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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Goodyear Gateway South Lands First User; Michael Lewis Co. Purchases 30 Acres for Development

Goodyear Gateway South, the ±221 acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed. Pat Feeney, Dan Calihan and Rusty Kennedy with…

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Greystone Selected as One of First Approved Multifamily Lenders for Freddie Mac’s New Small Loans Program

Greystone, a leading national provider of multifamily and healthcare mortgage loans, announced it has been selected by Freddie Mac Multifamily to sell loans under the new Small Balance Loan offering. This new agency platform offers fixed-rate and hybrid adjustable-rate mortgage loans ranging from $1 million to $5 million on multifamily acquisitions or refinancings. “As the…

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CUSHMAN & WAKEFIELD LAUNCHING TECH WEBSITE FOR PHOENIX MARKET

Cushman & Wakefield of Arizona, Inc. announced the launch of C&W TechBeat (cushwaketechbeat.com/phoenix), an innovative website that will serve as a tool for technology startups and creative companies by offering the latest information, reports and trends in the Metro Phoenix real estate market. C&W TechBeat, designed in-house by Cushman & Wakefield marketing and research professionals,…

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IRGENS BREAKS GROUND ON PORTICO PLACE II IN CHANDLER, ARIZ. 48,173 SF, CLASS A MULTI-TENANT SPECULATIVE OFFICE BUILDING SLATED TO BE COMPLETED MARCH 2015

Irgens has broken ground on Portico Place II, a 48,173 sf, two-story, Class A multi-tenant office building located at 2195 West Chandler Boulevard. This speculative office building is being developed in response to growing demand for new, contemporary office space in the southeast Valley submarket by commercial office tenants. Current Class A office vacancy in…

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DONATIONS TO THE TUNE OF MORE THAN $8,000 RAISED AT VALLEY PARTNERSHIP’S INAUGURAL ROCK FOR A CAUSE CONCERT

Valley Partnership’s inaugural Rock For A Cause benefit concert raised more than $8,000 to purchase outdoor musical instruments for 2014 Community Project recipient Arizona Foundation for the Handicapped (AFH). The concert at the Monarch Theatre in Downtown Phoenix drew an estimated crowd of 300. More than 250 tickets were sold in advance. A total of…

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