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• Merrick Leases 69k sf of Office Space in Colorado
8/30/23
Merrick, an engineering and architecture firm, has signed a 12-year lease for 69.2k sf at Greenwood 4 in Greenwood Corporate Plaza in Greenwood Village, CO. This lease keeps Merrick’s headquarters within the Greenwood campus ...
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• Rising Realty Partners Pays $23 Mil for North Las Vegas Biz Park
8/30/23
Northport Business Center, a 127.1k sf, six-building industrial park in North Las Vegas, was acquired by Rising Realty Partners in a $23 mil ($181/sf) deal. The property, located at 3825-3985 Cheyene Ave, was sold by MCA Real...
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• Kimley-Horn Leases 79k sf of Office Space in Phoenix
8/22/23
Leading engineering, planning and design firm Kimley-Horn has committed to a 78.7k sf lease at Camelback Arboleda. The lease relocates and expands Kimley-Horn’s regional Phoenix office to the Camelback Corridor submarket and ...
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• Brand new Colorado Industrial Project Trades for $8.5 Mil
8/22/23
Airpark North, a brand new, 36k sf Class A industrial project in Loveland, CO that was just delivered in August, sold for $8.53 mil ($237/sf). The vacant, freestanding building, located at 6987 Rickenbacker Rd, was acquired b...
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• Commercial Real Estate Financing Briefs
8/21/23
JLL CAPITAL MARKETS -- Chris Collins and Brad Vansant with JLL Capital Market arranged $16.7 mil in construction take-out financing for The Hobart, a 39-unit, Class A mid-rise multi-housing community located at 3050 W. 11th ...
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• New TX Dollar General Store Trades at 5.25% Cap Rate
8/21/23
A brand new, single-tenant property leased to Dollar General in Georgetown, TX traded hands in a recent deal that closed at a 5.25% cap rate. The tenant operates on a long-term absolute triple net lease and has proven to have...
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• 490k sf Goodyear, AZ Industrial Project Lands $39 Mil Refi Loan
8/18/23
Phoenix-based Baker Development Corporation (BDC), and New York’s Foundation Capital Partners (FCP), along with joint venture partner GTIS Partners, have secured a $39 mil refi loan for Yuma|143, a recently completed, 490.3k ...
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• ViaWest Group Picks Up 587k sf Phoenix Industrial Portfolio
8/16/23
ViaWest Group has acquired a six-building, 586.9k sf Phoenix industrial portfolio from Walton Street Capital. The buildings are all in prime infill locations within the greater Phoenix MSA. This acquisition brings ViaWest Gro...
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• City Lights Church Buys 48k sf Flex Building in Greeley, CO
8/16/23
City Lights Church paid $5.5 mil for a freestanding, 48k sf ($115/sf) flex commercial building in Greeley, CO. The property, located at 7251 W 4th St, was vacant at the time of sale.
Originally built in 1985 but renovated si...
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• Colorado Distribution Facility Bought for Just Under $30 Mil by Private Investor
8/16/23
Dove Valley Business Center, a 149.8k sf, warehouse distribution center in Englewood, CO, was traded to an undisclosed private investor in a $29.75 mil ($199/sf) transaction. The property was sold by Westcore.
Built in 2018...
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• Wood Investments Companies Secures $39 Mil in Refinancings on Two Idaho Retail Centers
8/15/23
Wood Investments Companies Inc has secured $39.1 mil in permanent loans for two prominent shopping centers in the Boise metropolitan area: Gateway Marketplace and CentrePoint Marketplace. Both shopping centers, situated in th...
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• Denver-Boulder Lab Vacancy Rises in Second Quarter, Remains Among Lowest Nationally
8/15/23
This report provided by CBRE
Momentum slowed in the second quarter for the U.S. life sciences real estate market, though several indicators portend long-term expansion for the sector, according to a new report from CBRE.
V...
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• HVAC/R Equipment Distributor Pays $267/sf for Nevada Owner/User Building
8/15/23
A 17.8k sf office/warehouse building located at 7440 Commercial Way in Henderson, NV sold for $4.75 mil ($267/sf). The buyer, R.E. Michel Company, one of the nation's leading wholesale distributors of HVAC/R equipment, parts ...
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• Presson Companies Buys 143k sf AZ Office Asset from LPC Desert West in $26.5 Mil Deal
8/15/23
Gainey Center, a three-story, 143.7k sf Class A office building in Scottsdale, AZ, was acquired by Presson Companies, headed by long-time Phoenix commercial real estate investor Daryl Burton, for $26.5 mil ($184/sf). The prop...
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• Seven-Property EoS Fitness Portfolio Trades for $94 Mil
8/14/23
A portfolio of seven single-tenant, EoS Fitness properties was acquired by a publicly traded REIT in a $94 mil transaction. Five of the assets are located in Arizona and two are in Florida.
The portfolio was comprised of thr...
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• Avondale, AZ Starbucks Relocates into Larger Store Next Door
8/11/23
Starbucks has leased a 3.1k sf store in Avondale, AZ. The store, located at 10655 W. Indian School Rd, features the Valley’s first-ever Starbucks double drive through with two order points.
The lease relocates Starbucks fro...
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• RADCO Companies Buys 143-Room Phoenix Hospitality Property
8/10/23
Atlanta, GA-based RADCO Companies acquired the Aloft Phoenix-Airport hotel, a six-story, 143-room hospitality asset in Phoenix. The price was not given out.
The Aloft Phoenix-Airport is a boutique hotel located at 4450 East ...
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• Westcore Closes $92.7 Mil Purchase of AZ Industrial Campus
8/09/23
Westcore has completed a $92.7 mil forward purchase of Hatcher Industrial Park from Ryan Companies US Inc. Westcore partnered with Ryan one year ago for the development of the 906k sf property, and this marks the completion o...
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• MCR Picks Up Two Arizona Hotel Properties
8/07/23
In a notable Arizona hotel trade, MCR has acquired the 169-room Holiday Inn Express & Suites Scottsdale – Old Town in Scottsdale and the 121-room Hampton Inn by Hilton Phoenix-Biltmore in Phoenix. The price was not disclosed....
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• Trion Properties Wraps Up $41 Mil CO Res Buy
8/04/23
Trion Properties has acquired Trailpoint on Highline, a 198-unit multifamily asset in Aurora, CO, for $41.1 mil ($209k/unit). According to Trion, their all-in basis is only $231k per unit, compared to the submarket average i...
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