GLENDALE, Ariz. – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Maryland West, a 100-unit apartment property in Glendale, Arizona. The $26.5 million sales price equates to $265,000 per unit.

“Maryland West’s oversized apartment homes, comprised of 90% two- and three-bedroom units, low-density site plan, and the absence of broad-based renovation history make it an excellent candidate for a value-add strategy supported by the Phoenix metro’s rapid pace of household formation and expanding job economy,” said Cliff David, IPA executive managing director. David and Steve Gebing, IPA executive managing director, represented the seller, CRSC Residential Inc., and procured the buyer, Silver Star Real Estate.

Maryland West was built in 1970 on less than five acres near 43^rd Ave. and Glendale Ave. with frontage along McLellan Road. The Interstate 17 Employment Corridor is in close proximity, coupled with additional employment opportunities located throughout nearby Midtown and Downtown Phoenix. The area’s healthcare industry maintains a strong presence near the property with 30,700 medical professionals within a seven-mile radius. Grand Canyon University, as well as shopping and entertainment at the Westgate Entertainment District are a short distance away.

Residents of Maryland West have access to a community laundry facility, basketball court,  playground and covered parking. The average apartment size is 807 square feet.

PIMA COUNTY, ARIZONA – Work to finalize the closure and repurposing of the Ina Road Landfill will begin May 23.

The area, located on the east bank of the Santa Cruz River south of Ina Road, was previously used as a landfill for construction debris.

Final closure of the landfill requires applying a 24-inch layer of soil over the area. Later, hydroseeding will be done to vegetate the area and prevent runoff.

The work will create some disruptions to the adjacent Chuck Huckelberry Loop during construction but will not cause closures. Ramps will be placed on the path to protect it from construction vehicles crossing the Loop on the north side of Cañada del Oro Wash where it meets the Santa Cruz River, an area south of Mike Jacob Sports Park, 6901 N. Casa Grande Highway.

Loop users are advised to be aware of construction activity and obey warning signs and flaggers during haul hours.

Dates:  May 23 – Nov. 31, 2022

Work times: Mondays – Fridays,  2 – 10 p.m.

Phoenix, Arizona – Conor Commercial Real Estate has expanded its Southwest Regional Office in Phoenix, Arizona. Kris Miller joins the firm as Senior Development Manager. In this role, he will manage the firm’s industrial development initiatives throughout the southwestern and western United States.

Conor Commercial Real Estate is the integrated real estate development and investment arm of The McShane Companies headquartered in suburban Chicago, Illinois with regional offices located in Phoenix, Dallas and Irvine.

“We are so pleased to have Kris join the Conor team,” shared Sven Tustin, Executive Vice President at Conor. “With experience in both construction and development, Kris significantly increases the technical capabilities of our team in Phoenix.  As we expand our development activities throughout the Mountain West states, Kris will be a key component to our success.”

Miller comes to Conor with 12 years of industry experience. Prior to joining the firm, he served as a Senior Project Manager for McShane Construction Company and, most recently, as Director, Development Services for VanTrust Real Estate.

His initial focus at Conor will be on the development of Central Industrial Center, a three-building, 1.1 million-square-foot speculative industrial development in Stockton, California. Additionally, he will play an integral role in supporting new pursuits.

Miller graduated from Arizona State University with a Bachelor of Science in Civil Engineering and earned his Master of Business Administration from Grand Canyon University.

Conor Commercial Real Estate is active on a local, regional and national basis in the development of speculative and build-to-suit industrial, office and multi-family communities. For more information on Conor Commercial Real Estate, visit the firm’s website at www.conor.com.

PHOTO: Kris Miller