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• Phoenix Sees First Decline in Office Vacancy Rate in Five Years
10/15/24
This report provided by real estate services firm JLL
The Phoenix metro area is seeing a stabilization in the local office sector with vacancy rates decreasing, the sublease market showing positive trends and rental rates on...
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• Texas-Size Land Buy Totals Over 41,000 Acres
10/14/24
In a large-scale land trade in Texas, SE Texas Opportunity Fund LLC, led by Managing Partner Christopher Boone, acquired 41,139 acres of timberland in Southeast Texas' Piney Woods. The transaction, which spanned 96 tracts acr...
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• Commercial Real Estate Financing Briefs
10/14/24
GREYSTONE MONTICELLO -- Darryl Myrose with Greystone Monticello closed on two bridge loans totaling $40.3 mil for two apartment complexes in Las Vegas, NV. The purpose of the loans is to refinance the outstanding bridge loans...
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• Zekelman Industries Entity Buys 20-Acre Site in San Tan Valley, AZ for Res Development
10/11/24
Z Modular, a division of Zekelman Industries, purchased a 20.45-acre development site in San Tan Valley, AZ for $14.4 mil. The buyer intends to build a 318-unit multifamily project on the land.
The San Tan Valley land site s...
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• Sargard Real Estate Spends $77 Mil on AZ Multifamily Community
10/10/24
In a recent AZ apartment buy, Sargard Real Estate acquired Trovita Rio, a 209-unit core apartment community located in Tempe. Although a price was not given out, sources tell us that the property traded for around $77 mil, or...
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• Ares Management Real Estate Picks Up 97k sf AZ Industrial Asset on Behalf of a Client
10/09/24
Ares Management Real Estate purchased Pima Street Logistics Center, a 97.2k sf industrial asset in Phoenix, on behalf of a fund it manages. The standalone, infill building sits on 4.2 acres within the Sky Harbor submarket.
P...
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• Rio Bravo Studios to Build Soundstage Facility in Albuquerque NM
10/08/24
Rio Bravo Studios is planning to build a state-of-the-art commercial soundstage facility with four 20k sf soundstages in Albuquerque, NM, with plans to be operational by 2025. The site will include office areas for each sound...
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• Uncertainty Throughout the Phoenix Office Market Expected to Continue Through the End of 2024
10/07/24
Thia report provided by real estate services firm Kidder Mathews
Market Highlights
• Availability rates continue to grow, currently at 28.2%.
• Quarterly leasing activity fell 34.1% YOY to 941k sf
• YTD sales volume spanne...
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• 400k sf AZ Industrial Park Changes Hands
10/04/24
Chandler Airpark 202, a newly constructed 402.5k sf Class A industrial project in Chandler, AZ was purchased by an unnamed global private equity firm.
Situated on over 26 acres, the project is highly visible and accessible,...
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• Las Vegas Area Logistics Portfolio Sold to Ares Management Real Estate and BKM Capital Partners in Separate Deals
10/04/24
A private institutional investment firm sold a two-property, infill logistics portfolio in separate deals to two different buyers. The properties, both in the greater Las Vegas area, were purchased by an Ares Management Real ...
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• DXD Capital Building Class A Self-Storage Facility in Scottsdale, AZ
10/03/24
DXD Capital has broken ground on a new multi-story, Class A, climate-controlled storage facility in Scottsdale, AZ. It is expected to open in the fourth quarter of 2025.
The facility will be located at 8888 East Desert Cove ...
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• Green Leaf Partners Management Buys 280-Unit CO Multifamily Property
10/03/24
Alvista Harmony, a 280-unit garden community in Fort Collins, CO, was acquired by Green Leaf Partners Management,Inc. It was sold by an affiliate of Phoenix Realty Group and a joint venture partner.
Located at 2002 Battlecr...
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• Denver Firm Buys 40k sf Phoenix Industrial Property
10/01/24
Denver-based Comunale Properties purchased a freestanding 39.6k sf, Class A industrial building in Phoenix for an undisclosed price. Located at 20 South 69th Ave in the desirable Southwest Valley submarket, the property is fu...
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• Single-Tenant Walgreens Asset in Texas Trades
10/01/24
An Alexandria, Louisiana-based private investor purchased a 14.5k sf, single-tenant Walgreens-occupied property on an outparcel to a Kroger-anchored shopping center in an affluent suburb of the Houston, TX metro area.
Built ...
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• Branded Bills Leases 96k sf HQ Space in Tempe, AZ
10/01/24
Branded Bills inked a lease for 96.4k sf of headquarters space in Tempe, AZ. The firm is a rapidly expanding, homegrown Arizona company offering a range of hat and apparel products featuring a trademark, hand-forged leather p...
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• Colorado Neighborhood Center Sells for $545/sf
9/30/24
Harmony Commons, a modern 25.7k sf neighborhood shopping center in Fort Collins, CO, traded for $14 mil, or $545/sf. Built in 2017, the unanchored neighborhood center consists of two multi-tenant, single-story retail building...
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• Colorado Take 5 Oil Change Property Sells for $1,667/sf
9/29/24
A local 1031 exchange investor paid $2 mil for a 1.2k sf ($1,667/sf), Take 5 Oil Change property in Arvada, CO. The tenant has a new 20-year lease in place at the property, located at 6795 Wadsworth Blvd.
The property is wel...
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• Phoenix Office Asset Picked Up by Local Investor in $9 Mil Transaction
9/27/24
Gateway Executive Center, a 39.9k sf office property in Phoenix, was acquired by an Arizona based private investor, MJA Investments Inc, for $9.05 mil ($227/sf). The multi-tenant, two-story building is located at 1048 N 44th ...
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• EQT Exeter Closes 1 msf Nevada Industrial Buy
9/27/24
EQT Exeter purchased USA Parkway Distribution Center I & II, a state-of-the-art industrial park comprising two, Class A cross-dock distribution buildings totaling 1.09 msf of space. The park, is located within the Tahoe-Reno ...
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• Denver Ranks 8th Among Top North American Tech Markets
9/26/24
This report provided by real estate services firm CBRE
Denver ranks #8 overall in CBRE’s 2024 Scoring Tech Talent report, moving up two spots as tech talent hiring in North America slowed despite strong growth in artificial-...
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