COMMERCIAL PROPERTIES INC., IS PLEASED TO ANNOUNCE THE ±12,912 SF SALE OF A MEDICAL OFFICE INVESTMENT IN CHANDLER, AZ

Commercial Properties, Inc./CORFAC International. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the triple net sale leaseback of a medical office investment in Regency Park Office located in Chandler, Arizona. The medical building equaled approximately ±12,912 square feet and is located in 1455 W. Chandler Blvd. Eric Jones of CPI’s…

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NAI Horizon to lead leasing of 440,000 SF Corporate Center

The repositioning of Corporate Center has begun. NAI Horizon has been assigned the exclusive leasing assignment for the 440,000-square-foot office complex along the reinvigorated I-17 corridor in North Phoenix.       Bay Pacific Corporate Center Phoenix, LLC, has hired NAI Horizon’s Troy Giammarco, Tyler Smith, and Nathan Pancrazi to lead the leasing efforts. In addition, the…

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Scottsdale Airpark Building Trades for $3.91M to Undergo Extensive, State-of-the Art Reno

A 35,077 SF manufacturing building at 15550 N. 78th St., Scottsdale, sold recently for $3,910,000 or $111.47 per SF. Lee & Associates Principal Steve Farrell represented the buyer, MBBE AZ, LLC, Scottsdale while Lee Principals Stein Koss, Tom Louer and Associate Nick Nudo represented the seller, Industrial Electric Wire & Cable, Inc., Scottsdale. MBBE AZ,…

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NorthMarq Capital completes $10 million refinance of Cameron Apartments in Phoenix, Arizona

Luke Donahue, senior vice president of NorthMarq Capital’s Phoenix regional office, arranged the $10 million refinance of Cameron Apartments, a 200-unit multifamily property located at 5421 West Indian School Road in Phoenix, Arizona. The transaction was structured with a full term interest only loan. NorthMarq provided the financing for the borrower through its Fannie Mae…

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‘Third Space’ project wins MRED-REIAC/Rockefeller Group Challenge

The teams consisting of graduating students from Arizona State University’s W. P. Carey School of Business, Masters of Real Estate Development (MRED) program competed for cash prizes. Spire Development captured the honor, garnering $1,000 each for members Anna Sepic, Jay Van Tussell, and Kyle Trent. This year’s project consisted of a mixed-use development at Dorsey…

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CONSTRUCTION EMPLOYMENT INCREASES BY 5,000 IN APRIL TO HIGHEST LEVEL IN NINE YEARS; BUT LABOR SHORTAGES LIKELY LIMITED NUMBER OF NEW JOBS BEING ADDED

Construction employment increased by 5,000 jobs in April to the highest level in more than nine years amid strong demand for new construction services, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that a shortage of available qualified workers likely limited the number of…

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Lowe’s Ground Lease Trades Hands for $22.7 Million

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 119,336-square-foot, triple-net Lowe’s ground lease in Tempe, Arizona. The sales price is $22.7 million. “Highlighting the strength of the asset’s positioning within two of the area’s largest urban centers,…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 7,700-SQUARE FOOT NET-LEASED PROPERTY

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 Big O Tires , a 7,700-square foot net-leased property located in Mesa, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $2,715,000.…

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