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• Sperry Equities Buys 95k sf Retail Center in Phoenix
10/25/23
Sperry Equities LLC acquired North Mountain Village, a 94.5k sf retail center in North Phoenix for an undisclosed price. At the time of sale, the property had an 86% occupancy rate consisting of national and regional tenants,...
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• Community Preservation Partners and The Hampstead Companies Pick Up 112-Unit Multifamily Property in Layton, UT
10/25/23
CPP (Community Preservation Partners), in a venture with The Hampstead Companies, purchased Skyline View Apartments, a 112-unit multifamily property in Layton, UT. Skyline View Apartments is comprised of eight two-story...
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• AZ Retail Property Goes for $620/sf
10/25/23
A 1031 exchange investor paid $4.4 mil for a three-tenant, 7.1k sf ($620/sf) 100% leased retail property in Mesa, AZ. The property is occupied by Point 22 Tavern, Rio Nail Bar, and Bosa Donuts.
Built in 2023, the property i...
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• Trammell Crow Company Starts Work on First Phase of AZ Industrial Project
10/24/23
Trammell Crow Company (TCC) has broken ground on the first phase of the Cotton Lane Commerce Park in Goodyear, AZ. Phase one will include the delivery of two Class A industrial facilities for a total of 542.9k sf, in addition...
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• ASCH Leases 93k sf Full Building at Colorado Industrial Project
10/24/23
ASCH has linked the entire 93k sf Building 2 at Mulberry Connection, a Class A, spec industrial project developed by Comunale Properties in Fort Collins, CO. We’re told this is the largest industrial lease in Northern Colorad...
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• Saddle Creek Logistics Services Leases 571k sf AZ Industrial Building
10/20/23
Saddle Creek Logistics Services, a third-party logistics company, inked a lease for a new 571k sf industrial facility located in Glendale, AZ. Terms of the deal were not disclosed.
The property, a 620-foot-deep building, fea...
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• Texas Industrial Complex Sees Two Full Building Leases Totaling 82k sf
10/20/23
There have been two full-building leases totaling more than 82k sf to report at NorthStar Industrial Park, a five-building, Class A industrial project on 79 acres at 100 FM 3083 in Conroe, TX. The leases include a 64.2k sf de...
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• LPC Desert West Starts Work on $515 Mil Industrial Project in Phoenix
10/19/23
LPC Desert West has broken ground on Luke Field, a $515 mil, 2.4 msf Class A industrial development located adjacent to Luke Air Force Base in metro Phoenix.
Being developed in a single phase with completion expected in the ...
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• Philip Croker Joins Rockefeller Group as Senior Managing Director
10/19/23
Philip Croker has joined Rockefeller Group as Senior Managing Director and head of the company’s new Southwest Region. He was previously a Senior Managing Director with Hines.
Based in Houston, Croker will have responsib...
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• Commercial Real Estate Financing Briefs
10/18/23
MARCUS & MILLICHAP CAPITAL CORPORATION - Rick Judge with Marcus & Millichap Capital Corporation arranged $21.8 mil in financing for the purchase of Kaleidoscope Center, a retail shopping mall with office space located at 2774...
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• Lincoln Property Company Buys 308k sf Distribution Facility in Salt Lake City
10/18/23
Lincoln Property Company purchased 201 Commerce Center, Building 6, a 307.9k sf, Class A distribution facility in Salt Lake City. The price was not given out.
The facility sits on 17.9 acres and features 32 ft. clear height,...
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• Albany Road Real Estate Partners Picks Up Phoenix Industrial Park for $22.4 Mil
10/16/23
Boston-based Albany Road Real Estate Partners paid $22.4 mil for a four-building, multi-tenant light industrial complex totaling 110.7k sf ($202/sf) in the sought-after Deer Valley submarket in Phoenix. The property is 95% le...
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• New Chick-fil-A Ground Lease in Downtown Phoenix Goes for $6.1 Mil
10/13/23
A new downtown Phoenix Chick-fil-A ground lease traded for $6.1 mil. The 5.4k sf restaurant sits on 1.45 acres at 819 North 7th Ave.
Joseph Compagno and Benjamin Farthing of CBRE's Phoenix office represented the seller, loca...
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• Henderson, NV Apartment Property Sells for $175k/Unit
10/13/23
An 88-unit multifamily property in Henderson, NV was acquired by a private investor for $15.4 mil ($175k/unit). The property, Madison at Green Valley, is located at 2096 Ramrod Ave , south of Tropicana Ave on the west side of...
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• Prologis Closes $184 Mil AZ Industrial Buy
10/13/23
Global industrial real estate owner Prologis Inc recently closed on a large AZ buy, paying $184 mil for Airpark Logistics Center, a 170-acre, multi-building industrial park in Goodyear. The asset was sold by Creation and Cros...
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• New Built-to-Rent Community in Richmond, TX has Been Completed
10/12/23
Tricon Veranda, a new built-to-rent community in Richmond, TX, has been completed. Developed by Tricon Residential, Johnson Development Corporation, and HHS Residential the project consists of 90 single-family homes.
Locate...
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• Jackson Square Properties Closes $111 Mil Multifamily Buy in Denver
10/11/23
Jackson Square Properties has purchased Broadstone Kendrick, a 254-unit apartment community in Denver’s Uptown neighborhood, for $111 mil, or $437k/unit. The apartments are located at 1780 Marion St and 1160 E 18th Ave, acros...
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• Brixton Capital Acquires Recently Completed Phoenix Res Community
10/10/23
Brixton Capital acquired Alta Warehouse District, a Class A, 300-unit apartment community in Downtown Phoenix’s rapidly expanding Warehouse District. Completed in 2023, and developed by Atlanta-based Wood Partners, Alta Wareh...
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• CCRM Fertility Leases 20k sf at Austin, TX Class A Building
10/10/23
CCRM Fertility, a global pioneer in fertility treatment, research, and science, has signed a long-term lease for 20k sf at Drawbridge Realty’s newly completed Uplands Corporate Center II at 5301 Southwest Pkwy in Austin, TX. ...
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• Headwinds Persist in Phoenix Office Recovery
10/09/23
This report was provided by real estate services firm JLL
The latest numbers on the Phoenix office market as provided by the Phoenix Office of JLL point to a continued rise in negative net absorption and sublease inventory. ...
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