TEMPE, AZ-Transwestern Investment Co. bids adios to the metro Phoenix industrial market with a two-building sale at 1403 W. 10th Place. Scoring the win is Covington Green Associates of Scottsdale, putting up the closest offer to the ask.
PHOENIX-The San Francisco-based adviser takes the reins at North Loop 101 Business Center--19 acres with 167,776 sf in three buildings. The purchase comes with an extra eight acres, now earmarked for future office development.
TUCSON-A San Francisco partnership lays claim to 25,741 sf of inline space at Rincon Plaza. Ten days of marketing garners seven full-price offers on the recently renovated property, anchored by a corporate-owned Safeway grocery store.
PHOENIX-Armed with three-year leases, Joyce Van Lines of Oxford, CT and Phantom Inc. of Fort Lauderdale, FL take over industrial space at separate properties in the southwest corridor.
MESA, AZ-Orsett Properties pays $8.4 million for land in the path of Loop 202. Groundbreaking is contingent upon the freeway's completion so it most likely will be 2006 before any product debuts.
ANTHEM, AZ-A Danville, CA partnership turns over $5.6 million for a 15,300-sf store leased for 20 years to Walgreens after placing the purchase contract before the groundbreaking. The 1031 Exchange marks the buyers' first Arizona acquisition.
PHOENIX-With sights fixed on turnkey public and private mixed-use development, the Eastridge Cos. LLC of Phoenix joins Washington, DC-based Concord Cos. LLC. The newly formed Concord Eastridge Inc. will focus on build-to-suits north of $25 million.
PHOENIX-In the southwest submarket, Frontier Distributing takes a 9,210-sf building while Wheel Group likes up 10,177 sf in a multi-tenant building. The third deal puts Synscapes into 5,832 sf in Lincoln Commerce Park.
PHOENIX-A Minneapolis developer pays $2.1 million for a 114,000-sf tract at the crossroads of 7th Street and Baseline Road after waiting for a needed realignment to build out the site. Road construction and a 15,000-sf building should be ready to go by Sept. 1.
PHOENIX-A roofing contractor bids farewell to being a tenant, buying an 8,688-sf industrial building along East University Drive. The deal means more room with quick access to Interstate 17 for the Phoenix-based buyer.