Phoenix
OnTrac Moves HQ to Chandler; Whitestone REIT Grabs Phoenix Community Center for $23M
OnTrac, the leader in regional overnight package delivery service in the eight Western States, plans to move its corporate headquarters to Chandler to accommodate the company’s growth demand.
Terminix Inks Westgate’s Biggest Office Lease; Griffin Pays $54.5M for Deer Valley Office Complex
Terminix plans to expand its operations to Arizona and open a new customer care center at Westgate Entertainment District in Glendale.
IIT Acquisitions Buys Southwest Phoenix Industrial Buildings for $44M
In a $44.3 million deal, IIT Acquisitions LLC has purchased Buckeye Logistics Center, a two-building, 684,064 square-foot industrial project in the Valley, from Principal Real Estate Investors.
Grossman Co. Receives $88M Financing for Arizona Grand Resort
Grossman Company Properties has secured $88 million in financing for its 740-key, all-suite Arizona Grand Resort located in Phoenix.
JDM Partners Buys State Farm’s Tempe Operations Center for $73M
In a $73 million deal, an affiliate of Phoenix-based JDM Partners L.L.C. has acquired State Farm Mutual Automobile Insurance Co.’s operations center in Tempe.
Ryan Cos., Sunbelt Holdings Team for $600M Tempe Project; DMB Opens Mesa Master-Planned Community
Ryan Companies US, Inc., and Sunbelt Holdings have joined forces for what would be the biggest office development deal in Arizona history. The team is eyeing a $600 million transit-oriented project adjacent to Tempe Town Lake in Tempe.
DPR’s Phoenix Office Wins Landmark Certifications; IIT Pays $77M for Mesa Complex
In a milestone for sustainability and adaptive reuse, an office building developed by DPR Construction has earned recognition as the largest net-zero energy building certified to date by the International Future Living Institute.
PrivatePortfolio Group Pays $68M for Scottsdale M-F Complex; $40M Student Housing Project Nears Completion in Tempe
In a $68.3 million deal, PrivatePortfolio Group LLC of Seattle has acquired Crown Court Apartments, a 416-unit multi-family property in Scottsdale.
Tyler Anderson, Sean Cunningham and Asher Gunter of CBRE Group Inc.’s Phoenix office represented the seller and structured the transaction. The property was 95 percent occupied at the time of closing.
Crescent to Build Scottsdale Quarter’s First M-F Project
Glimcher Realty Trust, one of the country’s premier retail REITs, and Crescent Communities, a Charlotte-based real estate investment, development and operating company, recently announced plans to break ground on a 275-unit, luxury apartment community in Scottsdale under a joint venture agreement.
Bascom Group Pays $35M for Downtown Chandler M-F Asset
By Amalia Otet, Associate Editor An affiliate of Irvine, Calif.-based Bascom Group L.L.C. has completed the $35.2 million acquisition of The Fairways, a 352-unit Class A apartment community located in Downtown Chandler. Cliff David and Steve Gebing of Marcus & Millichap Real Estate Investment Services Inc. represented the seller; Bascom Group was self-represented. Gary Mozer […]