Investment Archives

BH Properties buys Plaza at Squaw Peak for $25M

Plaza SQ_PHOTO, WEB

On behalf of their client, IX CW Plaza Squaw Peak, LP, (an affiliate of Starwood Capital Group), Capital Asset Management announced today the successful sale of The Plaza at Squaw Peak, a 428,044-square-foot class-B office building, to BH Properties, a Los Angeles commercial real estate investment company. Located on 16th Street and Morten Avenue in… Read More →

Moreland Auto Group buys 22 acres in Avondale

Courtesy of Cassidy Turley
December 4, 2014 by in AZRE Magazine | Brokerage | Featured | Investment

Cassidy Turley* announced the sale of 22.6 acres of commercial land at the northwest corner of Avondale Boulevard and McDowell Road in Avondale, Ariz., for $2.2 million ($2.24 per square foot). Doug Moreland of Colorado-based Moreland Auto Group purchased the property under Moreland Arizona Properties, LLC from Rialto Capital Management LLC. Cassidy Turley Vice Presidents… Read More →

IREM, CCIM announce 9th annual CRE Economic Forecast

Economic Forecast

IREM and CCIM will present the 9th annual commercial real estate Economic Forecast at the Tempe Center of the Performing Arts on Thursday, Jan. 15, 2015. IREM and CCIM will begin the program by honoring Jerry Colangelo, who will be recognized as the Person of the Year by the organizations. The panel discussion will be… Read More →

Stockbridge Capital Group buys Phoenix industrial portfolio

Metro Business Park

Cassidy Turley* announced Tuesday that San Francisco-based Stockbridge Capital Group, LLC, a fully independent real estate investment management firm, has closed on five of six properties that are part of a multi-tenant industrial portfolio in metro Phoenix for $53.16 million. Stockbridge is under contract with plans to close on the sixth building located in Tempe… Read More →

LA-based investor buys 90 Mountain View for $34.6M

90 Mountain View, Cassidy Turley, WEB

Cassidy Turley* announced Monday that Los Angeles based Regent Properties, a multi-faceted real estate investment company, has acquired 90 Mountain View, a 183,644 square foot office project located at 9977-9999 N. 90th St. in Scottsdale, Ariz., for $34.6 million ($188.41 per square foot). The seller was Principal Real Estate Investors, one of the largest institutional… Read More →

Helix acquires Sonoran Corporate Center building

Building six at the Sonoran Corporate Center

Helix, an Arizona-based commercial real estate brokerage, management, investment services and development company, recently acquired new Scottsdale commercial property, Sonoran Corporate Center Building 6 for $1.57 million. Located just off the 101 and Princess Drive, in Scottsdale, Sonoran Corporate Center includes a 10,154 square foot building that is 100 percent occupied by Medical Practice Innovations… Read More →

Failed condo project re-assembled from 57 ownership groups

Southern Ridge

ABI Multifamily, a multifamily brokerage and advisory services firm, announced the sale of Southern Ridge, an apartment community platted as individual condos, located in Mesa, Ariz. The 113-unit garden-style community was originally built in 1985. Southern Ridge sold for $6,510,000, which reflects a price of $57,610 per unit. The sale is one of three significant… Read More →

Oregon investor plans industrial packing facility in Mesa

460wMcKellipsRd_Aerial, Lee Associates, WEB

A 5.87-acre land parcel at 460 W. McKellips Rd. in Mesa sold for $1,400,000 to an Oregon buyer with plans to build an industrial packing facility. Price per SF was recorded at $5.47. The utility improved, M-1 and M-2-zoned industrial parcel sits adjacent to the Loop 202 Freeway right at the full-diamond interchange at Country… Read More →

Canadian investor buys Palm Valley Office Park I, II

Palm Valley Office Park

Cassidy Turley announced that Kootenay Holdings, a private investor, has acquired Palm Valley Office Park I and II, a 83,575-square-foot office project located at 1616 North Litchfield Road and 1646 North Litchfield Road in Goodyear, for $15.35 million ($183.67 per square foot). The seller was REO Asset Manager, Steve Schrag of Key Bank c/o KeyCorp Real… Read More →

Nick Miner appointed to CCIM executive committee

CCIM Central Arizona Chapter Logo

  The CCIM Institute, one of the largest commercial real estate networks in the world, announced its 2015 leadership teams during the organization’s annual conference in Los Angeles on Oct. 17. The CCIM Institute confers the Certified Commercial Investment Member (CCIM) designation, commercial real estate’s global standard for professional achievement. Nick Miner, CCIM, Vice President… Read More →

Multifamily lending update: Quality over quantity

Silhouette of man with money

By Charlie Williams, Senior vice president, Berkadia   What do developers and investors have to be able to show lenders to improve their odds of getting financed? It is important that the major aspects of the developer’s business plan are viable and supportable. Lenders are not interested in relying on any assumption of a home run… Read More →

Canadian investor buys Gateway Office Center

Gateway Office Center, Cassidy Turley, WEB

Cassidy Turley announced the $3 million ($95.06/psf) sale of Gateway Office Center located at 4130 E. Van Buren Ave. in Phoenix. Garnett Capital Corporate from Victoria, British Columbia, purchased the ±31,557 square foot property from Brentwood Gateway Center (Victorville, CA.). Cassidy Turley Executive Managing Director Eric Wichterman and Senior Vice Presidents Mike Coover and Gordon… Read More →

DCT Industrial Trust acquires Tempe portfolio

TempeWarehousePortfolio_BCL, WEB

Cassidy Turley announced that DCT Industrial Trust has acquired a three property warehouse portfolio from a Chicago-based global investment manager for $26.44 million.   Located in Tempe, the 355,371 SF portfolio includes: Roosevelt Center, 2405 and 2415 S. Roosevelt Street; Parkland Center, 7245 and 7307 S. Harl Ave.; and Wilson Center, 2636 South Wilson Street… Read More →

NAIOP invests in voter education of pro-business legislators

Money on paper_13970049_grayscale

About 10 years ago, NAIOP Arizona made a concerted effort to engage in public policy advocacy at the state capitol in order to attract and grow more high-paying jobs to our state. During this time, we have had a number of successes in the area of lowering commercial property tax assessment ratios. Where we had… Read More →