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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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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Marcus & Millichap Sells 32-Unit Multifamily Asset In Downtown Phoenix For $1.7 Million

Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing assignment to market the property and negotiated the transaction on behalf of the seller, a private capital investor out of Southern California. Brock Danielson from KW Commercial Represented the Buyer, a private investor from Vancouver Canada. “Lexington…

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Groundbreaking Arrives for Phase I of Airport I-10 Business Park

Groundbreaking day has arrived for the first phase of Airport I-10—a Wentworth Property Company/Clarion Partners Class A industrial project being leased by the Phoenix office of JLL that, at completion, will represent one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history. Located at the northwest corner of 24th Street and Rio…

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Raising Cane’s® Chicken Fingers Continues its Arizona Expansion

Cassidy Turley, a leading commercial real estate services provider in the U.S., announced it has completed a  0.83-acres (36,213 square feet) build-to-suit lease for MRG Marketing & Management, Inc., Southwest franchise partner for Raising Cane’s Chicken Fingers, at Arrowhead Marketplace, located at the northwest corner of Bell Road and 79thth Avenue in Glendale. Cassidy Turley…

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