CBRE Completes Five Multifamily Transactions in Metro Phoenix

CBRE has completed the sale of five multifamily properties in the metropolitan Phoenix area totaling more than $10.8 million. The firm’s Multifamily Investment Properties’ Brian Smuckler and Jeff Seaman brokered the following transactions: Sol at Christown is a 24-unit community located at 1717 W. Missouri Avenue in Phoenix. The buyer was American Self-Storage Bakersfield, LLC…

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Former RoomStore Furniture Store in Scottsdale Sells for $8.25M

The former RoomStore furniture store at 15826 N. Scottsdale Rd., Scottsdale sold for $8,250,000 or $263.00 per SF. The company fi led bankruptcy in December 2015 and closed all Arizona stores, including this location. Tom Boyle, Principal with Lee & Associates, brokered the transaction. The buyer was Bridge Enterprises, LLC, Phoenix, while DJD Property Holdings,…

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Thurston Personal Training facility to open Million-Dollar facility in North Phoenix

SVN Advisors close another million dollar sale in North Phoenix.  Desert Commercial Advisors Paul Borgesen III has closed approximately $6,000,000 in sale transactions in less than 30 days.  That coupled with senior advisor Justin Horwitz who has closed $5.4 million in lease and sale transactions in the same 30-day period, some of which were deals…

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Commercial Real Estate: The Emergence of the New Metropolis

The rise of empirical retail development continues to emerge in the Arizona commercial markets. A distant memory of land-filled dirt, deserted streets, and minimal economy will now just be another page in the Arizona history books.  It will illustrate how developers, property owners, and commercial real estate brokers met the demands for demographically driven consumers…

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Florence Project honors ‘partner of year’ Lewis Roca Rothgerber Christie

The Florence Immigrant and Refugee Rights Project has named Lewis Roca Rothgerber Christie LLP as its Law Firm Partner of the Year in recognition of the firm’s long-standing pro bono support. The Florence Project also presented Lewis Roca Rothgerber Christie attorney Brian Kim with the Children’s Program Pro Bono of the Year award for persevering…

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Crossroads Apartments Sells for $25.2 Million

Cushman & Wakefield announced today the $25.2 million sale of Crossroads Apartments, a 316-unit apartment community located at 2222 West Beardsley Road in Phoenix, to Phoenix-based CS1031 Crossroads Apartments (Rincon Partners). Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, WW Crossroads Apartments LLC (Olympus Property)…

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COMMERCIAL PROPERTIES INC., IS PLEASED TO ANNOUNCE THE SALE OF A 50,274-SF RETAIL INVESTMENT PROPERTY IN MESA

Commercial Properties, Inc. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the investment sale of a former auto dealership in Mesa, AZ. The building is approximately 50,274 SF originally built in 1968 and has a showroom, a parts room and a large service area.  Located at 1600 W Main Street,…

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The Latest News on Mulberry Marketplace Anchored By Fry’s Marketplace Store

If Brown Group builds it, they will come. Scottsdale-based Brown Group (browngroupinc.com) has built 35 successful shopping centers, and they hit it out of the park with their latest project Mulberry Marketplace. Named for the nearby Mulberry residential development, Mulberry Marketplace commands 17.70 acres at the corner of Guadalupe and Signal Butte roads in Mesa,…

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CBRE Completes $29.5M Sale of Pheasant Run Apartments in Chandler

CBRE has completed the sale of Pheasant Run, a 248-unit multifamily community located at 2101 N. Evergreen Street in Chandler, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was Acacia Capital of San Francisco, CA. The buyer was Dallas, TX-based Phoenix Property Company.  …

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GORMAN & COMPANY INC. SELECTS RAINBOW HOUSING AS SERVICE PROVIDER FOR ONE OF THE FIRST SECTION 811 MULTIFAMILY HOUSING DEVELOPMENTS IN ARIZONA

Rainbow Housing Assistance Corporation (Rainbow), a nonprofit organization that provides service-enriched housing programs for residents of rental housing communities throughout the country, has been selected by developer Gorman & Company, Inc. as the service provider for West End Station, a new $12 million, 70-unit affordable housing development in Tucson, Arizona. West End Station, which will…

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MARCUS & MILLICHAP PROMOTES MARK RUBLE TO SENIOR VICE PRESIDENT INVESTMENTS

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has promoted Mark Ruble to senior vice president investments. Most recently, Ruble held the position of first vice president investments.   Ruble joined Marcus & Millichap through the firm’s Sales Intern Program in 2004…

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