MARCUS & MILLICHAP ARRANGES THE SALE OF A 58-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 Arizona Sun, a 58-unit apartment property located in Tempe, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $3,675,000. Pete Te Kampe,…

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Phoenix-Area Apartments Acquired by 29th Street Capital

29th Street Capital (29SC) acquired two more multifamily communities in Phoenix, Arizona’s thriving East Valley region in March. The firm acquired Williams Landing Apartments, a 72-unit multifamily community on March 25. Village Green Apartments, a 108-unit multifamily community, entered the portfolio March 31. The firm plans significant upgrades at the communities, which are near major…

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Industrial Property Trust Purchases Longust Distribution Center

DTZ, a global leader in commercial real estate services, announced today the sale of the Longust Distribution Center, 2432 W. Birchwood Avenue in Mesa, AZ. Industrial Property Trust Inc. (IPT) of Denver purchased the ±81,436 square foot property from 2432 Birchwood Associates, LLC, an affiliate of EverWest Real Estate Partners, for $6.5 million ($79.82 PSF).…

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Another Complete Condominium Project Sells Through ABI Multifamily Brokerage

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the sale of a prime located Central Phoenix, 13 Unit, complete condominium property – Desert Stone – for $1,100,000 or $84,615 Per Unit. Desert Stone Condominiums was originally built in two phases – 1965 and 2003. The 1965 built portion was…

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CCIM Leaders Focus on Global Expansion, Legislative Efforts and Branding at Midyear Meetings

Strategic global expansion, current legislative efforts, and marketing the CCIM brand to millennials dominated the agendas of the CCIM Institute Board of Directors and governing committees during the organization’s Midyear Meetings, held March 22–25 at the Fairmont Hotel in Chicago. “At the Midyear Meetings, we implemented new directives to move forward strategically into the international…

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Cashen Realty Advisors announces the sale of two more infill property sales

The first property is a 10,000 s.f. retail building that was purchased for $827,000 located at 6107 N. 7th Street in Phoenix. The property is being redeveloped and repurposed for restaurant use by developer, Rick Cordoba of RCDS Contractors. Cordoba is negotiating with several restaurants as he can deliver 10:1,000 parking on the site. Cordoba’s…

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Stiles Signs Anheuser-Busch to 800 Brickell Office Tower in Miami; Brings Occupancy to 90 Percent

Stiles Realty, a division of Fort Lauderdale-based full-service real estate firm Stiles, announced international brewery Anheuser-Busch has signed a 63-month lease at 800 Brickell office tower for 3,218 square feet on the second floor. The premium suite is equipped with a 2,000-square foot balcony, a rare feature in this submarket, according to Stiles Realty Associate…

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Liberty Property Trust Brings Tuesday Morning Corporation to Phoenix with a 593,600 Square Foot Lease at Liberty Logistics Center I

Liberty Property Trust today announced that Tuesday Morning Corporation has signed a ten year lease for 593,600 square feet at Liberty Logistics Center I in Phoenix. The national retail chain will occupy the entire facility, located at 563 S. 63rd Avenue, in September. Liberty acquired the building in 2013 and marketed the facility to potential…

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Walker & Dunlop Closes Largest Deal in Company History

Walker & Dunlop, Inc. (NYSE: WD) (the “Company”) announced today it has originated $670,000,000 in senior housing loans, secured by a 52-property portfolio owned by New Senior Investment Group, Inc. (the “Sponsor”). The loans were structured as seven year adjustable rate mortgages under the Freddie Mac Seller/Servicer Program. This is the largest deal Walker &…

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Distribution Company Purchases Phoenix Industrial Property

DTZ, a global leader in commercial real estate services, announced today the $3.1 million sale of 3000 E. Chambers Street, a ±61,729 square foot single-tenant industrial building in Phoenix. MLCY Investment, LLC purchased the property and will occupy the space, which includes 26% office buildout and an evaporative-cooled warehouse with grade-level doors and a double-wide…

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Stiles Announces Executive Leadership Succession Plan Slated to Begin within 24 Months

Stiles, a Fort Lauderdale-based full service real estate development firm established in 1951, announced today important developments in the company’s leadership succession plan. The succession of two key roles, CEO and president, will occur within the next 24 months. Under the plan, the roles of chairman and CEO will be separated. Chairman and CEO Terry…

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