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NewParkThree-Park-City-UT
AcquisitionsOfficeUtahWestern

Dakota Pacific Real Estate Sells Two Office Buildings in Park City, Utah

by Amy Works

PARK CITY, UTAH — Dakota Pacific Real Estate has completed the disposition of two office buildings in Park City’s Kimball Junction community. A local real estate investment firm and operator acquired the assets for an undisclosed price. Park City is a suburb located east of Salt Lake City. Totaling 122,000 square feet, the transaction includes NewPark One at 1441 Ute Blvd. and NewPark Three at 1389 Center Drive. Kip Paul, Michael King and JT Redd of Cushman & Wakefield represented the seller in the deal.

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1503-W-San-Pedro-St-Gilbert-AZ
AcquisitionsArizonaIndustrialWestern

Longpoint Realty Partners Purchases 68,790 SF Industrial Building in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Boston-based Longpoint Realty Partners has acquired a single-tenant industrial facility, located at 1503 W. San Pedro St. in Gilbert, from Stonelake Capital Partners for $17 million. Situated on 1.2 acres in the suburbs southeast of Phoenix, the 68,790-square-foot property was originally developed in the mid-1980s and underwent an extensive interior and exterior renovation in 2023. At the time of sale, the property was fully leased to a supplier of aftermarket aviation assets. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s private capital group in Phoenix represented the seller in the deal. Mike Haenel and Andy Markham of Cushman & Wakefield provided leasing advisory for the transaction.

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Casas-Adobes-Plaza-Tucson-AZ
AcquisitionsArizonaRetailWestern

First Washington Realty Sells Casas Adobes Plaza Shopping Center in Tucson, Arizona for $51M

by Amy Works

TUCSON, ARIZ. — First Washington Realty has completed the disposition of Casas Adobes Plaza, a shopping center located 7001-7139 N. Oracle Road in Tucson, to an undisclosed buyer for $51 million. Situated on 9.5 acres, the 92,300-square-foot Casas Adobes Plaza was originally built in 1953 and remodeled in 2014. At the time of sale, the retail center was 97 percent occupied by a variety of tenants including Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets Investment Advisory handled the transaction. Greg Brown and Jason Carlos of JLL Debt Advisory facilitated acquisition financing through a correspondent life insurance company for the buyer. Quin Madden of JLL assisted with the sale and financing.

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Phase1-Virgin-Industrial-Park-Glendale-AZ
ArizonaDevelopmentIndustrialWestern

IndiCap, Invesco Real Estate Complete 1 MSF Phase I of Virgin Industrial Park in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale. Totaling more than 1 million square feet, Virgin Industrial Park Phase I features Building A, a 564,320-square-foot, cross-dock facility; Building B, a 212,160-square-foot, rear-loading asset; and Building C, a 243,360-square-foot, rear-load space. All buildings offer divisibility options down to 75,000 square feet. Buildings feature 32- to 36-foot clear heights, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70-foot speed bays and fully secured concrete truck courts. Make-ready improvements include speculative office space, LED lighting, warehouse HVAC and mechanical pit levelers. The project team includes Graycor Construction Co. as general contractor and Deutsch Architecture as project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing of the property. At full build-out, Virgin Industrial Park will add 1.5 million square feet of industrial space spread across five Class A buildings to metro Phoenix’s Loop 303 Corridor.

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Dove-Valley-Logistics-Centre-II-Englewood-CO
AcquisitionsColoradoIndustrialWestern

BlueScope Properties Divests of 304,620 SF Dove Valley Logistics Centre II in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of Dove Valley Logistics Centre II, a Class A warehouse located at 7800 S. Fairplay St. in the Denver suburb of Englewood, to LBA Realty for an undisclosed price. Sean Devaney and Rob Key of JLL Investment Sales and Advisory represented the seller in the deal. Built in 2023, the 304,620-square-foot cross-dock warehouse offers 89 dock-high doors, 36-foot clear heights, 60-foot column spacing and ESFR sprinklers. Additionally, the property offers 6,700 square feet of office space, including an employee break area, wellness room, conference room and security station. At the time of sale, the asset was fully leased by an e-commerce giant.

