Hospital-Adjacent Medical Campus Trades in Glendale

The transaction included a 47,254 square feet controlling interest of prime medical office space within Thunderbird Palms Medical Campus. Five of the eight buildings comprising the Campus sold for $10,850,000 ($229.61 PSF). The Thunderbird Palms offering represented a rare opportunity to acquire modern, net leased, hospital adjacent, medical office buildings, on fee ground with no…

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PASSCO COMPANIES ACQUIRES CLASS A LUXURY MULTIFAMILY COMMUNITY IN PHOENIX METRO FOR APPROX. $80M

Passco Companies, LLC has acquired Almeria at Ocotillo, a 389-unit, Class A luxury multifamily community located within the Ocotillo Master Planned Community, an upscale master planned community in the dynamic Phoenix submarket of Chandler, Ariz., for approximately $80 million. “Chandler is one of the most desirable submarkets in the Phoenix metro,” says Gary Goodman, Senior…

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Getting the Wheels Turning: Is Arizona Poised to be a Logistics Hub?

Valley Partnership has announced the topic for the August 26 breakfast. This month’s panel will discuss Arizona’s future as a hub for manufacturing and logistics and what business and economic development leaders are doing to ensure viability in these industries going forward. The logistics and manufacturing panel will feature Nicholaus Fischer, Merit Partners; Mark Lashinske,…

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San Francisco Tech Company Zenreach Signs Lease at Biltmore Center

Zenreach, a San Francisco-based technology company, will open its first major office outside of its headquarters at Biltmore Center, 2390 E. Camelback Rd.  The company plans to employ approximately 350 people at the Camelback Corridor office. “This makes a major win for Phoenix and the Biltmore Center property,” says Ryan Timpani, Vice President with Colliers…

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Allred Wins Final Approval From Chandler City Council To Start Construction On Massive New Valley Office Complex

On Thursday evening, the Chandler City Council unanimously gave the final approval for the Douglas Allred Company’s development project in the Price Road Corridor, Park Place II. The Chandler City Council approved of the final rezoning for the 928,000 square foot employment business park campus, which will create nearly 10,000 jobs. With the receipt of…

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Kitchell promotes four veterans to vice president

Kitchell has promoted four of its executives to vice president, reflecting the company’s geographic and services expansion. Bryan Bernardo, David Burton, Russ Korcuska and Michael Wolfe have all been named vice presidents overseeing various areas of Kitchell’s contracting business. Vice President of Operations Bryan Bernardo, previously regional and national operations manager, oversees the management of…

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CHURCHILL COMMERCIAL CAPITAL ARRANGES DEBT FOR TWO MEDICAL OFFICE BUILDINGS

Churchill Commercial Capital, Inc. has arranged $10.15 million in two separate loans on two medical office buildings, both located in Metro Phoenix. A $3,000,000 loan was closed on Thunderbird Professional Centre, located in Peoria, AZ.  The 10 year, fixed rate, non-recourse loan was provided by a life company for an experienced sponsor with whom Churchill…

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NorthMarq Capital’s LA office arranges $6.13M non-recourse bridge loan for Phoenix industrial building

Joe Giordani, vice president of NorthMarq Capital’s Los Angeles-based regional office, arranged a non-recourse bridge loan totaling $6.13 million for a 109,000 sq. ft. industrial flex property located in Phoenix, Arizona. The transaction was structured with a 3-year interest-only term. The floating rate, interest-only transaction featured a 75 percent loan to cost and allowed for…

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METROPOLITAN MIAMI FURTHERS ITS CULINARY COLLECTION WITH THE ADDITION OF RED O TO MET SQUARE

MDM Development LLC announced today that it has signed a lease with Red O, a world-class-relaxed  destination resort environment  that provides distinctive Latin-Mexican inspired exquisite cuisine and discerning service in a lively, sophisticated setting. The first Red O location outside of its California home, the highly acclaimed restaurant will be located on the ground floor…

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JLL Completes Three Leases for Black Rock Coffee Bar’s Arizona Market Entry

On behalf of Black Rock Coffee Bar, the Phoenix office of JLL has completed three leases as part of the company’s Arizona market entry. Black Rock’s first three Arizona coffee shops will be located in Chandler and Mesa, in the eastern portion of metro Phoenix. Each will offer specialty coffee beverages and breakfast and lunch options, delivered in…

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