Here are the news articles you might find interesting today for commercial real estate and business:
Chase Sky Harbor Operations Center Sold for $53.5M CBRE Investors purchased the Chase Sky Harbor Operations Center in Phoenix, AZ for $53.5 million, or about $135 per square foot. The lease-hold property is fully leased to JP Morgan Chase through October 2027. Located at 1820 E. Sky Harbor Circle, the office building measures 396,179 square feet and was completed in 2003. Included on the parcel is a 1,301-car parking garage. View article…
One11Tower in downtown Phoenix on sale for $29M The One11Tower in downtown Phoenix has been listed for sale for $29.5 million. Colliers International in Phoenix obtained the listing from GE Capital Real Estate in San Francisco. “There’s no other building with this amount of space available for one user, (and) it’s the only office building for sale in downtown,” said Marcus Muirhead, associate vice president of Colliers who’s teamed up with Colliers Senior Vice President Charles Miscio and Vice President Greg McMillan on the listing. View article…
Goff and Lord of ARA Phoenix Negotiate $30.1M Sale of Paradise Valley Area Multifamily Property Atlanta-headquartered ARA announces the sale of Villa Encanto Apartment Homes located at 4315 East Thunderbird Road in Phoenix. Phoenix-based Principal, Brad Goff, and Senior Vice President, David Lord, represented the seller in the $30.1million transaction. Villa Encanto is a beautifully maintained garden-style 385-unit apartment community located in the North Paradise Valley submarket of Northeast Phoenix. View article…
PARADISE FOOTHILLS SELLS FOR $10.5M The 180-unit Paradise Foothills apartment community has sold to a company formed by El Dorado Holdings for $10.5 million. The 8.58-acre gated community was built in 1985 and priced below replacement cost. View article…
COMMERCIAL PROPERTIES INCORPORATED ANNOUNCES THE LEASE OF A 27,930 SF INDUSTRIAL BUILDING IN PEORIA, AZ Sky Zone, LLC, the creator of the World’s first all-trampoline walled playing court, just leased 27,930 SF of industrial space for $2,071,692. Sky Zone’s newest location is located in Cabot Commercial Center at 9040 W. Larkspur Drive Peoria, Arizona. View article…
Bar-S Foods moving to new Phoenix headquarters Bar-S Foods Co. has signed an 11-year lease for 35,000 square feet in the Camelback Corridor. Financial details were not disclosed. The company has been headquartered at 3838 N. Central Ave., just south of Indian School Road. The new site, where the food company will move at the end of the year, is at 5090 N. 40th St. View article…
Lowe’s closures spare Arizona stores Lowe’s Companies Inc. will close 20 under-performing stores nationwide. None are in Arizona. The home improvement retailer, based in Mooresville, N.C., shut down some of the stores over the weekend, with the rest set to be shuttered within a month. View article…
The Future of Drugstores: Operators Broaden Offerings to Capture Market Share This summer a new store opened in New York City that created more buzz than retail industry insiders had witnessed in quite a while. The store does not belong to a luxury apparel brand on swanky Madison Avenue, however. It’s a 22,000-square-foot drugstore in Manhattan’s Financial District. View article…
Multifamily Sector Shows Positive Movement While the homeownership rate falls, rental demand rises bringing rental rates up and apartment vacancies down – all of which has led Freddie Mac’s chief economist to label the multifamily sector “a positive signal for the U.S. housing industry.” View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…
5051 E Thomas Road – Former Dentist Office For Sale/Lease (Price Just Reduced) For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor (New to market) For a brochure, click here…
COMMUNITY:
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Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.