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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Silverleaf Realty Closes Home for Record Price in Silverleaf – $11.110 Million

The drive into Silverleaf’s Upper Canyon signals to visitors that you are entering a special place.   Once through the private entry gate and up the long winding driveway, a spectacular Mediterranean style home sits on two lots overlooking Scottsdale and the McDowell Sonoran Preserve.   This 12,800-square-foot home, built in 2004, sold this week for $11,110,000,…

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