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• Presson Companies Buys 143k sf AZ Office Asset from LPC Desert West in $26.5 Mil Deal
8/15/23
Gainey Center, a three-story, 143.7k sf Class A office building in Scottsdale, AZ, was acquired by Presson Companies, headed by long-time Phoenix commercial real estate investor Daryl Burton, for $26.5 mil ($184/sf). The prop...
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• Seven-Property EoS Fitness Portfolio Trades for $94 Mil
8/14/23
A portfolio of seven single-tenant, EoS Fitness properties was acquired by a publicly traded REIT in a $94 mil transaction. Five of the assets are located in Arizona and two are in Florida.
The portfolio was comprised of thr...
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• Avondale, AZ Starbucks Relocates into Larger Store Next Door
8/11/23
Starbucks has leased a 3.1k sf store in Avondale, AZ. The store, located at 10655 W. Indian School Rd, features the Valley’s first-ever Starbucks double drive through with two order points.
The lease relocates Starbucks fro...
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• RADCO Companies Buys 143-Room Phoenix Hospitality Property
8/10/23
Atlanta, GA-based RADCO Companies acquired the Aloft Phoenix-Airport hotel, a six-story, 143-room hospitality asset in Phoenix. The price was not given out.
The Aloft Phoenix-Airport is a boutique hotel located at 4450 East ...
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• Westcore Closes $92.7 Mil Purchase of AZ Industrial Campus
8/09/23
Westcore has completed a $92.7 mil forward purchase of Hatcher Industrial Park from Ryan Companies US Inc. Westcore partnered with Ryan one year ago for the development of the 906k sf property, and this marks the completion o...
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• MCR Picks Up Two Arizona Hotel Properties
8/07/23
In a notable Arizona hotel trade, MCR has acquired the 169-room Holiday Inn Express & Suites Scottsdale – Old Town in Scottsdale and the 121-room Hampton Inn by Hilton Phoenix-Biltmore in Phoenix. The price was not disclosed....
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• Trion Properties Wraps Up $41 Mil CO Res Buy
8/04/23
Trion Properties has acquired Trailpoint on Highline, a 198-unit multifamily asset in Aurora, CO, for $41.1 mil ($209k/unit). According to Trion, their all-in basis is only $231k per unit, compared to the submarket average i...
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• Colorado Multifamily Comp Comes in at $100k/Unit
8/04/23
In a recent multifamily sales comp out of Colorado, Belmont Heights Apartments, a 36-unit multifamily community located in Pueblo, sold for $3.6 mil ($100k/unit). The City of Pueblo is approximately 45 miles south of Colorado...
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• CVG Properties Buys Build-to-Rent Community in Phoenix for $27 Mil
8/04/23
CVG Properties purchased Proximity Baseline, an 80-unit build-to-rent (BTR) property in Phoenix, for $27.2 mil in an off-market deal. The community, located at 1700 East Baseline Rd, was sold by Avenue North.
The detached an...
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• Heitman Affiliate Buys 60k sf Medical Office Asset in Utah
8/02/23
An affiliate of Heitman LLC has acquired Mountain Point Medical Center, a 60k sf, Class A medical office building in Lehi, UT, in the Salt Lake City metropolitan area. The asset was sold by an affiliate of The Inland Real Est...
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• Stonelake Capital Partners Spends Over $8 Mil on AZ Industrial Building
8/01/23
A 37.6k sf, freestanding industrial building in Tolleson, AZ was acquired by TX-based Stonelake Capital Partners for $8.3 mil ($221/sf). The property, situated on 4.4 acres at 8590 West Jefferson St, is 100% leased to a singl...
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• Kingsbury Hospitality REIT I Buys 136-Room AZ Hotel Property
8/01/23
In a recent AZ hotel trade, Kingsbury Hospitality REIT I Inc purchased Cambria Hotel Phoenix Chandler Fashion Center, a 136-key property located at 3165 West Frye Rd in Chandler, for $21.5 mil. Located in the East Valley, pro...
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• InTrust Property Group Locks Up $16.6 Mil Refi on Phoenix Res Property
7/31/23
InTrust Property Group has obtained $16.575 mil in financing for Sunset Sound Apartments, a 237-unit, garden-style apartment complex in Phoenix. The property is located at 2307 – 2323 East Van Buren St, just east of I-10.
Bu...
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• Colson Group USA Inks Lease for 119k sf at Spec Phoenix Industrial Development
7/28/23
CapRock Partners has completed Phase I of CapRock West 202 Logistics, a new leading-edge speculative industrial development in the Southwest Phoenix submarket. Delivery of the 140-acre phase brings approximately 2.5 msf of Cl...
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• Private Investor Snaps Up Vegas Office Building
7/28/23
A private investor purchased an 8.4k sf office building in Las Vegas from Manley Grier Investments for $3.3 mil, or $393/sf.
The one-story building is located at 1100 Grier Ave in the city’s Airport submarket, near Intersta...
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• Altus Properties Buys 97k sf Colorado Springs Industrial Building
7/28/23
Altus Properties purchased a 97k sf, Class A industrial manufacturing/distribution building in Colorado Springs, CO. The price was not given out.
Located at 10205 Federal Drive, the single-tenant property is 100% leased and ...
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• Theater Property in Mesquite, NV Sells for $4 Mil
7/27/23
Tacoma, WA-based Harts Lake LLC has purchased a six-screen movie theatre fully occupied by Larry H. Miller Megaplex Theatres in Mesquite, NV for $4 mil. Built in 2007, the property is situated on three acres of land at 749 We...
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• Texas Medical Property Trades for $1,200/sf
7/26/23
A 5k sf, medical property occupied by Total Point Urgent Care in Dallas, TX was purchased for $6 mil ($1,200/sf) by a Florida-based private investor who was in a 1031 exchange. The property, situated on .8 acres at 3443 West ...
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• Newly Built AZ Res Community Refinanced with $53 Mil Loan
7/26/23
P.B. Bell has landed a $53 mil refi loan for Hangar at Thunderbird, a newly built 266-unit, 19-building apartment community in Glendale, AZ. The new financing was provided by PCCP LLC.
Hangar at Thunderbird is located at 153...
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• Lucid Private Offices Takes Full Floor at Phoenix Office Building
7/26/23
Texas-based Lucid Private Offices has leased a full floor totaling 26.9k sf at 24th At Camelback II, a Class A office building located along the Camelback Corridor in Phoenix. The trophy asset is owned and was developed by th...
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