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• Lincoln Property Company Awarded Management Assignment for Two-Building Phoenix Office Complex
8/30/17
Lincoln Property Company (LPC) has been selected as the exclusive property manager for 3131 and 3133 Camelback, a two-building, Class A office property located at 3131 and 3133 E. Camelback Rd, in the heart of Phoenix’s prest...
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• Modern Residential and Henley USA to Undertake $2.4 Mil in Renovations on Two Phoenix Area Res Properties
8/29/17
Modern Residential and Boston-based Henley USA have begun $2.4 mil in renovations and repositioning for two multifamily properties they recently acquired in the Phoenix area. The properties, totaling 481 units, are Sonoma Pin...
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• Hines and New York Life Real Estate Investors to Build 250k sf AZ Office Project
8/28/17
Hines has teamed up in a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, to develop the Offices at Chandler Viridian. The Offices at Chandler Viridian is a six-story, C...
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• Recent Purchase of 318-Unit Belmar Villas Represents the Second Denver Area Acquisition for Steadfast Apartment REIT III
8/28/17
In a major multifamily acquisition from a month or so ago, Steadfast Apartment REIT III Inc purchased Belmar Villas, a 318-unit, garden-style apartment community in the Denver, CO suburb of Lakewood, for $63.3 mil ($199k/unit...
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• AZ Retail Center Purchased for $14.2 Mil by Litwin Management
8/25/17
Litwin Management has purchased Laveen Village Marketplace, a 56.7k sf retail center in Arizona, for $14.2 mil ($250/sf). It was sold by PASSCO Companies LLC.
Laveen Village Marketplace is located at Baseline Rd and 51st Ave...
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• Nicola Crosby Real Estate Buys 110k sf Phoenix Asset
8/24/17
Nicola Crosby Real Estate has purchased Cabot Business Center, a five-story, 109.8k sf multi-tenant industrial/flex business center in Phoenix, for $11.4 mil ($104/sf). The property is located at 3802-3922 E University Dr, at...
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• Crescendo Development Pays $12 Mil for AZ Medical Office Property
8/24/17
Crescendo Development paid $12.1 mil for Foothills Health Center, a two-building, 53.3k sf ($227/sf) medical office property within the Ahwatukee submarket of Phoenix. Situated on over eight acres at 4510 and 4530 E. Ray Rd, ...
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• H.I.G. Realty Partners and Lincoln Property Company Acquire Houston Office/Retail Portfolio
8/24/17
Greenspoint Place, a mixed use portfolio in the North Houston District of Houston, was recently acquired by a venture between H.I.G. Realty Partners and Lincoln Property Company (LPC). The portfolio, consisting of six office ...
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• AZ Corp HQ Facility Trades in $5.3 Mil Deal
8/23/17
Hunter Engineering paid $5.35 mil for Gold Dust Corporate Center, a two-story, 31.8k sf ($168/sf) corporate HQ facility in Scottsdale, AZ. The building, located at 10446 N. 74th St, was built in 2002.
Gold Dust Corporate Cen...
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• Investor Buys 7.7k sf Property in Scottsdale’s Old Town
8/17/17
Clayton Companies purchased a two-story, 7.7k sf building in Scottsdale, AZ for $1.65 mil ($214/sf). The property was sold by Arts District Lofts LLC.
The property, located at 3944 North Marshall Way, on the southwest corner...
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• Mark IV Capital breaks Ground on Summit II at La Frontera
8/15/17
Mark IV Capital has broken ground on Summit II at La Frontera, a 95k sf, Class A office building in Round Rock, TX. The two-story building, situated near the intersection of Interstate 35 and SH 45, will be adjacent to the 87...
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• New Ultra-Luxury Res Development in Salt Lake City is Completed
8/14/17
SALT Development has completed work on 4th West Apartments, an ultra-luxury multifamily community in downtown Salt Lake City. Located at 255 North 400 West, adjacent to two light rail systems and one block from the Vivant NBA...
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• Investor Spends $11.4 Mil on Two Res Communities in Tucson
8/14/17
James Associates has purchased two multifamily properties totaling 192 units in Tucson for a combined price of $11.4 mil ($59.4k/unit). The acquisition includes The Place at Nine90, with 72 units, and The Place at Ten50, with...
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• Grocery-Anchored Center in Vegas Trades for $63.5 Mil
8/11/17
LaSalle Investment Management purchased Montecito Marketplace, a 190.4k sf, Smith’s-anchored neighborhood shopping center in Las Vegas, NV, for $63.55 mil ($334/sf). The seller was Brixmor.
Montecito Marketplace is situated ...
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• New Medical Office Project Underway in Sugar Land, TX
8/10/17
Construction has begun on TierOne Development’s 38.6k sf, office/medical development in Sugar Land, TX. The spec development is located at 7619 Branford Place. Slated for completion in the second quarter 2018, the Class A bui...
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• Vegas Area Multifamily Community Traded in $76 Mil Deal
8/04/17
Farnam Realty Inc bought Veritas Apartments, a 430-unit, Class A multifamily building in the Las Vegas suburb of Henderson, NV. According to tax records, the property traded for $76.5 mil, or about $178k/unit.
Veritas Apart...
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• Neighborhood Retail Center in Phoenix Trades
8/03/17
Perry Investment Trust purchased Camelback Center, a CVS/Pharmacy-anchored, neighborhood shopping center in Phoenix. The property is located at the northeast corner of Camelback Rd and 16th St.
Anchored by CVS/Pharmacy and T...
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• San Diego Investor Pays $36 Mil for Tempe, AZ Res Community
8/01/17
A San Diego-based private investor acquired Ovation at Tempe, a 270-unit multifamily community in Tempe, AZ, for $36 mil, or about $133k/unit. The asset was sold by a joint venture between Passco Companies LLC and InSite Prop...
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• Trinsic Residential Group Buys 3.88-Acre Res Dev Site in Tempe
7/28/17
Dallas-based Trinsic Residential Group purchased 3.88 acres at The Watermark | Tempe from Fenix Development for $14.7 mil.
Trinsic will use the site for development of Aura at Watermark, a high-rise apartment tower that wil...
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• Avanath Capital Management Buys Acquires CO Affordable Housing Community
7/27/17
Avanath Capital Management LLC recently acquired Depot Square, a 71-unit affordable housing community in Boulder, CO, for $13.6 mil ($191.5k/unit). This is the firm’s first acquisition in Colorado.
Depot Square is a Class A,...
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