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.

A jump in occupancy of 10% over last year.

Tucson, AZ — 5151 E. Broadway | Kent Circle Partners (Scott Seldin, President), announces three new tenants, five renewals, and a significant uptick in traffic from out of state companies. Verifone, Inc. has leased a 13,196-square-feet, Williams Sound, LLC 2,851-square-feet, and Dean Alan Architects, PLLC 1,837-square-feet. Richard M. Kleiner and Thomas J. Nieman, Cushman & Wakefield | Picor Real Estate Services represented the owner in 2019’s new transactions and renewals totaling 38,941-square-feet.

Verifone, Inc. will occupy their full-floor offices on November 1^st. Verifone is a leading global provider of payment and commerce solutions, and is building a customer support center in the space to provide first-class global customer service operations. David Montijo, CBRE Tucson and Stephen Salomon, CBRE affiliate Broker represented the tenant in this transaction.

Williams Sound, LLC is moving in the building early September. They have served professional communication needs worldwide since 1976. Offering digital, FM, infrared and induction loop wireless audio, as well as video annotation, presentation and conferencing systems. Dave Blanchette, NAI Horizon Real Estate represented the tenant in this transaction.

Dean Alan Architects, PLLC occupied their 10^th floor space September 1st. They are full service, woman owned firm, providing architectural services, including site planning, program development, building design, owner’s representative services, sustainability services, construction administration, and interior design. Robert Davis Partner, Tango Commercial Real Estate represented the tenant in this transaction.

To date, 2019 renewals have reached 14,215-square-feet. Dr. Brian Walker, Stantec, Lesher and Corradini PLLC, AccentCare and Mayfield Financial have renewed and or expanded.

The lobby at 5151 E. Broadway is the next upgrade project expected to be completed early 2020. This is following a two-year, 8 million-dollar, renovation program.

Kent Circle Partners | Seldin Real Estate, Inc. of Scottsdale (Scott Seldin, President) – The privately owned commercial real estate and investment company maintains holdings in retail, office, apartments and land. Kent Circle Partners specialize in acquiring high-quality mixed-use real estate assets.