PHOENIX-Two San Francisco investors cite location as the motivating factor behind the deal for the 11-unit, East Phoenix apartment building. The 8,000-sf complex, built in 1960, reels in $430 to $550 per month for units ranging from 575 sf to 850 sf.
SCOTTSDALE, AZ-Gyro Engineering Corp. of California lays out about $8.2 million for the Evans Business Center, a 47,159-sf office building with 29 tenants. The buyer, with 1031 Exchange capital, assumes a $4.5-million, 20-year loan to make the close.
MESA, AZ-The shoe retailer pens a 10-year lease with a $740,000 value for the Falcon Gateway community center, joining a Wal-Mart Supercenter and Staples. The 3,000-sf store will open doors later this month.
MESA, AZ-Axia College crafts a five-year lease with a $1.4-million value for 12,524 sf in the Mesa Corporate Center. The Apollo Group subsidiary's inaugural location brings the class A office project up to 90% occupancy.
PHOENIX-The upscale multifamily property sells for $33.5 million to California-based SSR Realty Advisors near the desirable Camelback Corridor. SSR sees long-term dividends in the 360-unit development, renamed Reflections on Camelback.
PHOENIX-A California private investor buys the 138-unit Amber Ridge for $5.6 million to mark the asset's second sale in a year, Amber Ridge exemplifies the type of mid-1980s multifamily product that investors are seeking in the metro.
PHOENIX-A Phoenix investor closes on the $2.4-million purchase with proceeds from a 1031 Exchange. CSK Auto, Checker's parent company, recently began selling properties with long-term leases to help finance expansion efforts.
TEMPE, AZ-Location proves vital in the company's lease of 4,057 sf in the Meridian office building in West Tempe. The home financing firm's new space is directly adjacent to US Highway 60 and offers close proximity to Interstate 10.
PHOENIX-Extreme Integration signs a $2.4-million purchase agreement for a 21,120-sf building on four acres at 4657 E. Cotton Gin Loop. The firm is getting ready to for a doubling of the operation over the coming 18 months.
MESA, AZ-Iron Eagle Motorcycles signs a three-year lease, valued at $175,000 over the term, for a stand-alone facility in the Broadwood Business Centre. The deal provides showroom and manufacturing space for the custom motorcycle maker.