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• Two=Tenant Retail Asset in Colorado Sells for $364/sf
10/28/24
A newly developed, 9.6k sf Class A retail investment property in Windsor, CO traded for $3.5 mil, or $364/sf. The property is leased on a NNN basis to two tenants: Rogers Brewing LLC (dba Mash Lab Brewing) and Infusion Archit...
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• Scottsdale’s Southwest Experience Center Rebrands to NextSpace
10/25/24
Southwest Experience Center, a 32.7k sf, multi-tenant showroom facility in Scottsdale, AZ, has rebranded to NextSpace to better reflect the facility’s focus on serving the wide swath of companies expanding or relocating in Ph...
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• Meridian Acquires Vacant AZ Medical Building with Plans to Renovate It for New Tenant El Rio Health
10/25/24
Meridian recently acquired a vacant 94.6k sf medical building in Tucson, AZ in an $8.05 mil ($85/sf) transaction. The building sits on a 9.27-acre parcel at 4888 N. Stone Ave.
The property will be fully occupied by El Rio He...
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• Colorado 7-Eleven Sells for Over $2,000/sf
10/25/24
A CA-based private investor paid $8.33 mil for a 7-Eleven property in Thornton, CO. 7-Eleven has 14 years remaining on its corporate-guaranteed lease.
The 4k sf ($2,082/sf) building sits on 1.21 acres at 52 W. 84th Ave. The ...
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• Denver Area Biz Park Trades in $61 Mil Deal
10/24/24
Ambrose Property Group has purchased Ascent Commerce Center, 595k sf industrial park in the Denver area, in a $61 mil ($102/sf) transaction. The 33-acre industrial park is located at the intersection of 84th Ave and Telluride...
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• Liv Communities and Rockefeller Group Complete Work on 360-Unit AZ Res Community
10/24/24
Liv Communities and Rockefeller Group have completed work on and are now planning a November 2nd public open house event for Sol38 by Liv, a new, 360-unit residential community in Laveen, AZ. The project offers a range of ame...
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• Former Potato Barn in Arizona Sells in $3.6 Mil Deal
10/23/24
An 18.3k sf commercial property in Chandler, AZ was acquired by Taroko, US Corporation in a $3.6 mil ($197/sf) transaction. The property, located at 865 N. 54th St, within the Chandler Pavilions center, was formerly home to P...
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• Strong Leasing Continues for George Oliver’s Bond Office Transformation Project in Phoenix
10/21/24
There have been seven new leases totaling 65k sf at Bond, a 287k sf office redevelopment nearing completion in the heart of the Camelback Corridor in Phoenix. The amenity-driven project is a development by locally-based Georg...
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• Brown & Brown Insurance Renews 20k sf Phoenix Office Space
10/18/24
Brown & Brown Insurance, Inc, a global insurance brokerage and risk management company, inked a renewal lease for its 19.8k sf of Class A office space in Phoenix. Brown & Brown occupies the entire 11th floor at 2800 Tower, a ...
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• Nevada HAND Leases 22k sf of Las Vegas Office Space
10/17/24
Nevada HAND, the state’s largest developer, builder, and manager of affordable rental homes for low-income seniors and working families, agreed to a lease for 22.1k sf of office space in Las Vegas. Terms of the deal were not ...
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• Wentworth Property Company Buys Phoenix Industrial Assets in $17.5 Mil Sale/Leaseback
10/17/24
A joint venture led by Wentworth Property Company purchased the MarLam Industries Manufacturing portfolio, two buildings totaling 106.2k sf of space in Phoenix, in a $17.5 mil sale-leaseback deal. The buildings sit adjacent a...
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• PCCP LLC Picks Up 13-Acre TX Site for Res Development
10/15/24
PCCP LLC has acquired 13-acre parcel of land for the construction of Skymor at Pearland, a Class A, 109-unit built-for-rent gated townhome community located on Old Chocolate Bayou Rd in Pearland, TX. A Houston-based single-fa...
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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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