Marcus & Millichap Arranges the Sale of 3,280-Square Foot Net-Leased Property

Nov. 25, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Arby’s, a 3,280- square foot net-leased property located in Gilbert, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1.9 million. Jamie Medress and…

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Tempe: The Land of Plenty

Planning and cooperation has the city in the middle of a multi-use Renaissance With several major multi-use projects currently in development, the City of Tempe is in the midst of a commercial real estate boom. While it would be easy to heap all the praise for this market resurgence—and the jobs it has brought with it— on Tempe Mayor…

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Commercial Executive Magazine’s 2013 Broker of the Year: Barry Gabel

Nov. 27, 2013- The distinction of CEM Broker of the Year is especially satisfying to Gabel because it represents a vote of his peers and undoubtedly reflects the fundamental tenets of how he conducts business: “Work hard, persevere, be honest, be yourself, do what’s right, treat people with respect and dignity, and great things will happen!” ||  When asked about the source…

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Commercial Properties Reports on Top 5 Transactions

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, reported its top five October transactions. In total the firm completed 137 transactions in October for a total of 1,318,832 square feet. Leading the Lease Transactions Category, Tenant Representative Ken Elmer brokered an agreement with Arizona Urgent Care, LLC, for 5 spaces in Gilbert,…

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Universal Health Services Inc. to Open Psychiatric Hospital Near I-17

Nov. 26, 2013- Colliers International in Greater Phoenix recently completed the sale of Quail Run, a 67,324-square-foot, Class A medical office building for $7.4 million, or $110 a square foot. UHS of Phoenix LLC, a subsidiary of Universal Health Services Inc. of Pennsylvania, purchased the four-story building to open a psychiatric hospital. A Fortune 500…

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Cole Corporate Income Trust, Inc. Acquires More Than $202 Million of Net Lease Office Properties

Nov. 25, 2013- Cole CapitalTM, the private capital management business of Cole Real Estate Investments, Inc., announced the acquisition of five single-tenant corporate properties by Cole Corporate Income Trust, Inc. (CCIT). The combined price of the acquisitions was approximately $202.1 million and included facilities in San Jose, Colorado Springs, St. Louis and Houston. “These latest…

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CBRE Multi-Housing Private Capital Group Negotiates Sale of Melrose Place

South Latitude Capital LLLP of Vancouver, British Columbia, Canada has purchased Melrose Place, a 13-unit multifamily property located at 3110 N. 40th St. in Phoenix. The seller was La Jolla, Calif.-based JMRS Melrose LLC. Brian Smuckler and Jeff Seaman of CBRE’s Multi-Housing Private Capital Group in Phoenix office represented the seller in negotiating the $750,000…

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Marcus & Millichap Arranges the Sale of a 98-Unit Apartment Building

Nov. 22, 2013- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Albany Apartments  a 98-unit property located at 5801 East Albany Street in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset was sold for $4,100,000 by…

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Cassidy Turley Completes $2.975 Million Sale of Warehouse Building

Cassidy Turley, a leading commercial real estate provider in the U.S., announced that it completed the sale of a ±30,240-square-foot industrial warehouse building at 5010 South 48th Street in Phoenix. Northcom 44, LLC (Logan, UT) purchased the property for $2,975,000 ($98.37 psf) from Sandy Point Partners, L.P. (El Paso, TX). Cassidy Turley Arizona’s Michael Haenel…

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Cassidy Turley Completes $12.1 Million Sale of Sky Harbor Towers

Nov. 21, 2013- Cassidy Turley, a leading commercial real estate provider in the U.S., announced they successfully sold Sky Harbor Towers, a ±273,623-square-foot class A office project at 4605, 4615, 4635 East Elwood Street in Phoenix. Orsett Properties, Ltd (Phoenix, AZ), purchased the property for $12,100,000.00 ($42.66/psf) from REO Asset Manager, John Mitchell, of LNR…

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DSW Designer Shoe Warehouse Signs 20,000-Square-Foot Lease at Tempe Marketplace

Nov. 20, 2013 – CBRE has negotiated a 20,000-square-foot lease at Tempe Marketplace in Tempe, Ariz on behalf of DSW Designer Shoe Warehouse. Todd Folger with CBRE’s Phoenix office negotiated on behalf of DSW. David Malin, director of acquisitions and development for Vestar, Inc. represented Tempe Marketplace. “This transaction continues to show the overall improvement…

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Infill Residential Opportunities Attract Out-of-State Builder/Investor

Nov. 20, 2013- The recovering Phoenix homebuilding market has flexed its muscle once again, prompting a new joint venture that links local real estate development veterans Steven Pritulsky and Paul Timm, and their company New Leaf Communities, with long-time Southern California-based builder Watt Communities. The venture, Watt Communities of Arizona, has closed on two infill…

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