Tempe Office/Flex Business Park Trades for $10.2 Million in Investment Deal

DeMuro Corporate Square, a 7-building business park totaling 88,837 SF at 1505-1575 W. University Dr., Tempe, has sold to a California investment entity for $10,200,000. Occupancy was reported to be 92%. The transaction closed on June 30. Lee & Associates Investment Principals Steve Gonzalez, Marcus Muirhead, and Greg Guglielmino represented the seller, University Corporate Square…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 19-UNIT APARTMENT BUILDING

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Westwood, a 19-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $1,320,000. James K. Crawley and…

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San Diego-based Rubicon Deli Expands to Arizona Award-winning deli to open locations in Phoenix and Scottsdale

Rubicon Deli, an award-winning San Diego-based fast-casual sandwich restaurant, is set to open two locations in Arizona – one on Scottsdale Road and Acoma Drive in Scottsdale, and the other on Central and Virginia avenues in Phoenix.   Currently, Rubicon has four locations in San Diego and Reno, Nev. Soon, they will have two locations…

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Live, Work, Play + Stay at Scottsdale’s ‘Chauncey Lane’

Scottsdale has no problem drawing crowds, thanks to its thriving dining scene, striking architecture, ample opportunities for shopping and entertainment and near-endless eye candy, and newcomers and locals alike will find all four in abundance at Chauncey Lane. The massive, 53,000-square-foot mixed-use project will debut at the intersection of Scottsdale Road and Chauncey Lane, bringing…

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STERLING REAL ESTATE HOLDINGS ACQUIRES SUMMERHILL APARTMENTS IN PHOENIX

Sterling Real Estate Holdings, the joint venture between Barker Pacific Group (BPG) and Pacific Real Estate Partners (PREP), has acquired Summerhill Apartments: a 1970s-era, 130-unit property located at 2925 North Greenfield Road in Phoenix. With its acquisition of Summerhill last month and the Cielo apartment complex in 2015, Sterling now owns three properties in two…

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Central Ave & Indian School Development Site Sold for $6.1 Million

Cushman & Wakefield announced that Bright Land Holdings, LCC purchased the Central Avenue and Indian School Road development site, located at 4040, 4050 and 4060 N. Central Avenue in Phoenix, for $6.1 million from 4040 N. Central, LLC (Glasir Capital Partners). Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis represented the seller…

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Jason Meszaros Promoted to Senior V.P. and Managing Regional Director

 Jason Meszaros has been named Senior Vice President and Managing Regional Director of Irgens, according to Mark Irgens, CRE, CEO/Manager of the commercial real estate development company. “Jason creates great value for the Irgens company and his commitment to our firm is worthy of recognition,” says Irgens.  “His strength and dedication led us to increase…

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LGE Design Build Completes Construction on 97,000 SF Chandler Airpark Development

LGE Design Build has completed construction on Chandler Airpark, a nearly 97,000 square-foot, six building commercial development, bringing countless new jobs to the East Valley. Construction on the large-scale project located on Douglas Drive (just west of Stearman Drive) in Chandler wrapped in May with developer Silagi Development of Thousand Oaks, California. Three of the…

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