Western

Scottsdale Office Building Sells for $4.2M

by Nellie Day June 26, 2015

SCOTTSDALE, ARIZ. – A 41,348-square-foot office building in Scottsdale has sold to EDU3 Ventures and SHOP LLC for $4.2 million. The Class B building is located at 13430 North Scottsdale Road. The structure, formerly known as Scottsdale Airpark Plaza, was built in 1985. It is being redesigned, renovated and renamed Habitat-X, or “Hab-X.” The buyers were represented by Marc Bonilla of Colliers’ Scottsdale office. Bonilla is also the president of EDU3 Ventures. The seller, Charles Meyer, was represented by Mike Milic and Tyler Bush of Colliers International.

June 26, 2015

Arizona Industrial Western

Tempe Distribution Building Sells for $2.1M

by Nellie Day June 26, 2015

TEMPE, ARIZ. – A 25,570-square-foot distribution building in Tempe has sold to Adler Realty Investments for $2.1 million. The building is located at 1401 S. Siesta Lane. It is about 50 percent leased. Kurt Saulnier and Ken McQueen of Lee & Associates represented both the buyer and seller, Dunbar Siesta, in this transaction.

June 26, 2015

Arizona Industrial Western

KH Chandler Buys Warehouse, Distribution Facility in Chandler for $4.1M

by Nellie Day June 26, 2015

CHANDLER, ARIZ. – KH Chandler has purchased a 168,750-square-foot warehouse/distribution property for $4.1 million. The facility is located at 6920 West Allison Road, within the Lone Butte Business and Industrial Park. It will be occupied by Total Solutions. DTZ’s Steve Mardian, Pete Klees and James Harper represented the seller, a financial institution, in this REO transaction.

June 26, 2015

California Retail Western

Avison Young Arranges $5.3M Sale of Historic Property in Santa Ana

by Nellie Day June 25, 2015

SANTA ANA, CALIF. — Avison Young has arranged the sale of the Pacific Building, an historic 16,274-square-foot, mixed-use property located in the Artist Village District of Santa Ana for $5.3 million. Dan Vittone and Alan Pekarcik of Avison Young, along with Gil Marrero of Voit Real Estate Services, represented the seller, Gumm Investments. Red Rock Capital Advisors LLC represented the buyer, Red Rock Management. The property is 100 percent leased to 11 tenants, including Chapter One, a metropolitan-style restaurant and bar, Downtown Sugar, a spa, and the Copper Door, a nightclub. The transaction closed at a capitalization rate of 6 percent.

June 25, 2015

California Office Western

Congress Management Associates Buys Medical Office Building in Pasadena

by Nellie Day June 25, 2015

PASADENA, CALIF. – Congress Management Associates has purchased a 17,632-square-foot medical office building in Pasadena for $10.7 million. The building is located at 39 Congress Street, next to the 625-bed Huntington Memorial Hospital. The facility was built in 1984. Some of the local physicians who acted as investors in this purchase plan to occupy a portion of the building in the near future. The building is currently 95 percent occupied. The buyer was represented by Michael Dettling of Avison Young. The seller, 39 Congress Partnership, was represented by Carver Associates.

June 25, 2015

Arizona Office Western

Western Refining Expands at Papago Buttes Corporate Plaza in Tempe

by Nellie Day June 25, 2015

TEMPE, ARIZ. – Western Refining has expanded its lease at Papago Buttes Corporate Plaza in Tempe. The independent refining and marketing company will lease an additional 17,723 square feet at the office plaza, which is located at 1250 W. Washington Street. The company will take occupancy of the additional space this summer. Western Refining was represented by Larry Downey of Cushman & Wakefield of Arizona. The landlord was represented by Tony Hepner and Janet Ehrlich of Metro Commercial.

June 25, 2015

California Office Western

Officia Imaging Leases Office Space in Los Angeles

by Nellie Day June 25, 2015

LOS ANGELES – Officia Imaging has signed a 63-month lease for 3,150 square feet of office space in Downtown Los Angeles. The space is located at 617 West Seventh Street. Officia Imaging is an office equipment and document management software solutions provider. The building is owned by the Swig Company.

June 25, 2015

Colorado Retail Western

Retail Strip Center in Pueblo Sells for $3M

by Nellie Day June 25, 2015

PUEBLO, COLO. – A 7,371-square-foot retail strip center in Pueblo has sold to a local private investor for $3 million. The center is located at 1425 US Highway 50 West. It is full occupied by McAlister’s Deli, Papa John’s Pizza and Open MRI. The McAlister’s Deli franchisee has agreed to enter into a new 15-year, triple-net master lease once this transaction has closed. It will contain two, 10-year renewal options. The buyer was represented by Drew Isaac and Howard Stark of Marcus & Millichap’s Denver office. The seller, a private investor, was represented by Barry Higgins and David Lee of the same firm.

June 25, 2015

Arizona Office Western

One North Central Office Tower in Phoenix Sells for $93.7M

by Nellie Day June 24, 2015

PHOENIX — Parallel Capital Partners has acquired One North Central, a 410,000-square-foot office tower in Phoenix, for $93.7 million. The Class A tower is located at 201 North Central Ave. Parallel Capital plans to invest more than $1.5 million to renovate and upgrade the property. This will include lobby modernizations, common-area upgrades, a new tenant lounge and spec suites. The tower was originally built in 2001. It has LEED-Silver certification. One North Central is currently 95 percent leased. Notable tenants include Ryley, Carlock and Applewhite, Arizona Summit Law School, Comerica Bank and the Bureau of Land Management. Parallel represented itself in the transaction. The seller was represented by Eastdil Secured. Parallel currently maintains a portfolio of 1.2 million square feet of office and retail space in Phoenix, including the City Square and Midtown regions.

June 24, 2015

Colorado Loans Retail Western

HFF Arranges $89.5M Construction Loan for A Block @ Union Station

by Nellie Day June 24, 2015

DENVER — Holliday Fenoglio Fowler L.P. (HFF) has arranged an $89.5 million construction loan for A Block @ Union Station, a 310,055-square-foot, mixed-use development in Denver’s Union Station Neighborhood. Continuum Partners LLC worked with HFF to arrange the four-year construction loan with Wells Fargo and CrossHarbor Capital Partners. Continuum also raised $14.5 million in equity from more than 20 investors in addition to contributing land to the project, which will contain hotel, office and retail space. New construction will include a 12-story, 200-room hotel managed by Kimpton; a five-story, 45,458-square-foot office building along with approximately 13,000 square feet of retail/restaurant space; and a 197-space subterranean parking garage with 100 spaces dedicated to public parking. Both properties will contain ground floor retail, with Bank of America already under lease for 3,496 square feet of space. Eric Tupler and Leon McBroom of HFF led the debt placement team in the transaction.

June 24, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
18