Monday, June 24, 2019

Tucson Lease Report June 17-21, 2019

This week's lease highlights include two large industrial leases, new retail including a City Tacos and the first dance studio coming to Vail. The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from June 17 thru 21, 2019. INDUSTRIAL – 6908 E. CENTURY...

CALCAP Advisors Sells Phoenix Apartments for $25.1 Million to Canadian Investor

PHOENIX, Arizona – Cushman & Wakefield represented 4337 North 53rd Lane, LLC, an entity formed by CALCAP Advisors of Pasadena, Calif., in the sale of The Colony. WREF Colony, LP, an entity formed by Western Wealth Capital of North Vancouver B.C., Canada, purchased the property located at 4337 N....

Owner/User Historic Office Central Corridor Phoenix Sold

PHOENIX, Arizona – Located near the Central Avenue Corridor, one half mile south of Thomas Road and 7th Street, this 5,500-square-foot freestanding building sold for $735,000, or $134 per square foot. The property benefits from good exposure along 7th Street, with over 41,000 vehicles passing per day. Nick Miner, CCIM...

Sterling Real Estate Partners Continues Expansion in Phoenix with Villas De...

Sterling Continues to expand in Phoenix, Acquires 301-unit apartment project, Villas De Azul Apartments Phoenix, AZ –Sterling Real Estate Partners continues to expand in Phoenix, Arizona and has acquired the 301-unit Villas de Azul Apartments. Sterling has acquired over $100M in three transactions this year. Villas de Azul was built in...

Accelerated Development Services Adds Vice President of Construction Management

Phoenix, Arizona -- Accelerated Development Services is pleased to announce that Dave Lambert has been hired as the Vice President of Construction Management for the company.  A 25 year veteran in the construction arena, Dave’s experience includes commercial and multi-family experience for projects totaling over $205 MM. “As our project...

Scottsdale Investor Acquires End Cap at Harrison Plaza in Tucson

Tucson, Arizona – Majestyk Tucson, LLC (Michael Bennian, manager) of Scottsdale purchased the property located at 2530-2532 S. Harrison Road and 9425 E. Golf Links Road, Tucson, Arizona for $375,000 ($117 PSF).   The approximately 3,200-square-feet of retail space in Harrison Plaza was built in 1997 and is the end...

Lee & Associates of Arizona and Idaho Sell Chandler Heights Marketplace...

Phoenix, Ariz. – Lee & Associates announced that it has arranged a $30.8 million ($247 PSF) sale of the Chandler Heights Marketplace, a 124,822-square-foot grocery anchored neighborhood shopping center located in Chandler, Arizona. The sale was a collaborative effort by two Lee and Associates offices, the Lee & Associates Idaho...

Pima County Board of Supervisors approves $3.9M in Outside Agency funding

PIMA COUNTY -- The Pima County Board of Supervisors on June 18 voted to extend a helping hand to 91 community groups whose missions compliment or supplement County services. The Board voted unanimously to approve $3,941,082 in Outside Agency (OA) funding for the 2019-20 Fiscal Year. The bulk of that...

Arizona’s Economy: Still Strong After All These Years

By George W. Hammond, Director and Research Professor, EBRC Arizona’s second quarter 2019 economic outlook update TUCSON, Arizona  - The Arizona economy continues its long winning streak. Employment is expanding, population growth is solid, and wages are rising. Further, Arizona continues to far outpace national growth rates. The only smudge...

Orion Senior VP joins the Scottsdale Bond Campaign’s Steering Community

Scottsdale, Arizona -- Senior Vice President of ORION Investment Real Estate's land sales division, Larry Kush, has joined the Scottsdale bond campaign's Steering Committee. Kush and the other new Steering Committee members were chosen because of their "significant and longstanding community ties in Scottsdale," according to The Scottsdale Independent. "My...

Quail Park of Oro Valley Sells for $36.5 Million

ORO Valley, Arizona – The newly constructed Quail Park of Oro Valley was sold to a New Jersey Investment Group PGIM Real Estate (Luke Gabay, vice president) for $36.5 million ($361,386 per unit) for the 101-units at 9005 N Oracle Road n Oro Valley. Located between Hardy and Calle Concordia...

Pima County Supervisors OK $400K in funding for tourism-related agencies

Funds support events, celebrations and programs that promote tourism in Pima County PIMA COUNTY –On Tuesday, the Pima County Board of Supervisors unanimously approved $400,000 in funding to outside agencies with attractions and tourism-related programs. Nine non-profit community agencies will receive financial support from the County to promote events, celebrations...
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