Camelia Bulea
Blogging and social media aficionada, with an evergrowing passion for human communication and interaction.
Tanger Opens $76M Outlet Mall at Westgate City Center in Glendale
Eight months after breaking ground, Tanger Outlets Westgate, a $76 million outlet mall, opened to the public on Nov. 15, reported the Phoenix Business Journal. The 85-store center will be an anchor for the 8 million-square-foot Westgate City Center complex, which will incorporate shopping, entertainment, office and luxury residential elements.
First Washington-CalPERS JV Buys Lincoln Village Shops for $38.7 million
Global Retail Investors L.L.C ., a joint venture of First Washington Realty and the California Public Employees’ Retirement System, has acquired Lincoln Village Shops in Scottsdale for $38.7 million, or $544.16 per square foot. The seller, an affiliate of Redwood Real Estate Partners, had owned the 71,142-square-foot property located at Scottsdale Road and Lincoln Drive since 1993. Lee & Associates was the broker.
Intravest Takes N. Phoenix Flex Building for $19M
Intravest Development L.LC. has purchased a 145,000-square-foot flex industrial building in North Phoenix. This $19.06 million acquisition marks the first commercial asset in the investor’s portfolio, the Phoenix Business Journal reported. Robert Lundstedt of Daum Commercial represented Intravest in the transaction. Johnson Bank provided financing for the buyer.
Contested $17M Senior Housing Project Breaks Ground in Mesa
Mesa officials broke ground Oct. 29 on a $17 million senior living center in the city’s Downtown. Dubbed the Residences at Center Street Station, the five-story project is being developed by Mesa Housing Associates and Encore and is scheduled for completion by October 2013, the East Valley Tribune reports.
Banner Health Group Starts $45M East Valley Expansion
Banner Health Group is expanding its East Valley presence with a $45.2 million quartet of healthcare centers in Chandler, Gilbert, Mesa and Queen Creek. The Phoenix-based company broke ground Oct. 24 on all four facilities, the East Valley Tribune reported.
Construction Begins on Oak Lawn Luxury Apartment Community
Addison-based Behringer Harvard has begun construction on a new luxury apartment community in the Oak Lawn/Uptown submarket of Dallas, at the intersection of Maple and Oak Lawn avenues. Trammell Crow Residential, the developer of the apartment community, partnered with Behringer Harvard on the acquisition.
Archway Holdings Buys Glendale MOBs from Ventas for $20M
In a $20 million deal, Archway Holdings Corp. has acquired Arrowhead Health Center, a 103,216-square-foot, two-building complex located near Arrowhead Hospital in Glendale, from Ventas Inc., the Phoenix Business Journal reported. Formerly known as Arrowhead Orchards, the complex is about 65 percent leased, a level that Archway believes offers growth opportunities. The new acquisition expands Archway’s medical office portfolio in Arizona to about 400,000 square feet.
Allred Starts 2nd Spec Project of 2013 at Chandler Office Park
Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler–a 69,000-square-foot speculative office building. The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the Phoenix Business Journal.
Victory Healthcare Expands in DFW Area
Victory Healthcare announced plans to build a $70 million specialized surgical hospital in Fort Worth, after opening its first surgical hospital in Plano on Oct. 1. The 48,000-square-foot Victory Medical Center Plano features 20 private in-patient suites, five operating suites and three special-procedure rooms.
Weidner Adds Chandler Complex to Growing Arizona Portfolio
In a $27.3 million deal, an affiliate of Weidner Apartment Homes has acquired Dobson Towne Centre, a 240-unit luxury apartment property in Chandler. CBRE Group Inc. represented Weidner in the transaction, which was financed with a $20.7 million Fannie Mae loan.










