Cushman & Wakefield of Arizona, Inc. negotiated the $11.4 million sale of a former electronics manufacturing/warehouse building at 615 S. River Drive. The 193,000-square-foot property was built in 1982, expanded in 1994 and expanded again in 1997. It includes 176,000 square feet of fully air-conditioned manufacturing and warehouse space and 17,000 square feet of office…Details
A premier technology company and a medical & chiropractic center recently completed leases at Hines’ Renaissance Square in downtown Phoenix. Executive Technology Inc. has leased almost 2,000 square feet over six years at One Renaissance Square, relocating its office from Tempe. ETI is a veteran-owned business that provides technology solutions for law enforcement agencies and…Details
Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announces the sale of Biltmore Courtyard, a 23-unit apartment property located in Phoenix. The asset commanded a sales price of $1.725 million, or $75,000 per unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus &…Details
Lincoln Plaza Shopping Center, located on the southwest corner of Scottsdale Road and Lincoln Drive in Scottsdale, was sold to an investment group for $25 million, or $330 per square foot. AJ’s Fine Foods is the supermarket anchor of the premier retail center that is poised for future redevelopment. Lee & Associates’ Fincham/Dempsey Investment Team,…Details
This summer, Opus broke ground on a 1.6 million-square-foot distribution center for long-time client, ConAgra Foods. The facility is so large that the curvature of the earth will vary approximately 1.4 inches from one end of the building to the other. ConAgra’s new dry foods distribution center will be located in Frankfort, Ind., helping consolidate…Details
Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, announces the sale of 15002 N. 25th Drive, a 43,584-square-foot industrial property located in Phoenix, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $2.45 million. Neal Waldman, investment specialist in…Details
Transwestern today announces it brokered a lease renewal and expansion at Gateway Center on behalf of the building owner, a joint venture between an Oaktree Capital Management LP affiliate and Pearlmark Real Estate Partners LLC. Health Choice Arizona leased an additional 21,669 square feet for a total of 74,000 square feet in the Class A…Details
SRS announces that Dollar Tree has leased a 9,306-square-foot space at the northeast corner of Main Street and Greenfield Road in Mesa. Dollar Tree joins Papa John’s Pizza as a tenant in the Fry’s-anchored shopping center. The Dollar Tree space was formerly occupied by Papa John’s Pizza; SRS negotiated the relocation and renewal of Papa…Details
Vestar announces the signing of Sprouts at Lake Pleasant Towne Center, located at the northwest corner of Happy Valley Road and Lake Pleasant Parkway in Peoria. Vestar is a privately held real estate company that acquires, develops and manages retail and entertainment destinations in the western United States. Sprouts will open Spring of 2015 in…Details
Vestis Group announces that Principals Natan Jacobs and Les Litwin have completed the sale of Nationwide Apartments, a 12-unit multifamily community located in the trendy Woodlea Melrose neighborhood in Midtown Phoenix, Arizona for $420,000 / $35,000 per unit. Miguel Loza and Javier Escobedo of Orange County, Calif. sold Nationwide Apartments, located at 4127 N. Ninth Avenue, in…Details
Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announces the sale of a 13,400 SF retail strip center located at 10636 N. 71st Way in Scottsdale. Matt Zaccardi of CPI’s Tempe Office represented the buyer in this transaction. Sundown Plaza, 10636 N. 71st Way, is a multi-tenant strip center formerly owned by…Details
The Broader View Following a lull in the first few months of 2014, the Greater Phoenix retail market strengthened in the second quarter. Tenants stepped up leasing activity, vacancy tightened and rents ticked higher. The positive retail real estate trends should continue in the coming months, buoyed by annual retail sales growth in the 7-8…Details
Colliers International Completes 10,000 Square Foot Lease for Canadian Educational Company Launching into the U.S.
Colliers International in Greater Phoenix recently completed a 10,000 square foot lease at a Costco Plaza in Tempe to a Canadian educational company. Maple Bear Schools will lease space at 1255 E. Elliot Road from GDA Real Estate LLC of Colorado Springs, Colo., to launch operations for an expansion into the western United States. The…Details
Velocity Retail Group, LLC completed 16 deals in July. Representing Garden Ridge, Darren Pitts of Velocity Retail Group leased 104,967 square feet at Arizona Mills on the northeast corner of Baseline Road and the I-10 in Tempe, AZ in a three-year lease. The landlord, Simon Property Group was represented by Todd Folger of CBRE. Planning…Details
Sweetland leases and sells industrial properties with a specialization in freestanding owner/user buildings and multi-tenant developments. Clients served by Sweetland include Western Refining, Harsch Investment Properties, Westcore Properties, Washington Federal, MDI Capital, Panattoni Development, Equity Building Services, City National Bank and GE Capital.
Sweetland brings to Cushman & Wakefield more than 16 years of experience in the industrial real estate market. He spent 13 years practicing in the Las Vegas market and has worked in the Metro Phoenix area for the past three years.
“We are thrilled to have Paul join us as we continue to grow our industrial presence in the greater Phoenix market,” commented Joe Cook, C&W’s COO, U.S. Markets.
Sweetland holds the designation of Society of Industrial and Office Realtors (SIOR). He earned real estate licenses from both the Arizona School of Real Estate and Business and the Nevada School of Real Estate and Business.