PHOENIX-A San Diego real estate developer shows no signs of slowing development of the Cotton Center. The Douglas Allred Co. purchases an additional 22 acres on the property for $8.2 million for construction of proposed flex and office buildings.
TEMPE, AZ-A door, cabinet and window distributor inks a five-year lease worth $415,000 for 12,056 sf in Tempe's Broadway Industrial Park. The deal lands the company closer to the center of its Valley customer base.
SCOTTSDALE, AZ-Interwest Distributing signs a seven-year, $3.099 million lease for 48,111 sf in a Scottsdale Airpark stand-alone building. The late-1990s distribution building will serve as the company's new headquarters and bring it closer to its main Scottsdale client base.
TUCSON, AZ-With the city's multifamily market finally enjoying an upswing following last year's flatline, a local investment group nets a 242-unit apartment community for $9.7 million. The exclusive off-market deal lands the buyer a long-term asset with a 95% occupancy.
SUN CITY, AZ-Del Webb's former headquarters locks in new leases tallying a 92% occupancy. The Bell Plaza Professional Buildings sign two leases with health-care service providers looking to expand in thepredominantly retirement community.
PHOENIX-A national auto parts supplier signs a five-year deal for 9,828 sf in First Commons at West 10. The lease is indicative of West Phoenix's strategic location for expanding companies that seek combination office-warehouse amenities.
TUCSON, AZ-With occupancy north of 95%, the 167-unit Sunrise Apartments in the Campbell Corridor corner $6.5 million from a first-time Arizona buyer, who's now planning to spend another $250,000 on renovations.
PHOENIX-Work is underway on a 3,900-sf facility for the 800-acre Sonoran Foothills master-planned development. The center will open in October and represents one of the first brick-and-mortar rising from the massive development.
PHOENIX-With distribution space hard to come by, the distributor of Trane air-conditioning systems, commits to office/warehouse space in Gilbert and Phoenix. The larger lease has a 10-year term with a payout of $3.5 million over the term.
TEMPE, AZ-With retail properties all over the metro showing solid occupancy rates, the 90,862-sf Valley Fair lands a new owner in a $10.4-million sale. The transaction closes escrow in 57 days.