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• Tucson Res Development Lands $38.6 Mil in Construction Financing
1/16/23
Plans for Aerie Northwest, a 144-unit multifamily development in Northwest Tucson, are set to move forward after locking up $38.65 mil in construction money. The project is located at the Southeast corner of North La Cholla B...
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• Phoenix Industrial Market Breaks Multiple Sales Records
1/16/23
Phoenix’ industrial market broke several all-time highs regarding sales metrics including transaction volume which ended the year at $2.5 bil and with an average price per square foot (sf) of $164.41, per Avison Young’s just ...
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• LPC Desert West and Harvard Investments Break Ground on 7 msf AZ Industrial Development
1/16/23
Lincoln Property Company’s Southwest division, LPC Desert West, and Scottsdale-based Harvard Investments have broken ground on Phase One of Goodyear AirPark. Located on 565 acres adjacent to the Phoenix-Goodyear Airport in Go...
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• Armstrong Capital Development Buys 4.3-Acre AZ Dev Site
1/13/23
In a recent AZ land trade, Armstrong Capital Development paid $3.4 mil for a 4.29-acre land parcel for future commercial development in Buckeye. The site is located at the northeast corner of Watson Rd and I-10.
James DeCrem...
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• Las Vegas Office Market Leads Nation in Employee Return Rate
1/13/23
Avison Young recently released its Fourth Quarter 2022 Las Vegas Office Market Report. Las Vegas has led the nation in its ‘employee return rate’ as it pertains to office space. Using December 2019 as a baseline, Las Vegas ha...
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• Stos Partners Pays $10.9 Mil for 94k sf Industrial Building in Phoenix
1/13/23
Stos Partners paid $10.9 mil for a 94.2k sf ($116/sf), freestanding industrial building in Phoenix. The property is situated on 4.2 acres at 1002 S. 54th Ave, ideally located within a 20-minute drive of all parts of the Phoen...
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• SIM Real Estate Group Secures $32 Mil in Construction Money for AZ Res Project
1/12/23
Scottsdale-based SIM Real Estate Group has obtained $32.1 mil in construction financing for the development of Legacy at Laveen Village, a 172-unit Build-to-Rent (BTR) housing community located south of Southern Ave along 35t...
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• JRK Property Holdings Initiates its Newly Closed $1 Bil Platform V Multifamily Fund with $168.5 Mil in Acquisitions
1/12/23
JRK Property Holdings has acquired Residences at Park Place, a 258-unit luxury mid-rise apartment and townhome community in the preeminent Kansas City suburb of Leawood, KS, from VanTrust Real Estate. JRK is also under contr...
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• Colorado Springs Office Portfolio Traded in $54 Mil Deal
1/12/23
A private partnership acquired a 289k sf, Class A office/flex and industrial manufacturing/distribution portfolio in Colorado Springs, CO for $54.3 mil ($188/sf). The portfolio, consisting of two adjacent buildings, was sold ...
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• Owner/User Spends $5 Mil on Vegas Office Building
1/11/23
Las Vegas-based Fasteners Inc, a professional contractor supply company, purchased a 17.8k sf office building in Las Vegas for $5 mil ($281/sf). The single-story building, located at 1491 Center Crossing Rd, was vacant at the...
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• DIV Industrial to Develop 1.7 msf Industrial Complex in Las Vegas
1/11/23
DIV Industrial has acquired 94.04 acres of land within Las Vegas’ El Dorado Valley for the development of El Dorado Valley Logistics Center, a new 1.7 msf, Class A industrial complex. At completion, the cutting-edge, LEED-cer...
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• Optima Spends $44.75 Mil on AZ Res Dev Site
1/10/23
Optima paid $44.75 mil for a 22-acre development site on the southeast corner of Scottsdale Rd and the Loop 101 freeway in Scottsdale, AZ. Chicago-based Optima is planning to build a new luxury mixed-use residential project n...
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• PrimeSource Building Products Leases 170k sf Space in Aurora, CO
1/06/23
PrimeSource Building Products inked a lease for 170.3k sf at HighPoint Elevated, a 5.5 msf industrial park under construction in Aurora, CO. The global building products distributor will relocate from its existing Denver loca...
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• Downtown Denver Retail Asset Goes for $370/sf
1/05/23
The Shops at Riverfront Park, a 31.9k sf, multi-tenant asset included the entirety of commercial/retail space located within the Riverfront Park neighborhood in Downtown Denver, traded hands in an $11.8 mil ($370/sf) transact...
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• Phoenix-Area Hotel Property Gets New Owner in $19.5 Mil Deal
1/04/23
In a recent Phoenix area hotel trade, HWC Hospitality paid $19.5 mil for Hyatt Place, a 127-room ($153.5k/room) hotel in Gilbert. The six-story property is located at 3275 S. Market St.
Hyatt Place is strategically located a...
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• Greer Oliver and Connor Nebeker-Hay Join JLL Capital Markets
12/30/22
Greer Oliver and Connor Nebeker-Hay have joined JLL Capital Markets as Senior Director and Associate, respectively, in the firm’s Phoenix office. Oliver will lead JLL’s institutional industrial investment sale efforts through...
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• Phoenix Industrial Building Goes for $175/sf
12/29/22
A 48.5k sf industrial building in Phoenix was purchased by a private investor in an $8.5 mil ($175/sf) deal. The property, located at 3201 East Broadway Rd, was sold by Atlas Phoenix.
Located south of Sky Harbor Internationa...
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• Despite Record New Supply, National Industrial Vacancy Dips Below 4%
12/28/22
This report provided by CommercialEdge
The industrial sector's expansion remained on track as high demand for industrial space continued to drive brisk rent increases. Meanwhile, Southern California's industrial rent growth ...
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• Phoenix Hotel Property Trades for Over $16 Mil
12/28/22
A 99-room Hampton Inn hotel asset in Phoenix sold for $16.25 mil, or $164k/room. The property, located at 160 W Catalina Dr, was purchased by locally-based Mango Tree LLC.
The Hampton Inn benefits from its strong brand and b...
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• AZ Build-to-Rent Development Lands $30 Mil in Construction
12/27/22
A joint venture between Blue Vista Capital Management and Family Development secured $30 mil in construction money for Villas Litchfield Park, a planned, 153-unit, build-to-rent community development in Phoenix.
Upon comple...
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