Tuesday, July 16, 2019

Landsea Homes Acquires Pinnacle West Homes to Boost Arizona Homebuilding

Newport Beach, Calif. – Landsea Homes, a leading homebuilder of vibrant master-planned communities in prime locations, announced it has acquired Pinnacle West Homes, a Phoenix-Mesa-based developer providing unique, value-based single-family homes in 15 Phoenix-area communities. As part of the acquisition, Landsea Homes acquired 15 communities in four areas, and more...

Townsend Medical Collaborative spec MOB to bring up to 100K SF...

TUCSON, ARIZONA -- The Townsend Medical Collaborative, a 60,000 – 100,000-square-foot spec Class A medical office building (MOB) is planned for the Pima Medical Institute Campus at 2121 N Craycroft Road in Tucson. Located southwest of Grant off Craycroft, the property is adjacent to Tucson Medical Center and TMC...

ORION Facilitates Sale of Leading Edge Academy Anchored Shops

GILBERT, Arizona – Located in the highly desirable town of Gilbert, on the southeast corner of Cooper and Ray Roads, Cooper Square sold for $2,827,500 ($183 PSF).  Comprised of two multi-tenant shop buildings totaling 15,462 square feet, the shop buildings are anchored by Leading Edge Academy, a K-12 Charter...

Expansion-Minded Dutch Bros Going in at 22nd St & Alvernon Tucson

TUCSON, ARIZONA -- Cole Valley Partners, LLC purchased 1.14 acre at the NEC 22nd Street and Alvernon Way from Kettenbach, LLC  (Michael Kettenbach, manager) for $925,000 ($18.57 PSF). The property was a former Shell Station and sold with 2,145-square-feet of improvements. The buyer intends to raze the existing improvements and...

Arizona Self-Storage Association elects 3 new board members; re-elects 7 board...

PHOENIX, ARIZONA – Arizona Self-Storage Association, the trade association that represents the self-storage industry in Arizona, recently elected three new board members and re-elected seven board members. Newly elected board members are David Brown, Wentworth Property Company; Matthew Hall, Stadium Properties / Dollar Self Storage; and Belinda Rosthenhausler, Clear Title...

ULI Arizona receives $30,000 to study affordable housing, Vitalyst Health Foundation...

PHOENIX, ARIZONA – The Urban Land Institute Arizona District Council (ULI Arizona) was recently awarded a $20,000 grant from global ULI’s Building Healthy Places Initiative, with support from the Robert Wood Johnson Foundation, to convene a local task force to study the intersection of health and housing in Arizona. A...

Oakwood Terrace Apartments in Tucson Sells for $2.35 Million

TUCSON, Arizona – California investors, Ava Terrace Apartments, LLC, Marcus & Jodi Bannon, members) purchased Oakwood Terrace Apartments at 2740 & 2750 N. Balboa Avenue in Tucson for $2.35 million ($40,517 per unit) as a value-add investment. Built in 1963 on 2.48 acres, Oakwood Terrace Apartments is a 58-unit complex...

Phoenix’s emerging South Mountain Loop 202 submarket chosen for new Commerce...

SM202 Commerce Park to Feature 700,000 SF of Class A Spec Industrial Space Phoenix, AZ– Trammell Crow Company (TCC) announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700,000...

Lee Street Property Rezoning Paves way for 12 New Homes

TUCSON, ARIZONA -- Tucson’s Mayor and Council have approved a rezoning request from Lee St. LLC for 2.38 acres of residential property on Tucson’s far east side. The property, a beautiful piece of land at 8211 E Lee Street, has now been approved for rezoning from RX-1 to R-1. The...

Spectrum Medical Commons in Gilbert trades in robust submarket

JLL completes $17.75M transaction between two Wisconsin-based healthcare RE firms PHOENIX, Arizona – Bolstered by a booming medical office market, strong demographics and an institutional-quality asset, two Wisconsin-based real estate firms have traded hands on a Gilbert, Arizona medical office building called Spectrum Medical Commons. The $17.75 million deal represents a...

Hanley Investment Group Arranges Sale of $7.6M Retail Pad Building at...

Multi-tenant retail building occupied by The Habit Burger Grill, Tempur-Pedic, Pearle Vision and Blaze Pizza sells for $901 psf. GLENDALE, Ariz. - Hanley Investment Group Real Estate Advisors, announced tthat Executive Vice President Bill Asher and Vice President Jeff Lefko have arranged the sale of a multi-tenant, pad building shadow-anchored...

Two Owner User Units at Mesquite Corporate Center Change Hands

TUCSON, ARIZONA -- The River 5, LLC (Otto R Bohon, Jr., manager) purchased a 3,926-square-foot office condominium, Suite 208, located in Mesquite Corporate Centre, 1640 E. River Rd. in Tucson.  The class-A office condominium was purchased from the George and Jane Caughman Family Trust of California for $778,989 ($198...
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