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Tucson Lease Report

Tucson Lease Report

The following commercial leases were reported to Real Estate Daily News for the Tucson Lease Report from August 25 – 29, 2014.

AMCOR Rigid Plastics USA, Inc. renewed their lease 83,139-square-feet at 6161 S. Palo Verde Road in Tucson, from Cobalt Industrial REIT IIRob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord. Greg Kloiber and David Stechley with TG Corporate Real Estate Advisors represented the tenant in this transaction.

APX International, Inc. leased 20,078-square-feet at 2106 N. Forbes, Suite 101 & 102 in Tucson from… Read more

Phoenix Lease Report

Phoenix Lease Report

The following leases were reported during the week of August 25-29, 2014 to the Phoenix Lease Report:

CBRE has completed two office leases totaling 67,335-square-feet in Metropolitan Phoenix. The leases are representative of new office requirements by the State of Arizona for the newly created Child Safety and Family Services agency (CSFS).

A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties and located at 1860 N. 95th Lane in Phoenix, will service CSFS’s West Valley clients. 1860 N. 95th Lane is a three-story, class A office building located within the West 101 Corporate Center master-planned business park. The… Read more

IO exterior Phoenix

Exterior of IO Phoenix data center, acquired by Carter Validus. (Photo: IO)

PHOENIX, AZ - IO, a worldwide leader in software-defined data center technology, services, and solutions, announced a partnership with Carter Validus Mission Critical REIT, Inc. (CVMC REIT) through which CVMC REIT acquired 100% interest in the real estate containing the IO Phoenix and IO Scottsdale data centers. CVMC REIT immediately leased the data centers back to IO in a sale-leaseback transaction. The combined transaction was valued at $125 million.

The financial transaction will have no impact on operations in the two data centers, where IO will continue to support customers on a “business as usual” basis. IO also leases its properties in New Jersey and Singapore.… Read more

Overall AerialTucson, AZ – Union Pacific Railroad purchased 1.64 acres at the southwest corner of Kino Parkway and 22nd Street from The City of Tucson for $400,000 ($5.60 PSF). The Union Pacific train yard is nearby.

Ian Stuart, Ben Becker and Adam Becker of CBRE in Tucson represented the City in the transaction and has the marketing assignment for the two remaining development land parcels at the northeast and southeast corners of Kino Parkway Overpass and 22nd Street intersection.

The parcels, totaling a little under 8.5 acres, were acquired for the Kino Overpass project and will be surplus when the project is completed this year. The parcels are in the City of Tucson and are essentially… Read more

Reserve & White house Real Estate Daily NewsReal Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

The Dow Jones Industrial average gained 18.88 points, or 0.1%, to 17,098.45. The S&P 500 index finished up 6.63 points, or 0.3%, to 2,003.37. The NASDAQ composite added 22.58 points, or 0.5%, to 4,580.27.

Benchmark U.S. crude rose $1.41 to close at $95.96 a barrel on the New York Mercantile Exchange. Brent crude, a… Read more

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