CBRE Completes $6 Million Sale of a 104,352-Square-Foot Manufacturing & Distribution Building in Chandler, Ariz.

CBRE has completed the sale of a 104,352-suqare-foot manufacturing facility in Chandler, Ariz. The building, located at 464 E. Chilton Dr. in Chandler, Ariz., sold for $6 million. The building was fully occupied at time of sale. Mike Parker and Evan Koplan with CBRE’s Phoenix office had previously negotiated the lease on behalf of the…

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Cushman & Wakefield Negotiates Nearly $29.6 Million Sale Of Five-Building Agave Center

Cushman & Wakefield of Arizona, Inc. has negotiated the $29.593 million sale of the distinctive five-building office/flex development project known as Agave Center.  Agave Business Center (55,221 rentable square feet), located at 8945 S. Harl Ave., is 71 percent occupied and enjoys one of the largest remaining blocks of potential “creative” space along the I-10…

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The Opus Group® Announces Opening of Phoenix Office and Appointment of Lawrence Pobuda as Senior Vice President and General Manager

The Opus Group (Opus) announced today it is opening an office in Phoenix and has hired 26-year industry veteran Lawrence (Larry) Pobuda as senior vice president and general manager of Opus Development Company, L.L.C. “We see significant growth potential in Phoenix, particularly in the sectors in which we have expertise,” said Tim Murnane, president and CEO of…

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La-Z-Boy Home Furnishings Opens Scottsdale Fashion Square New Format Store

Velocity Retail Group was presented a challenge from their longtime client,La-Z-Boy.  The challenge was to find a location at Scottsdale’s Fashion Square Mall for a new store.  The retail market surrounding this successful mall is very tight, with few suitable vacancies occurring.  Darren Pitts, Executive Vice President at Velocity Retail in partnership with Bob Crum…

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CBRE Completes $2.7 Million Sale of Town Square at Surprise in Surprise, Ariz.

CBRE has completed the sale of Town Square at Surprise located at 14155 W. Bell Road in Surprise, Ariz. The free-standing, ±12,771-square-foot retail strip center commanded a sale price of $2.7 million. The property was 81 percent leased at time of sale. Barry Gabel, Chris Marchildon, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office…

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Prologis Riverside Distribution Center in Phoenix Sells for $13.2 Million

Cassidy Turley, a leading commercial real estate services provider in the U.S., announced the sale of Prologis Riverside Distribution Center, a ±250,796-square-foot industrial project at 2225 South 43rd Avenue in the Southwest Phoenix submarket. Pennsylvania-based Exeter Property Group purchased the property for $13.2 million ($52.63/psf) from San Francisco-based Prologis. Cassidy Turley Executive Managing Directors Andy…

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BH Properties Continues Southwest Growth with Acquisition of Papago Crossing

BH Properties, a Los Angeles-based firm that specializes in acquiring and repositioning challenged or distressed real estate properties, has purchased the Papago Crossing apartments in Phoenix for $8.1 million. The move further advances the firm’s investment strategy in the region.  BH Properties has significantly expanded its Southwest portfolio, with primary sales spanning the multifamily and…

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Jared Langenhuizen Joins Cassidy Turley as Senior Vice President

Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced that Jared Langenhuizen has joined the firm’s Project and Development Services division as Senior Vice President in the Phoenix office. Mr. Langenhuizen will be responsible for managing all phases of the development process, including ground-up projects, redevelopments and tenant improvements. “We…

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Marcus & Millichap Arranges The Sale Of A 1,344-Square-Foot Retail Property

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Taco Bell, a 1,344-square-foot retail property located in Yuma, Ariz., according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $410,000. Chris Doty, an investment specialist in Marcus & Millichap’s…

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