Oct. 22, 2013- Transwestern today announced it brokered the sale of Dorsey Place, an 84-unit, condominium-style apartment building on East University Drive in Tempe, Ariz., for nearly $15 million. San Diego, Calif.-based Stratford Partners and Pathfinder Partners, which had purchased the building in 2011, sold the building to a joint venture between Diversified International Partners…Details
Circle K Stores, Inc. has leased the former Shell service station at the SWC of 75th Avenue & Thomas Road in Phoenix. Circle K plans on opening before the end of the year. Tyson Switzenberg with SR Commercial represented the Tenant, Circle K Stores Inc., in the transaction. The Landlord was TradeCor Desert Sky, LLC.…Details
Oct. 21, 2013- Southwestern Business Financing Corporation (SBFC) –Arizona’s leading SBA 504 lender – today announced that the Board has appointed Teresa Mandelin as President and CEO of SBFC. Mandelin has more than 20 years of banking experience, having specialized in SBA lending since 1992. For the past 10 years as SBFC’s SVP of Commercial Loans, she…Details
October 21, 2013 – Cassidy Turley, a leading commercial real estate provider in the U.S., has sold a 5.4 acre multi-family development site approved for 316 units at 75th Street and Stetson Drive in Downtown Scottsdale. A partnership formed by Alliance Residential (Bruce Ward, Bob Hutt, Jay Jimenez, Ian Swiergol) purchased the property for $18,500,000,…Details
Oct. 21, 2013- SRS Real Estate Partners welcomes Jon Cowen as senior vice president in the Phoenix office. A well-known name in the Arizona market, Cowen brings a wealth of experience and relationships to SRS. He will focus on representing local and national retailers, shopping center leasing and development, and investment sales. Cowen has more…Details
Nucare Properties, LLC of Phoenix, Ariz. has purchased Sun West Apartments, a 20-unit multi-family property located at 2501 W. Elm St. in Phoenix Ariz., from Northwest Valley Property & Associates LLC. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the Phoenix-based seller in negotiating the $485,000 sales transaction.
Oct. 21, 2013- Renee Ervanian, managing broker at Western Pacific Commercial, represented BC Logistics, LLC in a 12,427 square foot lease at Baseline Foothills, located at 4405 East Baseline Road, Phoenix, AZ.
The lease term is sixty-five months. Mike Kasulaitis at Voit Real Estate Services represented the Landlord.
Oct. 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of IHOP, a 4,332-square foot net-leased property located in Casa Grande, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,892,000. Mark Ruble and Jamie…Details
Oct. 21, 2013 – ORION Investment Real Estate’s Vice President, Nick Miner, CCIM, exclusively represented the FDIC in the disposition of 3 different land sites throughout the Phoenix Metropolitan area. Totaling nearly 13 acres, the sites were part of a takeover of local community bank. The Federal Deposit Insurance Corporation is an independent agency created…Details
Oct. 18, 2013 – Marcus & Millichap Real Estate Investment Services has announced the sale of Camelback Springs Apartments, a 28-unit apartment community located in the Camelback Corridor in Phoenix, Arizona, according to Don Morrow, regional manager of the firm’s Phoenix Office. The asset commanded a sales price of $1,932,000 or $69,000 per unit. Brian…Details
Oct. 18, 2013- On Thursday, October 17, 2013, at the Arizona State Land Department, 1616 W. Adams Street, Phoenix, 193.4 acres of State Trust land was auctioned to the highest bidder. The land, located on the northeast corner of Signal Butte Road and Guadalupe Road in Mesa, was appraised at $30 million. The final sale…Details
Cohen Financial Arranges More Than $8.2 Million Refinancing For Portfolio of Eleven Retail Properties
Oct. 17, 2013- Cohen Financial, a national real estate capital services firm, today announced that its Phoenix office has secured $8.298 million to refinance a portfolio of 11 single tenant retail properties located in Arizona, Illinois, Indiana, Kansas, Louisiana, Michigan, Ohio, Texas and Virginia. The portfolio consists of eight Family Dollar stores, one Dollar General,…Details
The first phase of the Paradise Hills Shopping Center remodel has been completed. The retail shopping center located at the northwest corner of 32nd Street & Shea Boulevard was purchased by Paradise Hills Shopping Center LTRL, LLC in the spring of 2013. Existing buildings were updated with new colors and tower elements, metal lattice, and an…Details
On Thursday, Oct. 17, 2013, at the Arizona State Land Department, 1616 West Adams St., Phoenix, 193.4 acres of State Trust land will be auctioned to the highest bidder. The land, located on the northeast corner of Signal Butte Road and Guadalupe Road in Mesa, is appraised at $30 million. What will surely be competitive…Details
Cushman & Wakefield of Arizona, Inc. has been selected to handle leasing of Biltmore Commerce Center, a Class A office property located at 3200 E. Camelback Rd. The property, which was recently purchased by DPC Development Company of Denver, will undergo a significant modernization and re-positioning in the Camelback Corridor. The mid-rise office building, which…Details