De Rito Partners, Inc. is Successful in Brokering Two Significant Adaptive Reuse Projects

Marty De Rito and Martin Leon of De Rito Partners, Inc assisted Phoenix Motors in the relocation and acquisition of their new Mercedes-Benz of Scottsdale dealership now located at 4725 N. Scottsdale Road (this transaction won NAIOP’s Transaction of the Year in 2015). De Rito Partners, Inc. then brokered a deal for a new adaptive reuse project involving…

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Middlefork Commercial Sells Prescott Medical Building for $1.25 Million

Middlefork Commercial recently facilitated the $1.25 million sale of a medical office building at 808 Ainsworth Drive in Prescott, Ariz. The two-tenant medical building was purchased by Van DE Mortel Trust from 808 Ainsworth, LLC. Sean Bishop, CCIM of MIddlefork Commercial represented the seller in the transaction. The building was fully occupied at the time…

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RIVULON LANDS SAUCE PIZZA & WINE AND JERSEY MIKE’S SUBS

Columbus-based Nationwide Realty Investors announced today the first tenants for its new 17,000-square-foot multi-tenant retail building at Rivulon.  Nationwide Realty Investor’s President and COO Brian J. Ellis made the announcement. Sauce Pizza & Wine will occupy 3,200 square feet of space and Jersey Mike’s Subs will occupy 1,400 square feet in the new retail building…

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IO Acquires Nine Acres Adjacent to Phoenix Airport to Build Largest Renewable-Power Data Center in U.S.

Cushman & Wakefield, a global leader in commercial real estate services, announced today that IO has acquired 9.08 acres at the northeast corner of 48th and VanBuren streets near Sky Harbor International Airport for $8.55 million. The company plans to build the country’s largest renewable-powered data center with an estimated investment of more than $500…

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ALTER ANNOUNCES R-TECH, A 150,000 SF CO-WORKING SPACE AT RIVERWALK ARIZONA GLOBALTRANZ INC. SIGNS 70,347 SF LEASE

Alter announces R-Tech, a major new collaborative and creative office space at its Riverwalk Arizona (www.riverwalkarizona.com), a 176-acre mixed-use business park in Scottsdale, AZ.  GlobalTranz Inc. (www.globaltranz.com) will be the inaugural tenant, signing a 70,347 SF lease to expand its sales and operations space. Michael J. Alter, President of the Chicago-based national corporate real estate…

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MARCUS & MILLICHAP SELLS CENTRAL PHOENIX MULTIFAMILY PORTFOLIO FOR $5,112,000 or $72,000 PER UNIT

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 the Lin Lor Portfolio, a 71-unit portfolio comprising of four properties located in the Camelback Corridor and Biltmore Area in Phoenix. The asset commanded a sales price of $5,112,000.…

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Optima bringing distinctive architectural vision, next evolution of luxury urban living, design to Optima Kierland

Optima is introducing its next evolution of sophisticated urban living and design with the announcement of Optima Kierland, a new community featuring Optima’s award-winning architectural vision and high-rise luxury living, now being constructed at Kierland in North Scottsdale. Optima Kierland, situated on 9.5 acres at Scottsdale Road and Kierland Boulevard, showcases signature Optima architecture design…

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Harvard and Lincoln Buy, Build to Assemble 425,000 SF Waypoint Campus

With the just-closed, $34.34 million office acquisition of Riverview Point, Harvard Investments and Lincoln Property Company (LPC) will combine new construction with existing buildings to establish a 425,861-square-foot, Class A office campus at the borders of Tempe, Scottsdale and Mesa, Ariz. The new development, branded collectively as Waypoint, will combine Harvard and LPC’s recently delivered…

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FIDENT CAPITAL EXPANDS TEAM WITH NEW ANALYST

Fident Capital, a local boutique real estate investment bank, is expanding its team with the recent addition of Analyst Blake Schoenberg. With a diverse real estate development background and a strong academic foundation, Schoenberg joins Fident Capital supporting all production activities. Over his career, he has evaluated various site locations, potential acquisition targets, and due…

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