CBRE Completes Sale of Kierland One in Scottsdale

CBRE has completed the sale of Kierland One, a 175,441-square-foot, Class A office building located in the prestigious Scottsdale Airpark Submarket. Barry Gabel, Mindy Korth and Chris Marchildon of CBRE’s Phoenix office represented the seller, Cornerstone Real Estate Advisers LLC, acting on behalf of an institutional investor.  The buyer, Hines, the international real estate firm,…

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Cassidy Turley Represent Buyer in $7.5 Million Purchase of Baseline Interstate

Cassidy Turley represented Dalfen America Corp. (dba Mazal TOV Realty, LPL) in the purchase of Baseline Interstate, a ±136,683-square-foot industrial warehouse/office property at 4707 E. Baseline Rd. in Phoenix. The investment company located in Westmount, Quebec, Canada purchased the property for $7,500,000 ($55.02psf) from Holualoa Companies (dba 4707 Baseline Phoenix) of Tucson. Executive Vice President’s…

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Cassidy Turley Represents The Weitz Company Arizona in Lease

Cassidy Turley negotiated a 10,500-square-foot lease on behalf of The Weitz Company Arizona at Park One, 2111 E. Highland Ave. in Phoenix. Justin Himelstein and Jason France with Cassidy Turley’s Office Tenant Representation Group negotiated the transaction on behalf of Weitz. Brett Abramson with JLL represented the landlord McCarthy-Cook of Costa Mesa, CA.Himelstein and France…

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NorthMarq Arranges $2.5M Mortgage for Airpark Home Center in Scottsdale

Shari Stults, vice president of NorthMarq’s Phoenix regional office, arranged first mortgage refinancing of $2.5 million for Airpark Home Center located at 8355 East Butherus Drive in Scottsdale, Arizona.  This asset is a multi-tenant industrial flex building with approximately 50% of showroom/office space and 50% warehouse space.  The major tenant at the site is Hughes…

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Holualoa Companies Join SkySong Ownership Group; Partnership Purchases Stake in SkySong I and II

SkySong, The ASU Scottsdale Innovation Center has a new ownership structure after a transaction involving SkySong I and II, a 290,000 square foot, two-building office project located at Scottsdale Road and McDowell Road. A partnership formed by Holualoa Companies, the ASU Foundation for A New American University, and Plaza Companies has purchased the entirety of the ownership in a transaction that closed on…

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Mutual of Omaha Bank Purchases Tempe Building for National Client Services Center

Mutual of Omaha Bank has purchased a 73,377 square foot, three-story office building in Tempe, Ariz., that will house its national client services center and several business groups, the company announced. Located in the Cotton Corporate Center at 4950 S. 48th St., the class A building will serve as Mutual of Omaha Bank’s national client services center, including its customer…

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Marcus & Millichap arranges sale of 800 SF net-leased property

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Starbucks, a 800-square foot net-leased property located in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,415,000. Mark Ruble and Jamie Medress, investment specialists in Marcus…

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Cassidy Turley Represents Buyer in $12.7M Purchase of Scottsdale Apartments

Cassidy Turley represented Portofino at McCormick, LLC in the purchase of Monaco North, a 112 unit multifamily property located in Scottsdale at 8250 North Via Paseo Del Norte. The Michigan based investor purchased the property for $12,700,000 / $113,393 per unit / $134 per square foot. Executive Vice Presidents David Fogler and Steven Nicoluzakis with Cassidy…

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Velocity Retail Group and Ross Brown Partners Sell Downtown Scottsdale Parcel to La-Z-Boy Furniture Galleries

EBCO, Inc., the operating company for Arizona’s La-Z-Boy Furniture Galleries purchased a .64 acre parcel at 6828 E. Camelback Road in Scottsdale, Arizona.  The parcel currently has a 10,096 square foot office building; however, plans are to replace most of the building with a new concept La-Z-Boy store.  T.D. Note, LLC, the Seller, was represented…

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