In The Spotlight Archives

RED Development and BIG USA add 5 properties to portfolio


BIG Shopping Centers USA and RED Development announced the addition of five retail assets totaling nearly 1.5 million square feet in two Midwestern states and Arizona to their recently launched joint venture BIG RED Portfolio, LLC. The partnership seeks to maximize market presence and performance of select U.S. retail properties in the Midwest and West.… Read More →

ABI Multifamily sells Paradise North Apartments for $10.75M

Paradise North Apartments Picture

ABI Multifamily announced the $10,750,000 sale of the 138-Unit, Paradise North Apartments located on 40th Street, just North of Bell Road in the Northeast Phoenix/North Paradise Valley submarket. “Paradise North Apartments is a unique property comprised of large, 987 SF average, Two Bedroom / Two Bathroom unit types (99% of units) with select units featuring… Read More →

Sperry Van Ness announces $6.9M in sale/lease transactions

Chandler Heights Marketplace

An outstanding week of sale and lease transactions at Sperry Van Ness, LLC reaches almost $7,000,000 in total deal value. Directors of Leasing, Mary Ridberg and Rommie Mojahed continue to excel in this industry by selling the Chandler Heights Marketplace for $5,425,000; an upcoming upscale retail shopping center in Chandler, along with a 4,800 square-foot… Read More →

Former Young’s Market industrial property sells for $5.5M

200 S. 49th Ave Photo

Cushman & Wakefield has announced the $5.5 million sale of an industrial facility at 200 S. 49th Ave. Evergreen Industrial Properties, LLC, of California purchased the 114,871-square-foot building from California-based Young’s Holdings, Inc. (Young’s Market Company). Constructed in 1989, the property was previously a warehouse and office facility for Young’s Market Company in the heart… Read More →

Huntington Apartments in Tempe sell for $34.6 Million

The Huntington Apartments

Cushman & Wakefield, a global leader in commercial real estate services, announced the $34.6 million sale of The Huntington Apartments on behalf of owner Gelt Inc., dba Gelt Mill Holdings LLC of Tarzana, CA. Jim Crews and Brett Polachek with Cushman & Wakefield’s Southwest Multifamily Advisory Group successfully negotiated the sale to Abacus Capital Group… Read More →

McDonald’s in Mesa sells for $1,830,000 Paul Prescott

CBRE has completed the sale of a single-tenant, corporate McDonald’s ground lease located at 1948 East McKellips Road in Mesa, Arizona. The property commanded a sale price of $1,830,000. Joe Compagno with CBRE’s Phoenix office negotiated the transaction. The seller was Phoenix-based Orsett Properties. The buyer was 3568 Veteran, LLC in Newport Beach, CA. “There… Read More →

Demand for Class A office space improves vacancy


Cushman & Wakefield announced that the Metro Phoenix office vacancy dropped to 18.9% in the third quarter, largely due to demand for prestigious, Class A space. The metropolitan area has added nearly 45,000 jobs in the past 12 months with almost one-third of those being office sector jobs. Demand for office space led to the overall vacancy… Read More →

Velocity Retail Group comes out with 14 new transactions

Active Ride Shop

Following is a summary of 14 recent retail transactions completed by Velocity Retail Group, LLC. Beall’s Outlet to Open at Westporte Village Beall’s Outlet will soon open a new location in Peoria, Arizona. The 23,600 square foot space is located in Westporte Village at the southeast corner of 67th Avenue and Peoria, Velocity Retail Group’s… Read More →

Big Deals: Julie Johnson is a star-crossed broker

Photo by Robin Sendele, Az Big Media

Julie Johnson’s first job out of college was to conduct failure analysis for airplane turbine blades, and she couldn’t have been more bored. She graduated from Arizona State University with a bachelor’s degree in metallurgical engineering with aspirations of conducting research for a space program. A career in healthcare real estate leasing, investment sales and site selection… Read More →

Marcus & Millichap closes the sale of 3 properties feverpitched

Wells Fargo Marcus & Millichap announced the sale of Wells Fargo Ground Lease, a 4,692-square foot net-leased property located in Marana, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $2,118,000. Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing… Read More →

C & W | PICOR early October transaction list Oleg Dudko

SALE Synergy Plaza, LLC purchased the former McMahon Plaza in Tucson, located at 2941 – 2959 N. Swan Rd. & 4626 – 4646 E. Ft. Lowell Rd., from Western Alliance Bank for $5,000,000. The 46,933 square foot mixed-use property includes office, retail and restaurant space.  The project will be rebranded as “Synergy Plaza”.  The restaurant… Read More →

ORION closes Tucson medical center for $3M

1925 W Orange Grove

Orange Grove Medical Center, a 40,782 total square foot multi-tenant office building, sold for $3,000,000, or $73.56/SF. The property is located on the southeast corner of Orange Grove Road and La Cholla Boulevard in Tucson, Arizona. Constructed in 1988, the medical center sits on fee ground at the Northwest Medical Center Campus and was approximately… Read More →

CBRE releases September transaction report

721 N 4th Avenue

CBRE’s Tucson office has released the following transaction report for September: LEASES WirelessPCS, LLC has leased 2,200 square feet of retail space at 1841 and 1845 S. Craycroft Road from Ashraf Shiha. The tenant was self-represented. Michael Laatsch with CBRE’s Tucson office represented the landlord. Oasis Foods, LLC has signed a 3,300 square-foot lease of… Read More →

Massive expansion In Chandler’s Price Road Corridor

consumer behavior

If building 650,000 square feet that is one hundred percent leased in Chandler’s Price Road Corridor wasn’t enough, the Douglas Allred Company now wants to increase that amount nearly fourfold. To be known as Park Place II, Allred will soon be filing its application with the City of Chandler for up to two million square… Read More →