Commercial Properties Inc., Is Pleased To Announce The Sale Of A 74,514 SF Industrial Property In Gilbert

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a 74,514 SF industrial property located at 1620 W. Sunrise Blvd., in Gilbert Arizona.  Jeff Hays, Chad Neppl, and Jim Stockwell and Mike Goldwater of CPI’s of Tempe Office handled both side of the deal. Jeff Hays…

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Parallel Capital Partners Leases Nearly 100,000 Square Feet of Commercial Space at Landmark Phoenix High Rise

    Following a nearly $3 million renovation of the landmark US Bank Center in downtown Phoenix, Parallel Capital Partners has renegotiated nearly 100,000 square feet and more than $25 million in total lease consideration with existing tenants Valley Metro Rail Inc. (57,074 square feet renewed to 2026); Xerox (31,861 square feet renewed to 2020);…

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CBRE Negotiates Sale of Southbank Business Center in Phoenix; Buyer to Renovate and Reposition Asset for Market

CBRE has completed the sale of a Southbank Business Center located at 3279, 3401, 3411 and 3421 E. Harbour Dr. in Phoenix. Financial terms of the sale of the four-building, 108,285-square-foot industrial/flex property were not disclosed. Mike Parker and Evan Koplan with CBRE’s Phoenix office represented the buyer, Newport Beach, Calif.-based Turner Real Estate Investments.…

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CBRE Releases Recent Leasing Transactions in Metropolitan Phoenix

CBRE’s Phoenix office has released the following recent leasing transactions for the metropolitan area: Wells Fargo Tenant Advisors has renewed a 5,000-square-foot lease for office space at 12515 W. Bell Rd. in Surprise, Ariz. Kevin Calihan with CBRE’s Phoenix office represented the tenant. The landlord, Nellis Family Investments, LLC, was represented by Alan Davidson with…

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Transwestern Expands Phoenix Multifamily Team With Addition Of Financial Analyst Derek Iannelli

Transwestern today announces Derek Iannelli has joined its Phoenix office as a financial analyst on the multifamily investment services team. Iannelli will bolster the firm’s capabilities by providing financial modeling, analytical and consultative services to Transwestern’s multifamily clients in the Greater Phoenix area. “We are incredibly excited to bring Derek’s talent and expertise to bear…

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Artemis Realty Capital, LLC Funds $6.245 Million For A 198-Unit Multifamily Property In Glendale

Artemis Realty Capital has recently funded a 6.245MM bridge loan at 65% LTC for Northwest Gardens, a 198-unit Class B community located in northwest Phoenix on 67th Avenue.  The California based investment group acquired the property for 9.005MM and plans to spend 600M on capital expenditures.  With the closing of this loan, Artemis has successfully funded…

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LGE Design Build Breaks Ground On New Manufacturing Facility For Galco International

LGE Design Build today announced the groundbreaking of a new manufacturing facility and corporate headquarters for Galco International, an industry leader noted for its high quality and innovative holster designs, has called Phoenix its corporate home since 1980. The new headquarters, a 21,935 square foot facility located at 2025 W. Quail Ave. in Phoenix, replaces…

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CBRE Multifamily Investment Group Negotiates Three Transactions Totaling $12.3 Million in Metropolitan Phoenix

CBRE has negotiated the following multi-family sales transaction(s): 7102 North 43rd Avenue Partners, LLC of Denver, Colo. has purchased the Paradise Vista apartment complex, a 352-unit multi-family property located at 7102 N. 43rd Ave. in Glendale, Ariz., from Paradise Vista Affordable Apartments, LLC of San Diego, Calif. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix…

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De Rito Partners redeveloping retail center in Mesa, Arizona

De Rito Opportunity Investors, LLC, a company formed by De Rito Partners in Phoenix (Marty De Rito, Iver Bowden, Doug Himmelberger, Principals) has purchased the retail plaza and adjacent drive-thru in Mesa, Arizona, located at the southeast corner of Southern Avenue & Stapley Drive for $2,250,000. The 84,890 square-foot center, was owned by Brixmor GA Apollo II Sub, LLC.   The…

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Sperry Van Ness Negotiates the Sale of Country Aire Apartment Complex in Phoenix for $2.8 Million

Neil Sherman and Carrick Sears, multifamily specialists in the Phoenix office of Sperry Van Ness, negotiated the $2,825,000 sale of Country Aire Apartments located at 1701 N. Palo Verde Drive in Goodyear, Ariz. The buyer, Univest, Inc of Newport Beach, Calif., purchased the 60-unit complex from Industrial Alliance Pacific Insurance & Financial Services Inc. Sherman…

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Commercial Furniture Installer Takes 45,307 SF Warehouse for $2.98 Million

Precision Installation, Inc., a local commercial furniture and equipment installer, has purchased a 45,307 SF warehouse property at 8201 S. 48th St., Phoenix for $2.98 million or $65.66 per square foot. They will relocate their corporate headquarters from their current Mesa, Ariz. location. Lee & Associates principals Rick Robertson and Scott Smith brokered the transaction on behalf of the…

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