Investment Archives

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 →

BKM Capital Partners acquires three industrial parks

Black Canyon 8024 N. 24th Avenue, BKM Capital, WEB

BKM Capital Partners has acquired three multi-tenant industrial parks with a combined capitalization of $42.8 million on behalf of BKM Industrial Value Fund I, LP, according to Brian Malliet, CEO and Co-Founder of BKM. These are the first three assets to be included in the commingled fund, which targets final close in March 2015, and intends… Read More →

AFI-USA sells downtown Phoenix development site for $12.75M

Downtown_Phoenix_Aerial_Sketch-on

Real estate developer Africa-Israel USA (AFI-USA) announces the sale of a five-acre downtown Phoenix development site at the corner of Central Avenue and McDowell Road for $12.75 million. AFI-USA had owned the property since 2004. Lennar Multifamily Communities is the purchaser and plans to transform what is currently an empty lot into a 288,000-square-foot luxury residential… Read More →

HFF arranges acquisition financing for Camelback Center

HFF OM - Camelback Center

HFF announced it has arranged acquisition financing for Camelback Center, a 32,963-square-foot, CVS-anchored retail center in Phoenix. HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital- Real Estate to secure the fixed-rate loan through Guggenheim Commercial Real Estate Finance, LLC.  Loan proceeds were used to acquire the property. Camelback… Read More →

Investment company buys Eastpoint Business Center

Eastpoint Business Center, WEB

Cassidy Turley announced the $6.5 million ($84.08/psf) sale of Eastpoint Business Center located at 3191 N. Washington Street in Chandler, Ariz. Privately held investment management company AICI (El Segundo, CA) purchased the 77,303 square foot property from Dalfen America Corp. of Westmount, Quebec, Canada. Cassidy Turley’s Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve… Read More →

Verde Investments buys Superstition Commerce Park

Superstition Commerce Park, Courtesy of Cassidy Turley

Cassidy Turley has announced the sale of Superstition Commerce Park, a 15.97-acre industrial project west of the northwest corner of U.S. Highway 60 and Sossaman Road. Phoenix-based Verde Investments, Inc. purchased the property for $8.8 million from Delta SCP, LLC. The buyer is an owner/user and plans to occupy the project. Cassidy Turley Executive Managing Directors… Read More →