JLL Hires Chris Latvaaho as Vice President in Phoenix Office Leasing Group

The Phoenix office of JLL has hired local broker Chris Latvaaho as Vice President in its Phoenix office leasing group. Latvaaho joins the existing JLL team of Managing Director John Bonnell and Vice President Brett Abramson, who specialize in agency representation for existing and ground-up developments, and both institutional and entrepreneurial landlords. Prior to Joining…

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BASCOM ADDS TO APARTMENT PORTFOLIO . . . PAYS $40.5 MILLION FOR 408 UNITS IN PHOENIX

A company formed by Bascom Arizona Ventures LLC paid $40.5 million ($99,265 per unit) to acquire the 408-unit Indigo Creek apartments located at 14221 N. 51st Avenue in Glendale. The seller was CFS Indigo Creek LLC, a company formed by Falcon Southwest in Austin, Tex. (Phil Capron, pres.). The transaction was brokered through Steve Gebing…

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Hayden House Tempe, LLC Purchases Mill and Rio Salado Site

Cassidy Turley, a leading commercial real estate services provider in the U.S., has announced that Hayden House Tempe, LLC, a partnership between San Diego-based Douglas Wilson Companies (Douglas Wilson, Chairman and CEO), Hensel Phelps Development LLC, a subsidiary of Hensel Phelps based in Greeley, CO, (Jeff Wenaas, President) and Los Angeles-based Karlin Real Estate closed…

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DCT Industrial Trust Acquires Tempe Warehouse Portfolio for $26.44 Million

Cassidy Turley, a leading commercial real estate services provider in the U.S., announced that DCT Industrial Trust has acquired a three property warehouse portfolio from a Chicago-based global investment manager for $26.44 million. Located in Tempe, AZ, the 355,371 square foot portfolio includes: Roosevelt Center, 2405 and 2415 S. Roosevelt Street; Parkland Center, 7245 and…

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COMMERCIAL PROPERTIES INC., IS PLEASED TO ANNOUNCE THE SALE OF HEWSON DOVER BUSINESS PARK IN MESA, ARIZONA

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Hewson Dover Business Park. Tyson Breinholt, Trent Rustan and Josh Gosnell of CPI’s Tempe Office & Retail Group represented the seller in this transaction. The 11,424 SF, Class B office building is located at 4344 E. Presidio…

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CyrusOne Completes Construction of Its Second Phoenix Data Center in Record Time

Global data center provider CyrusOne (NASDAQ: CONE) announced today that its newest 120,000-square-foot Phoenix II data center facility is now operational, including the full commissioning of the pre-leased 30,000 square feet of colocation space (CSF) previously announced. The Phoenix II facility is ultimately planned to be 240,000 square feet and will be able to deliver…

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Colliers International Completes $11.85 Million Sale of Promenade at Desert Sky in Phoenix

Colliers International in Greater Phoenix recently completed the sale of Promenade at Desert Sky, a 300-unit Class B apartment complex in Phoenix, for $11.85 million, or $39,500 per unit. Desert Sky Estates, LLC, of Woodmere, New York, purchased the property, at 6233 W. Thomas Road, from WT Promenade LLC of Englewood, Colo. Bill Hahn, Jeffrey…

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BKM CAPITAL PARTNERS ANNOUNCES THREE MULTI-TENANT INDUSTRIAL PARK ACQUISITIONS WHILE RAISING $100M COMMINGLED FUND

BKM Capital Partners has acquired three multi-tenant industrial parks with a combined capitalization of $42.8 million on behalf of BKM Industrial Value Fund I, LP, according to Brian Malliet, CEO and Co-Founder of BKM. These are the first three assets to be included in the commingled fund, which targets final close in March 2015, and…

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Colliers International Completes Office Lease in Chandler Corporate Center

Colliers International in Greater Phoenix recently negotiated a multi-year 24,896-square-foot office lease at the Chandler Corporate Center. Arizona Priority Care of Chandler, which delivers medical care through a network of community physicians, leased the space at 585 North Juniper Drive from Garmin International, Inc., of Olathe, Kan. Two Colliers International teams negotiated the agreement. Associate…

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The Learning Journey: 42,623 SF Sale Leaseback Transaction

Cashen Realty Advisors announces the sale of the property located at 24435 N. 20th Drive in Phoenix. The 42,623 s.f. building is leased to The Learning Journey International, L.L.C. The Purchase Price was $4,643,568. The Buyer in the transaction was Learning Building, LLC, Principal Brice Samuel (602-840-2990). The Seller in the transaction was Alameda Investments,…

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Newmark Grubb Knight Frank Retained as Exclusive Leasing Agent for 3200 N Central

Newmark Grubb Knight Frank (NGKF) was retained as the exclusive leasing agent on the 344,187 square foot class A office property located in downtown Phoenix at 3200 N. Central Ave in Phoenix, AZ. The property is owned by the recently rebranded Everwest Real Estate Partners (formerly Alliance Commercial Partners) based out of Denver, Colorado. 3200…

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CUSHMAN & WAKEFIELD OF ARIZONA NEGOTIATES STARTUP COMPANY RELOCATION TO WAREHOUSE DISTRICT IN DOWNTOWN PHOENIX

Tuft & Needle, a startup mattress company, is relocating its headquarters to the Levine Machine Building in Downtown Phoenix’s warehouse district. Cushman & Wakefield of Arizona, Inc. negotiated a 5-year lease as Tuft & Needle relocates from Tempe to a 5,100-square foot facility at 605 E. Grant St. Tuft & Needle designs and manufactures a…

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PHOENIX RISING INVESTMENTS BEGINS REDEVELOPMENT OF 140,000 SF PROJECT CENTRICA IN MESA

Phoenix Rising Investments, LLC has begun redevelopment on Centrica, an up to 140,000-square-foot, Class A office building at 1550 W. Southern Ave. The adaptive re-use project located near the US 60/Loop 101 interchange in the Southeast Valley will turn three former big-box retail stores into an ideal location for companies seeking modern office space that…

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