Velocity Retail Group Awarded 1.5 Million Square Foot Leasing Portfolio From NorthStar

A leasing portfolio of 1.5 million square feet of retail shopping centers located throughout metropolitan Phoenix has been awarded to Velocity Retail Group.  The owners, NorthStar Realty Finance Corp. based in New York have a total real estate portfolio valued at over $3.5 billion nationwide.  The Phoenix portfolio consists of 11 separate properties located in…

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Lincoln Property Company and Carefree Partners Engage JLL on 267-Acre Goodyear Industrial Site

Lincoln Property Company (LPC) and industrial specialists in the Phoenix office of Jones Lang LaSalle (JLL) have collaborated to attract corporate design/build projects to a major new, multi-employer business park named Goodyear AirPark in Goodyear, Ariz. The announcement comes on the heels of a joint venture formed between LPC and property owner Carefree Partners Investments.…

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Cassidy Turley Completes $1.235 Million Sale of Los Alamos Center

Cassidy Turley, a leading commercial real estate provider in the U.S., announced today they successfully sold Los Alamos Center, a ± 22,050-square-foot industrial auto complex property at 3015 East Main Street in Mesa. WLA Investments, Inc. (Newport Beach, Calif.) purchased the property for $1,235,000.00 ($56.01/psf) from Los Alamos Center, LLC (Mesa, Ariz.). Senior Managing Directors…

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Cole Capital Launches New Office and Industrial Non-Listed Reit

Cole CapitalTM, the private capital management business for Cole Real Estate Investments, Inc., today announced the launch of Cole Office & Industrial REIT (CCIT II), Inc. (CCIT II), focused on net lease office and industrial assets. CCIT II intends to invest primarily in single-tenant, income-producing, “necessity” office and industrial properties, which are leased to creditworthy…

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Chanen Construction Names Steve Betts President

Chanen Construction Company announced today that Steve Betts, former president and CEO of SunCor Development Company, is joining the senior leadership team as president.  He will be responsible for leading new business development in Arizona and across the U.S.  Founder Herman Chanen continues in his role as chairman of the 58-year-old construction company and Steven…

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CBRE Completes Sale of Galleria Corporate Centre in Scottsdale for $68.6 Million

CBRE has negotiated the $68.6 million sale of Galleria Corporate Centre, a 537,110 square-foot, Class-A, mixed-use office and retail project, located at 4301 and 4343 N. Scottsdale Rd. in Scottsdale, Ariz.  Jim Fijan and Will Mast with CBRE’s Phoenix office represented New York City-based JEMB Realty Corporation, who sold the building to a joint venture…

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Colliers International Completes Scottsdale Luxury Apartment Complex Sale for $57.75 Million

The Colliers International in Greater Phoenix Southwest Multifamily Advisors’ team recently completed the sale of The Paragon at Kierland, a 276-unit, Class A luxury apartment complex located on the Westin Kierland Golf Course, for $57.75 million or $209,239 a unit/$200 a square foot.  The transaction is the highest per unit sale to date in 2013…

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Colliers Negotiates $9.1 Million Apartment Sale in Glendale

Colliers International in Greater Phoenix negotiated the sale of the 260-unit Northern Terrace Apartments, located at 5220 W. Northern Ave. in Glendale, Ariz., for $9.1 million, or $35,000 per unit. Scottsdale-based Sonoma Terrace Properties LLC, a partnership between Jay Chernikoff and Cal DeSouza, acquired Northern Terrace Apartments with a loan from Mutual of Omaha Bank.…

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DAUM Completes 83,200 Sq. Ft. Lease in Fairmont Commerce Center

DAUM Commercial Real Estate Services announced that it represented the tenant, MXD Group, in the leasing of the Fairmont Commerce Center, an 83,200 sq. ft. building located at 440-444 W. Fairmont Drive in Tempe. Steve McKendry, Kirk Jenkins and Trevor McKendry of DAUM’s Phoenix office exclusively represented MXD Group in the transaction.  MXD Group specializes…

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Cassidy Turley Completes $5.039 Million Sale of Roosevelt Tech Center

Cassidy Turley announced they successfully sold Roosevelt Tech Center, a ± 60,458-square-foot mixed-use property at 528 West 21st Street in Tempe. Enright Roosevelt Tech, LP. (Calgary, Alberta) purchased the property for $5,039,162 ($83.35/psf) from RBI Industrial Properties I, LLC (Irvine, CA). Senior Managing Directors Paul Boyle and Rick Danis with Cassidy Turley’s Industrial Group negotiated…

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Colliers International Completes 92,200 SF Office Building Sale in Phoenix for $12 Million

Colliers International in Greater Phoenix recently negotiated the sale of a 92,233 square-foot Class B office building located at 3333 E. Camelback Road in Phoenix for $12 million, or $130/square foot. Fenway Properties of San Diego acquired the property. Fenway plans to upgrade the common areas and develop new, spec suites to accommodate tenants of…

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