North American Development Group Unveils Eldorado on 1st

Toronto-based North American Development Group (NADG) and sales and marketing partners AZarchitecture/Jarson & Jarson Real Estate, together with City of Scottsdale officials, today celebrated the groundbreaking of Eldorado on 1st, a new mixed-use residential development concept designed by renowned Phoenix architect Will Bruder. Eldorado on 1st is a collection of seven refined city homes located…

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Phoenix Finance Expert Arranges ACQ Financing for 1.5 Million SF Dallas Project

Cushman & Wakefield announced today that Robert Kline, Managing Director of Equity, Debt and Structured Finance, has represented San Francisco-based Drever Capital Management in arranging the private equity firm acquisition financing for the $65 million purchase of 1401 Elm in Dallas. Drever Capital Management purchased the iconic 50-story 1401 Elm skyscraper in downtown Dallas out…

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Birtcher Anderson Realty Purchases Presson Companies Portfolio for $26.57M

Cushman & Wakefield announced today the sale of the Presson Portfolio, a 312,155 square foot (sf), three property portfolio in Tempe and Mesa, Ariz. Birtcher Anderson Realty, based out of San Juan Capistrano, Calif., purchased the portfolio for $26.57 million from Presson Companies. The Presson Portfolio sale included three properties – Fairmont Commerce Center, 1919…

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Lincoln Property Co. Hires John Orsak as Director of Real Estate

Lincoln Property Company (LPC) Desert West has hired industry veteran John Orsak as Director of Real Estate. Orsak brings 15 years of real estate experience to his new position, with a focus on acquisitions, dispositions, development, leasing and asset management. Orsak previously served as Director of Operations and Project Manager at Hines, and as Senior Director Development…

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On Par: Three New Office Leases, Golf Amenity Push Occupancy at Stonecreek Pointe

Golf course-facing views and significant property renovations at Stonecreek Pointe have attracted three new tenants to the Paradise Valley office project. On behalf of building owner HighBrook Investment Management/Cypress Office Properties, the Phoenix office of JLL has completed almost 30,000 square feet in new leases to Premier Business Centers, Vertical Measures and People’s Mortgage. The leases bring…

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Macdonald Development Corporation Partnering with Spike Lawrence, ARC Construction on Downtown Tempe Project

Vancouver, British Columbia-based Macdonald Development Corporation (MDC) is expanding its Arizona presence with the purchase of 0.403 acres of CC-zoned land in downtown Tempe, Ariz., which the company will develop in partnership with current landowner Spike Lawrence and Bill Borders of Phoenix-based ARC Construction.   MDC purchased a 50 percent interest in the land, which…

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Partnership pays $13.6MM cash for +/-33 acre planned power center site in Gilbert

In its second Valley purchase to date, Nevada developers Remington Nevada (David Delzotto, owner-developer) and Intercapital Development have once again teamed up with locally-based Capital Asset Management to purchase a prime 32.9-acre site located on the southwest corner of Williams Field Road and SanTan Parkway in Gilbert, Ariz.  The site, cash purchased for $13,613,437, will…

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