In The Spotlight Archives

Capital One issues $2.6M Freddie Mac loan to refinance RV Park


Capital One has provided a $2.625 million Freddie Mac fixed-rate loan to refinance Palm Drive Mobile Home and RV Park, a manufactured housing community (MHC) in Wickenburg, Arizona, part of the Phoenix MSA. Senior Vice President Chad Thomas Hagwood, head of Capital One Multifamily’s Birmingham, Alabama office, originated the transaction.  The borrowers have over 32… Read More →

BI closes redevelopment play in Phoenix’s Uptown District

Idle-Hours Press Release Pic

ABI Multifamily announced the $2,825,000 sale of the Idle Hours Apartments, a 28-unit apartment community located in Phoenix, Arizona. Idle Hours Apartments is a low density one-story apartment community, originally built in 1956 and comprised of all two bedroom/one bath apartments with an overall average size of approximately 864SF. The property features all brick construction,… Read More →

Historic El Cortez to be redeveloped into microapartments

El Cortez

CBRE has completed the sale of most of the units in the historic El Cortez condominium complex in midtown Phoenix. The sale included 146 of the 165 units in the complex for a sale price of $6.4 million. Brian Smuckler and Jeff Seaman with CBRE’s Phoenix office represented the seller, El Cortez Condominiums, LLC of… Read More →

Colliers assists Veterans Affairs with health center lease

Jonathan Ammon of

Colliers International in Greater Phoenix recently assisted the U.S. Department of Veterans Affairs in securing a long-term office lease in the 80,814-square foot Estrella Health Center in Phoenix. The Phoenix VA leased the 4th floor of the building, located at 9250 W. Thomas Road, from Legend Real Estate Management with corporate offices in Los Angeles.… Read More →

Avenue5 leases entire floor at Anchor Centre West


Avenue5 Residential recently signed a long-term office lease for the entire 2nd floor at Anchor Centre West, 2201 E. Camelback Rd., Phoenix. Adam Tolson, Principal with Lee & Associates secured the tenant, Avenue5, who will take possession of the 17,974 SF, turn-key space early in 2016. Chris Walker, Michael Beall and Sean Spellman with Cushman & Wakefield… Read More →

Bryan Cave and Berkeley Research lease at Renaissance Square

Renaissance Square 2

Hines, the international real estate firm, announced it has renewed Bryan Cave’s long-term 38,878-square-foot lease and signed a new 6,244-square-foot lease for Berkeley Research Group, LLC at Renaissance Square. Bryan Cave, a law firm with more than 135 employees, has been located at Renaissance Square for 17 years. “We are pleased to renew our lease… Read More →

Eastmark celebrates more than 500 sales in 2015


Eastmark, DMB’s newest masterplanned community, recently celebrated over 500 homes sales to date in 2015, bringing the community’s total sales to about 900 in just over two years.  Real estate experts continue to herald the East Valley as a strong housing market and those rising communities have had a number of key economic development wins… Read More →

60 days of multi-million dollar transactions for Sperry Van Ness Alexey Kuzin

The Sperry Van Ness Phoenix location is hitting it out of the ballpark lately. The last sixty days have been the commercial real estate playoffs for this team and several advisors made several strong plays to end up with a winning trophy. September was action-packed month for the same seven advisors closing significant deals such… Read More →

Dared 89 buys future Valley office building for $3.6M

4039 Raymond

Dared 89 LLC (dba Douglas Allred Company) of Cushman & Wakefield purchased a ±64,853 square foot industrial building at 4039 E. Raymond Street in Phoenix for $3.6 million. The San Diego-based full-service real estate firm announced plans to tear down the existing building and develop Allred 40, a ±90,000 square foot, two-story office building. Cushman &… Read More →

Clarendon Place in midtown Phoenix sells for $9.37M

Clarendon Place

Cushman & Wakefield announced that Clarendon Place, located at 300 W. Clarendon Ave. in Phoenix, sold to California-based investor Brentwood Mortgage Rose Plaza/MKN for $9.37 million. The seller was the Burton Family Foundation (Daryl Burton and Jeffrey Sauter) of Phoenix. Cushman & Wakefield’s Eric Wichterman and Mike Coover represented both parties during the sales transaction.… Read More →

Blaze Pizza comes to Tempe thanks to SimonCRE

Blaze Pizza

Commercial real estate developer SimonCRE purchased a +/-3,300 SF freestanding retail building in the heart of the ASU trade area and will begin renovations immediately for Tempe’s newest chain, Blaze Pizza, set to open in the spring. The building, located at 105 W. University, sits just west of the intersection of Mill Avenue and University… Read More →

A look at a decade of ULI’s Trends Days


Trends Day is exactly as it sounds — and nothing as it sounds. It’s a day when thought-leaders congregate around panels, keynotes and between coffee cups about the latest trends in development. However, it’s much more than that. It’s one day a year when every decision-maker steps out of the C-suite and shares eight valuable… Read More →

WP West acquires 4 acres of downtown Phoenix land Jakub Jirsak

Wood Partners’ entity WP West Acquisitions, LLC, one of the nation’s leading real estate developers, purchased 4.18 acres on Third Street and Thomas Road in the heart of downtown Phoenix. The sale was brokered through Michael A. Lieb, Ltd representing the buyer, while Stuart Milne and Rich Andrus with Menlo Group Commercial Real Estate represented… Read More →

Fort Valley Apartments sell for $3.65M feverpitched

Bruce Hanley represented Clear Sky Capital Partners in the acquisition of the 44-unit Fort Valley Apartments in Flagstaff, AZ for $3,650,000. The seller was Fort Valley Apartments LLC. Fort Valley Apartments is a class “B” property built in 1966 with units averaging 1,002 SF/each. Located in close proximity to Northern Arizona University and Arizona Snowbowl… Read More →