Arizona

Grossman Co. Properties Buys FireSky Resort & Spa in Scottsdale for $62.5M

by Nellie Day February 19, 2016

SCOTTSDALE, ARIZ. — Grossman Co. Properties has purchased the 204-room FireSky Resort & Spa in Scottsdale for $62.5 million. The resort is located at the intersection of Camelback and Scottsdale roads. It is situated across from Scottsdale Fashion Square Mall. FireSky will undergo an extensive renovation to the guestrooms and public spaces over the next 18 months. Classic Hotels & Resorts will manage the hotel. Bill Murney of HREC Investment Advisors’ Phoenix office represented the seller, KHP Capital Partners, in this transaction.

February 19, 2016

Arizona Retail Western

Scooter’s Coffee to Open in Phoenix

by Nellie Day February 16, 2016

PHOENIX — Scooter’s Coffee has announced plans to add new coffee shops to four states, which includes Phoenix, Ariz. Other states receiving outposts include Florida, Oklahoma and Arkansas. Once these locations are open, Scooter’s will have more than 130 stores in 14 states. It plans to open 25 new locations in the first half of 2016.

February 16, 2016

Arizona Office Western

NorthMarq Arranges $93M Refinancing for Office Park in Chandler

by Nellie Day February 10, 2016

CHANDLER, ARIZ. — NorthMarq Capital has arranged a $93 million refinancing for a 523,673-square-foot office park in Chandler. The Class A park is located at the intersection of highways 101 and 202. The property contains six office buildings within a master-planned business park that also features office, hospitality and restaurant properties. The office park is fully leased to tenants like Healthways, Infineon Technologies and Infusion Software. The loan features a 10-year term with three years interest-only payments, followed by a 30-year amortization schedule. Eric Flyckt of NorthMarq Capital’s San Diego office arranged the financing through the firm’s relationship with Citi Group. Douglas Allred Company owns the property.

February 10, 2016

Arizona Retail Western

Colliers International Arranges $9.7M Sale of Mountain Park Plaza in Phoenix

by Nellie Day February 9, 2016

PHOENIX — Colliers International has arranged the $9.7 million sale of Mountain Park Plaza, an 87,672-square-foot shopping center located in Phoenix. Mindy Korth and Kirk Kuller of Colliers represented the seller, Issaquah, Wash.-based Western America Commercial, in the transaction. The buyer was Fairfield, N.J.-based Lamar Cos. Tenants at the 95-percent-occupied center include anchor Fry’s Food and Drug, Nationwide Vision and Sally Beauty Supply. Three pads occupied by a Fry’s Food Stores fueling station, Taco Bell and Kidz Connextion Dental Center were not included in the sale.

February 9, 2016

Arizona Restaurant Retail Western

LGE Design Build Breaks Ground on Dierks Bentley’s Whiskey Row in Gilbert

by Nellie Day February 4, 2016

GILBERT, ARIZ. — LGE Design Build has broken ground on Dierks Bentley’s Whiskey Row, an 8,000-square-foot restaurant located in Gilbert. The property will feature a 10,000-square-foot patio, a large dance floor for country line dancing and an outdoor area for games including corn hole and Ping-Pong. The restaurant, set for completion in late 2016, will be constructed with reclaimed wood, steel, high ceilings and natural lighting.

February 4, 2016

Arizona Office Western

Cushman & Wakefield Arranges $8.5M Sale of Office for Conversion to Assisted Living

by Nellie Day January 28, 2016

PHOENIX — Cushman & Wakefield has arranged the sale of the former Giant Industries corporate headquarters office building in Phoenix for $8.5 million. United Insurance Co. of America sold the asset to Generations at Pinnacle Peak LLC, a Michigan-based investor that plans to convert the office property into an assisted living community. The two-story building was constructed in 1989 and contains approximately 66,283 square feet of space. The structure is situated on four acres of land. Larry Downey, vice chairman for Cushman & Wakefield, represented the seller in the transaction.

January 28, 2016

Arizona Office Western

Gabriel Partners Expands Office Space in Phoenix

by Nellie Day January 28, 2016

PHOENIX — Gabriel Partners has signed a long-term agreement for 19,202 square feet of office space in downtown Phoenix. The space is located at 40 North Central Ave. The technology-based, anti-money-laundering company will occupy the entire 22nd floor. Ryan Bartos and Matthew Coxhead of Savills Studley represented Gabriel Partners in the transaction. Pat Divine of Cushman and Wakefield represented the landlord.

January 28, 2016

Arizona Industrial Western

The Opus Group Launches Spec Industrial Project in Phoenix

by Nellie Day January 27, 2016

PHOENIX — The Opus Group has commenced construction on a 393,300-square-foot speculative warehouse and distribution building in Phoenix. The Opus Airport Industrial will be situated on 23 acres of land at the northeast corner of 7th and Elwood streets, near Phoenix Sky Harbor International Airport. Opus Airport Industrial will be the largest available industrial space in the submarket once it’s completed in September, according to the developer. It will also be able to accommodate single- or multi-tenant occupants looking for manufacturing, distribution and light assembly uses, among others. Opus Development Company LLC is developing the project. Opus Design Build LLC is the design-builder, while Opus AE Group LLC is the architect and structural engineer of record. Ware Malcomb is the design architect. CBRE’s John Werstler, Cooper Fratt and Jerry McCormick will market the property for lease. The team also executed the land sale between Opus and the seller, 7th Street Industrial LLC.

January 27, 2016

Arizona Office Western

CSW Buys Office, Warehouse Space in Arizona for $3.1M

by Nellie Day January 26, 2016

CHANDLER, ARIZ. — CSW Land Co Riggs has purchased a 25,234-square-foot office and warehouse property in Chandler for $3.1 million. The asset is located at 11237 E. Riggs Road. It was formerly home to telecommunications contractor Stewart Electric & Communications. CSW Contractors plans to relocate to the space. CBRE’s John Werstler represented the buyer. Gail Brown of GPE represented Stewart Electric.

January 26, 2016

Arizona Industrial Western

WLA Realty Group Acquires Roosevelt Business Park in Phoenix for $14.9M

by Nellie Day January 25, 2016

PHOENIX — WLA Realty Group has purchased Roosevelt Business Park, a 223,257-square-foot industrial campus in Phoenix, for $14.9 million. The park is located at 7150 W. Roosevelt St. It was 75 percent leased at the time of sale. Gary Anderson, Paul Boyle, Rick Danis and Mike Gilbert of Cushman & Wakefield executed the transaction. The seller was Pearlman Property Management. The Cushman & Wakefield team was also retained to lease the business park.

January 25, 2016

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