Phoenix Commercial Real Estate News From CoStar Group


    LKQ Corporation Preleases 109,000 SF in Phoenix
    LKQ Corporation, an automotive aftermarket company, has signed a 10-year, 109,060-square-foot industrial lease at 5670 S. 32nd St. in Phoenix, AZ. The proposed 155,351-square-foot industrial building will break ground in November and is scheduled to be delivered in February 2015 on 10 acres in the S. Airport South of Roeser Industrial submarket. When completed, it will feature 37 loading docks, 30-foot clear heights, six-inch floors, skylights...

    CoStar's People of Note (Sept. 14 - 20)
    It's time to update those contact managers with CoStar's People of Note, reporting news on significant new CRE hires and promotions. This week's issue includes the following markets: Northern New Jersey, Los Angeles, Seattle, Long Island, New York City, Westchester / Southern Connecticut, Houston, South Florida, Orlando, and Tampa / St. Petersburg. NORTHERN NEW JERSEY Sabre Group Rolls Out Expansion into NJ By Amy Shaw Auto Repair Facility Sells for $1.3M
    Rover Techs LLC acquired the freestanding retail building at 15455 N. 83rd Way in Scottsdale, AZ for $1.25 million, or about $195 per square foot, from Greulich's Automotive. The buyer is an owner-user who specializes in repairing and servicing Land Rovers. The single-story 6,400-square-foot auto garage was built in 2004 on 1.3 acres in the North Scottsdale Retail submarket of Maricopa County. Ed Beeh and Robbie Petty of SRS Real Estate...

    Watson Marketplace Sold for $22M
    Interstate Holdings acquired Watson Marketplace at 441-733 S. Watson Rd. in Buckeye, AZ from the center's developer, Scottsdale-based Desert Troon Companies, for $22 million, or about $244 per square foot. The sale represented a 1031 Exchange for the all-cash, San Diego-based buyer, and closed at a 6.8 percent CAP rate. The 90,000-square-foot shopping center sits on almost 10 acres in the South Buckeye Retail submarket of Maricopa County, 30 minutes...

    Investor Buys Southern Plaza
    Amargosa Palmdale Investments LLC purchased a portion of Southern Plaza at 6036 S. 7th Ave. in Phoenix, AZ from Park West Development for $11.9 million. Built in 2007, Southern Plaza totals 75,233 square feet and sits on 10.1 acres. The shopping center was 95.3 percent occupied by such tenants as Food City, Payless Shoes, Pizza Patron, and Rapido Tax. Ryan Schubert and Michael Hackett with Cassidy Turley represented the seller. The buyer...

    Market Trend: Select Top Five Phoenix Industrial Leases Signed in Q2 2014
    The select top industrial lease signed during the second quarter of 2014 in the Phoenix market was on W. Rio Salando Pky in the Tempe Northwest Industrial submarket. US Airways renewed its lease totaling more than 204,000 square feet there. CBRE represented the tenant and the landlord in the deal. HBI International leased 88,488 square feet at 3401 W. Papago St. in the SW South of Buckeye Road Industrial submarket. Cushman & Wakefield represented...

    La Ronde Centre Sells for $8M
    Barnet Dulaney Perkins Eye Center acquired the La Ronde Centre at 14600-14800 N. Del Webb Blvd. in Sun City, AZ for $8 million, or about $75 per square foot, from The Muller Company. The 106,503-square-foot property was built in 1972 on 10.9 acres in the Sun City Retail submarket of Maricopa County, at the northwest corner of W. Thunderbird Blvd. The asset was just 63 percent occupied, with two large vacant anchor spaces available for lease at...

    Paradise Foothills Apts Sell for $12.6M
    El Dorado Holdings, Inc. sold the 180-unit Paradise Foothills multifamily complex at 12231 N. 19th St. in Phoenix, AZ to Castle Rock Financial LLC for $12.55 million, or approximately $70,000 per unit. The 133,897-square-foot apartment community consists of one- and two-bedroom units in 15 buildings. Amenities include two pools, spa, laundry facilities, and walk-in closets. Paradise Foothills was built in 1985 in the Lookout Mountain Reserve...

    NorthMarq Capital Finances Seven Centers for Barclay Group
    NorthMarq Capital has arranged financing totaling $43 million on seven shopping centers located in Arizona and Texas. New York-based Citigroup Capital Markets provided the funding. James DuMars, senior vice president and managing director with NorthMarq's Phoenix office negotiated the financing for the borrower, Barclay Group, a national development firm with more than 100 centers in its portfolio. Over the years, DuMars has assisted Barclay...

  Logo
Jon Hammond, CCIM
Phone: 480-283-3740
Mobile: 480-283-3740
Fax: 866-239-9988
Email