JLL to Lease New 250,000 SF Phoenix Industrial Project: Riverside 43

The Phoenix office of JLL has been awarded the leasing assignment for Riverside 43, a 250,043-square-foot, fully speculative Class A industrial project that broke ground this week by Scottsdale-based Merit Partners, Inc. The project is one of the last parcels in the Riverside Tax District in Phoenix’s West Valley submarket. Located at 2200 S. 43rd Ave. in Phoenix, Riverside 43…

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Liberty Property Trust Brings 1930 West Rio Salado Parkway to 100% Occupancy Before Construction is Finished

Liberty Property Trust today announced that it has executed two new leases, filling its nearly complete 135,663 square foot speculative office building at 1930 West Rio Salado Parkway in Tempe. DriveTime Automotive Group, an existing tenant in 1720 West Rio Salado Parkway at Liberty Center at Rio Salado, will expand into 65,889 square feet of…

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HOLIDAY INN EXPRESS & SUITES PHOENIX AT TEMPE-UNIVERSITY SELLS TO PRIVATE HOTEL INVESTMENT GROUP

CBRE Hotels announces the sale of the Holiday Inn Express & Suites Phoenix-Tempe-University, a 72-room, limited-service hotel located at 1031 East Apache Boulevard in Tempe, Arizona. The hotel features modern design accents and is within proximity to Arizona State University and the popular Mill Avenue District. Eric Guerrero, Michael Yu, Rahul Bijlani and Pravin Boteju…

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West Phoenix Apartments Sold for $6.8M to California Investor

Veranda apartments at 6015 W. Olive Ave in Glendale have been sold to a California investor for $6,816,000.  This marks the new owner’s first Arizona investment and he plans to substantially modernize the popular community. “This investor recognized Veranda’s opportunity for appreciation in the rapidly-improving Maryvale submarket,” says Trevor Koskovich, executive vice president with Colliers…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 14,490-SQUARE FOOT NET-LEASED PROPERTY MARICOPA, AZ

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Walgreens (Dark), a 14,490-square foot net-leased property located in Maricopa, Ariz., according to Donald D. Morrow, regional manager of the firm’s Phoenix office. The asset sold for $7,000,000.  …

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McCarthy Building Companies breaks ground on Biodesign C Research Building at ASU

McCarthy Building Companies recently broke ground on the new $120 million Biodesign C Research Building, the third building in ASU’s Biodesign Institute complex at Arizona State University (ASU). The new research facility will include five stories plus a basement and will be located on ASU’s main campus in Tempe, Ariz., adjacent to the ASU Biodesign…

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NorthMarq Capital arranges $52M in loans for a 22 property portfolio in Phoenix Metro

James DuMars, managing director/senior vice president of NorthMarq Capital’s Phoenix-based regional office, arranged $52 million (the aggregate of all individual loans) on the refinance of the 19 shopping centers and 3 commercial properties located throughout the Phoenix Metropolitan Area.   The financing of the portfolio was structured amongst three institutional lenders.   “These assets are extremely…

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Las Vegas-based Developer Acquires Camelback Corridor Property for $17.475M

A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of  Las Vegas-based developer LaPour Partners, Inc. and Holualoa Companies, headquartered…

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