CONSTRUCTION FIRMS ADD 11,000 EMPLOYEES IN OCTOBER AS SECTOR’S EMPLOYMENT IS AT THE HIGHEST LEVEL SINCE DECEMBER 2008 DESPITE DROP IN PUBLIC SPENDING

Construction employers added 11,000 jobs in October as employment in the sector is at the highest level since December 2008 despite declines in public sector investments in construction projects, according to an analysis by the Associated General Contractors of America. Association officials noted that average hourly earnings for construction workers increased by 3.2 percent compared…

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Cresa Phoenix Dominates at the Goodmans Chair Hockey Tournament

Cresa Phoenix recently won Goodmans Chair Hockey Tournament, hosted by Goodmans Interior Structures and produced by Rooted in Good, Inc., an Arizona 501(c)3 operated by Goodmans employees. This year’s event raised $10,000 for First Place® AZ, a local non-profit working hard to ensure that housing options for people with autism and other special abilities are…

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Stiles Realty Team Closes More Than $6.2M in Industrial Sale Trifecta

Fort Lauderdale-based Stiles Realty announced today that vice presidents Patrick Conness and Mike Crissy recently completed a sales trifecta that encompassed two industrial building sales and a land sale for a total of more than $6,200,000. In the first and largest transaction, Conness and Crissy represented Silest, LLC in the sale of a 46,562-square-foot multi-tenant…

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James DuMars of NorthMarq arranges financing for $32M sale of San Diego Business Park

James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office arranged a $16.65 million loan on the $32 million acquisition of an 11-building office/warehouse/flex business park, totaling approximately 208,500 square feet, in San Diego, Calif. The transaction was structured with a 5+5 term on a 25-year amortization with 3-years of interest-only and flexible…

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 4,075-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 Chick-Fil-A Ground Lease, a 4,075-square foot net-leased property located in Hutchinson, KS, according to Donald D. Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,240,000.…

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City of Peoria Awards Plaza Companies Negotiating Rights To Critical 14-Acre Commercial Parcel Along Loop 101

The City of Peoria is continuing to push its economic development efforts with a new agreement with Plaza Companies on a critical 14-acre parcel at the Loop 101 and Peoria Road. The Peoria City Council voted last week to grant Plaza Companies exclusive negotiating rights on the city-owned parcel with the goal of creating a new commercial office complex to attract new…

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NAIOP-AZ BOARD OF DIRECTORS ELECTS NEW OFFICERS AND BOARD MEMBERS FOR 2017

The Arizona chapter of NAIOP, the commercial real estate voice for the state, elected its 2017 officers and board members at its annual board meeting held November 1. 2017 NAIOP-AZ officers are Chairman of the Board, Larry Pobuda, Opus Group; Vice Chairman, Matt Mooney, Cousins Properties; Programs Chair, Andrew Cheney, Lee & Associates; and Secretary,…

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Fully Occupied Multifamily Complex Trades in Off Market Transaction

Country Club Greens Apartment Homes, totaling 68 units, closed yesterday for $6,025,000 ($88,603/unit). The building was fully occupied at close of escrow. Christopher Roach, Matthew Roach, and Joseph Dietz of ORION Investment Real Estate negotiated the off market transaction. “The buyers are a father and son team out of Vancouver, Canada. They plan to hold…

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