Marcus & Millichap Arranges the Sale of 5,128-Square-Foot Net-Leased Property

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Brakes Plus, a 5,128-square-foot net-leased property located in Peoria, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,735,000. Mark Ruble and Jamie Medress,…

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Colliers International Completes $9.12 Million Sale of Dobson Springs

Colliers International in Greater Phoenix recently completed the sale of Dobson Springs, a 120-unit Class B apartment complex, for $9.12 million, or $76,000 per unit. The Standard-Mesa, LLC, of Denver, Colo., purchased the complex, located at 1325 W. Guadalupe Road in Mesa, from Synergy Dobson Springs LP in Phoenix. Bill Hahn, Jeffrey Sherman and Trevor…

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NorthMarq Capital Continues Relationship with Barclay Group to Finance Seven Retail Properties

James DuMars, senior vice president and managing director of NorthMarq Capital’s Phoenix office, has arranged financing on seven shadow-anchored shopping centers totaling $43 million. The class A assets are located in Arizona and Texas and include Fry’s Marketplace, Kroger, Target and Albertsons as the shadow anchors. NorthMarq arranged the financing through its relationship with New…

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Road Machinery Purchases 113,827-Square-Foot Warehouse for $9.2 Million

A Phoenix-based company bought a 113,827-square-foot industrial warehouse facility at 317 S. 48th St. in Phoenix for $9,200,000 or $80.82 per square foot. The transaction closed on Aug. 22. Lee & Associates Principal Ken McQueen represented the buyer, Road Machinery, LLC. The seller was Verde Investments, Inc. of Phoenix. The building, which sits on just…

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Vestis Group Acquires Alvarado Historic District Apartments in Phoenix

Vestis Group is pleased to announce that brokers Natan Jacobs, Les Litwin and Chad Barber have completed the sale of Alvarado Apartments, a 10-unit multifamily community located in the trendy Alvarado East Historic District neighborhood in Midtown Phoenix, Arizona for $425,000 / $42,500 Per Unit. Rolf Erikson of Solana Beach, California sold Alvarado Apartments, located…

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Commercial Properties Inc., Announces the Sale of the Offices at Sundown Ranch

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of The Offices at Sundown Ranch. Eric Butler of CPI’s Scottsdale Office Group represented the seller in this transaction. The 6,291-square-foot, Class B office condo is located at 8434 E Shea Blvd., in Scottsdale, Arizona and is right…

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CBRE Hires First Vice Presidents Brian F. Raczynski and Tim Watters

CBRE has hired First Vice Presidents Brian F. Raczynski and Tim Watters, two tenured, well-respected commercial real estate professionals, to join the firm’s Office Services Group in Phoenix. They will partner on a team that will deliver integrated, strategic landlord advisory services including asset management and the acquisition, disposition and leasing of office space in…

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CBRE Completes Two Office Leases Totaling 67,335 Square Feet in Metropolitan Phoenix

CBRE has completed two office leases totaling 67,335 square feet in Metropolitan Phoenix. The leases are representative of new office requirements by the State of Arizona for the newly created Child Safety and Family Services agency (CSFS). A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties…

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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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