Mutual of Omaha Bank Purchases Tempe Building for National Client Services Center

Mutual of Omaha Bank has purchased a 73,377 square foot, three-story office building in Tempe, Ariz., that will house its national client services center and several business groups, the company announced. Located in the Cotton Corporate Center at 4950 S. 48th St., the class A building will serve as Mutual of Omaha Bank’s national client services center, including its customer…

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Marcus & Millichap arranges sale of 800 SF net-leased property

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Starbucks, a 800-square foot net-leased property located in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,415,000. Mark Ruble and Jamie Medress, investment specialists in Marcus…

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Cassidy Turley Represents Buyer in $12.7M Purchase of Scottsdale Apartments

Cassidy Turley represented Portofino at McCormick, LLC in the purchase of Monaco North, a 112 unit multifamily property located in Scottsdale at 8250 North Via Paseo Del Norte. The Michigan based investor purchased the property for $12,700,000 / $113,393 per unit / $134 per square foot. Executive Vice Presidents David Fogler and Steven Nicoluzakis with Cassidy…

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Hines, PCCP Venture Acquires Kierland One in Phoenix

Hines, the international real estate firm, announced today that along with joint venture equity partner PCCP, LLC, it has acquired Kierland One, a Class A, 175,441-square-foot office building located in the North Scottsdale Airpark submarket of Phoenix.   Completed in 1999, the four-story building is located at 16430 N. Scottsdale Road across from the Promenade Shops,…

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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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GoBankingRates.com Study Finds CD Rates in Phoenix Fall Behind State Average

Before the recession, Phoenix depositors could easily yield 6 percent interest annually from a certificate of deposit, while today’s depositors are lucky to earn more than 0.18 percent on a short-term CD. By reviewing GoBankingRates.com’s latest comparison of CD interest rates on the city, state and national level, local account holders can identify the CD…

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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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