Wentworth Storage Company Acquires 1.63-Acres in Phoenix

Glendale Avenue Self-Storage, LLC (Wentworth Storage Company, LLC) has purchased 1.63-acres west of the northwest corner of 19th Avenue and Glendale Avenue for $770,000.00. The Arizona-based development and acquisition company plans to develop a 100,000-square-foot self-storage facility on the property that is zoned C3. The seller was NRDP AZ III, LLC (Rick Sodja). “This property…

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Lee & Associates, RSP Architects, Wespac Tapped to Reposition Renaissance Square

Owners of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Ave., have engaged Lee & Associates, RSP Architects and Wespac Construction to completely re-imagine the nearly one million square foot Class A property. The ownership group, a joint-venture between funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cypress Offi…

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Roosevelt, Washington, Jefferson, and Jackson: Historic Downtown Streets setting New Urban Trends

You read the title and think what amazing history took place under the influences of these politicians.  Not so fast because these historic names are simply the street names in downtown Phoenix that are becoming the latest commercial real estate hot spots.  The population downtown continues to grow and the path is currently being paved…

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McShane Construction Completes Two-Building Speculative Industrial Development in Phoenix

Milt Elmer, Vice President of McShane Construction Company’s Southwest Region, is pleased to announce the construction delivery of Desert Gateway – a two-building light industrial development for a joint venture between Griffin Opportunities LLC, Adam Norvell and Walter Cale. Located within the growing Deer Valley submarket in Northwest Phoenix, Arizona, Desert Gateway is prominently positioned…

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Sun State Builders Announces the Completion of the Award Winning Vinyl Visions Office and Manufacturing Facility in Prescott

VINYL VISIONS and SUN STATE BUILDERS are proud to announce the completion of Vinyl Vision’s Prescott Arizona Office and Manufacturing facility. This project is the winner of multiple awards including the city of Prescott’s “Deal of the Year” and an Award of Merit from the Arizona Association for Economic Development (AAED), recognizing excellence, innovation, and…

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CONSTRUCTION FIRMS GETTING SQUEEZED BY INCREASING MATERIALS & LABOR COSTS AND SLOWER INCREASES IN WHAT THEY CHARGE TO BUILD PROJECTS

The cost of materials used in construction rose markedly faster than the price of completed buildings, according to a new analysis of federal producer price data released today by the Associated General Contractors of America. Association officials cautioned that potential restrictions on the use of imported construction materials threaten to drive up the price of…

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Structured Finance Expert Randy Pereira Joins Colliers International

Randy Pereira has joined Colliers International in Greater Phoenix as a senior vice president, where he will serve as a lead financial advisor to clients on financial strategies.   “Randy joins us with impressive expertise in advising domestic and international corporate occupier clients on matters of portfolio strategies, structured finance alternatives, transaction accounting, tax and…

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NAIOP ARIZONA RUNS NATIONAL-AWARD WINNING STREAK TO 12 YEARS AT ANNUAL MERIT GALA IN WASHINGTON, D.C.

NAIOP Arizona ran its winning streak of bringing home national awards to 12 years, earning large-chapter honors for both its Legislative and Communications initiatives. NAIOP Arizona was honored recently at the annual Merit Awards gala held during the 2017 NAIOP Chapter Leadership & Legislative Retreat at the Capital Hilton in Washington, D.C. Last year NAIOP…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 2,185-SQUARE FOOT NET-LEASED PROPERTY

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Bahama Buck’s – 20 Yr. Ground Lease, a 2,185-square foot net-leased property located in Laveen, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for…

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Daum Negotiates 41,300-square-foot ABUS USA Lease for Office/Warehouse Operations in Phoenix

Daum Commercial Real Estate Services has negotiated the lease of a 41,300-square-foot office/warehouse facility located at 23910 N. 19th Avenue in Phoenix. Chris Rogers, Trevor McKendry and Jerry Hillery of Daum Phoenix, represented the lessee, ABUS USA LLC with headquarters in Wetter, Germany. ABUS provides a range of innovative solutions for home security, safety lockout,…

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