Principal Real Estate Investors Archives

Deer Valley industrial campus sells for $26.4M

industrial campus
by in AZRE Magazine | Industrial

A 220,463-square-foot industrial campus in Phoenix was sold for  $26.4 million to industrial property owners Meritex Enterprises Inc., according to CBRE. “This acquisition is in keeping with our strategy of investing in markets that provide opportunity for growth, expansion and diversification,” commented Dan Williams, chief investment officer of Meritex. “We continue to seek additional investments in… Read More →

Opus Airport Industrial Development sold

Opus

The Opus Group  sold Opus Airport Industrial, a 393,300-square-foot Class A warehouse and distribution center it recently completed. The building was sold to an entity formed by Principal Real Estate Investors, a subsidiary of the global asset management company Principal Financial Group. Opus reports it is unable to disclose the project’s cost or sale price. The… Read More →

$6.5M land transaction leads to new Mesa industrial park

Reviving the Construction Industry

Metro East Valley Holdings, LLC, a joint venture between Tempe based Metro Commercial Properties, Inc., and a private REIT managed by Principal Real Estate Investors, Des Moines, IA, completed the purchase of 21.5 acres of land fronting the US 60 Superstition Freeway in Mesa, Arizona, for a planned four building light industrial development. The seller… Read More →

Phoenix-Based Hannay Realty Advisors Expands to Colorado

Hannay Reality Advisors - Denver

Longtime Phoenix-based property management and commercial real estate investment firm, Hannay Realty Advisors, has opened an office in Colorado to expand presence. To take the lead of the new office, Denver-based commercial real estate executive Bruce Backstrom has been brought on as senior vice president and manager of the Hannay Realty Advisors’ Colorado office in… Read More →