PHOENIX — Carlisle Cos. has leased 46,503 square feet at Kierland One, a 175,441-square-foot office building in Phoenix. The property is located at 16430 N. Scottsdale Road. The Fortune 1000 company is relocating its corporate headquarters from North Carolina to Arizona by year-end. CBRE’s Tom Adelson represented Carlisle. Jeff Hartland and Scott Boardman of Cushman & Wakefield represented the landlord, Hines, in this transaction.
SCOTTSDALE, ARIZ. — The Praedium Group has purchased the 264-unit Broadstone Lincoln apartment complex in Scottsdale for an undisclosed sum. The Class A community is located at 7100 E. Lincoln Drive. Broadstone Lincoln features a two-story fitness center and a resort-style pool with outdoor cabanas. It has also achieved LEED-Platinum certification. “Broadstone Lincoln is among the newest and highest-quality assets in Scottsdale,” says Asim Hamid, Praedium’s managing director. “Due to its proximity to advanced educational facilities and dynamic growth from technology and healthcare companies, Scottsdale continues to have exceptional employment drivers.” Notable employers in the area include Yelp, Groupon, McKesson, Zenefits, Scottsdale Healthcare, Weebly and CA Technologies. Broadstone Lincoln is situated less than three miles from downtown Scottsdale, near Scottsdale Fashion Square and SMoCA, the Scottsdale Museum of Contemporary Art. It is adjacent to the recently approved $2 billion Ritz-Carlton Paradise Valley project, which is scheduled for completion in 2018. The new Five Star Development project will feature a 200-room Ritz-Carlton hotel, 94 townhome-style villas and 45 single-family homes with access to Ritz-Carlton hotel services and amenities. The Praedium Group is a New York-based, privately held real estate investment firm that focuses on under-performing and undervalued assets throughout the United States. The firm executed the transaction …
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.
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.
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.
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.
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.
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.
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.
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.
