New to Market Archives

Canadian investor buys Tempe apartments for $21.3M

Tempe apartments
by in AZRE Magazine | Multi-Family

Colliers International of Greater Phoenix negotiated the $21.3 million sale of The Arbors at 5th Apartments located at 805 W. Brown St. in Tempe, AZ. The community was purchased by a private investor based out of Vancouver, Canada. Senior Executive Vice President Cindy Cooke and Senior Vice President Brad Cooke of Colliers International in Phoenix… Read More →

Colliers negotiates 194-unit Flagstaff apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International in Greater Phoenix negotiated the sale of The Commons at Sawmill. The 194-unit asset is located at 901 S. O’Leary St. in Flagstaff, Ariz. The Commons at Sawmill is located within walking distance of Northern Arizona University (NAU) in the heart of Flagstaff. The property services are privately owned student housing community. Senior… Read More →

Nearly 20 KSF of office leases signed at Westgate

Westgate entertainment district
by in AZRE Magazine | Office

This week, Westgate Entertainment District signed leases for close to 20,000 square feet of office space to three businesses that will open at the Glendale mixed-use center by the end of the year.  Harvard Drug Group, a pharmaceutical sales, manufacturing and distribution company, originally opened at Westgate in 2013 with a 4,937 square-foot office to accommodate… Read More →

Houston-based Hines buys 820k SF industrial facility

investment firm
by in AZRE Magazine | Brokerage | Industrial

The JLL Capital Market team negotiated the sale of Goodyear Crossing II, an 820,384-square-foot, Class A fulfillment center in Goodyear, which was purchased by  real estate investment firm Hines for $56.2 million. The property was fully leased at the time of the sale. As investment grade tenants continue to see the value of locating in Phoenix, investors… Read More →

Roosevelt Row apartments sell for $1.2M

Roosevelt Row
by in AZRE Magazine | Brokerage | Multi-Family

The Phoenix offices of Marcus & Millichap (NYSE: MMI), negotiated the sale of The SEBO, an early century historic apartment building located in the prestigious Roosevelt Historic District of Downtown Central Phoenix. The asset commanded a sales price of $1,200,000 or $150,000 per unit. The property is located at 402 W. Roosevelt St., Phoenix, Arizona. Brian Tranetzki and… Read More →

New Jersey-based Cenlar FSB leases Tempe offices

Cenlar FSB
by in AZRE Magazine | Brokerage | Office

Cushman & Wakefield negotiated the lease for New Jersey-based Cenlar FSB, which took up an approximately 41,757-square-foot office at Warner Courtyards, located at 301 W. Warner Rd. in Tempe, Ariz. The landlord is Warner Courtyards, LLC; HRA Warner Courtyards, LP; Park 3020, L.L.C. and Park 3030 L.L.C. Cenlar’s expansion to Tempe comes in response to rapid growth… Read More →

Valley posts high percentage of luxury apartment construction

Infill development

Cranes are everywhere in Downtown Phoenix and around the Valley as development continues to explode. But what exactly are they building? Chances are it’s some sort of luxury development, whether it’s apartments to rent or condominiums to buy. These high-end multifamily properties seem to have always popped up in Scottsdale, but Phoenix especially has enjoyed… Read More →

Glendale hospital-adjacent medical campus sells for $10.85M

Glendale
by in AZRE Magazine | Medical

Five of the eight buildings comprising a medical campus in Glendale near the Banner Thunderbird Medical Center sold for $10,850,000 ($229.61 PSF). The transaction included a 47,254 square feet controlling interest of prime medical office space within Thunderbird Palms Medical Campus. The Thunderbird Palms offering represented a rare opportunity to acquire modern, net leased, hospital adjacent, medical… Read More →

Midtown Phoenix apartments sell for $22M

Midtown Phoenix apartments
by in AZRE Magazine | Multi-Family

ABI Multifamily, Arizona’s largest locally operated dedicated multifamily brokerage and advisory services firm, is pleased to announce the $22,000,000 sale of The Hawthorne Apartments, a 182-unit (out of 276) apartment community located in Phoenix, Arizona. The seller is Arizona-based Pacific Real Estate Partners, and the buyer is Washington-based Weidner Apartment Homes, a private investment group… Read More →

Passco Companies acquires Phoenix multifamily community

Passco Companies
by in AZRE Magazine | Multi-Family

Passco Companies, LLC has acquired Almeria at Ocotillo, a 389-unit, Class A luxury multifamily community located within the Ocotillo Master Planned Community, an upscale master-planned community in the dynamic Phoenix submarket of Chandler, Arizona, for approximately $80 million. The apartment community is located at 2470 and 2471 W. Edgewater in Chandler, Arizona. Sean Cunningham at CBRE represented… Read More →

CBRE completes 5 multifamily transactions in Metro Phoenix

_studio_on_12th_street
by in AZRE Magazine | Brokerage | Multi-Family

CBRE has completed the sale of five multifamily properties in the metropolitan Phoenix area totaling $11.7 million. Brian Smuckler and Jeff Seaman, of the firm’s Multifamily Investment Properties group, brokered the following transactions: Sandalwood Square is a 68-unit community located at 4325 N. 23rd Avenue in Phoenix.  The Buyer was HK 24th Street, LLC of… Read More →

Retail pads are hot in Phoenix

homes
by in AZRE Magazine | Investment | Retail

It is not only the weather that is hot in Phoenix. Shopping center outparcels, also known as “pads” are sizzling hot. Presently there are nearly 200 outparcel properties under construction or proposed in the Phoenix metro area, according to CoStar, a leading commercial real estate information source. These proposed projects range in size from 2,500… Read More →

224-unit Mesa apartment complex sold for $25.6M

Mesa apartment
by in AZRE Magazine | Brokerage | Multi-Family

A 224-unit Mesa apartment complex, Windemere Apartments, sold for $25.6 million to San Diego-based Pathfinder Gilbert Holdings LLC., an entity of Pathfinder Partners, according to Cushman & Wakefield, who represented the seller. The apartment community, located at 2020 E. Inverness Ave. in Mesa, was sold by Phx E. Inverness 11-B LLC, an entity of California-based Acacia Property Corporation. Located… Read More →

Scottsdale and Pinnacle Peak Roads retail center sold for $47M

Scottsdale
by in AZRE Magazine | Brokerage | Retail

JLL Income Property Trust, an institutionally-managed, daily valued perpetual life REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), acquired a newly built Scottsdale retail center for $47 million. Silverstone Marketplace is anchored by a Sprouts Farmers Market, and the 78,000-square-foot property is 100 percent leased to a variety of national and regional tenants with a weighted average remaining lease… Read More →