Commercial Real Estate & Business News – November 16, 2015

Grand Canyon Education Inc. is planning $400M worth of construction projects to expand its Grand Canyon University campus in Phoenix over the next four years. About half of that will be spent over the next couple of years, including the construction of a second engineering building, three new residence halls, another parking garage and a four-story office building to house student services and corporate executives… Read more »
When Silicon Valley tech company Gainsight Inc. decided to put its marketing headquarters in downtown Phoenix, it caught a lot of people by surprise. As Gainsight Vice President of Marketing Anthony Kennada explained, it was an easy decision for his company… Read more »
Over three and a half acres at the northeast corner of 3rd Street and Roosevelt (also known as “Roosevelt Row”) sold yesterday to Alliance Residential for a total of $11.2 million. The transaction comes after a long dispute over the property, which was home to buildings deemed historical in nature by various parties… Read more »
Atlanta-based Wood Partners has bought multiple parcels at Thomas Road and Third Street in Phoenix as part of a planned 4.2-acre apartment development. The new Alta Thomas project will total 225 units and will be four stories, according to officials from Wood and Menlo Group which helped broker the sale… Read more »
The two-story office at 5353 W Bell Road in Glendale which houses the operations center for CSAA Insurance Exchange transacted Tuesday for over $44 million. CSAA sold the building after over seven years of ownership. The sellers continue to lease the office 100% in a sale-leaseback agreement with the property’s new owners, GI Partners… Read more »