| Phoenix Airport Office Market Seeing Continued Strong Demand
This report was provided to us by the Phoenix office of JLL
Phoenix’s Airport office submarket is quickly filling with new and expanding tenants, pushing vacancy rates down 9.3% year-over-year and inching rental rates up, ac...
| Crown Realty & Development to Move Forward with 96-Acre Master-Planned Community in North Phoenix
Crown Realty & Development has purchased 96.5 acres and acquired the “Master Developer” rights in North Phoenix’s Desert Ridge master planned community. The property and rights have been the subject of active litigation and ...
| Phoenix Apartment Sales Comp Comes in at $120k/Unit
Sanctuary on 22nd, a 266-unit apartment community in Phoenix, sold for $31.8 mil ($119.5k/unit) in a recent deal. The property, located at 8530 N. 22nd Ave, was acquired by a private investor.
Built in 1985, Sanctuary on 22n...
| Watt Multifamily Buys 280-Unit Res Community in Las Vegas
Watt Multifamily Corp purchased Chapel Hill, a 280-unit multifamily property in Las Vegas. The property is located at 9620 West Russell Rd, just west of the 215 Fwy.
Although the price was not immediately disclosed, Watt fin...
| AZ Single-Tenant Retail Property Goes for $2 Mil
Hobby Action at Chandler Pavilions II, a 20.9k sf, single-tenant retail building within the Chandler Pavilions II retail center in Chandler, AZ, sold for $1.9 mil ($91/sf). The property is located at 865 N. 54th St, off the I...
| Mass Equities and AECOM Capital to Develop Mixed Use Project in Denver
Mass Equities and AECOM Capital Inc have announced plans for a mixed-use development on a 7.8-acre site along Brighton Blvd in Denver’s River North Art District (RiNo). The project, called VARIO, entails transforming an exist...
| Printed Circuit Board Manufacturer Takes 48k sf of AZ Industrial Space
Advanced Circuits, one of the top-three largest printed circuit board manufacturers in North America, has agreed to a 10-year lease for 48k sf of industrial space in Chandler, AZ. The lease accounts for half of a 96k sf facil...
| Investor Picks Up Phoenix Office Property
West 101 Corporate Center, an 81.9k sf office building in Phoenix, sold for $8.5 mil ($104/sf). It was acquired by Ryan Spiekerman and Adam Feldman of Helix Properties LLC, on behalf of Next Gen 101 LLC, a single-entity contr...
| Nooner Holdings Buys Community Shopping Center in Texas
Nooner Holdings has acquired Military Crossing, a 171.3k sf, community shopping center located in San Antonio, TX. The center is 99% occupied and includes Academy Sports flagship store, BioLife Plasma Services, Harbor Freight...
| AZ Biz Park Acquired By Pacifica Real Estate Group for $14.6 Mil
Santa Barbara-based Pacifica Real Estate Group purchased Pecos Gateway Business Park, a 125.9k sf industrial property in Mesa, AZ, for $14.6 mil ($116/sf). The asset, located at 8743 E. Pecos Rd, was sold by Boomerang Capital...
| US Storage Centers Buys 1,269-Unit Asset in Las Vegas
US Storage Centers has acquired a 1,269 unit, 178k sf self-storage facility in Las Vegas from Durango Mini Storage & Charleston Mini Storage. US Storage Centers currently owns and operates five self-storage facilities in the...
| Great Western Bancorp Inks Lease for 11k sf in Chandler, AZ
Great Western Bancorp Inc agreed to a 10-year lease for 10.9k sf of space in Chandler, AZ. The lease value was not disclosed.
The deal is at 180 South Arizona Avenue, within the first phase of New Square Chandler, a three-bu...
| Vegas Retail Center Trades in $67 Mil Deal
An unnamed private investor has acquired the majority of Shadow Mountain Marketplace, a 359k sf community shopping center in Las Vegas. The $67.25 mil acquisition did not include the 154k sf Costco anchor store, giving the de...
| Commercial Real Estate Financing Briefs
HFF - A 28.1k sf high-street, retail property on Beverly Hills’ iconic Rodeo Drive was refinanced with a new 10-year fixed-rate loan for $160 mil. The borrower is an unnamed private investor. The fully leased, two-story prope...
| Boston Firm Picks Up AZ Industrial Facility
Boston-based STAG Industrial purchased Palo Verde Industrial, a 129k sf building in Tucson, AZ. The price was not disclosed.
Palo Verde Industrial is an institutional quality industrial facility located at 6161 South Palo Ve...
| Anardarko Petroleum Corp Inks 295k sf Extension Deal at Granite Tower in Denver
Anadarko Petroleum Corp agreed to a 12-year extension lease for 295.7k sf of space at Granite Tower in Denver. The transaction is the largest lease signed in Denver for 2018 and makes up part of the 384.7k sf of signings at G...
| New CO Health and Wellness Facility Completed
Work has been completed on Superior Medical Center (SMC), a four-story, 60k sf destination health and wellness facility in Superior, CO, a northwest Denver suburb. The project, developed by PMB, includes a 229-space parking s...
| EverWest Real Estate Investors Pays $8.65 Mil for Building Filled with DIRTT
Denver-based EverWest Real Estate Investors purchased Phoenix Airport Industrial Center, a 77.6k sf building in Phoenix, for $8.65 mil ($111/sf). The property was sold by Los Angeles-based Cohen Asset Management.
| Big Lots Center in Las Vegas Trades for almost $13 Mil
Craig Promenade, an 81.1k sf, Big Lots anchored neighborhood shopping center in North Las Vegas, was purchased for $12.9 mil ($159/sf) by Tulsa, OK-based Liberty Crossing Apartments LLC, an entity formed by Precision Equity. ...
| Bixby Land Led Venture Secures $180 Mil Credit Facility
Bixby Land Co, in a joint venture with an institutional partner, has secured a $180 mil credit facility. The fund’s initial closing of $48.875 mil was used to finance a four-building, Class A industrial portfolio totaling 982...