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• Ensemble and DevMan Form New AZ-Based Entity
10/01/08
Ensemble Real Estate Services LLC and DevMan Company LLC have merged to form a new specialty real estate services company called Ensemble DevMan of Arizona. The new company will provide development, management, leasing and br...
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• Brown and Brown Spends some Green in Phoenix Office Renewal
9/25/08
We’ve got a couple of recent Phoenix office leases to report, one of which is for Brown and Brown Insurance of Arizona Inc, which inked a seven-year renewal for 20.2k sf of space at 2800 N. Central Ave, where they occupy the ...
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• Downtown Phoenix to Get Upscale Retail Center
9/23/08
A new 1 msf retail center planned for northeast Phoenix will be fully enclosed much of the time, but not always. That’s because it will feature a retractable roof that allows for an open-air environment when the weather is ni...
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• New Tempe Office Project to Add 260k sf to City’s Downtown
9/19/08
Construction on Tempe Gateway, a new eight-story, 260k sf mixed-use project in downtown Tempe, is well underway. The project, being developed by Opus West Corp in a joint venture with US Airways, will include efficient “green...
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• Investor Acquires Biggest Little Apartment Complex in Reno
9/15/08
Bristle Pointe, a 224-unit multi-family community in Reno, was acquired by a local private investor for $23 mil ($102.7k/unit). The property is situated on 11.2 acres at 2050 Longley Lane, east of Hwy 395 and south of I-80.
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• GSA Inks $7 Mil Office Lease at Phoenix Gateway Center
9/11/08
The GSA – the federal government’s General Services Administration – inked a new lease for 20.3k sf of office space at Three Gateway in Phoenix on behalf of the Transportation Security Administration. The 10-year lease has a ...
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• Gilbert Office Asset Trades for $10 Mil
9/04/08
A 73.3k sf office/ R&D building in Gilbert, AZ was purchased by Koll/PER for $10.15 mil ($138/sf). The single-story building is on a 5.2-acre site at 1405 N. Fiesta Blvd, within the Fiesta Tech Center, a master-planned indust...
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• WLA Investments Entity Sails into Snug Harbor
8/25/08
Snug Harbor, a 64-unit condo-mapped multi-family complex located at 2780 East Flamingo Rd in Las Vegas, was purchased by Snug Harbor Condominiums Las Vegas LP, with WLA Investments as managing partner. The property, which in...
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• Tucson Airport Hotel Changes Hands
8/20/08
Apple REIT Eight acquired the 128-room Hilton Garden Inn Tucson Airport hotel, located at 6575 South Country Club Rd, from Sunway Hotel Group, out of Overland Park, KS. The hotel, developed and built by Sunway, opened in Marc...
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• $5 Mil Phoenix Apartment Buy was an Executive Decision
8/19/08
Executive Plaza Apartments, a 92-unit, two-story garden-style multifamily complex located at 550 East Earll Dr in Phoenix was purchased by ColRich in a $5.2 mil ($56.5k/unit) transaction. The property is located across the st...
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• Memphis Buyer Looking for Lyon’s Share of Gilbert, AZ Apartment Market
8/18/08
Alexan Lyon's Gate, a 312-unit apartment community in Gilbert, AZ was purchased by a Memphis, TN-based investor for $35.25 mil ($113/sf). Located at 3301 East Ray Rd, the complex consists of 13 three-story buildings on a 15.3...
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• Now May Be the Time to Borrow in Phoenix
8/13/08
By John Smeck
Johnson Capital Principal/Managing Member
A few short years ago, Phoenix was among the leading cities in the country in terms of commercial development and residential home growth. When the city reached its pea...
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• Apartment Investor Gets a $17.7 Mil Surprise
8/11/08
Here’s the scoop on two recent Arizona apartment sales that we just learned about, one in Surprise and the other in Tempe. We’ll start with the larger of the transactions, as a Utah-based investor paid $17.65 mil for Canyon R...
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• Green Acres is the Place for A-American
8/04/08
In news of a self-storage sale from Reno, NV, A-American Storage Management paid $6.3 mil for Green Acres Self Storage, an 86k sf ($73/sf), single-story property located on 4.7 acres at 95 Green Acres Dr. The property was rou...
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• Bascom Group Closes $60 Mil Colorado Apartment Buy
7/31/08
The Bascom Group, the Irvine-based real estate firm that specializes in value-add apartment buys, recently closed on a large Colorado acquisition, paying $60.8 mil for Gleneagles Apartments, a 562-unit ($108.8k/unit) Class A ...
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• AZ Res Community Offers Resort Lifestyle for Active Adults
7/30/08
A growing active-adult community in Arizona provides an affordable lifestyle for adults aged 55 and older. Called Dolce Vita, the project offers amenity-laden homes that start in the $90k’s. The freestanding manufactured hous...
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• Opus Inks Five New Deals at Pima Center
7/24/08
Five new office tenants have inked deals at Pima Center, Opus West Corp’s 1 msf office campus located at the Loop 101 Fwy at Via de Ventura in Scottsdale, AZ. The new tenants -- Hemisphere GPS, New Horizons, Pierce-Eislen, Sa...
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• Sparks Fore-cast Calls for New Luxury Apartment Project
7/23/08
Fore Property Company has started construction on a 300-unit luxury apartment community located in the Spanish Springs area of Sparks, Nevada. The project will be built on a 20-acre parcel in the Pioneer Meadows master-planne...
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• Health Choice Makes a Healthy Office Space Choice in Phoenix
7/18/08
Health Choice Arizona, a managed care organization, recently inked a five-year lease for 43.3k sf of office space in Phoenix. The transaction gives the firm two floors at Three Gateway, part of the three-building Gateway Cent...
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• 670-Unit Vegas Apartment Complex Sold by AIMCO
7/11/08
Situated just 10 minutes from the Las Vegas Strip, Canyon Pointe is located adjacent to the Nevada Palace Hotel and Casino and the newly developed Eastside Cannery Hotel and Casino. The site boasts views of Sunrise Mountain ...
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