This year marks the first of the oncoming “wave of CMBS maturities” for vintage 10-year loans originated from 2005 to 2007. More than $300 billion in loans are due to mature over the next three years, according to Trepp LLC, and nearly 30 percent of the maturing balance will come from loans backed by retail properties…Read more »
The Arizona Center development in downtown Phoenix could soon be up for sale. The 1.1 million-square-foot Van Buren Street project is not yet officially listed for sale but is expected to be on the market soon with Eastdll Secured handling the listing, according to officials familiar with the situation… Read more »
In a deal set to close at press time, VanTrust Real Estate LLC is expected to pay just under $23 million ($167.27 per foot) to buy a 137,069-square-foot office building at 444 N. 44th Street in Phoenix. The seller is LBA RIV-Company VII LLC, a company formed by LBA Realty four-story building, called Four Gateway, is fully leased to State Farm… Read more »
Whether it is buying empty buildings, developing speculative industrial and office space or vying for build-to-suit opportunities in the Valley, Liberty Property Trust is finding great success in the Phoenix market. Now that the company has secured national retailer Tuesday Morning Corp. to occupy a vacant, 593,600-square-foot distribution facility in southwest Phoenix, Liberty Property Trust is shifting gears and plans to develop a 200,000- to 240,000-square-foot industrial building in a nearby project called Liberty Logistics Center II. The structure will be built within a 73-acre parcel at Buckeye Road and 71st Avenue that is targeted for 1.5 million sq. ft. of industrial space… Read more »
The architects of a cutting-edge apartment development on Grand Avenue that transforms shipping containers into residential units could also bring the same type of project to another downtown parcel… Read more »