Commercial Properties Reports on December Transactions

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is happy to report its Top Five December transactions. In total the firm completed 137 transactions in December for a total of 493,145 square feet. Leading the Lease Transactions Category, Tenant Representatives Eric Butler and David Verwer leased out 10,000 SF of Office space…

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NGKF Completes $1.3M Sale of North Mountain Professional Plaza

Newmark Grubb Knight Frank is pleased to announce the sale of the ±9,850 square-foot single-story office building located at 1850 E. Thunderbird Rd in Phoenix, AZ.   Managing Director Sheila Bale and Associate Ryan O’Connor both with Newmark Grubb Knight Franks’ Phoenix office, represented the Buyer, SAPO Properties, LLC.  The property was purchased for $1.325M…

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2014: Year of Transition for Phoenix CRE Market According to NAI Horizon Economic Outlook

NAI Horizon’s 2014 Economic Outlook points to a prosperous 2015 as 2014 continues to stabilize the once uncertain economic climate. President and CEO of NAI Horizon, Thad Seligman, stresses the importance of positive employment news.  “In the final analysis, job growth is the key to our recovery in Arizona and it looks like we will…

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Cassidy Turley Completes $1.3 Million Sale of North Mountain Professional Plaza

Cassidy Turley announced they successfully sold North Mountain Professional Plaza, a ±9,850-square-foot multi-tenant office project at 1850 E. Thunderbird Rd. in Phoenix. LDP Associates (Phoenix) purchased the property for $1,325,000 ($134.52/psf) from North Mountain Professional Plaza, LLC. Executive Managing Director Eric Wichterman, and Senior Vice Presidents Mike Coover and Andy Cloud with Cassidy Turley negotiated the…

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Vestar and UBS Global Asset Management Acquire Orchard Town Center in Denver For $123.5 Million

Vestar, in a joint venture with a fund advised by UBS Global Asset Management, announced today that it has acquired Orchard Town Center, a 914,000-square-foot open-air regional retail center located in Westminster, Colorado for $123.5 million in an all cash transaction.  This marks Vestar’s first acquisition in the Denver market.  The acquisition of Orchard Town…

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CBRE Negotiates $3.6 Million Sale of Two Industrial Buildings Totaling 129,690 Square Feet in Tempe

CBRE has negotiated the sale of 1868 and 1872 E. Broadway in Tempe, Ariz. The two industrial buildings, totaling 129,690 square feet, commanded a sale price of $3.6 million. Evan Koplan and Mike Parker with CBRE’s Phoenix office represented the buyer, Hypertec USA, which is a subsidiary of Saint-Laurent, QC, Canada-based Ciara Technologies in the…

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125,292 Square Foot Dunn-Edwards Buildings Sell to Canadian Tech Co. for $3.6 Million

Two industrial buildings at 1868-1872 E. Broadway Rd. in Tempe, totalling 125,292 SF, have been sold for $3.6 million. The buyer was Hypertec Capital, LLC of Quebec, Canada. Hypertec is one of the leading providers of information technology products and services and has more than 3,000 customers in over 60 countries. Lee & Associates Arizona principals Allen Lowe and Rick…

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Chelsea Maddox Joins Cushman & Wakefield as Director of Healthcare Practice Group

Cushman & Wakefield of Arizona announced that Chelsea Maddox has joined the company as Director of Brokerage Services, Healthcare Practice Group.  Maddox will provide comprehensive healthcare real estate consulting services including representation on the leasing and sales of medical office space to owners and tenants.  Maddox spent the past year with Healthcare Trust of America,…

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Marcus & Millichap Arranges Sale of 5,000-Square Foot Net-Leased Property

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of US Bank Ground Lease, a 5,000-square foot net-leased property located in Phoenix, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $3.458 million. Jamie Medress and Mark Ruble,…

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