Phoenix Metro Area Multifamily Complex Sells for $47 Million

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Stone Canyon, a 392-unit community in Mesa, Ariz. The $47 million sales price represents $120,000 per unit. IPA senior director Steve Gebing and Marcus & Millichap vice president…

Details

Colliers International Completes $2.2 M Land Sale in Glendale’s Arrowhead Ranch for 100-Unit Senior Care Facility

Colliers International in Greater Phoenix recently completed a $2.23 million sale of a 3.95-acre ($13 per square foot) commercial land parcel, where the 100-unit Orchard Pointe at Arrowhead senior care facility is planned. Glendale Heritage LLC of Omaha, Neb., purchased the land, located just north of the northwest corner of Bell Road and 67th Avenue…

Details

Village Square at Dana Park Welcomes a Unique Boutique With an Even More Unique Name: Lizard Thicket

Located in three different states and major cities, Lizard Thicket Boutique has opened their 12th store in Mesa’s Village Square at Dana Park. Lizard Thicket has quickly become known for selling the latest styles, accessories and home décor at surprisingly affordable prices. They carry a limited quantity of specially selected pieces so that their merchandise…

Details

Investors Warranty of America, Inc. Sells Arrowhead Business Center

DTZ, a global leader in commercial real estate services, announced today the sale of Arrowhead Business Center, a ±43,915 square foot, three building office campus in Glendale, AZ. Dunbar Real Estate Investment Management (Los Angeles) purchased the campus for $5.6 million from Investors Warranty of America Inc. through its investment advisor AEGON USA Realty Advisors…

Details

Adults with Autism Move into First Place™ Beta Site, Live on Their Own for First Time Addressing Post High School ‘Services Cliff’

Adults with autism have moved into the beta site for the First Place Transition Academy, one of three components of the future First Place mixed-use residential property in Phoenix. The Academy is teaching independent living, career development and social skills for a population that experiences a “services cliff” after high school, according to a new…

Details

VALLEY PARTNERSHIP REVIEWS 4 SITES FOR 2015 COMMUNITY PROJECT

By Peter Madrid, Cushman & Wakefield of Arizona It doesn’t get any easier. The 2015 Valley Partnership Community Project planning process has officially begun. Sixteen grant applications were received, reviewed and ranked by hard-working committee members. The committee short listed the applications to four potential charity recipients. Juliana Norvell of Marc Taylor Inc., led the…

Details

CBRE Multifamily Investment Group Completes $800,000 Sale of West Osborn Apartment Community in Phoenix

CBRE has negotiated the following multi-family sale transaction: • Clear Sky Uptown III LLC from Phoenix, AZ has purchased West Osborn, a 17-unit multi-family property located at 445 West Osborn Road in Phoenix, Arizona from West Osborn Apartments LLC of Phoenix, AZ. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both buyer and…

Details