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• Draftsmen & Craftsmen
3/03/22
Menifee Union School District has completed a reconstruction work at its Menifee Valley Middle School. The $38 mil, 71.3k sf project transitioned the campus to a magnet school focused on visual and performing arts.
The reno...
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• ViaWest Group Starts Work on 146k sf AZ Industrial Project
3/02/22
ViaWest Group has broken ground on Airport 48 Industrial, a 146.5k sf, Class A industrial building that will sit on one of the last remaining infill parcels in Central Phoenix. The project is being built by local general cont...
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• Fairfax Financial Holdings Limited Invests $300 Mil in Kennedy Wilson
2/28/22
Fairfax Financial Holdings Limited, through its affiliates, will make a $300 mil strategic preferred equity investment in global real estate investment company Kennedy Wilson. Kennedy Wilson expects to use the proceeds to fun...
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• Stafford Holdings Spends $23 Mil on Phoenix Office Property
2/25/22
Idaho-based Stafford Holdings paid $23 mil for Concorde Commerce Center, a 140.2k sf ($164/sf) office property in Phoenix. The seller was a joint venture between Phoenix-based ViaWest Group and New York-based Taconic Capital ...
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• Shir Capital Buys 496-Key Hotel Elegante in Colorado Springs
2/24/22
Austin, TX-based Shir Capital has acquired Hotel Elegante, a 496-key hotel property on 17 acres in Colorado Springs, CO. Built in 1974, the property is located at 2886 S. Circle Drive and features a conference center, restaur...
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• Developer Sells Portfolio of 13 CVS-Occupied Properties in Deals Totaling $90 Mil
2/24/22
A portfolio of 13 CVS-occupied properties sold in multiple transactions totaling $90 mil. The properties, which total just under 195k sf, are located in the states of Arizona, Texas, Virginia, South Carolina, Idaho, Louisiana...
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• The Bascom Group Closes Fifth Multifamily Investment Fund
2/24/22
The Bascom Group has closed the offering for its fifth fully discretionary multifamily real estate investment fund. The fund, Bascom Value Added Apartment Investors V LLC (“Fund V"), raised equity commitments of $150 mil. Thi...
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• Four-Property Medical Office Portfolio Sells for $75 Mil
2/23/22
A four-property, 280k sf medical office portfolio in the metro areas of Phoenix, Cleveland and San Antonio was acquired by an unnamed investor in a $75 mil ($268/sf) transaction. The buildings are located in densely populated...
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• JLL Acquires Gilliland Construction Management
2/23/22
JLL has completed the acquisition of Gilliland Construction Management, a leader in project and construction management services for life sciences, lab, retail, hospitality, industrial, multifamily and office properties.
Fo...
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• Phoenix Raising Cane’s Trades at $2,500/sf
2/18/22
A 3.6k sf, single-tenant Raising Cane’s in Phoenix, AZ, traded for $9 mil, or $2,500/sf. The sale came in at a 3.72% cap rate, setting price and cap rate records for a Raising Cane’s, we’re told.
Built in 2018, the property ...
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• Unique Sports Medicine Facility in Scottsdale, AZ Trades in $9 Mil Transaction
2/18/22
Victorium, a unique 30k sf, integrated sports and sports medicine facility in Scottsdale, AZ, sold for $8.9 mil, or $297/sf. The seller was Victorium, which agreed to lease back the building.
Victorium consists of a unique b...
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• Multifamily Asset in the East Bay is Traded in $23 Mil Deal
2/16/22
Mosaic Apartments, a 62-unit apartment community located in Castro Valley, an unincorporated community in CA’s Alameda County, traded hands in a recent $23 mil ($371k/unit) transaction. The apartment community, situated on 2....
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• Woodside Health Spends $12.5 Mil on AZ Medical Mixed-Use Asset
2/16/22
Woodside Health acquired Il Palazzo at Arrowhead Ranch, a 44.7k sf, mixed-use medical office and retail property spanning five buildings in Glendale, AZ, in a $12.5 mil ($280/sf) transaction. Woodside is a Cleveland, OH-based...
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• Suburban Office Park in Phoenix Goes for Over $200/sf
2/15/22
West 101 Business Center, a 118.9k sf, multi-tenant suburban office park in Phoenix, was acquired for $24.7 mil ($208/sf) by Higley Project LLC, a Wyoming-based investor. The property, located at 1830, 1840 and 1850 N 95th La...
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• Silver Point Development Starts Work on 204k sf CO Industrial Project
2/15/22
Silver Point Development has broken ground on Buildings 1 and 2 (94k sf and 109.7k sf respectively) of Phase I within Elevation25 industrial park located at Weld County Road 9-1/2 and Hwy 66 in Mead, CO. With construction now...
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• Office Building in Brentwood Goes for $780/sf
2/11/22
A three-story, 24.3k sf office building in Brentwood, on Los Angeles’ Westside, sold for $19 mil, or $781/sf. The building, located at 11440 San Vicente Blvd, was partially vacant at the time of sale. The new owner plans to o...
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• Phoenix Area Industrial Property Snapped Up in $27.5 Mil Deal
2/09/22
A 227k sf, single-tenant industrial property in the Phoenix Metro area submarket of Tolleson was purchased for $27.5 mil ($121/sf) by an undisclosed institutional buyer. The property was sold by Stos Partners, who acquired th...
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• Phoenix Office/Medical Campus Gets New Owner in $18 Mil Deal
2/08/22
The Brookstone, a two-building, 126.5k sf (288/sf) office and medical campus in the heart of Midtown Phoenix, was purchased by a San Diego-based investor for $18.2 mil ($144/sf).
The two buildings, located at 340 E Palm Lan...
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• Premier Workspaces Partners for Another QWork in Warner Center
2/07/22
Irvine-based Premier Workspaces is partnering with California Home Builders to open their second partnered location, QWork Topanga. The new 9.2k sf, private office and coworking space is located on the ground level of The Q T...
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• Base Equities Teams Up with Alex Brown Realty in Joint Venture Partnership
2/07/22
Los Angeles-based Base Equities has entered into a strategic joint venture partnership with Alex. Brown Realty (ABR), an independent real estate investment manager specializing in value-add, opportunistic, and core-plus inves...
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