Pivot Development Purchases Papago Plaza for $12.5 Million

Cushman & Wakefield, a global leader in commercial real estate services, announced today that Arizona-based Pivot Development, LLC has purchased Papago Plaza and an adjacent office building in South Scottsdale for $12.5 million. Cushman & Wakefield Senior Vice Presidents Dan Salley and Jack Wilson negotiated the acquisition. Papago Plaza is a pueblo-style retail center located…

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At 90 Percent Sold-Out, Twelve|Twelve Condo in Nashville Wins NAHB 2015 Pillar Award

Fort Lauderdale, FL-based commercial real estate firm Stiles and Nashville, TN-based Hensler Development Group announced today that the nearly sold-out Twelve|Twelve condominium in Nashville, TN has won a 2015 National Association of Home Builders (NAHB) Multifamily Pillars of the Industry Award for Best Condominium Community. This highly coveted industry award recognizes excellence in multifamily design,…

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Colliers International Completes $2.175 Million Combined Sale, Triple Net Leaseback for Gilbert Medical Office Condominiums

Colliers International in Greater Phoenix recently completed two separate medical office condominium sales totalling $2.175 million in a triple net leaseback deal for Desert Pulmonary and Sleep Consultants in Gilbert. The combined square footage is 8,396.   Both transactions were led by Steve Gonzalez, senior vice president; Marcus Muirhead, vice president; and Greg Guglielmino, senior…

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HINES RENEWS U.S. ATTORNEY’S OFFICE LEASE AT RENAISSANCE SQUARE

Hines, the international real estate firm, today announced the renewal of the U.S. Attorney’s 72,980-square-foot, long-term lease at Renaissance Square, where it has been located for 15 years. The U.S. Attorney’s Office employs 280 staff members, including 120 attorneys, on floors 15-18 of Two Renaissance Square, a property owned by Hines. “We are very pleased…

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North Central Phoenix Office Buildings Sell for $10.4 Million

Cushman & Wakefield, a global leader in commercial real estate services, announced today that Arizona-based East Missouri LLC has purchased the East Missouri Office Buildings for $10.4 million. Eric Wichterman, Mike Coover, Bob Buckley, Tracy Cartledge, Steve Lindley, Ben Geelan, Chris Toci and Chad Littell of Cushman & Wakefield’s Capital Markets Group negotiated the sale.…

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Colliers International HSK Multifamily Team Closes Bella Plaza Apartments

NW Group Investments LLC, John Trubilla, principal, paid $3,650,000 ($50,694 per unit) to buy the 72 unit Bella Plaza apartments located 2130 W. Indian School Rd. in Phoenix. The seller was Fountain Ridge Apartments LLLP, a limited liability partnership formed by Mentor Properties in Scottsdale. The deal was brokered through Bill Hahn, Jeff Sherman and…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 16-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 a 16-unit apartment property located in Chandler, Ariz., according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,375,000. Pete Te Kampe and Harold…

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BKM CAPITAL PARTNERS ACQUIRES 225,435-SQUARE-FOOT INDUSTRIAL BUSINESS PARK IN PHOENIX

BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant industrial investments, has acquired the Koll Cotton Center, a seven-building, 225,435 square-foot industrial business park in Phoenix for $26 million. “The Cotton Center is an institutional quality asset that presents a dynamic value proposition,” says Brian Malliet, CEO and Co-Founder of…

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ABI Multifamily Closes 3rd Transaction with Canada-based, Western Wealth Capital

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the bulk condominium sale of Solterra on Fifth Avenue, a condominium community that is located in Phoenix, Arizona. The purchase consisted of 40 units (out of an original 60 units total on the property) and sold for $4,560,000, which reflects a…

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