Mesa West Capital Funds Two Multifamily Loans Totaling $73.3 Million Secured by Phoenix-area assets

In two separate transactions, Mesa West Capital has funded $73.3 million in floating rate non-recourse loans secured by multifamily communities in Phoenix, AZ. In the larger of the two financings, Mesa West provided a joint venture between Optima and DeBartolo Development with  $49.8 million in first mortgage debt to refinance Optima Sonoran Village in Old…

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Southeastern Aluminum Products Signs Lease to Expand and Relocate

Cushman & Wakefield, a global leader in commercial real estate services, announced today that Southeastern Aluminum Products, Inc. has signed a lease at 2250 S. 7th St. for the relocation and expansion of its regional manufacturing and distribution operations. Southeastern Aluminum Products, headquartered in Jacksonville, FL, has leased an entire 31,581-square-foot building in Downtown Phoenix.…

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MAINSTREET PURCHASES PROPERTY AT ALGODON CENTER FOR TRANSITIONAL CARE AND ASSISTED LIVING FACILITY

MainstreetÒ, the nation’s largest developer of transitional care properties, has purchased 3.65 acres at Algodon Medical Office Park for $1,726,304 in West Phoenix for creation of a transitional care and assisted living center. Mainstreet began construction in mid-February on a Next GenerationÒ property at the site, which is located on the southwest corner of 91st…

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ViaWest Signs Multiple Leases at “ConneXion” in ASU Research Park

ViaWest Group recently signed 21,704 square feet of leases at ConneXion, a recently modernized multi-tenant building in the ASU Research Park.  Intersil Corp, ChannelCode, Quantenna, Mareel Slater Insurance, and NextNet Partners signed a combination of new, renewal, and expansion leases bringing the project to 92% occupancy. ConneXion @ ASU Research Park (previously referred to as…

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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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