Commercial Real Estate & Business News – June 14, 2013

Denver Firm Buys Buckeye Warehouses for $44 Million

Two massive industrial buildings within the Buckeye Logistics Center have been scooped up by a Denver-based real estate investment trust for a whopping $44.3 million. Industrial Income Trust Inc. paid about $64.76 per square foot for the two buildings, which total 684,064 square feet. The seller was Principal Real Estate Investors. Built in 2008, the two industrial buildings are both fully leased to five tenants: HD Supply, Kellogg, Mor Furniture for Less, Philosophy and Victory Packaging… Read more

Canadian Firm Pays $20 Million for Phoenix Medical Office Building

A private investment firm from Canada recently paid $20.5 million for a nearly 82,000-square-foot medical office building in north Phoenix. That’s roughly $250 per square foot that Vancouver-based Talia Jevan Properties paid for the five-story building, which is located along 27th Avenue near the Interstate 17 and Loop 101 freeway intersection. The seller was Boston-based Winthrop Realty Trust… Read more

Scottsdale Meadows Apartments Sells for $20.63m

The Scottsdale Meadows Apartments sold yesterday for $20.63m or $122,797 per door with $5.158m down and $15,472,000 new agency debt originated by Walker and Dunlop Real Estate Finance of Bathesda, MD, and assigned to Freddie Mac (FHLMC). The seller was Equity Residential, represented by vice president Dede Berdelle, and the buyer was Aukum Management, represented by president Jason Fuchs… Read more

Mark-Taylor Buying Sites in Mesa and Chandler to Build 550 Apartments

Mark-Taylor Inc. in Scottsdale plans to develop roughly 550 apartments in two multi-family communities in the southeast Valley. The apartment developer is under contract to acquire parcels in Mesa and Chandler that together add to more than 30 acres… Read more

Wild Horse Pass Development Authority Ready to Churn on More than 2,700 Acres

The Wild Horse Pass Development Authority has more than 2,700 acres of land to develop surrounding Wild Horse Pass Hotel and Casino and while there is no definite long-term goals for the space, officials say they’re open to any development that would make the area a tourist destination… Read more