Thursday, April 18, 2019

Maracay Debuts Deseo A New Peoria Community This Weekend

Deseo offers estate-sized homesites with RV garage options PEORIA, Ariz.– Maracay is debuting Deseo with a grand opening celebration on Saturday, April 27. Located at 77th Avenue and Pinnacle Peak Road, the new home community is comprised of 94 homesites that offer RV garage, accessory garage and casita options on...

Verona Park Apartments in Mesa Sell for $43.75 Million

Utah Investor Plans to Complete Renovations of Community in Popular Infill Location Phoenix, Arizona –  Bridge Investment Group of Salt Lake City has purchased the Verona Park apartment community at 1666 S. Extension Rd. in Mesa for $43,750,000 ($144,000 per unit).  The Utah investor plans to complete modernization of the...

Jackson-Shaw and LaPour Partners Break Ground on Urban Insutrial Development Parc...

JLL Granted Leasing Assignment for Development Slated to Open CHANDLER, ARIZ. -- Dallas-based Jackson-Shaw and Las Vegas-based LaPour Partners announce the groundbreaking of Parc Germann, a 224,471-square-foot, two-building urban industrial development in Chandler, Arizona. Building A is located at 2215 E. Germann Road and Building B is located at 2225...

Churchill Commercial Capital funds $6.85 Million on 3 flex industrial buildings

Churchill Commercial Capital, Inc. (CCC), has recently funded three permanent loans on three individual flex industrial buildings in the Scottsdale Airpark. The combined loans of $6,850,000 replaced an existing bank note. New funding was provided through one of  CCC’s correspondent life insurance companies The loans featured interest rates in...

Phoenix office market absorption hits 10-year quarterly high

Q1 JLL Office Report denotes more than 1 million square feet absorbed since first of year PHOENIX, Arizona – According to JLL’s Q1 Phoenix Office Market Report, metro Phoenix has absorbed more than 1 million square feet of office space since the first of the year – a quarterly high...

Tucson Industrial Realty Handles Sale of Two Tucson Industrial Buildings

TUCSON, Arizona – Dave Gallaher, CCIM, of Tucson Industrial Realty has announced the closing of 4625 South 3dr Avenue in Tucson for $850,000 ($36.80 PSF) for the sellers, James and Patricia Novak to Howard Tran, the buyer. Seller was motivated since having sold the business ACS International, formerly known as...

Clear Sky Capital Sells Scottsdale Apartments for $26.15 Million

Cushman & Wakefield Negotiates Sale of 164-Unit Value-Add Apartment Community PHOENIX,  Arizona – David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented an entity formed by Phoenix-based Clear Sky Capital, LLC in the sale of Tatum Place, located at 16801 N. 49th Street in Scottsdale, Ariz. Tatum Investment Partners,...

President Signs Drought Contingency Plan Legislation

PHOENIX, ARIZONA – President Donald Trump today signed legislation formalizing the Drought Contingency Plan (DCP) — a crucial step toward full implementation of the agreement to conserve more water in the Colorado River system. The legislation directs the Secretary of the Interior to adhere to the agreements previously adopted...

ORION Leases and Sells North Scottsdale Retail Development

SCOTTSDALE, Arizona – ORION Investment Real Estate comes full circle with a newly developed retail center in North Scottsdale. Selling off market for $6.15 million ($430.67 per-square-foot), the grocery-anchored development traded at a low 6% cap rate with a rent guarantee on the last vacant space. The 5-tenant building...

Highway Hounds: Pima Animal Care taking dogs to Utah pet sanctuary

PIMA COUNTY – Pima Animal Care Center will relieve overcrowding at its shelter by taking about a dozen dogs to the Best Friends® Animal Sanctuary in Kanab, Utah. The pets hit the road Wednesday at 6:30 in the morning. The sanctuary is home to nearly 1,600 homeless animals. PACC’s...

Tucson Lease Report April 8-12, 2019

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from April 8 thru 12, 2019. INDUSTRIAL – 6630 S. MEMORIAL PLACE, TUCSON Wal-Mart Stores East, LP renewed a lease for a 70,000-square-foot warehouse space located at Century Park 6630 South Memorial Place...

Q1 2019: Office Market Off & Running

Phoenix, Arizona -- Colliers International of Greater Phoenix is reporting, fresh off a banner 2018, Phoenix saw continued growth in the first quarter. During the 12-month period ending in February, preliminary estimates show that employers added nearly 64,300 net new jobs, an increase of 3.1 percent which places Greater...
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