Phoenix
CSM to Reinvent Phoenix Office Building as Select-Service Hotel; W.P. Carey Pays $23M for Avnet HQ In Tempe
CSM Lodging, a division of CSM Corporation, plans to revamp the historic Professional Building – the former Valley Bank & Trust building – in downtown Phoenix, and turn it into a premium select-service hotel.
Younan Buys Class A Office Building for $7M; Hansji Urban to Start $80M Marriott Project
In a $7,1 million deal, Woodland Hills, California-based Younan Properties Inc. has acquired Black Canyon Corporate Center, a 94,203-square-foot office property in Phoenix, from REO Asset Manager, John Mitchell, of LNR Partners, as special servicer.
TDI Starts 332-Unit Luxury M-F Project at One Scottsdale
Irving-Texas – based TDI Real Estate Holdings LLC, a leader in the development of Class A multi-family housing, has broken ground on Jefferson on Legacy, a 322-unit luxury apartment community within the One Scottsdale mixed-use development.
Lowe JV Buys 2 Class A Office Buildings in Phoenix for $51M
Frequent partners Lowe Enterprises and J.P. Morgan Asset Management have joined forces on the acquisition of a two-building, 327,300-square-foot office portfolio in metropolitan Phoenix. The partnership acquired the Class A office properties from CJK Investments for an aggregate $51 million.
P. B. Bell Closes on Sites of Luxury M-F Projects in Phoenix, Scottsdale
The P. B. Bell Companies, a locally owned and operated real estate management and development firm, has announced plans to develop a 244-unit luxury multi-family community in the Valley.
Whitestone REIT Buys N. Scottsdale Community Center for $37M
In a $37.4 million deal, Whitestone REIT acquired Market Street at DC Ranch, a 241,280-square-foot mixed-use neighborhood center in North Scottsdale, from DMB.
Liberty Property Trust Breaks Ground on 1 MSF Tempe Business Park
Liberty Property Trust broke ground on Building One, the first of up to 11 planned buildings at Liberty Center at Rio Salado, a sustainable mixed-use business park under development in Tempe.
Freeport-McMoRan Center Receives TOBY Award; MIG Picks Up Class A Office Building
Freeport-McMoRan Center, a 26-story mixed-use building in the heart of downtown Phoenix managed by Transwestern, received The Outstanding Building of the Year (TOBY) Award for 2013 from the Building Owners and Managers Association (BOMA), Greater Phoenix chapter.
Mark-Taylor Breaks Ground on Gilbert M-F Community; Crescent Kicks Off $61M M-F Project in Scottsdale
Mark-Taylor, Inc. recently broke ground on San Privada, a 296-unit luxury rental community in Gilbert.
Apple Acquires 1.3 MSF Manufacturing Facility in Mesa for Supplier
In a $113.57 million deal, Apple Inc. has purchased a brand-new, 1.3 million-square-foot industrial property on an 83-acre site in Mesa, the Phoenix Business Journal reported.