Arizona State Land Department Sells Trust Land to City of Scottsdale for $21.3 Million

Nov. 19, 2013-  The Arizona State Land Department auctioned 2,365 acres of State Trust land to the City of Scottsdale for $21.3 million. Scottsdale purchased the land, located south of the Bell Road alignment, between the 120th and 136th street alignments to add to its McDowell Sonoran Preserve.  “This is one of several significant auctions…

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Lincoln Property Company Earns Honors; Grows Management Portfolio to Highest Point in Office’s History

Nov. 19, 2013- The Desert West Region of Lincoln Property Company (LPC) this week pushed its management portfolio to the highest point in the office’s history with the assignment of 7025 North Scottsdale. Under the leadership of new Director of Management Services Alisa Timm, the firm also retained 100 percent of its nearly 6 million-square-foot…

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Lee & Associates Arizona Promotes Industrial Broker McDougall To Principal

Nov. 19, 2013– Lee & Associates Arizona is pleased to announce the promotion of Matt McDougall to Principal. Matt joined Lee as an Associate nearly three years ago and has garnered the respect of his peers as well as having achieved several sales benchmarks to achieve his promotion. Matt’s extensive knowledge of the Phoenix industrial market is complemented through analysis and…

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Colliers International Completes $6.53 Million Sale of Sonoma Place Apartments in Peoria

Nov. 18, 2013- Colliers International in Greater Phoenix recently completed the $6.53 million sale of the 100-unit Sonoma Place, located at 11600 N. 75th Ave. in Peoria, for $65,300 a unit, or $80.33 a square foot. Denver-based Investment Property Exchange Services acquired Sonoma Place from Mentor Properties of Scottsdale. Bill Hahn, Jeffrey Sherman and Trevor…

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Colliers International Expands Investment Services Platform

Nov. 15, 2013- Colliers International in Greater Phoenix has expanded its investment services platform with the addition of Steven Gonzalez, senior vice president of investments. Gonzalez is partnering with Marcus Muirhead, associate vice president; and Greg Guglielmino, senior associate, to form an investment team, specializing in the disposition of single- and multi-tenant office and medical…

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CBRE Multi-Housing Private Capital Group Negotiates $1.9 Million Sale of Lindsay Villas Apartments

CBRE has negotiated a multi-family sales transaction in Mesa, Ariz. Public Action Management Real Estate, LLC of Scottsdale, Arizona has purchased Lindsay Villas Apartments, a 32-unit multi-family property located at 2580 E. Baseline Rd in Mesa, Ariz., from Lindsay Villas, LLC of Los Angeles, California. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented the…

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CBRE Capital Markets Debt & Equity Finance Group Secures $33.8 Million Loan for Encantada at Riverside Crossing

Nov. 13, 2013- CBRE’s Capital Markets Debt & Equity Finance Group announced today the successful refinancing of the Encantada at Riverside Crossing, one of the highest-quality, state-of-the-art class A apartment communities in Tucson, Ariz. The $33,800,000 loan was funded through international insurance company AIG, Inc.  The financing of Encantada at Riverside Crossing was originated by…

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Buchanan Street Partners Purchases Phoenix, Ariz. Portfolio for $52.6 Million

Nov. 12, 2013-  Buchanan Street Partners, an active buyer of value-add office and industrial real estate, has purchased a 446,000-square-foot portfolio from Carlson Real Estate Company for $52.6 million, or $118 per square-foot. The 10-building portfolio was acquired in four separate sale transactions and includes a mix of office, industrial, office flex and retail properties.…

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Sperry Van Ness Represents the Buyer in the $2.3 Million Sale of Palmera Apartments

Neil Sherman and Carrick Sears, multifamily specialists in the Phoenix office of Sperry Van Ness, represented the buyer, Summit Holdings, LLC, in the sale of Palmera Apartments. The 64-unit multifamily complex is located at 6625 North 17th Avenue in Phoenix, Ariz. and sold for $2.305 million or $46.44 per square foot. Palmera Apartments is currently…

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