CAPSTONE ADVISORS COMPLETES $11.8 MILLION RETAIL ACQUISITION FOR CARLSBAD PROPERTY

Capitalizing on its continued strength in adding value to well-located retail properties, Carlsbad-based Capstone Advisors has acquired a property in its own backyard with the purchase of The Island @ Carlsbad. The 39,992 square-foot retail center, purchased from Berdan Holdings, LLC for $11.8 million, plays to some of Capstone’s biggest strengths and provides an opportunity…

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MCR DEVELOPMENT LLC COMPLETES RENOVATIONS OF TWO HILTON HOTELS IN PHOENIX

MCR Development LLC (“MCR”), the seventh largest hotel owner-operator in the United States, today announced it has completed renovations of two hotels in Phoenix: the 123-suite Homewood Suites by Hilton Phoenix-Avondale and the 123-room Hilton Garden Inn Phoenix-Avondale. Both hotels opened in 2008 and are located in Phoenix’s West Valley in proximity to a variety…

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Lennar Multifamily Communities Breaks Ground on Luxury Apartments in Phoenix, Secures Two Retail Tenants

Lennar Multifamily Communities announced today the start of construction on The Muse, a 367-unit luxury apartment community in Phoenix, and the signing of two retail leases from Press Coffee Roasters and Salon D’Shayn. Located on the northwest corner of Central Avenue and McDowell Road next to Arizona Opera and across from the Phoenix Art Museum,…

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Savills Studley Taps Industry Veteran Michael White as Senior Managing Director of its Rapidly Growing Phoenix Office

Savills Studley has appointed commercial real estate industry veteran Michael White as Senior Managing Director of its Phoenix office as part of an aggressive recruiting effort designed to continue the growth and expansion of the firm’s services in the region. “Michael has an outstanding mind for complex real estate deals, and a commanding knowledge of…

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The Good, the Bad and the Ugly: A Morning with Grant Woods Valley Partnership features annual end-of-the-year reflection with former Arizona Attorney

Valley Partnership continues an annual tradition with its end-ofthe- year reflection by the always entertaining and provocative Grant Woods. The former Arizona Attorney General, prominent attorney and community leader will provide a morning of thoughtprovoking discussion about Arizona politics, education and business. The final Friday Morning Breakfast of 2015 is scheduled for Dec. 11 at…

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NAIOP ARIZONA SELECTS 11 YOUNG PROFESSIONALS FOR 2015-2016 DEVELOPING LEADERS MENTOR PROGRAM PROTÉGÉ CLASS

The 2015-2016 NAIOP Arizona Developing Leaders Mentor Program protégés have been announced, and the 11 young professionals come from all corners of the Valley’s commercial real estate industry. Each protégé was selected to participate in the year-long program in which they will attend educational seminars and complete a full scale development project by the end…

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Wentworth Property Company Purchases Tempe Industrial Property

Cushman & Wakefield, a global leader in commercial real estate services, announced today that Phoenix-based Wentworth Property Company (“WPC”) purchased a ±42,281 square foot industrial property at 2077 E. University Drive in Tempe, Ariz. for $3.6 million.   The seller was Essex Scot, LLC of Riverside, Calif. Andy Markham, SIOR, Mike Haenel, Will Strong and…

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