Arizona

Cypress West Partners Completes Construction of 22,000 SF Ocotillo Medical Collaborative in Queen Creek, Arizona

by Amy Works December 6, 2023

QUEEN CREEK, ARIZ. — Cypress West Partners has completed the construction of Ocotillo Medical Collaborative, a $10 million medical office building located at 223663 E. Domingo Road in Queen Creek. The 22,000-square-foot building is fully occupied by five tenants, including Action Behavior Centers, a leading applied behavior analysis therapy for autism provider in the area. According to Cypress West Partners, the building is the first off-campus, for-lease medical office building to come to market in Queen Creek. Prior to this development, Queen Creek’s only existing medical office buildings were two on-campus properties occupied by a health system.

December 6, 2023

Arizona Build-to-Rent Development Single-Family Rental Western

Saunders & Amos, MEB Management Near Completion of 194 Single-Family Rental Homes in Tucson, Arizona

by Amy Works December 5, 2023

TUCSON, ARIZ. — Saunders & Amos and its management partner MEB Management Services have begun pre-leasing at Casitas Catalina, a single-family rental development in Tucson. Slated to open in 2024, Casitas Catalina will offer 194 single-family rental homes in a mix of one-, two- and three-bedroom floorplans. The property features pre-installed fiber-optic Wi-Fi, covered parking and smart-home technology for each resident. Situated on 19 acres, the community also features an outdoor pool and spa. Move-ins for the $50 million project are slated to begin this month, with final construction extending through early 2024.

December 5, 2023

Arizona Development Multifamily Western

Habitat Metro Opens 102-Unit ECO MESA Multifamily Property in Arizona

by Amy Works December 5, 2023

MESA, ARIZ. — Habitat Metro has completed the development of ECO MESA, an apartment community located at 127 W. Pepper Place in Mesa. Willmeng Construction served as general contractor for the 102-unit property, which CCBG Architects designed. Situated in downtown Mesa, the infill community was developed on a former parking lot. The seven-story, 179,227-square-foot building features a mix of studio, one- and two-bedroom apartments. Onsite amenities include a 14,000-gallon heated swimming pool, a fully equipped lounge with a kitchen, game room, water-vapor fireplace and indoor/outdoor seating options. Additionally, the property features a sky deck with outdoor barbecue areas and a fitness center.

December 5, 2023

Arizona Development Industrial Western

DIV Industrial Buys Development Site in Goodyear, Arizona for 847,988 SF Sarival Business Park

by Amy Works December 5, 2023

GOODYEAR, ARIZ. — DIV Industrial has acquired 47.4 acres of land in the Phoenix suburb of Goodyear for the development of Sarival Business Park, a Class A industrial complex. The company purchased the land site from a private investor for an undisclosed price and completed rezoning and entitlements during escrow. At completion, the 847,988-square-foot park will feature five freestanding buildings ranging in size from 135,000 square feet to 235,000 square feet. Groundbreaking is slated for late first-quarter 2024, with completion scheduled for first-quarter 2025. Each building will provide 3,600 amps of power (expandable to 7,200 amps), two oversized grade-level doors, up to 34 dock-high doors and high-image speculative office space. Buildings 1, 2 and 3 will feature 32-foot clear heights, and Building 4 and 5 will feature 36-foot clear heights. All buildings will offer fully air-conditioned warehouse space, ESFR sprinklers and ample parking. Sarival Business Park will be located at the southeast corner of Sarival Avenue and MC-85.

December 5, 2023

Arizona Development Industrial Loans Western

BWE Arranges $29M in Construction Financing for Echo Park Industrial Project in Surprise, Arizona

by Amy Works December 1, 2023

SURPRISE, ARIZ. — BWE has arranged $29 million in first-mortgage construction financing for Echo Park @ P132, an industrial project in Surprise, approximately 20 miles northwest of Phoenix. Daniel Rosenberg and Logan Petersmeyer of BWE originated the loan for the borrower, Echo Real Estate Capital. A debt fund provided the capital. Totaling 183,000 square feet, Echo Park @ P132 will consist of four buildings ranging in size from 42,000 square feet to 48,000 square feet. The buildings will feature 2,500 square feet of speculative office space, 30-foot clear heights, dock-high doors, drive-in doors, LED lighting, secured concrete yards and 115 total parking spaces. Additionally, the buildings will be fully air conditioned.

