Oct. 23, 2013- The Cushman & Wakefield leasing team representing Chandler Business Center has completed six office leases at the property in 120 days. Chandler Business Center, located at 6150 W. Chandler Blvd., is a multi-tenant industrial/flex park owned by investment manager Clarion Partners, LLC. The six leases recently signed total 42,192 square feet, increasing…Details
American Realty Capital Properties and Cole Real Estate Investments Merge to Create World’s Largest Net Lease REIT
Oct. 23, 2013- American Realty Capital Properties, Inc. (“ARCP”) (NASDAQ: ARCP) and Cole Real Estate Investments, Inc. (“Cole”) (NYSE: COLE) announced today that they have signed a definitive agreement to merge the two companies (the “Merger Agreement”). The transaction is valued at $11.2 billion and will create the largest net lease REIT with an enterprise…Details
Commercial Properties Incorporated (CPI) proudly announces the sale of an 88,407 square foot industrial property located in Phoenix, Ariz. John Soldo and Leroy Breinholt of CPI’s Industrial Team represented the buyer, Chrisman Lock Chiang, in the recent purchase of 43 N. 48th Ave. in Phoenix, AZ. “Chrisman Lock Chiang is a tool and manufacturing owner/user from…Details
Growing custom jewelry firm, Origami Owl (origamiowl.com), has leased 147,486 square feet of space at 10 Chandler Business Park, located along the east side of Interstate 10 between Chandler Boulevard and Ray Road. Origami Owl leased all of Building 9 this past summer, totaling 81,238 square feet of distribution/warehouse and office space at 500 N.…Details
CBRE has announced that John Lenio, economist and managing director of CBRE’s Economic Incentives Group (EIG), has been chosen to speak at the Ohio Economic Development Association’s annual summit in Dublin, Ohio on October 25. Economic Development is a constant topic for government and business leaders; for Lenio, it’s his job. Lenio has been asked…Details
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