Arizona

ACC Breaks Ground on $120M Live-Learn Facility at ASU

by Nellie Day November 10, 2015

TEMPE, ARIZ. — American Campus Communities has broken ground on its sixth student housing facility at Arizona State University in Tempe, a $120 million live-learn facility. Upon its opening in fall 2017, the facility will house 1,594 students enrolled in the Fulton Schools of Engineering. The property will feature E-Space, a 3,500-square-foot lab outfitted with resources that cater to the needs of Fulton Schools students. The dining facility also has been designed with Fulton Schools of Engineering students in mind. The facility is approximately 14,000 square feet, includes seating for 500 students, and features four food stations and a mixture of seating types, including counter seating, booth seating and tables. A tech lounge is located on the mezzanine level along with individual seating pods with views of the landscape and main level. The new residence hall will be located in the heart of campus on East University Drive, providing residents with the option to walk or bike to class. The property features amenities such as social and recreation lounges, an Academic Success Center, a cardio fitness room and several academic study spaces.

November 10, 2015

Arizona Retail Western

Cushman & Wakefield Arranges $14.5M Sale of Shopping Center near Phoenix

by Nellie Day November 9, 2015

LITCHFIELD PARK, ARIZ. — Cushman & Wakefield has arranged the $14.5 million sale of Camelback Crossing, a 94,156-square-foot, Bashas’-anchored shopping center in the Phoenix suburb of Litchfield Park. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, Nevada Holding Co. L.P., in the transaction. Madison Plaza 1 LLC, an entity formed by a California investor, purchased the 93.3 percent occupied center.

November 9, 2015

Arizona Office Western

Arizona School of Real Estate & Business Building Sells for $7.7M

by Nellie Day November 4, 2015

SCOTTSDALE, ARIZ. – A 17,711-square-foot facility in Scottsdale that houses the Arizona School of Real Estate & Business has sold to Arc Construction and MacDonald Development for $7.7 million. The school is located at 7142 E. 1st Street in the downtown region. The sale also includes an adjacent parking lot on 40,623 square feet of land. Bill Gray, the school’s original founder, was represented by Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate.

November 4, 2015

Arizona Office Western

BBB Buys McMurry Buildings in Phoenix for $4.3M

by Nellie Day November 4, 2015

PHOENIX – The Better Business Bureau (BBB) has purchased the McMurry Buildings in Phoenix for $4.3 million. The center is located at 1002-1010 E. Missouri Ave. It includes two office buildings with a total of 25,918 square feet. The space was previously occupied by McMurry/TMG, an online marketing, advertising and print publishing company. BBB was represented by Kevin Lange of Keyser. The seller, McMurry Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.

November 4, 2015

Arizona Multifamily Western

Security Properties, Intercontinental Real Estate Buy Pillar at Scottsdale

by Nellie Day November 3, 2015

SCOTTSDALE, ARIZ. — A joint venture between Security Properties and Intercontinental Real Estate has acquired the 539-unit Pillar at Scottsdale apartment community for $95.8M. The property is located at 17212 North Scottsdale Road in Scottsdale. The community was built in 1999. It is situated across from TPC Scottsdale, home of the PGA’s Waste Management Phoenix Open, as well as from the Fairmount Princess Resort. Pillar at Scottsdale was 96 percent occupied at the time of sale. The seller was Private Portfolio Group. The transaction was executed by CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.

November 3, 2015

Arizona Hospitality Western

Hotel Tucson City Center Inn Suites Sells for $9.6M

by Nellie Day November 2, 2015

TUCSON, ARIZ. — A private investor from Texas has purchased the 267-room Hotel Tucson City Center Inn Suites in Tucson for $9.6 million. The hotel is located at 475 North Granada Ave. in the city’s historic downtown Presidio Arts District. Lisa Estrada of Marcus & Millichap represented the buyer. James I. Meng and Jon R. Grantham of the same firm represented the seller, a publicly traded REIT.

November 2, 2015

Arizona Industrial Western

LKQ Corp. Leases 46,054 SF at Canal Crossing Logistics Center

by Nellie Day October 30, 2015

PHOENIX — LKQ Corp. has leased 46,054 square feet of additional space at Canal Crossing Logistics Center. The building is located at 5670 S. 32nd St. The company now occupies the entire 155,114-square-foot building. LKQ Corp. is an international provider of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks and recreational and performance vehicles. CBRE’s Mike Parker and Evan Koplan and Jacob Bobek of Avison Young represented LKQ. Jeff Conrad and Allen Lowe, principals with Lee & Associates represented the landlord, Bixby Land Co.

October 30, 2015

Arizona Conference Coverage Multifamily Seniors Housing Western

InterFace On-Campus Housing Kicks Off in Tempe Near Arizona State

by Nellie Day October 23, 2015

TEMPE, ARIZ. — The third annual InterFace On-Campus Housing conference began yesterday in Tempe at the Tempe Mission Palms hotel, near Arizona State University (ASU). Wednesday, more than 60 attendees toured four on-campus properties at ASU that American Campus Communities (ACC) developed or re-developed in a public-private partnership with the university. Vista Del Sol, which opened in 2008, features more than 1,800 beds and was developed by ACC, while Hassayampa Academic Village, which opened in 2006 and was developed by Machado and Silvetti + GouldEvans LLC, features more than 1,900 beds. Representatives from ACC and ASU, as well as construction firm Hardison Downey Construction, were on-hand to talk about the projects and answer questions. Thursday began with a breakfast and speed networking session, as well as the keynote speech by generational expert Michael Wood of 747 Group. Wood spoke about the upcoming Gen Z, what its members’ interests are, what they expect of authority and what they may prefer in housing after entering higher education. Sessions and panels continue today at the Tempe Mission Palms.

October 23, 2015

Arizona Industrial Western

BKM Capital Partners Buys Koll Cotton Center in Phoenix for $26M

by Nellie Day October 22, 2015

PHOENIX — BKM Capital Partners has purchased the Koll Cotton Center, a 225,435-square-foot industrial business park in Phoenix, for $26 million. The seven-building center is located one mile south of Phoenix Sky Harbor International Airport. It was 77 percent occupied at the time of sale. JLL’s Mark Detmer and Bo Mills represented the seller, Clarion Partners.

October 22, 2015

Arizona Office Western

Menlo Equities Buys Thistle Landing Office Park in Phoenix

by Nellie Day October 22, 2015

PHOENIX — An affiliate of Menlo Equities LLC has purchased the remaining three buildings of Thistle Landing office park in Phoenix for an undisclosed sum. The park is located at 4801, 4805 and 4811 E. Thistle Landing Drive. Thistle Landing includes four Class A office buildings. The park was built in 1998. Menlo had previously purchased the initial building. The park is fully leased to Fiserv Inc., United Healthcare, DISH Network and OptumRx. Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield represented the seller, Torchlight Investors LLC.

October 22, 2015

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