Alliance Bank of Arizona Awarded “George Lyons IOLTA Partnering Bank” for 2nd Consecutive Year

Alliance Bank of Arizona, a division of Western Alliance Bank, the state’s largest headquartered bank, has won the “George Lyons Interest on Lawyers Trust Accounts (IOLTA) Partnering Bank” award for the second year in a row from the Arizona Bar Association.   The “George Lyons IOLTA Partnering Bank” award recognizes banks that maintain a strong…

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NAI Horizon’s Barbara Lloyd appointed to City of Tempe Development Review Commission

Barbara Lloyd, CCIM, a Senior Vice President at NAI Horizon, has been appointed to the City of Tempe Development Review Commission. Lloyd, a member of the NAI Investment Services Group, will serve as an alternate member of the commission for a 3-year term. The commission comprises seven members and three alternates. Alternate members serve at…

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MARCUS & MILLICHAP ARRANGES SALE OF A 2,094-SF 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 Starbucks, a 2,094-square foot net-leased property located in Phoenix, according to Don Morrow, regional manager of the firm’s Phoenix office.   The asset sold for $2,264,500. Jamie Medress, Mark…

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CBRE Completes $42.65M Sale of Highland Park and Park View

CBRE has finalized the sale of Highland Park and Park View, two multifamily communities totaling 472 units and located in dynamic Tempe, Arizona. Together, the properties commanded a sale price $42.65 million. A joint venture sponsored by Scottsdale, Ariz.-based Everest Holdings purchased the communities from San Diego, Calif.-based Stratford Partners. Tyler Anderson, Sean Cunningham, Asher…

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BKM CAPITAL PARTNERS ACQUIRES A 535,976-SF VALUE-ADD MULTI-TENANT LIGHT INDUSTRIAL ASSET FOR $58M

BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired Tempe Commerce Park, a 535,976 square-foot, five-building  property in Tempe, Ariz., in a limited marketing transaction for $58 million. This acquisition, which is BKM Capital Partners’ tenth acquisition in the Phoenix metro area this year, was…

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Largest National Brokerage Opens Phoenix Office

Coldwell  Banker  Commercial  Advisors  (CBC  Advisors),  the   largest  Coldwell  Banker  Commercial  affiliate  in  the  world,  today  announced  commercial   real  estate  veterans  Chuck  Wells  and  Trask  Switzenberg  will  lead  the  new  Phoenix  office   as  well  as  the  expansion  of  brokerage  services  throughout  the  region.   “Over  the  past  year,  CBC  Advisors  has  experienced…

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Desert Troon Companies Completes $122M Sale of Partial Perimeter Portfolio in North Scottsdale

Desert Troon Companies, a Scottsdale-based real estate development and investment firm, has completed the $122 million sale of 640,000 square feet of its original 800,000 square foot Class-A commercial office portfolio within the Perimeter Center business park located in North Scottsdale. Tom Knoell, Jr., Director of Commercial Leasing for Desert Troon Companies represented the seller,…

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Tower Capital arranges $12.73 million loan for Hilton Tucson East acquisition

TOWER CAPITAL, a Phoenix-based commercial real estate structured finance firm, announces that Adam Finkel, CCIM, and Kyle McDonough have arranged acquisition financing totaling $12.73 million secured by a 232 room Hilton hotel located in Tucson, Ariz. The property was acquired by a subsidiary of Scottsdale-based Caliber Companies, a full service commercial real estate investment firm.…

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