Velocity Retail Group, LLC completed 16 deals in July. Representing Garden Ridge, Darren Pitts of Velocity Retail Group leased 104,967 square feet at Arizona Mills on the northeast corner of Baseline Road and the I-10 in Tempe, AZ in a three-year lease. The landlord, Simon Property Group was represented by Todd Folger of CBRE. Planning…Details
Sweetland leases and sells industrial properties with a specialization in freestanding owner/user buildings and multi-tenant developments. Clients served by Sweetland include Western Refining, Harsch Investment Properties, Westcore Properties, Washington Federal, MDI Capital, Panattoni Development, Equity Building Services, City National Bank and GE Capital.
Sweetland brings to Cushman & Wakefield more than 16 years of experience in the industrial real estate market. He spent 13 years practicing in the Las Vegas market and has worked in the Metro Phoenix area for the past three years.
“We are thrilled to have Paul join us as we continue to grow our industrial presence in the greater Phoenix market,” commented Joe Cook, C&W’s COO, U.S. Markets.
Sweetland holds the designation of Society of Industrial and Office Realtors (SIOR). He earned real estate licenses from both the Arizona School of Real Estate and Business and the Nevada School of Real Estate and Business.
RETAIL SALES: The Hinkson Company, LLC purchased a 50,467 SF retail building, known as Glendale Center, located at 5139 W. Glendale Avenue in Phoenix for $2,600,000 or $51.51 PSF. Erin Schrauth, Peter McQuaid and Greg Vanlerberghe represented the seller, GLC Glendale Holdings, LLC. Lead Charter purchased a 16,000 SF retail building, known as Cooper Square,…Details
Cushman & Wakefield of Arizona’s Multifamily Advisory Group recently negotiated the $25.5 million sale of The Colonnade Apartments, a 415-unit multifamily property located at 1930 E. Camelback Road. Built in 1968 and 1973, The Colonnade is an urban, garden-style apartment community located in the heart of the Camelback Corridor, providing a live-work-play experience for residents.…Details
The Phoenix-area housing market is officially in a slump, according to a new report from the W. P. Carey School of Business at Arizona State University, which reveals the latest details on Maricopa and Pinal counties, as of June: • Though the median single-family home price went up 11 percent from last June, the forward…Details
Cassidy Turley announced that BKM Capital Partners (Irvine, Calif.) acquired Black Canyon Business Park, a ±219,090-square-foot business park at 8041 N. Black Canyon Freeway for $13.1 million. The seller was Business Properties (Irvine, Calif.). Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley with Cassidy Turley’s Capital Markets Group and Vice President John Pompay…Details
ABI Multifamily Facilitates Sale of Fully Renovated Luxury Community in the Heart of Central Scottsdale
ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the sale of a premier luxury community in the heart of Central Scottsdale. This 151 Unit garden-style fully renovated multifamily community, located in an excellent in-fill area of Central Scottsdale – Miramonte Apartments – sold for $18,500,000, or approximately $122,500 per…Details
Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 18 at Biltmore, a 51-unit apartment property located in the prestigious Biltmore neighborhood of Phoenix. Brian Tranetzki, Rich Butler, Cliff David and Steve Gebing, multifamily investment specialists in Marcus & Millichap’s Phoenix…Details
An 8.56 acre commercial parcel at the SEC of Germann and Stearman roads sold for more than $2.22 million or $5.95 per square foot. The fully improved parcel is located in First Chandler Business Park and will be the future home of Crown Castle, a wireless infrastructure provider. Plans call for the construction of a…Details
Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease bringing a new location of Western Career Institute to 7107 N. Black Canyon Highway. The educational institution has leased the entire 6,805-square-foot, freestanding building and plans to take occupancy at the end of this year. Western Career Institute of Tempe is among the leading teaching…Details
Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, recently brokered a 10,093 SF industrial warehouse building located at 1929 N. Rosemont in Mesa. Andy Jaffe, SIOR, and Rex Griswold of CPI’s Tempe Office represented both the buyer and the seller in this transaction. The reinforced concrete building was built in 2000, and…Details
CBRE’s Tucson office has released the following recent leasing transactions for the greater Tucson area: Jelodon HC has leased 1,383 square feet at Campbell Plaza Shopping Center located at 2800-2990 N. Campbell Ave. in Tucson. The landlord, Campbell Plaza Two, LLC, was represented by Bruce Suppes with CBRE’s Tucson office. The tenant was represented by…Details
The Greater Phoenix multifamily market recorded mixed performance in the second quarter, but the short-term volatility should not mask the favorable long-term strengthening in local operating conditions. Since 2000, the Phoenix market has experienced one of the steepest declines in homeownership among major markets in the U.S., creating tens of thousands of additional renter households.…Details
Kitchell Development Company acquired nearly 20 acres at Interstate 10 and 28th Street, just south of Sky Harbor Airport in Phoenix for an industrial development. “Over the years we have developed several types of commercial projects including retail business parks, and multifamily, depending on the market climate,” says Senior Director of Development Ryan Cochran. “We’re…Details
Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for 23,288 square feet of industrial space at 5714 N. 51st Ave., bringing Sunbelt Rentals, Inc. to the property. This marks a new location for Sunbelt Rentals Inc., the second largest equipment rental company in the United States. Sunbelt took occupancy of the property this month…Details