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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CBRE FHA Lending Group Provides $9M in Non-Recourse Financing for Clarendon Park Apartments

CBRE Group, Inc., through its FHA Lending Group, (which operates as CBRE HMF, Inc.), announced today the successful refinancing of the Clarendon Park Apartments, a market-rate apartment project located in Phoenix. The loan was funded through CBRE’s FHA-insured permanent loan program providing a fixed rate, 35-year, fully-amortizing loan.  Clarendon Park Apartments is a 138-unit apartment…

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NorthMarq Arranged $8.94 Million Mortgage for The Vineyards Apartments in Glendale

James DuMars and John Kinser of NorthMarq’s Phoenix regional office, arranged first mortgage refinancing of $8.94 million for The Vineyards Apartments, a 300-unit, market-rate suburban multifamily property located in Glendale, Arizona.  Financing was based on a 7-year term and a 30-year amortization schedule.  NorthMarq arranged this financing for the borrower, Vineyard/Phoenix Investments, LLC, an Arizona…

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Construction Employment Gains Remain Spotty July

Construction employment continued its spotty improvement in July, as more states posted year-over-year gains but most states posted decreases compared with June, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said the steady improvement in employment in many states was welcome news, but cautioned that the…

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Construction Set To Begin on Third SkySong Office Building

Construction is set to begin on the third office building at SkySong, The ASU Scottsdale Innovation Center, continuing the momentum on one of the most successful commercial development projects in Arizona over the past few years.  With the first two office buildings at SkySong almost fully leased, work will begin on SkySong III on August 19, with a groundbreaking ceremony scheduled for late…

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ARA Announces $103M Sale of The Hub on Campus In Tempe

Apartment Realty Advisors National Student Housing Group (ARA Student Housing) in conjunction with ARA’s Arizona office announces the sale of Hub on Campus in Tempe, AZ. Built in 2013, Hub on Campus is a 19-story, 269-unit/637-bed newly developed core student housing property located adjacent to the Arizona State University. The asset consists of 410,416 gross square feet, including 241,097…

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Colliers International Names Scott D. German Vice President of Scottsdale Office

Colliers International Greater Phoenix has named Scott D. German vice president of office properties for its Scottsdale office. German is leasing and selling Scottsdale office buildings, and providing consultation on development and land acquisition for clients. During his 28 years in the Greater Phoenix commercial real estate industry, German has completed more than 2,000 lease…

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Lawrence Pobuda Joins Transwestern Phoenix Team

Lawrence (Larry) Pobuda has joined Transwestern’s Phoenix office, increasing its role in the leasing and sales of office buildings and providing in-depth expertise in development and investment. As Senior Vice President, Pobuda serves institutional, corporate and private owners, as well as corporate users. “It is exciting to make strategic expansions in our range of services…

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Transwestern Announces Four Lease Transactions

In a series of transactions that reflects the continuing recovery of the Phoenix office market, Transwestern brokered four long-term leases throughout the region, highlighted by a more than 52,000-square-foot renewal and expansion for Health Choice Arizona Inc. in Three Gateway, located at 410 North 44th St. in Phoenix. Health Choice Arizona, one of the state’s leading…

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