REBusinessOnline

MG Properties Acquires 429-Unit Sonoran Apartments in Arizona

PHOENIX — San Diego-based MG Properties Group has purchased Sonoran Apartments, a multifamily property located in Phoenix, for an undisclosed price. Built in 1995, the garden-style apartment community features 429 units in a mix of one-, two- and three-bedroom floor plans with well-appointed kitchens, walk-in closets, full-size washers/dryers and private patios or balconies. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE Phoenix represented the undisclosed seller, …

IPA Negotiates $37.2M Sale of Multifamily Complex in Central Phoenix

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Monterra Apartment Homes, a multifamily community in central Phoenix. Weidner Apartments Homes sold the property to an institutional investment manager for $37.2 million, or $144,186 per unit. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Built in 2001, Monterra Apartment Homes features 258

Hines Opens 250,000 SF Offices at Chandler Viridian in Chandler, Arizona

CHANDLER, ARIZ. — Hines has officially opened the Offices at Chandler Viridian, a six-story, Class A office property located in at the intersection of Loop 101 and Loop 202 in Chandler. The 250,000-square-foot building features a large, open floorplan with 10-foot tall ceilings, a lounge and a large courtyard. In addition to the grand opening, Hines announced two tenants: Stantec will occupy approximately 51,000 square feet on the second and third floors, while Workuity will occupy 19,787 …

Andersen, Opus Break Ground on 550,000 SF Manufacturing Facility in Goodyear, Arizona

GOODYEAR, ARIZ. — Minnesota-based Andersen Corp., a window and door manufacturer, along with Opus Development Co., has broken ground on a manufacturing facility within Goodyear Crossing Industrial Park in Goodyear. Situated on 26 acres, the 550,000-square-foot facility will feature 21 truck bays on the east side of the building, four truck bays on the southeast corner, rail service by two lines and a front entrance with two stories of glass windows. As lead developer, designer and …

1784 Capital Holdings Breaks Ground on Gold Dust Self Storage in Scottsdale, Arizona

SCOTTSDALE, ARIZ. — Scottsdale-based 1784 Capital Holdings has broken ground on its Gold Dust Self Storage, located at 7245 E. Gold Dust Ave. in Scottsdale. Situated on a 2.1-acre former Macaroni Grill site, the facility will feature two above-ground floors and one below-ground floor totaling 117,567 gross square feet and 82,505 square feet of net rentable space. The high-end self-storage property will feature climate-controlled loading areas, hotel-style lobbies, conference rooms and play …

ViaWest Group Buys 240,000 SF Office Building in Downtown Phoenix for $37.6M

PHOENIX — ViaWest Group has purchased an office building and a semi-adjacent parking garage located at 200 E. Van Buren St. and 460 N. 3rd St., respectively. Phoenix Newspapers Inc. sold the 240,000-square-foot property for $37.6 million. Barry Gabel and Chris Marchildon of CBRE’s Capital Markets Institutional Properties in Phoenix represented the seller in the deal. The Arizona Republic and azcentral.com will remain anchor tenants, occupying approximately 99,000 square feet, of the …

Vantage Data Centers to Develop 50-Acre Campus in Goodyear, Arizona

GOODYEAR, ARIZ. — Vantage Data Centers has unveiled plans to develop a data center campus, located at the southeast corner of Van Buren Street and Bullard Avenue in Goodyear. Spanning 50 acres, the center will feature three data center buildings and office space totaling more than 1 million square feet of space. Additionally, the campus will offer a total of 160-megawatts of critical load. Design, site plan approval and permitting are underway with construction expected to begin in …

Orion Arranges $3.5M Sale of Family Dollar-Anchored Retail Center in Phoenix

PHOENIX — Orion Investment Real Estate has negotiated the sale of Bell Canyon Plaza, a multi-tenant retail center located at the corner of 24th and Roosevelt streets in Phoenix. Ramsey Real Estate Group acquired the property from Ten Fourteen 24th Associates for $3.5 million, or $194 per square foot. Family Dollar anchors Bell Canyon Plaza on a newly extended lease. Additional tenants include Taco Bell and MetroPCS. Ari Spiro, Derek Buescher and Jared Williams of Orion represented the …

Equus Capital Partners Sells Raintree Corporate Center in Arizona for $91.7M

SCOTTSDALE, ARIZ. — Equus Capital Partners has completed the sale Raintree Corporate Center, an institutional-quality office project in Scottsdale. Funds managed by Oaktree Capital Management and Cypress Office Properties acquired the multi-tenant property for $91.7 million. Situated on 11.6 acres at 8800 and 8888 E. Raintree Drive, the 345,417-square-foot property was 90 percent leased at the time of sale. The asset consists of two three-story office buildings featuring a six-level …

Cohen Asset Management Completes Sale of 77,642 SF Phoenix Airport Industrial Center for $8.6M

PHOENIX — Los Angeles-based Cohen Asset Management has completed the disposition of Phoenix Airport Industrial Center, an industrial building in Phoenix. Denver-based EverWest Real Estate Investors acquired the property for $8.6 million. Will Strong of Cushman & Wakefield Capital Markets represented the seller in the deal. Situated on 3.9 acres at 824 E. University Drive, the 77,642-square-foot Phoenix Airport Industrial Center features ample loading capabilities, a fenced truck …

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