ViaWest Group Acquires “ConneXion” Asset in ASU Research Park for $5.25M

ViaWest Group is pleased to announce a new addition to its expanding portfolio, with the recent successful acquisition of the 49,464 SF multitenant office building located at 7855 S. River Parkway, Tempe, Ariz. in the desirable ASU Research Park. ConneXion (previously referred to as Transamerica Research Center) is one of the only multi-tenant buildings located…

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Hunt Companies Appoints Eli Gage CEO of CGL Management Group LLC

Hunt Companies, Inc. today announced that, effective March 1, 2015, Eli Gage will become Chief Executive Officer of CGL Management Group. CGL, a wholly-owned subsidiary of Hunt, is a leader in the justice infrastructure sector, providing facility planning and design, program management and facility maintenance, as well as development and finance capabilities for both U.S.…

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European Aluminum Glazing Company Reynaers Chooses Phoenix, to Launch its Premium Homes Portfolio to the North America Market

Reynaers, Inc., European manufacturer of aluminum glazing products, announced this month that it has opened a North America headquarters in Phoenix, where it plans to create up to 150 jobs over the next three years in its nearly 30,000-square-foot manufacturing facility. “We are thrilled to open our new headquarters in the US,” said Reynaers North…

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IPA Opens North Scottsdale’s Newest Luxury Apartment Community

Investment Property Associates (IPA) celebrated the grand opening of its first multifamily development in Scottsdale with a ribbon cutting ceremony at Liv North Scottsdale. The luxury apartment community is situated on 5.83 acres near the corner of Scottsdale Road and Greenway Hayden Loop in North Scottsdale. IPA co-developed the property with PB Bell & Associates.…

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MARCUS & MILLICHAP SELLS MULTIFAMILY ASSET IN CENTRAL PHOENIX

Marcus & Millichap Real Estate Investment Services has announced the sale of Toscana Apartments, a 24-unit apartment community located in Central Phoenix, Arizona. The asset commanded a sales price of $1,750,000 or $72,917 per unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing assignment to…

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NorthMarq Capital negotiates $41 million in acquisition financing for Campus Marketplace in San Marcos, California

James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based regional office secured acquisition financing of $41 million for Campus Marketplace, a 144,287 sq.ft. retail property located at 300-380 S. Twin Oaks Valley Road in San Marcos, California. NorthMarq arranged financing for the borrower through a CMBS lender. Major tenants include Ralph’s and CVS.…

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WOOD PARTNERS AND AMERICAN REALTY ADVISORS ACQUIRE 350-UNIT MULTIFAMILY COMMUNITY IN PHOENIX’S CAMELBACK EAST SUBMARKET

Wood Partners, LLC, in partnership with American Realty Advisors, has acquired Pinnacle Towne Centre, an existing 350-unit multifamily community at 1601 E. Highland Avenue in Phoenix’s Camelback East submarket, and plans to renovate the property into an upscale townhome community named Altera Highland. “Built in 1998, Pinnacle Towne Centre offers Wood Partners the opportunity to…

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THOMAS BRADFORD COMMUNITIES ACQUIRES NEWPORT MESA APARTMENTS IN MESA, ARIZ.

Thomas Bradford Communities has acquired Newport Mesa Apartments at 1620 W. Southern Avenue in Mesa’s Fiesta District and is launching an “urban repositioning campaign” that will bring a fresh, updated feel to the 156-unit property, which has been renamed Urban Trails @ The District. “With its urban location near Starbucks, Pita Jungle and other trend-setting…

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JLL Closes $18 Million Indigo Multifamily Sale

The Phoenix office of JLL has completed the $18.1 million investment sale of Indigo, a formerly fractured Phoenix condominium asset that over 24 months was transformed into a high demand, 108-unit Class A apartment community. JLL Executive Vice President John Cunningham and JLL Vice President Charles Steele represented the seller, Seattle-based Goodman Real Estate. The…

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