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AcquisitionsArizonaIndustrialWestern

Cushman & Wakefield Brokers $9.5M Sale of Industrial Facility in Phoenix

by Amy Works

PHOENIX — Cushman & Wakefield has arranged the sale of an industrial property, located at 2424 S. 21st St. in Phoenix. The 40,930-square-foot asset traded for $9.5 million. The names of the seller and buyer were not disclosed. Cushman & Wakefield’s Phoenix Industrial Private Capital Group handled the transaction.

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AcquisitionsArizonaOfficeWestern

Arizona Diagnostic Pathology Associates Purchases 4,324 SF Office Space in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Arizona Diagnostic Pathology Associates has acquired an office space at Rillito Crossing Corporate Centre in Tucson from Rale Offices LLC for $1 million. The 4,324-square-foot office space is located at 3987 E. Paradise Falls Drive. Jason Shaltiel of Cushman & Wakefield | PICOR represented the buyer, while Georgina Plante of RISING Real Estate Services represented the seller in the deal.

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3-Hutton-Centre-Dr-Santa-Ana-CA
CaliforniaMarket ReportsOfficeWesternWestern Market Reports

How to Motivate Employees Back to the Office in California’s South Coast

by Jeff Shaw

— By Nellie Day — Employers all over the nation are looking for ways to bring employees back into the office. In many cases, it’s been a large ask, as employees have adapted to the work-from-home environment and its perceived perks.  One of the biggest strategies employers have undertaken is creating an enticing environment where employees want to be. This can include intriguing office spaces, useful amenities, opportunities for socializing and beautiful outdoor spaces. This strategy can go even further when local businesses and municipalities work together. Such is the case with South Coast Metro Alliance, a non-profit corporation of Orange County, Calif.-based property owners and major businesses that have a long-term investment in the area through ownership and/or long-term leases. The economic development organization, which encompasses north Costa Mesa and south Santa Ana, has worked to ensure employers are proud of the spaces they can offer their employees — and that, in turn, employees are excited to return to the office.  WREB spoke to Diane Pritchett, executive director of the South Coast Metro Alliance, to discuss the specific strategies employed by businesses and the South Coast Metro Alliance to reactive the local office environment. WREB: How has the introduction …

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Parc-Germann-Chandler-AZ
AcquisitionsArizonaIndustrialWestern

Libitzky Property Cos. Buys 224,471 SF Parc Germann Industrial Campus in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — Libitzky Property Cos. has acquired Parc Germann, a two-building industrial campus in the Phoenix suburb of Chandler, for an undisclosed price. Built in 2020, Parc Germann offers a total of 224,471 square feet of Class A industrial space that was 100 percent leased to three tenants at the time of acquisition. Situated on 16 acres, Parc Germann features a 92,261-square-foot building at 2215 E. Germann Road and a 132,210-square-foot warehouse at 2225 E. Germann Road. The buildings feature 28-foot clear heights and the campus offers 62 dock-high doors, 14 drive-in doors, 262 parking spaces and ideal ingress/egress. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield National Industrial Advisory Group – Mountain West represented the undisclosed seller in the disposition.

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Extended-Stay-America-Premier-Suites-Portland-North-OR
DevelopmentHospitalityOregonWestern

Extended Stay America Opens 146-Room Hotel in Portland, Oregon

by Amy Works

PORTLAND, ORE. — Extended Stay America has opened Extended Stay America Premier Suites Portland North in Portland. Trimark-University Housing IV developed the property, which Ark Hospitality will manage. Located at 1215 N. Hayden Meadows Drive, the three-story hotel offers 146 rooms with fully equipped kitchens featuring full-size refrigerators, microwaves, stovetops, cookware, utensils, dishes and a dedicated workspace. The property features complimentary Wi-Fi and breakfast, a fitness center and on-site guest laundry facilities.

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