Monday, May 21, 2018

C&W Phoenix Sells Las Vegas Shopping Center for $15 Million

Cushman & Wakefield Sells Second Shopping Center for Weingarten Realty PHOENIX, Arizona – Cushman & Wakefield completed the sale of Tropicana Marketplace, a Smith’s anchored shopping center located at 6120-6180 W. Tropicana Avenue in Las Vegas, Nev., for $15 million ($216 PSF). Tropicana Square LLC purchased the property from Houston-based...

Raytheon dedicates new facilities at Missile Systems business

Raytheon expands capacity to build advanced systems of the future TUCSON, Ariz. -- Raytheon Company (NYSE: RTN) executives, along with federal, state and local officials, and local business leaders, dedicated new facilities at Raytheon Missile Systems. This is part of a large-scale expansion and modernization project to increase capacity and capability...

Arizona commercial real estate industry scores key victories at just-completed legislative...

PHOENIX, ARIZONA – The 2018 state legislative session that adjourned on May 4 was productive for Arizona’s commercial real estate industry as BOMA Greater Phoenix had a 5-0 record on bills on which it took a position. The biggest joint victory for BOMA was a grand compromise on GPLET reform....

Churchill Commercial Capital Arranges $10.52 Million in Acquisition Financing

Scottsdale, Arizona -- Churchill Commercial Capital, Inc. (Cynthia Hammond, President and Ryan Bailey) has arranged an $2.52 million loan for a private investor to acquire the Harbor View apartment community in Phoenix, AZ. The community is located off of 38th Street and McDowell in Phoenix. The property is 52-units. Ryan...

Avilla Sabino I & II Sells for $42.3 Million, Hits Highest...

Highest per unit price recorded for non-student housing with 40+ units in the Tucson TUCSON, ARIZONA – Alta Vista Communities of Tucson, an affiliate of Aerie Development (Roger Karber, manager) sold Avilla I & Avilla II luxury communities on the southeast and southwest corners of River and Sabino Canyon Roads...

5151 E. Broadway Announces Assistant Property Management Hire

Tucson, AZ – 5151 E. Broadway has announced a new Assistant Property Manager at Tucson’s largest commercial office building. Cheryl La Plant has been hired to assist property manager, Heide Foley at the iconic tower. Foley said, “Cheryl’s soft skills integrate perfectly into our team. She also has a strong...

Barrow AI suite, CTCA suites, senior living facility, Arizona Care Network...

PHOENIX, ARIZ. – Iconic Design Studio continues to provide comprehensive interior design services for diverse client projects. They include a suite at Barrow Neurological Institute for a cutting-edge radiologist using artificial intelligence; satellite suites at Cancer Treatment Centers of America; a 15,000-square-foot new headquarters for the Arizona Care Network; and a...

Aaron Gordon joins Earthworks Environmental as compliance manager

GILBERT, ARIZONA – Earthworks Environmental, LLC has expanded its Arizona operation with the hiring of  as a compliance manager. Prior to joining Earthworks Environmental, Gordon worked for 10 years in the primary fields of environmental due diligence and contaminated site management for both regional and multi-national environmental consulting firms. Most recently...

Tucson Student Housing 4-Plex Fetches $2.85 Million for 32-Beds

TUCSON, ARIZONA – Student Housing at 50 N Mountain Ave. in Tucson sold for $2.85 million ($89,000 per bed) to investors from Glendora, California by a Family Trust in Los Osos, California. The newer construction (built 2015) was built for student housing within 3 blocks of the University of Arizona....

Colliers: Rents and Sales Prices Are Rising in Phoenix Multifamily Market

Hot Market Strengthens Further in First Quarter Phoenix,  Arizona – Colliers Research Department is reporting the Greater Phoenix multifamily market started off the year hotter than ever, as vacancy continued to drop and both rents and sales prices trended higher. The vacancy dropped 50 basis points during the first three...

The Crossing at Sahuarita Shopping Center Holds Ribbon Cutting Ceremony

Sahuarita, Arizona -- Wadsworth Development Group in partnership with Accelerated Development Services held a ribbon cutting and grand opening ceremony Monday at The Crossing at Sahuarita Shopping Center in Sahuarita, Arizona. The 150,000-square-foot center boasts a Sprouts Farmers Market, TJ Maxx, PetSmart, Beall’s Outlet, and several restaurants and shops to compliment...

Vail, AZ is New Hotspot for Residential Lot Sales in April

TUCSON, ARIZONA – Residential lot sales in Tucson metro area totaled $1.8 million for the month of April, with the most lots being sold in the Vail area, in the southeast submarket of Tucson. KB Home Tucson purchased 42 lots at Mountain Vail Reserve from Civano Nursery of Tucson (Alex...
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