Tag Archives: America

Security Title Plaza sells for $18M

DTZ, a global leader in commercial real estate services, announced that Investors Warranty of America, Inc., a subsidiary of AEGON USA, has sold Security Title Plaza, 3636 N. Central Avenue in Phoenix. Heckethorn Towers, LLC, a unit of Reven Capital of La Jolla, CA, purchased the 219,032 square foot, 12-story office tower for $18 million.

DTZ’s Bob Buckley, Tracy Cartledge and Steve Lindley and Ben Geelan with the Capital Markets Group and Mark Stratz, Mike Beall, Scott Baumgarten and Chris Walker with the Office Group represented Investors Warranty of America, Inc. during the transaction.

“The buyer was president of the company that sold Security Title Plaza for $38 million in 2007,” said Mr. Buckley, DTZ Senior Managing Director. “It was a unique opportunity to buy the same building at less than 50% of its peak sales price. With all of the positive developments in Phoenix’s urban core since 2007, the strong potential for this asset to return to peak pricing in the future is significant, providing exceptional upside potential to the buyer.”

Built in 1983, Security Title Plaza is located on ±4.2 acres at the southwest corner of Central and Weldon Avenues in Phoenix’s Midtown submarket. It is close to amenities including neighboring Park Central Mall and within a short walk to a METRO Light Rail station. The office tower has a distinctive atrium lobby with a fountain and glass sculpture and an on-site café. The building has a five-story parking structure with additional visitor parking, ±18,000 square foot efficient floor plates and expansive balconies in the tenant spaces overlooking Central Avenue and Phoenix. Security Title Plaza was 52.6% occupied at the time of sale.

“We are continuing to see interest from buyers, developers and tenants along Central Avenue, especially in the Midtown and Uptown areas,” said Mr. Lindley, DTZ Senior Managing Director. “The proximity to amenities, access to the METRO Light Rail and the growth with new residential and retail development are all attracting capital and tenants to this improving urban core.”

Sprinkle's maple bacon cupcake

Bacon Day Eateries Breakdown

Bacon has become one of America’s favorite meats. Two billion pounds of bacon is produced in the U.S every year. Saturday, August 31st recognizes and celebrates this country’s guilty breakfast pleasure.

The 31st is more than a Saturday. It is international Bacon Day! There is no better way to celebrate other than by eating. Here are a few places in the Valley to order up a slice of hog heaven:

The Thirsty Lion Pub and Grill at Tempe Market Place will be serving Bacon Wrapped BBQ Prawns, grilled with Newcastle BBQ sauce, Napa slaw and grain mustard vinaigrette, garnished with curly green onions. This dish will showcase the eclectic restaurants bold flavors and original recipes and celebrate the meat’s big day.

Sprinkles just announced their newest creation — maple bacon cupcakes.  Harnessing bacon’s unique umami taste, Sprinkles serves up their first savory cupcake.  Thick, smoky bacon is baked to a crisp and woven into their Madagascar Bourbon vanilla cake.

The sweet treats are topped with rich, buttery maple cream cheese frosting, you will want to top all your sweet treats with Maple Bacon! These limited edition cupcakes are available August 30 to September 15 at the Scottsdale location.

Ben & Jack’s Steakhouse in Old Scottsdale is the perfect place to celebrate International Bacon Day. Their signature Sizzling Canadian Bacon is served extra thick by the slice and can be found on Ben & Jack’s award-winning menu year-round as an appetizer. You can’t go wrong pairing that with Ben & Jack’s prime dry-aged steaks, chops, or fresh seafood.

 Salut Kitchen Bar is a restaurant and wine bar in Tempe offering a flavorful and 149709751innovative menu inspired by a mix of Mediterranean and American cuisine. The restaurant has a dish perfect for the holidays that will pacify all bacon cravings.

Salut Kitchen Bar’s Bacon Wrapped Filet Mignon will be served with peppercorn demi-glace, Sautéed spinach with bacon, Parmesan French-toast, and piquillo pepper relish.