December 1, 2023

Acquisitions Arizona Leasing Activity Office Western

Cushman & Wakefield Brokers $10.5M Sale-Leaseback of CP North America Headquarters Building in Prescott, Arizona

by Amy Works December 1, 2023

PRESCOTT, ARIZ. — Cushman & Wakefield has arranged the sale-leaseback of a single-tenant corporate headquarters building in Prescott, approximately 100 miles north pf Phoenix. Sewell Trust, a Montana-based private investor, acquired the asset from CP North America for $10.5 million. The seller, a high-tech defense company wholly owned by Israel-based Rafael Defense Systems, will lease back the 50,135-square-foot property, which is located at 2620 Deep Well Ranch Drive. The building features reflective store-front windows, roll-up and dock-high loading doors, and a large, fenced yard. Eric Wichterman and Mike Coover of Cushman & Wakefield’s Private Capital Group in Phoenix represented the seller in the deal.

December 1, 2023

Acquisitions Arizona Industrial Western

Stos Partners Acquires 49,513 SF Industrial Complex in Phoenix

by Amy Works November 29, 2023

PHOENIX — Stos Partners has purchased an industrial complex located on 3.3 acres at 620 N. 43rd Ave. in Phoenix. Auto Body Parts LLC sold the asset for $9 million, or $181.77 per square foot. The 49,513-square-foot property features 20- to 22-foot clear heights, eight dock-high doors, four drive-in, ground-level doors, 1,600 AMPS of 277/440 volt power and 4,000 square feet of office space. The property can accommodate a full-building user, a two-tenant user or three separate tenants ranging from 12,000 square feet to 49,513 square feet. Stos plans to implement a capital improvement program to stabilize and re-tenant the asset.

November 29, 2023

Arizona Development Industrial Loans Western

JLL Arranges $12M Construction Loan for ATLAS Germann Industrial Development in Gilbert, Arizona

by Amy Works November 28, 2023

GILBERT, ARIZ. — JLL Capital Markets has arranged $12 million in construction financing for ATLAS Germann, an industrial development in Gilbert. The borrowers are ATLAS and OakPoint. Jason Carlos, Jarrod Howard, Steve Larsen and Kyle Westfall of JLL Capital Markets secured the five-year, fixed-rate loan from a regional bank. Snack-food manufacturer Frito-Lay Inc., a subsidiary of PepsiCo, will fully occupy the 60,500-square-foot property that is situated on 8.2 acres.

November 28, 2023

Acquisitions Arizona Retail Western

Crow Holdings Buys 34,151 SF Shops at Sossaman Retail Center in Mesa, Arizona

by Amy Works November 27, 2023

MESA, ARIZ. — A joint venture that Crow Holdings Capital manages has purchased The Shops at Sossaman, a neighborhood shopping center in Mesa. Abington Emerson Investments sold the asset for $8.1 million. Built in 2002, The Shops at Sossaman features 34,151 square feet of retail space. At the time of sale, the property was fully occupied by a variety of tenants, including Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The asset is located at 7641 E. Guadalupe Road. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the deal.

November 27, 2023

Arizona Loans Retail Western

Gantry Arranges $7.8M Refinancing for Retail Center in Marana, Arizona

by Amy Works November 27, 2023

MARANA, ARIZ. — Gantry has secured a $7.8 million permanent loan to refinance 26,387 square feet of retail space within The Shoppes at Continental Ranch at 9110-9150 Silverbell Road in Marana, a suburb of Tucson. Tony Kaufmann and Alex Poulos of Gantry arranged the financing for the borrower, a California-based retail developer. The 10-year permanent loan features a fixed rate locked at application and a 30-year amortization schedule. The retail space includes an inline strip and four pad buildings. An independently owned Safeway grocery store shadow anchors the property. Current tenants include a mix of national and local dining, professional services and essential retailers.

November 27, 2023

Newer Posts

Older Posts