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• Phoenix Apartment Market in State of Flux
1/20/09
The Phoenix apartment market is expected to remain in a state of transition in 2009 due to a considerable supply/demand imbalance. That’s the outlook according to the 2009 National Apartment Report from Marcus & Millichap, th...
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• Hines Closes $66 Mil CO Portfolio Buy
1/14/09
Hines Real Estate Investment Trust, the big Texas-based owner/developer, closed on a substantial Colorado portfolio acquisition, having paid $66.5 mil for three buildings totaling 484.7k sf ($137/sf) of space. The properties,...
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• CommScope Inks Lease for 120k sf of Distribution Space in Reno
1/12/09
CommScope, a leader in infrastructure solutions for communication networks, inked a lease for 120k sf of recently completed industrial space at Patrick Industrial Park, a distribution park located east of Reno in McCarran, NV...
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• $9 Mil LA Retail Opportunity is Fresh & Easy
1/08/09
Here’s the scoop on two recent retail investment listings, one in the LA area and the other in Phoenix, both offered at close to $10 mil. Investors searching for an Arizona acquisition might want to check out a three-property...
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• Colorado Apartment Complex Sells in $15 Mil Deal
1/05/09
A 268-unit apartment complex in Aurora, CO traded hands in a $15.1 mil sale that values the property at about $56.3k/unit. The asset, Turnberry at Heather Ridge, is located at 2038 South Vaughn Way, south of I-70 between I-25...
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• AZ Deal Review
12/29/08
We’ve got a quick update on a few deals from Arizona with three office leases from Phoenix and an industrial purchase from Chandler. Starting in Phoenix, Brown Mackie College inked a 10-year lease for 24.8k sf of Class A offi...
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• Ruffin to Spend $775 Mil in Pirate Booty for Treasure Island
12/19/08
Treasure Island, the popular resort/casino situated on 35 acres in the heart of the world-famous Las Vegas Strip, is about to trade hands. Phil Ruffin, the Wichita-based billionaire investor with a taste for Vegas mega-deals,...
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• 246-Unit Tucson Apartment Property Trades in $18 Mil Deal
12/18/08
Skyline Gateway, a 246-unit apartment community in Tucson, traded hands in a recent $18.4 mil ($74.8k/unit) transaction. The property is located at 4601 East Skyline Dr, west of Swan Rd and north of Sunrise Dr.
Constructed i...
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• AZ Dept of Water Resources Renews 75k sf in Phoenix
12/12/08
In recent office leasing activity from Phoenix, the Arizona Department of Water Resources inked a five-year renewal for 74.5k sf of space at Meridian Bank Tower, located at 3550 N. Central Ave, north of I-10 and east of I-17....
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• Intercontinental Real Estate Nabs $46 Mil Tucson Portfolio
12/10/08
Boston-based Intercontinental Real Estate Corporation closed on its second big West Coast real estate buy in the last week or so, having paid $46.3 mil for a 606k sf ($76/sf) industrial/R&D portfolio in Tucson. We’re told tha...
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• Reno Apartment Complex Fetches $56 Mil
12/04/08
Montebello at Summit Ridge, a 450-unit luxury apartment community in Reno, Nevada, traded hands in a recent $56 mil transaction that valued the property at about $124k per unit. The property is located at 5200 Summit Ridge Dr...
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• The HEAT is On in Lake Havasu
12/03/08
Hotel activity in Arizona’s Lake Havasu area is starting to heat up, now that renovation and expansion work was just completed on the former Agave Inn, since renamed HEAT Hotel. Situated alongside the London Bridge on the sho...
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• Bascom Nabs $32 Mil Colorado Apartment Property
12/01/08
Saddle Ridge Village Apartments, a 320-unit Class A property in the exclusive Saddle Rock subdivision of Aurora, CO, recently traded hands in a $32.25 mil transaction, which valued the asset at $100.8k/unit. The property, sit...
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• LNR Boosts Marketing Efforts for Its 3.5 msf Salt Lake City Development
11/26/08
If you want to get a sense of the larger commercial real estate projects in Utah, you’ll want to check out the website for Bangerter Crossing Business Park, a massive, 160-acre 3.5 msf development from LNR Property Corporatio...
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• JC Penney to Anchor New Chandler, AZ Retail Project
11/24/08
Despite many reports about the potential oversupply of retail in Arizona, Opus West Corporation is starting off on the right foot at its Mill Crossing development, where it has already locked up a number of tenants for Mill C...
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• Johnson Capital’s Denver Office Closes $120 Mil in 3rd Qtr Deals
11/21/08
Demonstrating that financing deals can still get done in these difficult times, the Denver office of Johnson Capital closed roughly $120 mil in financing for a variety of property types over the past quarter. The office, led ...
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• Trigild Appointed Receiver for Eight Properties Across the Country
11/17/08
Trigild, a distressed property management, loan recovery and real estate receivership specialist headquartered in San Diego, has been appointed receiver for eight residential and hospitality projects -- in Seattle, Fresno, Pe...
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• Scottsdale Retail Center Achieves $630/sf Price Tag
11/13/08
The Shops at Zócalló, a 26.6k sf multi-tenant retail center in Scottsdale, AZ, was purchased by Emerson Properties Inc for $16.75 mil, or $630/sf, in a deal that we’re told represents the highest price per square foot ever ac...
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• Donahue Schriber Closes $50 Mil AZ Retail Buy
11/11/08
Fine Foods, an upscale gourmet market with 14 locations in Arizona. Casa Paloma is 99% leased and also counts Sur la Table, Talbots, Banana Republic, Ann Taylor, Bath & Body Works, Chico's and several strong local merchants a...
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• American Realty Advisors Picks Up 304-Unit CO Multifamily Asset
11/05/08
American Realty Advisors, the Glendale-based real estate investment manager led by Stanley Iezman, closed on a large Colorado acquisition -- Brookside Village, a 304-unit apartment community in Greenwood Village, a town of ro...
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