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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Levrose/TCN Worldwide Sells Scottsdale Office Building for $2.45 Million

Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a 37,270 square foot office building in Scottsdale for $2,450,000, or $65.74/square foot. The sale was facilitated by Kelly O’Dea of Levrose/TCN Worldwide. Collection Service Bureau, Inc., a company who exclusively specializes in receivables management and recovery solutions for the healthcare industry, purchased the building…

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Commercial Properties Inc., Announces Sale of Harris Park Professional Plaza

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Harris Park Professional Plaza. Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Group represented both the buyer and seller in this transaction. The 27,864-square-foot, Class-B office building is located at 1550 E McKellips Road in Mesa,…

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Lincoln Property Co. Acquires Freeport Distribution Center in Phoenix

Lincoln Property Company (LPC) has acquired the two-building, 219,240-square-foot Freeport Distribution Center industrial project in southwest Phoenix. Freeport Distribution Center is located at the northwest corner of Buckeye Road and 51st Avenue, just minutes from the Phoenix Sky Harbor International Airport. The project is a close-in infill site offering immediate connectivity to the I-10, I-17…

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Partial Condominium Community Near Arizona State University in Tempe Sold

ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the sale of 22 of 54 units at Rialto Condominiums, a community near Arizona State University. Converted and renovated with condo grade finishes in 2006, the 22 units with HOA control sold for $1,530,435 or approximately $69,565 per unit. “The economic…

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Cassidy Turley Assist in $14 Million Sale of Scottsdale Retail Center

Cassidy Turley, a leading commercial real estate services provider in the U.S., has announced that Hayden Crossing Shopping Center, a 63,446-square-foot neighborhood retail center at 8015-8035 E. Indian School Road sold for $14 million ($221.38 per square foot). Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the…

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