Fully Occupied Multifamily Complex Trades in Off Market Transaction

Country Club Greens Apartment Homes, totaling 68 units, closed yesterday for $6,025,000 ($88,603/unit). The building was fully occupied at close of escrow. Christopher Roach, Matthew Roach, and Joseph Dietz of ORION Investment Real Estate negotiated the off market transaction. “The buyers are a father and son team out of Vancouver, Canada. They plan to hold…

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LGE Design Build Completes 60,000 SF Utility Trailer AZ Headquarters

LGE Design Build recently completed Utility Trailer’s 60,000-square-foot Arizona headquarters at the Rados Tolleson Center. Utility Trailer and its 50 employees outgrew their previous facility in Phoenix, near 22nd Avenue and McDowell Road, where the family-owned business has been located since 1953. The company’s new Arizona headquarters, located on 14 acres at 83rd Avenue and…

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Balfour Beatty Construction Selected by Mainstreet to Build New Transitional Care Properties

Mainstreet, the nation’s largest developer of post-acute health care properties, has selected Balfour Beatty Construction to build two new transitional care properties located in Tucson and Chandler, Ariz. With a total project value of $24 million, the properties will provide post-acute care, short-stay rehabilitation and therapy for patients in a service-rich environment. Each of the…

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DMB Selects Cushman & Wakefield to Market One Scottsdale

DMB, in partnership with Macerich, has awarded Cushman & Wakefield the marketing assignment for the nearly 14-acre, mixed-use commercial core of One Scottsdale in Scottsdale, Ariz. Cushman & Wakefield Land Division Executive Managing Director Brent Moser, Senior Vice President Michael Sutton, Associate Brooks Griffith and Retail Division Vice President Brent Mallonee have the sale assignment…

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Online Video Pioneer Brightcove Relocating to SkySong

SkySong, The ASU Scottsdale Innovation Center, will welcome a prominent new tenant to its newest office building. Brightcove, a pioneering force in the world of online video, signed a lease to occupy 13,000 square feet of the first floor of SkySong 4. The company, relocating from Tempe, has nearly 5,000 customers in 70 countries is a leading provider of cloud services for video. It company offers…

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Metro Phoenix Multifamily Rents Rise as Vacancy Drops

Colliers International in Greater Phoenix released its third quarter 2016 Multifamily Statistics, which report that market conditions strengthened in the past three months, decreasing vacancy and pushing rents higher.  This decrease in vacancy occurred during a period when developers brought new units to the market, showing how strong demand is in this Southwest city.  The…

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GILA RIVER INDIAN COMMUNITY AND GOV. STEPHEN LEWIS EXPRESS DISAPPOINTMENT AT FEDERAL JUDGE’S LATEST RULING ON SOUTH MOUNTAIN FREEWAY LAWSUIT APPEAL

The Gila River Indian Community and Gov. Stephen R. Lewis have expressed their deep disappointment at a ruling late last week by U.S. District Judge Diane Humetewa, who rejected the Community’s request for an injunction temporarily halting construction of an extension of the South Mountain/Loop 202 Freeway.   The nearly $2 billion construction project would…

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NAIOP AZ SELECTS 16 YOUNG PROFESSIONALS FOR 2016-2017 DEVELOPING LEADERS MENTOR PROGRAM PROTÉGÉ CLASS

The 2016-2017 NAIOP Arizona Developing Leaders Mentor Program protégés have been announced, and the 16 young professionals come from all corners of the Valley’s commercial real estate industry. Each protégé was selected to participate in the year-long program in which they will attend educational seminars and complete a full scale development project by the end…

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CBRE Completes $7.33 Million Sale of Industrial Property

CBRE has completed the sale of a 97,500 sq. ft. industrial property located at 440 North 51st Avenue in Phoenix, AZ. Bill Bayless with CBRE’s Phoenix office represented the buyer, Dolphin Manufacturing. The seller, Kalyx, was represented by Steve Sayre with JLL. The total consideration for the transaction was $7.33 million. “Dolphin Manufacturing’s current facility…

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