CBRE Completes Sale of Palm Valley Pavilions East in Goodyear, Ariz.

CBRE has completed the sale of Palm Valley Pavilions East in Goodyear, Ariz. The 35,199-square-foot retail center commanded a sale price of $4.8 million. Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office represented the seller, MEI Properties LLC of Buena Park, Calif. The international buyer, Toronto, Ontario-based Claxton Real Estate LP 1,…

Details

Community Leader Brad Wright Partners to Create Specialized Development Firm

Local attorney, real estate executive and community leader Bradley Wright has joined Nations Group as a principal to form Nations Wright, LLC.  Nations Group was founded by Chris Nations as Nations Consulting Group in 2007.  The new real estate development company will continue to specialize in project management and owners representation across many market segments both in…

Details

Fall Forum Cover Story

Catching the Next Big Wave A vibrant and dynamic economy depends on a multitude of factors, none more important than specialization and division of labor. For Commercial Executive Magazine‘s fourth annual Fall Forum, we have assembled a panel of experts from across the real estate landscape to explicate Arizona’s “Next Big Wave” forward. These industry…

Details

Land Advisors Organization-Tucson Closes $22.8 Million Maracay Homes Purchase of Rancho Vistoso

The Tucson office of the Land Advisors Organization, the nation’s largest land brokerage firm, announced today the successful closing of ±122 acres at the Rancho Vistoso ‘Donut Hole’, located northeast of North La Cañada Drive and West Moore Road in Oro Valley, Arizona. The ‘Donut Hole’ property, so named because of the way the golf…

Details

Vestar Announces New Tenants

Vestar, a leading privately held real estate company in the western United States that acquires and manages retail and entertainment destinations that serve as community focal points, announces a vast amount of new retailers at many of its centers. Noteworthy achievements for Vestar include the signing of new tenants totaling more than 240,000 square feet…

Details

Wood Partners To Break Ground On $38 Million 218-Unit Luxury Apartment Building In Scottsdale

Wood Partners will break ground in December on Alta Scottsdale, a $38 million luxury apartment complex with 218 units located one mile from downtown Scottsdale. Construction of the 190,000-square-foot apartment building, situated on 6.5 acres, should be complete by summer 2015. It will open for pre-leasing in November 2014, with rents about 30 percent lower…

Details

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…

Details

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.…

Details

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…

Details

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…

Details

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…

Details

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…

Details