acquire 60 Acres Near Sam Houston Race Park
A venture between Transwestern Development Co (TDC) and institutional investors advised by J.P. Morgan Asset Management has acquired a 60-acre, infill site near the Sam Houston Race Park in Northwest Houston. The project, cal...
| Investor Buys 103k sf Industrial Showroom Property in Scottsdale
North Hayden Commerce Center, a 103.5k sf, industrial showroom building in Scottsdale, AZ, sold for $16.48 mil ($159/sf). The property, located at 14000 N. Hayden Rd, was purchased by Hayden Center Investments.
Completed in ...
| Hillwood Purchases 350k sf Industrial Development in Austin
Hillwood has acquired Southpark Commerce Center V, a recently completed, 350.2k sf industrial project in Austin, TX. The 50% leased, three-building property is located at 4500 S. Pleasant Valley Rd. The price was not disclose...
| Transwestern Investment Group Picks Up 1.2 msf TX Industrial Property
Transwestern Investment Group acquired a 1.2 msf industrial property in north Fort Worth, TX from DHL Supply Chain, on behalf of one of its separately managed accounts. The price was not disclosed.
Constructed in December 20...
| CA Investor Pays $770/sf for AZ Retail Center
Coyote Station, a 10k sf, multi-tenant retail center in Sedona, AZ, sold for $7.7 mil, or $770/sf. The property, located at the northeast corner of State Route 179 and Cortez Dr, was sold by Sedona-based Crescent Properties L...
| Bela Flor Communities Obtains $40 Mil in Financing for New AZ Res Community
Bela Flor Communities has landed $40 mil in financing for Bella Victoria, a newly built, 236-unit, high-end, multifamily property in Mesa, AZ. The property was nearly 94% leased at the time of construction completion.