Conor Commercial & Globe Corporation Announce Launch of AZ|60 Industrial Development in Gilbert, Ariz.

Joint venture partners, Conor Commercial Real Estate, a member of The McShane Companies, and Globe Corporation, are pleased to announce the acquisition of a 16-acre land parcel for the development of AZ|60 – a new two-building, 225,600 square foot industrial project. Available for-sale or lease, the speculative facilities will offer modern design and flexible configurations…

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NorthMarq Capital arranges $7.6M refinance for shops anchored by Ross/Joanne Fabrics in El Paso, Texas

James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix office arranged the $7.6 million refinance on the property known as Yarborough Plaza. The low-leverage loan was structured with a 10-year term with 5-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, a prominent real estate developer in Phoenix,…

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Phoenix IDA Hires Economic Development & HR Administrators

The Industrial Development Authority of the City of Phoenix, AZ (“Phoenix IDA”), announces the appointment of Paul Magallanez as its community and economic development administrator and James T. Barham as its human resources and legal affairs administrator. “Paul and James bring tremendous economic development, human resources and legal skills to the Phoenix IDA team. Together,…

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LOCAL DEVELOPMENT GROUP LAUNCHES PEDESTRIAN-FRIENDLY RETAIL CENTER IN CHANDLER, ARIZ.

Common Bond Development Group, the real estate development company behind the up and coming The Plant in Chandler, has begun construction this month on the pedestrian-friendly and uniquely designed retail center. Spanning roughly eight acres on the southeast corner of Gilbert Road and Ocotillo Road, The Plant will be anchored by a Sprouts Farmers Market…

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ABI Brokers CA-based Private Equity Fund’s Entrance into AZ with $27.2M sale of Palm Valley Apartments in Goodyear

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the $27,200,000 / $103,030 Per Unit sale of the 264-unit, Palm Valley Apartments in Goodyear, AZ. Palm Valley, originally built in 1997/98, features spacious 1, 2 and 3-bedroom units with a weighted average size of approximately 893 square feet with full…

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automätik Parent Company Purchases Phoenix Building for $3.3 Million

DTZ, a global leader in commercial real estate services, announced today that Tempe Auto Drive LLP, a subsidiary of automätik, has purchased a 38,766 square foot garden office/flex building at 3419 E. University Drive for $3.3 million. The seller was ICIC Commercial Investments 2, LLC. DTZ Vice President Justin Himelstein with the firm’s Occupier Services…

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2,800 Former Home of Caliente Construction Sold for $101/SF by GPE Commercial Advisors

GPE Commercial Advisors, an award winning commercial real estate firm in Arizona, secured the sale of the former home of Caliente Construction, a 6,027 SF one-story flex/industrial building located at 242 South El Dorado Circle in Mesa for $610,000 ($101/SF). “Caliente Construction is so pleased with the way GPE Companies managed the sale of our…

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BERKADIA ORIGINATES OVER $14M FOR HISTORIC, AFFORDABLE HOUSING PROPERTY IN PHOENIX

Berkadia recently originated a $14.1 million loan for Westward Ho Apartments, a nationally registered historic landmark property located in downtown Phoenix. The property, a former 600-unit luxury hotel, was originally purchased and converted to 289 housing units for elderly and disabled residents in 1978 by Gaudreau Development Company, an affiliate of the current owner and…

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ABI Broker’s Sale of Repositioned Multifamily Asset in Phoenix Midtown’s 16th Street Corridor

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the sale of the Palm Vista Apartments a 40-unit, apartment community for $1,950,000 or $48,750 Per Unit. Originally built in 1982, Palm Vista Apartments is comprised of two contiguous buildings that are constructed of block and wood with pitched roofing. Over…

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