Phoenix, Arizona – CBRE has arranged the sale of the 340-unit Class A multifamily community Summerly at Zanjero on behalf of Fore Property to a private investor for $78.5 million ($231,000 per unit).

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Fore Property.

Located at 7375 N. Zanjero Boulevard in the Glendale submarket of Phoenix, Summerly at Zanjero is a LEED Silver Designed multifamily com­munity including Energy Star-rated appliances and energy-efficient windows and lights. Built in 2019, the new community features condominium-level unit finishes and a market-leading amenity package with two resort-style pools with spas and cabanas, a state-of-the-art fitness center, and a resident clubhouse with resort finish­es.

“Summerly at Zanjero is the newest Class A community delivered in the West Valley,” said Anderson. “The community generated significant interest from investors looking to acquire a Class A asset in one of the top-performing markets in the nation.”

According to CBRE Research, year-over-year Class A multifamily rent growth in Phoenix was 8.2 percent in Q2 2019, the second-best increase for all U.S. metros.

New, smaller weapon increases firepower and maneuverability

TUCSON, Ariz. — Raytheon Company (NYSE: RTN) is developing a new medium-range, air-launched weapon called the Peregrine™ missile that is half the size and cost of today’s air-to-air missiles, yet delivers greater range and effect.

Developed to strengthen the capabilities of current fighter aircraft, the new, smaller Peregrine missile is faster and more maneuverable than legacy medium-range, air-to-air missiles, and doubles the weapons loadout on a variety of fighter platforms. Its sophisticated, miniaturized guidance system can detect and track targets at any time of day and in any weather condition.

“Peregrine will allow U.S. and allied fighter pilots to carry more missiles into battle to maintain air dominance,” said Dr. Thomas Bussing, Raytheon Advanced Missile Systems vice president. “With its advanced sensor, guidance and propulsion systems packed into a much smaller airframe, this new weapon represents a significant leap forward in air-to-air missile development.”

The Peregrine missile benefits from military off-the-shelf components, additive manufacturing processes and readily available materials to offer an affordable solution for countering current and emerging airborne threats.

George Oliver eyes October delivery for first tenant spaces, spec suites at $17 million renovation

PHOENIX, Arizona – The first phase of creative office space at George Oliver’s $17 million CASA redevelopment in Phoenix is heading toward an October completion with a host of pre-lease commitments in tow. The project, which totals 181,188 square feet of Class A office space, sits in the heart of Phoenix’s popular Uptown neighborhood.

Located off of the Piestewa Freeway/State Route 51 and Northern Avenue at 7878 N. 16^th Street, CASA is transforming a 1989-built commercial property into next-generation modernized office space. The building mixes rich Spanish architecture with lifestyle amenities designed around a focus on health and wellness to serve its tenants.

Confirmed pre-lease commitments at CASA include Rockwell Automation (26,805-square-feet), The Money Store (7,512-square-feet), Olsson (7,199-square-feet), Phoenix Association of Realtors (3,957-square-feet) and North & Co. and affiliates (leasing eight co-working suites). Local favorite Kaleidoscope Juice has also committed to a lease to operate an on-site café and lounge serving healthy food, coffee and juice.

“CASA is the next generation of office space,” said Curt Kremer, Founder and Managing Partner of Phoenix-based George Oliver. “That begins with flexible, modern workspace and extends into a carefully curated mix of amenities – all with the goal of creating a working community focused on the success and wellness of its tenants.”

Among the unique touches at CASA are transformed lobbies, a 60-guest conference center, a wellness center with yoga room, fitness center, on-site meditation room, elevated walking path, library, car charging stations and dog park. Two centralized courtyards with water features and seating serve as hubs for relaxation and collaboration. CASA also includes a two-story dining experience with dedicated food truck parking, shaded outdoor dining and outdoor games and lounge areas.

In November, George Oliver is also scheduled to complete its self-branded and operated coworking space at CASA, with rents from $800 to $2,900 per month. Its users will benefit from fully furnished suites with access to shared breakrooms, a private coworking lounge and multiple conference rooms. In addition to the coworking, the company will also deliver three spec suites at CASA ranging from 2,250-  to 8,663-square-feet and with fully furnished, move-in-ready options and popular comforts like open break rooms, glass offices, collaborative spaces and timeless custom finishes.

George Oliver purchased the CASA building, previously known as Catalina Terraces, in December 2018. The project sits at the base of the North Mountain Phoenix Preserve, minutes from the Piestewa Freeway/State Route 51 and with more than 13,700 apartments and 200 restaurants/bars within a three mile radius.

Ryan Timpani and Todd Noel of Colliers International are CASA’s exclusive leasing brokers. Arcadia Management manages the property and staffs an on-site tenant concierge. RSG Builders is the general contractor. Western Alliance Bank is the project lender. For more, visit www.uptowncasa.com.