Former Castle Hot Springs Resort and 118° Natural Hot Spring To Be Sold At Auction

Douglas Johnson, Managing Director, CBRE Auction Services, announced today that the historic Castle Hot Springs near Phoenix, Ariz. will be sold at auction. Opened in 1896, the ±210-acre Castle Hot Springs resort was considered one of the premier resorts in the United States, attracting prominent families such as the Roosevelts, Vanderbilts, Wrigleys, and Astors. The…

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Marcus & Millichap Arranges The Sale of a 10-Unit Apartment Building

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Holiday Resort Apartments a 10-unit apartment building for $500,000. The property is located in the Camelback Corridor and is in close proximity to the prestigious Biltmore area, offering convenient access to shopping, dining and other…

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Blandford Homes to Develop on Greenfield Road and McDowell Road

Cassidy Turley announced today that Phoenix-based Blandford Homes purchased ±19.3-acres in Mesa, west of the southwest corner of Greenfield Road and McDowell Road. Through its McDowell Citrus 100, LLC, Blandford Homes purchased the land for $3,200,000 from Horlacher Foundation, Inc. (Mesa, AZ). Brent Moser, Mike Sutton and Brooks Griffith with Cassidy Turley Arizona’s Land Group negotiated…

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Cassidy Turley Completes $1.925 Million Sale of Redrock Business Center

Cassidy Turley announced they successfully sold two office buildings of the Redrock Business Center equaling ±21,190-square-feet at 17100 East Shea Boulevard in Scottsdale. A2Z Properties (Scottsdale, AZ) purchased the property for $1,925,000 ($90.84/psf) from MJA Investments (Lincoln, NE). Executive Managing Director Eric Wichterman, and Senior Vice President Mike Coover with Cassidy Turley negotiated the transaction…

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Cassidy Turley Completes $7.14 Million Sale of Black Canyon Corporate Center

Cassidy Turley announced they successfully sold Black Canyon Corporate Center, a ±94,203-square-foot Class A office project at 10835 North 25th Avenue in Phoenix. Younan Properties Inc. (Woodland Hills, CA) purchased the property for $7,140,000 ($75.16/psf) from REO Asset Manager, John Mitchell, of LNR Partners (Miami Beach, FL), as special servicer. Executive Managing Director Eric Wichterman, Senior…

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Cushman & Wakefield Awarded Sale of Former Jabil Circuit Flex Building

Cushman & Wakefield of Arizona, Inc. has been awarded the sale of a former electronics manufacturing/warehouse flex building at 615 E. River Drive. The  193,000-square-foot property includes 176,000 square feet of  fully air-conditioned manufacturing and warehouse space and 17,000 square feet of office space. It sits on 16½ acres with direct frontage on the Loop…

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Cassidy Turley Completes 10,180 SF Lease at Raintree Corporate Center I

Cassidy Turley, a leading commercial real estate services provider in the U.S., announced that it completed a 10,180-square-foot lease for Keller Williams Arizona Realty at Raintree Corporate Center, 15333 North Pima Road. Executive Managing Director Jeffery Wentworth and Vice President Sean Spellman, with Cassidy Turley’s Office Group, represented the landlord, CW Capital Asset Management LLC…

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CBRE Negotiates $22.825 Million Sale of Northgate Corporate

CBRE has negotiated the sale of Northgate Corporate Centre located at 2625 W. Grandview Rd. in Phoenix, Ariz. The ±131,850-square-foot, single tenant class A office building commanded a sale price of $22.825 million. Jim Fijan and Will Mast with CBRE’s Phoenix office negotiated the transaction. The seller was Najafi Companies, an international private investment firm…

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Real Estate Capital Advisory Firm Expands Practice with Metro Phoenix Industry Veteran

Land Advisors Capital, a Scottsdale-based real estate capital advisory firm, proudly welcomes Jeff Carlson, bringing over 30 years of experience in real estate asset and loan portfolio management, investment and valuation.   Carlson brings a valuable combination of significant loan portfolio management and homebuilding expertise to the firm. As former Managing Partner for ParCap, Jeff…

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Lee & Associates Sells Tucson Whole Foods-Anchored Shopping Center for $24.8 Million

  River Center, a 117,563 SF Whole-Foods and Petco anchored shopping center at 555 E. River Rd. in Tucson, has sold for $24.775 million. The sale posted a cap rate of 5.5 percent. The January 9 closing was led by Lee & Associates Arizona principals Patrick Dempsey and Jan Fincham. The buyer was Global Retail Investors, LLC, a subsidiary of…

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David Kross to Oversee Project Management of Regional Development Efforts for Irgens Regional Development Team

Irgens is pleased to announce the addition of David Kross to the position of Development Director. Kross will apply his more than 15 years of experience in commercial real estate to help Irgens expand its development efforts in the greater Phoenix market and the southwest region. Kross will be responsible for overseeing all elements of…

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Plaza Companies’ Brokerage Services Team Ends Strong Year With $28 Million in New Leases for 2013

Plaza Companies’ Brokerage Services Team, which expanded dramatically in 2013, ended the year with strong leasing numbers that bode well for continued momentum in 2014.   The leasing activity included a total $28 million in new deals from 13 new and renewed leases comprising of almost 320,000 total square feet, as the commercial and medical office real estate market continued its recovery…

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