Arizona

Gramercy Property Trust, TPG Buy Nexus at ASU Research Park in Tempe for $27.6M

by Nellie Day May 5, 2017

TEMPE, ARIZ. — A partnership between Gramercy Property Trust and TPG has acquired Nexus at ASU Research Park, a 123,864-square-foot office building in Phoenix, for $27.6 million. The Class A building is situated just off Loop 101 in the ASU Research Park. The building is fully leased to an online retailer. Amenities at the park include a day care center, six miles of jogging and bike trails, lakes, a helipad and security patrol. JLL’s Mark Detmer, Bo Mills, Mark Gustin and Ryan Sitov executed the sale. The seller was a joint venture between ViaWest Group and Blue Vista Capital.

May 5, 2017

Arizona Office Western

Turnstone Office Park in Scottsdale Sells for $10M

by Nellie Day May 4, 2017

SCOTTSDALE, ARIZ. — SLR and NHR Turnstone LLC have acquired the 64,949-square-foot Turnstone Office Park in Scottsdale for $10 million. The four-building complex is located at 17767 to 17797 N. Perimeter Drive in the Scottsdale North/Airpark submarket. The park is situated within the Perimeter Center. NGKF’s Erik Marsh and Nicole Iglehart represented both the buyer and the seller, Turnstone Office Park LP, in this transaction.

May 4, 2017

Arizona Office Western

Scientific Technologies Corp. Leases Office Space in Phoenix

by Nellie Day May 4, 2017

PHOENIX — Scientific Technologies Corp. has leased 26,174 square feet of office space at a warehouse and distribution site that is being converted into an office building. The space is located at 411 S. 1st St. in Phoenix. The site was formerly occupied by Phoenix Packaging Products. The property is being converted to creative office space as part of an adaptive reuse project. Jim Sadler and Darius Green of Keyser represented Scientific Technologies Corp., while CBRE’s Corey Hawley and Jimmy Cornish represented the landlord, 1st Buchanan LLC, in this transaction.

May 4, 2017

Arizona Retail Western

CBRE Arranges Sale of Scottsdale Towne Square in Arizona

by Nellie Day May 3, 2017

SCOTTSDALE, ARIZ. — CBRE Group Inc. has arranged the sale of Scottsdale Towne Square, a 162,259-square-foot shopping center located in Arizona. The property was 95.7 percent occupied at the time of sale by tenants including Natural Grocers, Ra Sushi and First Watch. Bob Young, Glenn Smigiel, Steve Brabant and Rick Abraham of CBRE represented the seller, Holualoa Scottsdale Retail LLC. Woodbury Corp. acquired the property. The sale price was not disclosed.

May 3, 2017

Arizona Industrial Western

Abington Emerson Investments Buys Industrial Property in Gilbert for $5.5M

by Jeff Shaw May 1, 2017

GILBERT, ARIZ. — Abington Emerson Investments has purchased a 73,283-square-foot industrial property in Gilbert for $5.5 million. The property is located at 1405 N. Fiesta Blvd. It was built in 1998. CBRE will act as the leasing agent. The firm’s Barry Gabel, Chris Marchildon, Brian Raczynski, Tim Watters, Evan Koplan and Mike Parker represented the seller in this transaction.

May 1, 2017

Arizona Office Western

Cypress Office Properties Begins $50M Renovation of Renaissance Square in Phoenix

by Nellie Day April 27, 2017

PHOENIX — Cypress Office Properties has begun renovation work on the Renaissance Square office building in Phoenix. The building is located at 40 N. Central Ave. The $50 million renovation will span both towers. The first tower will feature a “tech” atmosphere that contains a lobby with a live plant wall and integrated technology for digital signage. The second building will feature boutique-style interior finishes with a warm hospitality feel. The first phase of the renovation will include a $10 million investment that will upgrade both buildings’ lobbies, the lower level lobby and elevators. It will also include the creation of a 7,000-square-foot, multi-purpose conference facility and multiple office suites. Wespac Construction is acting as the general contractor, while Craig Coppola of Lee & Associates Arizona will serve as the leasing agent.

April 27, 2017

Arizona Office Western

Kramer-Wilson Buys Chandler Midway Corporate Center Buildings for $23.3M

by Nellie Day April 27, 2017

CHANDLER, ARIZ. — Kramer-Wilson Company has purchased two office buildings within the Chandler Midway Corporate Center for $23.3 million. The Class A buildings are located at 5670 and 5710 W. Chandler Blvd. in Chandler. The assets are fully leased. CBRE’s Barry Gabel and Chris Marchildon represented the seller, ViaWest Group, in this transaction.

April 27, 2017

Arizona Multifamily Western

Canyon North Apartments in Phoenix Sells for $3.2M

by Nellie Day April 24, 2017

PHOENIX — Canyon North Properties has acquired the 50-unit Canyon North apartments in Phoenix for $3.2 million. The community is located at 2339 W. Northern Ave. It was originally built in 1964 and renovated in 2016. Canyon North contains one- and two-bedroom units. The property also has access to I-17 and Valley Metro light rail. CBRE’s Brian Smuckler and Jeff Seaman represented both the buyer and seller, South Sunshine Coast, in this transaction.

April 24, 2017

Arizona Office Western

Kramer-Wilson Buys Scottsdale Executive Office Center for $37.5M

by Nellie Day April 21, 2017

SCOTTSDALE, ARIZ. — Kramer-Wilson Co. has acquired Scottsdale Executive Office Center, a 181,238-square-foot office campus in Scottsdale, for $37.5 million. The Class A campus is located at 15880, 15990 and 16100 N. Greenway-Hayden Loop. It was built in 1997. Kramer-Wilson recently has purchased four office properties in the greater Phoenix market since November, totaling nearly a 500,000 square feet.

April 21, 2017

Arizona Industrial Western

Skanska Prepares to Deliver New Dexcom Facility in Mesa

by Nellie Day April 19, 2017

MESA, ARIZ. — Skanska is completing construction on Phase I of Dexcom’s 145,000-square-foot build-out of an existing shell building in Mesa. The facility will be located at 232 S. Dobson Road. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space that will produce hardware- and software-compatible glucose monitors. The space includes 33,000 square feet of controlled environment room, chem prep and microbiology labs, 20,000 square feet of production machine shop and high-bay warehouse space, 42,000 square feet of equipment mezzanines, and 20,000 square feet of office, training and support space. A new 10,000-square-foot central utility building and equipment yard will also be built on-site.

April 19, 2017

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