{"id":1004030880,"date":"2011-07-10T06:11:55","date_gmt":"2011-07-10T14:11:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004030880"},"modified":"2022-12-08T03:52:48","modified_gmt":"2022-12-08T11:52:48","slug":"mig-real-estate-continues-acquisition-phase-with-purchase-of-163400-sf-scottsdale-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mig-real-estate-continues-acquisition-phase-with-purchase-of-163400-sf-scottsdale-office-park\/","title":{"rendered":"MIG Real Estate Continues Acquisition Phase with Purchase of 163,400 SF Scottsdale Office Park"},"content":{"rendered":"<p>By Nicholas Zieger, News Editor<br \/>\nJuly 11, 2011<br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/07\/071111-CROP-MIG-Real-Estate-Scottsdale-Centre.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004030881\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mig-real-estate-continues-acquisition-phase-with-purchase-of-163400-sf-scottsdale-office-park\/071111-crop-mig-real-estate-scottsdale-centre\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/07\/071111-CROP-MIG-Real-Estate-Scottsdale-Centre.jpg\" data-orig-size=\"640,428\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"071111&#8212;CROP-MIG-Real-Estate-Scottsdale-Centre\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/07\/071111-CROP-MIG-Real-Estate-Scottsdale-Centre.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/07\/071111-CROP-MIG-Real-Estate-Scottsdale-Centre.jpg\" alt=\"\" title=\"071111---CROP-MIG-Real-Estate-Scottsdale-Centre\" width=\"150\" height=\"150\" class=\"alignright size-thumbnail wp-image-1004030881\" \/><\/a><\/p>\n<p>And MIG\u2019s portfolio keeps on growing. Piggybacking on three large property acquisitions in June, MIG Real Estate acquired the 164,300 square feet of the Scottsdale Center, five Class-A two-story buildings in Scottsdale, Ariz. The property, which recently underwent a $5.1 million renovation, was constructed in 1985. <\/p>\n<p>Greg Merage, CEO of MIG, was optimistic on the possibilities for the property. \u201cOver the last decade, a variety of notable business, entertainment and cultural additions have opened near the Scottsdale submarket, making it a pro-business environment with a well-educated, professional workforce,\u201d he said. \u201cThe Scottsdale location provides us with exceptional upside potential for Scottsdale Centre.\u201d <\/p>\n<p>The Phoenix commercial real estate market looks to be a good investment for MIG, as the area appears to be showing signs of positivity. According to a Jones Lang LaSalle report, Phoenix has been trending upwards since the end of 2010, when it saw vacancy rates decline for the third consecutive quarter. A majority of that positive absorption was seen in Class-A spaces. Additionally, the area gained 30,300 private-sector jobs in 2010, making it the number-two city in the United States for job growth &#8212; just behind New York. <\/p>\n<p>MIG\u2019s portfolio of office and mixed-use properties continues to grow, especially in the western part of the country. In June 2011, the firm added three Las Vegas acquisitions: the 100,000-square-foot, 18-building Pines Corporate Center; the Desert Inn Las Vegas, a 116,000-square-foot, four-multi-tenant building park; and the Rainbow Corporate Center, a 151,660-square foot property. The company has been selectively expanding its Las Vegas footprint since October 2010, when it acquired the 100,000-square-foot Sunset Pilot Plaza and the 99,000-square-foot Vista Commonsretail center in Summerlin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Piggybacking on three large property acquisitions in June, MIG Real Estate acquired the 164,300-square-foot Scottsdale Center, five Class A two-story buildings in Scottsdale, Ariz.<\/p>\n","protected":false},"author":1201,"featured_media":1004030881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21752,21742,21747],"tags":[],"class_list":["post-1004030880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mixed-use","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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