PHOENIX-Area brokers say a US-led war against Iraq isn't likely to stop investors from shopping the Phoenix metro's cache of stable properties. Key to the market is the 1031 investor, who will still need the tax write-off.
TEMPE, AZ-AAA Sign & Screen will turn on the lights in April in a 10,640-sf building that's sat empty for more than a year at 600 N. Scottsdale Rd. A lease valued at $302,000 over its term baits the relocation from West Phoenix.
PHOENIX-Opus West lands developer of the year and best build-to-suit honor from NAIOP, one of several organizations this quarter to toss the Phoenix-based corporation into the awards spotlight.
SCOTTSDALE, AZ-Arizona Business Online's owner is looking down the road when he can fulfill a dream of building his own headquarters. For now, he's settling into a new lease at the Scottsdale Executive Suites Office Park.
PHOENIX-Isokern of Arizona, awaiting completion of a build-to-suit project in Deer Valley, is settling into 2,244 sf in a 17-month signing for the temporary office and showroom. The temp location is 2122 W. Lone Cactus Dr.
AUSTIN-For the most part, the city was sold out for the five-day festival's 17th year, with about 4,000 room nights booked. The final tally still is being calculated, but preliminary numbers show the 17,000 attendees spent an average of $264 per day.
SCOTTSDALE, AZ-STS Investments, with 1031 Exchange money to spend, knew at first sight 8080 E. McDowell Rd. was the property it wanted for its next investment. The 100% occupancy carried the deal to closing.
CASA GRANDE, AZ-The 28,000-sf office building, considered the town's premier property, is sold to an Arizona City investment group that used proceeds from a 1031 Exchange of an RV asset to close the acquisition.
PHOENIX-Cypress Communications is inbound to the class A property after signing a three-year lease for 2,471 sf in a deal priced at $192,738 over its term. The telecommunications firm is relocating from midtown.
SCOTTSDALE, AZ-The specialty retailer will add 20 stores to its 64-location network, mostly in upscale mall locations. The expansion push starts with a premier buy in Florida as opening dates near for shops in Houston and Denver.