Phoenix
Xenia Invests $305M in 2 AZ Hotels
The company purchased the 493-key Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch in Scottsdale, Ariz., as well as the 119-key Royal Palms Resort & Spa in Phoenix. Both hotels will continue to be managed by Hyatt.
ORION Facilitates Phoenix Retail Center Sale
Paragon Southern Plaza LLC sold the 16,980-square-foot property for $1.8 million. Southern 19 Plaza is located in a strong trade area near a major artery in the city.
Phoenix Commerce Center Trades for $14M
Kidder Mathews brokered the sale of a 93,725-square-foot industrial asset known as Pinnacle Peak Commerce Center. The company was retained to manage the property.
Hines Breaks Ground on Phoenix Office Building
Stantec will locate its Southwest regional headquarters at the Offices at Chandler Viridian, planned to become the tallest multi-tenant office building in the city.
CapRock Buys Phoenix Facility for $8M
The company acquired an industrial property in an off-market transaction, with plans to transition the asset to Class A standards.
JLL Brings Phoenix Center to Full Occupancy
The strip center known as Hurley Plaza is 100 percent leased, with four new businesses joining the tenant roster in a high-traffic area.
Demand on the Rise in Phoenix
At midyear, Phoenix’s office inventory totaled 108 million square feet. Transaction volume for the 12 months ending in July totaled $1.2 billion, corresponding to the more than 11 million square feet that changed ownership.
Meridian Buys AZ Medical Center for $5M
The historic Lois Grunow Memorial Clinic in Phoenix traded for $5 million in a deal brokered by Avison Young. Meridian plans to re-tenant the property and make it ADA-compliant.
Phoenix Industrial Portfolio Trades for $12M
Lee & Associates brokered the sale of seven industrial assets totaling 95,000 square feet. The portfolio is fully leased to Horizon Distributors Inc. for five years.
Aerospace Manufacturer Inks 103 KSF Lease in Arizona
The deal is the latest in tech manufacturing companies expanding in metro Phoenix and infill locations and broadens Modern Industries’ reach in the area.