Commercial Properties Inc., Announces the Sale of the Offices at Sundown Ranch

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of The Offices at Sundown Ranch. Eric Butler of CPI’s Scottsdale Office Group represented the seller in this transaction. The 6,291-square-foot, Class B office condo is located at 8434 E Shea Blvd., in Scottsdale, Arizona and is right…

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CBRE Hires First Vice Presidents Brian F. Raczynski and Tim Watters

CBRE has hired First Vice Presidents Brian F. Raczynski and Tim Watters, two tenured, well-respected commercial real estate professionals, to join the firm’s Office Services Group in Phoenix. They will partner on a team that will deliver integrated, strategic landlord advisory services including asset management and the acquisition, disposition and leasing of office space in…

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CBRE Completes Two Office Leases Totaling 67,335 Square Feet in Metropolitan Phoenix

CBRE has completed two office leases totaling 67,335 square feet in Metropolitan Phoenix. The leases are representative of new office requirements by the State of Arizona for the newly created Child Safety and Family Services agency (CSFS). A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties…

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P.B. Bell Companies and Davis Enterprises Selected to Redevelop Phoenix’s Historic Barrister Place Building

P.B. Bell Companies, a leader in multi-family housing and commercial real estate development and management, and Davis Enterprises, an investment and development company serving Arizona’s retail and office sectors for six decades, have been selected by the City of Phoenix to redevelop the historic Barrister Place building in downtown Phoenix. City officials chose the P.B.…

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Colliers International Completes $6.42 Million Sale of Villa Serena Apartments

Colliers International in Greater Phoenix recently completed the sale of Villa Serena, a 137-unit, class-B apartment complex, for $6.42 million, or $46,861 per unit. Janet LePage of North Vancouver, BC, purchased the complex, located at 4221 W. Dunlap Avenue, from Bligh Group, LLC, of Rancho Santa Fe, CA. Bill Hahn, Jeffrey Sherman and Trevor Koskovich,…

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California Investment Firm Takes Chandler Iridium Facility for $12.7 Million

A 69,429-square-foot flex manufacturing facility and an adjacent 2.97-acre parcel at 1800 S. Price Road in Chandler has been sold for $12.65 million. The building is fully leased to Iridium Communications with an estimated 10 years remaining on their lease. Cohen Asset Management, Inc., a California-based private real estate investment firm purchased the building from…

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CBRE Completes $150 Million Sale of Retail Portfolio Including Village Center

CBRE has completed the sale of the Phillips-Edison Fund IV Portfolio. The nine-property retail portfolio sold for $150 million and totals over 1.35 million square feet. Jesse Goldsmith and Steve Julius of CBRE in Phoenix, Ariz., along with Christian Williams and Gleb Lvovich of CBRE’s National Retail Investment Group, negotiated the sale between the seller,…

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Cassidy Turley Announces Purchase of St. Luke’s Medical Building for $8.45 Million

Cassidy Turley, a leading commercial real estate services provider in the U.S., has announced the successful sale of a ±49,816-square-foot medical office building at 555 North 18th Street in Phoenix’s Downtown Submarket. San Francisco-based Stockbridge Funds purchased the property for $8.45 million ($169.62 per square foot) from Chicago-based Heitman Real Estate Investment Management. Executive Managing…

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NorthMarq Capital Arranges $22.8 Million in Acquisition Financing for Ocotillo Springs

James DuMars, SVP/managing director of NorthMarq Capital’s Phoenix office and Michael Elmore, EVP/managing director of NorthMarq Capital’s Los Angeles office secured $22.8 million in acquisition financing for Ocotillo Springs, a class-A 272-unit multifamily property located at 825 W. Queen Creek Road in Chandler, Arizona. The transaction was structured with a seven-year term with three years…

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