Luxury Silicon Desert Multifamily Asset Sold by IPA for $41.5 Million

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Vive, 194-unit luxury apartment community in Chandler, Ariz. The $41.5 million sales price equates to $214,000 per unit. “Vive is an ultra-luxurious, Class ‘AA’ apartment community with sophisticated,…

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SkySong Inks MindBody To Large Space in New Office Building

SkySong, The ASU Scottsdale Innovation Center is getting another new innovative tenant — one that will take up a big chunk of the newest office building at the project. MindBody, a leading provider of cloud-based business management software for the wellness services industry, signed a long-term lease to occupy 28,229 square feet of SkySong 4, which is now almost 50 percent leased…

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PORTFOLIO OF FIVE FLORIDA SCHOOLS SELLS FOR $71.48 MILLION

A portfolio of five charter school properties in Florida has been sold for $71,480,000.  The transaction is one of the country’s largest educational-based property deals, striking a new level of prominence for this category of commercial real estate.   “This marks a watershed moment in the educational asset sector,” says Todd Noel, Executive Vice President…

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Breakthru Beverage Facility in West Phoenix Sells for $33.5 Million

Colliers International in Greater Phoenix has negotiated the $33,550,000 sale of a 452,271-square-foot industrial facility in West Phoenix occupied by Breakthru Beverage Group. The sale represents one of the highest prices paid per square foot in the market, reflecting the strong dynamics of the West Phoenix industrial submarket.   “The West Phoenix submarket is experiencing…

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NAI Horizon negotiates Ahwatukee land sale for self-storage facility

NAI Horizon Senior Vice President Denise Nuñez represented the buyer in a $580,000 land sale for the construction of a 104,000-square-foot self-storage facility at Desert Foothills Parkway and Marketplace Way in Ahwatukee. Nuñez, with NAI Horizon’s National Self Storage Investment Group, represented Arizona-based 1784 Capital Holdings LLC. “We chose this site for its rare opportunity…

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INSIGHT GLOBAL SIGNS LEASE AT 24TH AT CAMELBACK II

Hines, the international real estate firm, announced today that Insight Global, an Atlanta-based national staffing services company, has signed a long-term 12,460-square-foot lease at 24th at Camelback II in Phoenix. Insight Global will occupy the eighth floor of the 11th-story Class A building, which offers abundant glass exposure and mountain views, beginning in early 2017.…

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NAI Horizon negotiates long-term lease for Planet Fitness in Gilbert

NAI Horizon negotiated a long-term lease for a Planet Fitness at Warner Greenfield Square, 858 S. Greenfield, Rd., in Gilbert, Ariz. The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega, and Retail Specialist Patrick Anthon represented JEG-FIT Greenfield & Warner LLC of Philadelphia in…

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Tempe Biotech Campus Marketing Assignment Awarded to Cushman & Wakefield

The Boyer Company, in partnership with SmithGroupJJR and Okland Construction, has awarded Cushman & Wakefield the marketing and leasing assignment for TCA Technology Park, a planned 18-acre biomedical and technology campus in Tempe, Ariz. Cushman & Wakefield Directors Mark Stratz and Scott Baumgarten have the lease assignment for Tempe’s first biomedical and technology campus. “The…

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Lincoln Property Co. Honored for Luhrs City Center with 2016 TOBY Award

Lincoln Property Company (LPC) continued its award-winning property management track record at this year’s “The Outstanding Building of the Year” (TOBY), earning a TOBY for its management of Luhrs City Center in downtown Phoenix.   Phoenix’s annual TOBY awards are presented by the Arizona chapter of the Building Owners and Managers Association (BOMA). They represent the industry’s…

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EverWest Sells Great American Tower to DPC Companies for $49M

EverWest Real Estate Partners and American Realty Advisors have completed the $49 million disposition of the Great American Tower, a landmark high-rise office building at 3200 N. Central Ave., in the heart of Phoenix’s Midtown office submarket. Great American Tower, acquired in 2007, has been recapitalized and improved with a series of upgrades that, among other things, have…

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Parallel Capital Partners Acquires Class A Scottsdale Office Complex for $20 Million

Adding to its growing Arizona portfolio, San Diego-based Parallel Capital Partners announced today it has acquired Kierland Corporate Center – a Class A office complex at 7033 E. Greenway Parkway in the Scottsdale neighborhood of Phoenix – for $20 million. Cushman and Wakefield represented the seller and John Bonnell and Brett Abramson of JLL represented…

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