Commercial Real Estate & Business News – March 2, 2015

Apollo Headquarters Sells for $183M

The Apollo Group Headquarters campus is 100% leased to Apollo Group, Inc., one of the nations largest providers of higher education programs for working adults. It is comprised of three office buildings, one 10-story building at 267,962 square feet and two six-story buildings each comprised of 165,851 square feet, and two multi-level parking garage structures. The campus is home to approximately 2,850 executives and employees of Apollo Group, Inc… Read more »

MG Properties Buys Trillium Papago Apartments in $36.25 Million Deal

MG Properties Group had gone nine years between Valley multi-family investments when it purchased a Tempe apartment community last November. When the company closes the acquisition of a Phoenix apartment project on Feb. 26, MG Properties will have gone less than four months since its last multi-family investment in the Valley. In a deal that closed at press time, a limited partnership formed by MG Properties paid $36.25 million to acquire the 270-unit Trillium Papago apartments… Read more »

Flood of Home Sales May Indicate Millennials Diving In

More Millennials and boomerang buyers appear to be hopping off the fence and stepping into their own houses. Home sales across metro Phoenix are on track to jump more than 30 percent during the next few months, potentially signaling the restart of the area’s stalled housing recovery, according to a new report released Friday… Read more »

Market Trend: Phoenix Industrial Deliveries, Construction and Inventory

During the fourth quarter 2014, 14 Industrial buildings totaling 1,069,221 square feet were completed in the Phoenix market area. This compares to seven buildings totaling 677,658 square feet that were completed in the third quarter 2014. There were 3,986,684 square feet of Industrial space under construction at the end of the fourth quarter 2014… Read more »

WV to Get 200KSF Healthcare Campus

A four- or five-building healthcare campus will break ground in 2016 on the northwest corner of 99th and Glendale avenues in Glendale, next to St. Joseph?s Westgate Medical Center. Medical office buildings for lease and/or purchase, as well as build-to-suit opportunities, are available. The campus, which will total more than 200KSF build-to-suit structures… Read more »