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• Palisades Property Trust Buys AZ Industrial Property
4/06/21
Palisades Property Trust acquired a 65.5k sf industrial property in the Phoenix metropolitan area from a long-term corporate owner in an off-market transaction. The asset, located at 1503 West San Pedro in Gilbert, was purch...
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• NY Pension Fund Advisor Buys 389-Unit AZ Res Property
4/05/21
Almeria at Ocotillo, a 389-unit multifamily property in Chandler, AZ, was acquired by a New York-based pension fund advisor. The property was sold by Passco Companies.
Built in two phases in 2014 and 2015, Almeria at Ocotill...
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• Buyer Pays $178/sf for Medical Office Building in Nevada
4/02/21
A 13.2k sf medical office building at 2598 Windmill Pkwy in Henderson, NV sold for $2.35 mil, or $178/sf. The property was sold by Method Art Corporation.
Built in 1998, the single-story building features 19 wet exam rooms, ...
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• Rexford Industrial Realty Buys Five Assets Totaling 382k sf in Feb and March
4/01/21
In the latest activity by Rexford Industrial Realty, the company acquired five industrial properties representing 382.3k sf of improvements for an aggregate purchase price of $68.8 mil. The company also sold one industrial pr...
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• Wood Investments Companies Closes $35 Mil Retail Buy in Idaho
3/31/21
Wood Investments Companies Inc has acquired CentrePoint Marketplace, a 100%-occupied, 197.3k sf community shopping center in the city of Meridian, the second-largest city in Idaho. The purchase price was $35 mil ($177/sf), re...
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• West Freeman Properties Pays Over $200k/Unit for Phoenix Multifamily Property
3/30/21
West Freeman Properties purchased Midtown Flats, a luxurious, 122-unit multifamily property in Phoenix, for $26 mil ($213k/unit). The property, located at 825 W. Osborn Rd, was sold by Midtown Flats Acquisition Company LLC.
...
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• Kyrene School District Leases 28 Acres in Chandler, AZ for Industrial Development
3/30/21
Kyrene School District inked a 77-year ground lease for 28.6 acres in Chandler on which it will develop Converge Logistics Center. The project will consist of three general industrial buildings totaling approximately 512.7k ...
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• Molto Properties Breaks Ground on 115k sf Houston Industrial Facility
3/26/21
Molto Properties has broken ground on West Gulf Bank Distribution Center, a 115.6k sf, Class A distribution building in Houston. The new facility is located at 9700 West Gulf Bank, within Brookhollow West Business Park.
West...
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• New AZ Mixed-Use Project Seeing Considerable Leasing Activity
3/25/21
There’s been a lot of recent tenant activity at The Watermark | Tempe, a new high-end mixed-use project in Tempe, AZ. This includes the completed openings of 10 retail and restaurant tenants, along with three significant offi...
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• Wadsworth Development Group Buys Phoenix Site for Industrial Project
3/24/21
Wadsworth Development Group purchased a 10-acre land parcel located at the Southwest corner of 15th Ave and Pinnacle Peak Rd in the Deer Valley submarket of Phoenix for $6.4 mil. Wadsworth intends to develop a 136k sf, spec i...
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• Draftsmen & Craftsmen
3/24/21
In development news out of Houston, Texas Tower, a 47-story, 1 msf, Class AA office tower project in Downtown Houston, has reached its structural topping out. The building is a development of Hines and Ivanhoé Cambridge.
Des...
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• Investor Pays $588/sf for NoCal Dialysis Clinic
3/23/21
A 1031 exchange investor purchased a newly constructed, 11.4k sf outpatient dialysis clinic in Watsonville, CA for $6.7 mil ($588/sf). The deal had a closing cap rate of 5.15%.
The outpatient clinic is located at 5 Nielson S...
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• CH Projects Buys Historic Lafayette Hotel in San Diego for $25.8 Mil
3/22/21
CH Projects has acquired the historic, 131-room North Park neighborhood for $25.8 mil. The property is located at 2223 El Cajon Blvd, west of I-805 and south of I-8.
The Lafayette Hotel also features an Olympic-size pool and...
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• Former Retail Anchor Building in Santa Barbara is being Repositioned as Office Space
3/22/21
Pacific Retail Capital Partners is repositioning a former Macy’s anchor building at its Paseo Nuevo Shopping Center in Santa Barbara as office space. The structure, located at 701 State St, has been named the Ortega Building....
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• Westlake Village Smart & Final Sells for $22.5 Mil
3/19/21
A 50.2k sf, NNN-leased Smart & Final grocery store in Westlake Village sold for $22.525 mil, or $448/sf. The asset is located within the Westlake Village Marketplace shopping center, across the street from Westlake Business P...
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• New AC Marriott Downtown Phoenix Opens for Business
3/18/21
The newest hotel in downtown Phoenix features exceptional views and high-end features — and is now open for business despite the impact of the pandemic.
The just completed AC Marriott Downtown Phoenix in downtown Phoenix, f...
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• USPS Net-Leased Property in Inglewood Bought for $16.8 Mil by Century Park Partners
3/18/21
Century Park Partners purchased a 22.4k sf, absolute-net ground lease building in Inglewood for $16.8 mil. The property site, totaling 1.65 acres at 8821 Aviation Blvd, west of the 405 Fwy and south of Manchester Blvd, is hom...
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• Work Gets Underway on High-Rise Res Project in Downtown Salt Lake City
3/18/21
Construction has started on a 190-unit, mid-rise and high-rise, mixed-use community at 255 South State Street in downtown Salt Lake City, UT. The project, designed by KTGY Architecture + Planning, is being developed by Brinsh...
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• Libitzky Property Companies Buys 95k sf AZ Industrial Asset
3/17/21
Elliot Park 10, a 95.3k sf, multi-tenant industrial asset in Tempe, AZ, was acquired for $10.5 mil ($110/sf) by Emeryville, CA-based Libitzky Property Companies in an off-market deal. The property was 95% leased at the time o...
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• PCCP LLC and CalSTRS Lead New Venture to Acquire Single-Family Rental Communities
3/17/21
PCCP LLC, together with the California State Teachers' Retirement System (CalSTRS) and a global institutional investor, has formed a joint venture to invest in purpose-built, single-family rental communities located in primar...
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