Archive for the ‘Phoenix CRE’ Category

PHOENIX, Ariz.–(BUSINESS WIRE)–More than 400 relocation industry specialists from around the world gathered today at the JW Marriott Desert Ridge in Phoenix, Ariz., for The Prudential Forum, a three-day networking event hosted by Prudential Relocation, Inc., a Prudential Financial, Inc. [NYSE: PRU] business. This year’s program, themed We’re Invested in You, brings together relocation and real estate professionals, relocation clients and service providers to enhance communications between the different, interdependent groups and explore ideas for improving the service delivery process. Read the rest of this entry »

John McLean
Arizona Business Gazette

Flocchini Associates LLC/Van Wagner Family Partnership of Reno sold the Grove at Black Canyon office building at 11001 N. Black Canyon Freeway to NSD Holdings of La Jolla, Calif., for $18.9 million.

Brian Ackerman, Chris Toci, Ted Harrison and James Greaves of Cushman & Wakefield of Arizona Inc. negotiated the sale transaction for the four-story 95,653-square-foot building. The buildingis 96 percent leased by Cigna Healthcare of Arizona. Read the rest of this entry »

SAN DIEGO, CA — (MARKET WIRE) — January 12, 2007 — Equastone has announced the sale of Security Title Plaza (STP), a 12-story office building located at 3636 North Central Avenue in the North Downtown sub-market of Phoenix, Arizona. Alliance Commercial Partners purchased the building for $38 million. Investment entities affiliated with Equastone acquired the property for $14.75 million in October 2003. The sale price reflects a significant recovery in office building values in the North Downtown sub-market. Read the rest of this entry »

PHOENIX–(BUSINESS WIRE)–Binswanger is pleased to announce the recent appointment of Douglas S. Heller, Vice President. Mr. Heller will be performing brokerage services to the San Francisco Bay Area/Silicon Valley, Arizona and New Mexico from Binswanger’s new Phoenix, Arizona office.

Mr. Heller joins Binswanger from Colliers International, where he worked as part of their Corporate Solutions group. Before Colliers Mr. Heller Read the rest of this entry »

Nearly 1,000 Valley units bought in $103.1 mil deal

Yvette Armendariz
The Arizona Republic

Four Phoenix-area apartment properties with nearly 1,000 units sold for $103.1 million to a real estate partnership seeking to renovate the properties.

Phoenix-based Alliance Residential Co. partnered with Boston-based AEW Capital Management to pick up the four properties and 11 others in Tucson, Albuquerque and Las Vegas in a deal that closed in late December. Read the rest of this entry »

Erin Zlomek
The Arizona Republic

Maricopa County will auction off a 53-acre, triangle-shaped pocket of land near Grand Avenue and Loop 303 on Jan. 11. The appraised value, and lowest acceptable bid, is $6.4 million.

The parcel borders Sun City West to the south and east, Surprise to the west and Loop 303 to the north. It has potential for residential or other development, though nearby residents want to restrict its uses. Read the rest of this entry »

Sean Holstege
The Arizona Republic

Two years before the light-rail system opens, private investors are starting to pump more than $1 billion into new developments near the rail stations.

The investments promise to reshape key corners and neighborhoods along the 20-mile route, an infusion that is typical of light-rail systems but is occurring earlier in the Valley than in other cities. Read the rest of this entry »

Forecast for the Valley’s commercial properties is mixed but mostly sunny

Yvette Armendariz
The Arizona Republic

Most people whose livelihoods depend on knowing such things, expect commercial real estate in the Valley to have a very merry 2007.

The consensus is that rents in all sectors will grow, vacancies will remain low – even as many more buildings go up – and institutional investors will continue pouring money into the area. Read the rest of this entry »

John McLean
Arizona Business Gazette

The Ackerberg Group, on behalf of its Warner Crossings LLC investment, sold Warner Crossing, two office buildings at 8260-8312 S. Hardy Drive in Tempe, to International Capital Partners of Scottsdale for $23 million.

Mindy Korth, Barry Gabel and Mark Dancer of Trammell Crow Co. in Phoenix represented the seller. The buyer was self-represented in the purchase of these buildings totaling 137,484 square feet. Read the rest of this entry »

PHOENIX–(BUSINESS WIRE)–ILX Resorts Incorporated (AMEX:ILX) announced today the prospective payment of a quarterly dividend of $0.1175 per share. The dividend has a record date as of the close of business on December 29, 2006 and is payable on January 10, 2007 to shareholders of record. Shareholders electing participation before the payment date may reinvest their dividends in additional shares of common stock through the Dividend Reinvestment Plan originally Read the rest of this entry »