PHOENIX-The shopping center sells in back-to-back transactions that had an investment group buying the entire property and flipping a 112,513-sf Fry's Marketplace to Smith's Food & Drug for $13.2 million. The investors hold onto 29,750 sf of inline space.
PHOENIX-Building Partnership One pays $1.2 million for a 17,700-sf industrial facility, allowing the Chandler-based woodworking company to expand into the Phoenix submarket with 20 new employees.
PHOENIX-Buzz Oates and EJM Development will build out the Southwest Valley land with a spec industrial park after polishing off an acquisition of a rare infill site for bulk distribution warehouse and office product.
PHOENIX-A San Francisco investor pays about $1.3 million for the apartment complex in the central west submarket. The property's proximity to a Wal-Mart-anchored retail center should make repositioning a good prospect for boosting rents.
SCOTTSDALE, AZ-The Summit at Scottsdale lands three tenants for a two-year-old shopping center in busy high-end North Scottsdale trade market. The new deals carry a combined $1.1-million payout over the five-year terms.
SCOTTSDALE, AZ-In back-to-back transactions the North Scottsdale Gateway office building was bought, flipped at a $2.5-million profit and a lease signed by the seller to cap off a double escrow deal between United Insurance Co. and WKL LLC.
SCOTTSDALE, AZ-Land planning and development firms Hadley Design Group and Espirita Loci are ramping to move into the Scottsdale Financial Center, signing a five-year deal with a $400,000 pay-out and a downtown address.
TEMPE, AZ-Architectural Component Services signs a three-year lease for 10,202 sf, getting Rreef-owned space that just underwent a new build-out for walk-in capability. The new tenant gets a going-in rate of 43 cents per sf.
TUCSON-An investment group buys the 270-unit Tamarack Apartments for $7.6 million. Future growth is in the cards for the complex, which lies just within the border of the city's massive $800-million Rio Nuevo economic redevelopment project.
TEMPE, AZ-Aziz LLC purchases a two-building warehouse/showroom property in Tempe for about $2.1 million at the convergence of Loops 101 and 202. The deal gives the wholesale furniture and accessories business enviable frontage on Rio Salado Parkway.