Colliers International in Greater Phoenix recently completed an 11,800-square-foot office lease in Surprise for One Step Beyond, Inc., a Peoria-based day training organization for individuals with developmental disabilities. One Step Beyond is leasing space at The Offices at Reems, an office condo project. The tenant signed a 10.5 year-lease for two buildings located at 15527…Details
Colliers International in Greater Phoenix has recently completed the sale of a Class C office shell in downtown Phoenix for $2.3 million, or $130 per square foot. Phoenix-based New City Church purchased the building, located at 1300 N. Central Ave., from Drapac Group of Los Angeles. The New City Church has experienced tremendous growth in…Details
Commercial Properties, Inc. Reports $1.1M Sale of a 10,196-square-foot Industrial Building In Chandler
Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, completed the $1.1 million sale of a 10,196-square-foot industrial service building located at 4041 W. Milky Way in Chandler. Leroy Breinholt of CPI’s of Tempe Office represented the owner in the transaction. The masonry building was built in 2006, has a fenced yard, and…Details
Cassidy Turley, a leading U.S. commercial real estate services provider, has been awarded the leasing assignment for Pecan Promenade, a 40-acre, 336,023-square-foot retail center on the northeast corner of 99th Avenue and Lower Buckeye Road by the property’s new owner, CIRE Equity of La Jolla. Cassidy Turley’s Brad Douglass and Chris Hollenbeck have the leasing…Details
Cashen Realty Advisors announces the $5.125 million sale of the property located at 9012 W. Bloomfield Road in Peoria. The 64,000 square-foot building is leased to Pima Door & Supply, Inc. There are eight years remaining on a 10-year Lease Term. The buyer in the transaction was Samuel Building, LLC, Principal, Brice Samuel, 602-679-0946. The…Details
NorthMarq Capital’s Denver based regional office secured the $5.3 million acquisition of Paradise Vista Apartments, a multifamily property containing 24, two-story buildings with 352 total units located at 7102 North 43rd Ave in Phoenix. The transaction was structured with an eight-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with…Details
Lee Associates brokered two Tempe properties recently for a total of $4.55 million.
59,375 SF Manufacturing Building Sells for $2.4M
A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4 million.
The 59,275 square-foot facility fetched $40.42 per square foot.
Lee & Associates principals, Matt Hobaica and Matt McDougall represented the seller, JCS, LLC of Tempe. The facility was the former home of All Pro Industrial, LLC.
Paul Timm of Trust Realty Advisors represented the buyer, Lexkel, Inc. of Mesa, AZ.
The 1981-built building sits on 3 acres and features heavy power, a fenced yard, natural gas, A/C and evaporative production areas and four grade-level loading doors. It is located just east of the Interstate 10 and the Broadway Road curve and with convenience to Phoenix Sky Harbor International Airport.
For more information, contact Matt Hobaica, 602-954-3755, firstname.lastname@example.org; or Matt McDougall, 602-474-9561, email@example.com.
18,730 SF Manufacturing Facility Trades for $2.15M
An 18,730 square-foot freestanding manufacturing facility at 609 W. Knox Road d. in Tempe, sold for $2.15 million or $114.79 per square foot an 11-day escrow.
Lee & Associates Arizona Principals represented both sides of the transaction. Stein Koss and Tom Louer represented the buyer, Broadway-Genesis, LLC of Tustin, CA while Ken McQueen, Principal, represented the seller, Fleet Wing Holdings, LLC of Tempe. The building previously was headquarters for Spectrum Aerospace.
The transaction was a 1031 exchange for the buyer and represented an 8.15 percent cap rate on a seven-year sale-leaseback.
Built in 2006, the two-story, single-tenant building features 4,000 square feet of office and two drive-in doors. The facility sits on 1.14 acres in south Tempe, off Kyrene Road, between Warner and Ray roads and is close to Interstate 10.
For more information, contact Stein Koss, 602-912-3520, firstname.lastname@example.org; Tom Louer, 602-954-3779, email@example.com; or Ken McQueen, 602.474.9564, firstname.lastname@example.org.
Colliers International in Greater Phoenix has sold two Scottsdale of two office-warehouse buildings for a total of $2.9 million. $2.9 Million Sale of 7327 E. Tierra Buena Lane in Scottsdale Colliers the $2.9 million sale of a 21,008-square-foot office/warehouse/flex building at 7327 E. Tierra Buena Lane in Scottsdale. The property was built in 1996. Henry Mohrschladt…Details
On behalf of Clarion Partners, the Phoenix office of JLL has completed a 93,489-square-foot lease with Benson Industries, LLC at Durango Commerce Center in Phoenix. The deal represents one of the largest industrial lease transactions in Phoenix’s Southwest Valley submarket this year. It also brings the 670,000-square-foot, two-building Durango Corporate Center to 91 percent occupied and…Details
After receiving close to a dozen offers during the 30-day marketing period, ORION Investment Real Estate announces the closing of Plaza Fountainside located at 12645 North Saguaro Blvd. in Fountain Hills for $4.1 million ($178 per square foot) to LIPA, LLC and KUNA, LLC, family partnerships with principals in California and Arizona. The seller was Pinciero, LLC…Details
The post-recession economic recovery has been spotty but trending upward, and the second quarter 2014 national office market data indicates the trend is still in the right direction, according to Cushman & Wakefield. Following a strong first quarter performance, the nation’s 44 major office markets continued to expand with vacancies falling, asking rents remaining stable…Details
CBRE’s Tucson office has released the following recent leasing transactions for the greater Tucson area: Ridgewood Associates, a full-service public relations and integrated marketing communications firm, has leased 2,378 square feet of office space at the Pioneer Building located at 100 N. Stone Ave. in Tucson, Ariz. Ridgewood Associates was represented by David Montijo and…Details
LGE Design Build, in conjunction with Architect Artie Vigil of AV3 Design, are transforming the site of the iconic Axis-Radius nightclub into two new venues they say will meet the changing needs of the area. Formerly Axis, Construction Complete on New Bottled Blonde Pizzeria & Beer Garden The group recently finished a complete renovation of…Details
Trammell Crow Company and Principal Real Estate Investors to Develop 219,000-Square-Foot Industrial Project in Deer Valley
Trammell Crow Company and venture partner Principal Real Estate Investors announce it will develop a 219,000-square-foot industrial park in Deer Valley. The complex will be situated on a 14-acre parcel at the northeast corner of 7th Street and Covey Lane in the Spectrum Ridge master-planned park in Deer Valley. Preliminary site plans show three buildings…Details
CBRE Completes 77,046-Square-Foot Lease at Goodyear Crossing Industrial Park, Schoeller Arca Systems, Inc. to Expand
CBRE has negotiated the lease of a 77,046 square feet space at Goodyear Crossing Industrial Park located at 3801 S. Cotton Lane in Goodyear. Schoeller Arca Systems, Inc., a Netherlands-based plastic injection molding manufacturer, has leased the warehouse and distribution space to accommodate production from its approximately 150,000-square-foot manufacturing facility located across the street at…Details