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Redevelopment on Phoenix Mixed-Use Buildings Nearing Completion 12/19/07 Redevelopment work by Highland Development Company on 375k sf of mixed-use buildings in Phoenix is about 80% complete. The property is a 28-acre parcel of land that Highland purchased from Portland-based SkanlanKemperBard Com...
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Large Avondale, AZ Site Acquired for Industrial Development 12/13/07 A large chunk of land in Avondale, AZ was acquired by an investor for future industrial development. The 11-acre site, located at the Rio Estrella Commerce Park on Eliseo Felix Jr. Way and East Van Buren St, just off I-10, tr...
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Newmark Realty Capital is the Financing Authority in Vegas 12/11/07 Newmark Realty Capital arranged permanent financing of $104 mil on a new Class A office building in Las Vegas. The building, the Southern Nevada Water Authority’s (SNWA) new HQ location, contains 280k sf over 17 floors and is...
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Specialty Finance Group Arranges $24 Mil for Yuma Hotel/Conference Center 12/03/07 The developer behind the new $30 mil Hilton Garden Inn and Riverfront Conference Center in Yuma has secured financing for the first major components of the much-anticipated and historically significant Pivot Point redevelopme...
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John Smeck is Johnson Capital’s Sundance Kid 11/29/07 Johnson Capital arranged $50.8 mil in permanent financing for the Sundance Towne Center, a recently completed 635k sf community retail center situated in the center of Buckeye, an Arizona town located roughly 35 miles west of...
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Vegas Office Complex Sells for $24.8 Mil 11/28/07 Commercial real estate in Las Vegas is doing a lot better than the residential market in the region these days, as investors are still attracted to the underlying fundamentals in office and industrial properties in the area. ...
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Dwyer-Curlett Arranges $17.8 Mil for Pair of Vegas Flex-Tech Buildings 11/27/07 Here are a few deal briefs from the Southwest towns of Las Vegas, Phoenix and Scottsdale. We’ll lead off by letting you know about a financing transaction, as Dwyer-Curlett arranged $17.8 mil in acquisition money for two flex...
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Transpacific Closes $22 Mil Phoenix Office Buy 11/26/07 Transpacific Development Company, the Torrance-based development and investment firm, recently added another substantial asset to its portfolio with the acquisition of a 92k sf office building in Phoenix, AZ. The four-story, ...
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Quarterpenny Picks Up 270-Unit Tucson Complex 11/15/07 Tucson-based Quarterpenny Company has purchased Tamarack, a 270-unit apartment community located at 1111 West St. Mary's Rd in Tucson, for $10.5 mil ($38.9k/unit). Built in 1985, Tamarack is an interior gated-community compri...
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Phoenix Buyer Spends $21 Mil for University Education 11/12/07 A four-property, 268-unit apartment portfolio in Tempe, AZ was acquired by a Phoenix investor for $21.4 mil ($79.9k/unit). The assets, known as the University Properties are: University Place; University Pointe; University Sq...
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Tempe Industrial Sale has Baseline Price of $9.5 Mil 11/09/07 Baseline Industrial Center, a 109.7k sf five-building, multi-tenant industrial complex situated on 5.24 acres in Tempe, AZ, sold for $9.54 mil ($87/sf). The property is located at 5235, 5245 and 5255 South Kyrene Rd, at the i...
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North Vegas Development to be Joined by World Class Restaurateurs 11/06/07 Two world-class restaurateurs are heading to the northwest Las Vegas suburbs for their first foray out of their respective New York and California markets. The new restaurants will be part of The Village at Queensridge, a 29...
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CT Realty Heads for the Hills in Arizona 11/01/07 Newport Beach-based CT Realty Corp has begun construction of a new 11.5k sf office building along Monterey Dr, just east of the intersection of E Shea Blvd and N Saguaro Blvd in Fountain Hills, an Arizona town located about 3...
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Vegas Office/Flex Buildings Sold for $30 Mil 10/25/07 Two Las Vegas office buildings, totaling 98k sf, were purchased by investors for $30.2 mil (308/sf). The properties were sold by a venture of CIP Real Estate and Buchanan Street Partners, which acquired the facilities as part...
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Older Phoenix Apartment Property Fetches $75k/Unit 10/18/07 A Portland investor group paid $9 mil for the Monarch Apartments, a 120-unit ($75k/unit) property located at 77 W. Coolidge St in Phoenix, AZ. Built in 1974, the eight-building community is situated on 3.34 acres and is compr...
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Shidler Scores Hat Trick at US Bank Center in Phoenix 10/17/07 Three companies have recently inked leases, totaling 23.7k sf of space, at US Bank Center, the 31-story, 371.7k sf office tower at 101 North First Ave in downtown Phoenix. The building is owned by The Shidler Group, out of Sa...
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GSP Arranges $58 Mil in Construction Money for AZ Res Project 10/09/07 George Smith Partners has arranged a $57.8 mil construction loan to finance the development of Reflections on the Canal, a 100-unit luxury town home/condo project in downtown Scottsdale, AZ. The project will be located on 5....
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HPC Purchases Sparks Center for $6.6 Mil 10/08/07 HPC Properties Inc has purchased Wildcreek Plaza, an 18k sf retail center located at the northwest corner of North McCarren Blvd and El Rancho Dr in Sparks, NV, for $6.65 mil ($369/sf). The project, completed in 2006, is just...
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Media Company Takes Over 60% of AZ Office Tower 10/05/07 NCS Pearson Inc, a global media company, took 135.5k sf of office space in Chandler, AZ, after inking a 13-year lease at a five-story tower at 3075 W Ray Rd, part of The Park at San Tan project located just west of Loop 101/P...
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Mammoth Office Sale in Scottsdale 10/04/07 An investment entity paid $22.4 mil for the Mammoth Professional Building - Scottsdale Atrium East, a 71.5k sf ($313/sf) two-story office building situated on 3.88 acres at 14300 North Northsight Blvd in Scottsdale, AZ. The C...
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