TEMPE, AZ-The Arizona State University Foundation will occupy 50,000 sf while the remaining 70,000 sf will be leased to the university. Lincoln Property Co. is acting as the project developer for the five-story building, which breaks ground in July.
PHOENIX-Alliant Partner of Tampa Bay, FL and Orix Real Estate of Chicago start talks for half the tract and end up with the whole shebang for $10 million. A retail project replaces Marriott's plan for a Residence Inn and Springfield Suites.
SCOTTSDALE, AZ-Comed Medical Specialties taps a suite at 6210 E. Thomas Rd., a project of Anthem Scottsdale LP. The office lease carries a $59,598 price tag for the Scottsdale address with freeway access.
PHOENIX-Hall Financial Group says the deals should start to close in 90 to 120 days on a number of the 49 properties on the market. Hall isn't exiting the multifamily business, but it is collecting cash for an asset reallocation to a mezzanine and gap financing pool.
PHOENIX-Two properties, with 394 units, in Arizona and eight assets, with about 1,800 apartments, in New Mexico hit the market. For months, Hall Financial Group has been hiring teams to hawk its 1980s-acquired, class B complexes in the Southwest.
PHOENIX-Investors, many from California, are chasing acquisitions in the Valley as they seek high-quality retail, industrial and even office properties. The lack of supply of available product is forecast to keep sales slow in 2003.
TEMPE, AZ-Champion Wire & Cable takes 29,779 sf at 822 W. 22nd St., where finish-out is underway. The half acre of outside storage area is the swaying factor for a relocation within the business park.
PHOENIX-The deal took a year to find since the buyer limited the search to two square miles and set a spending limit. The 95%-occupied Missouri Gardens fit the bill for the "location sensitive" purchasers from Vancouver.
PHOENIX-Relizon sells a 104,400-sf industrial property along 45th Avenue as it boxes up for an early 2003 relocation to a smaller building. The new owner, though, has a roofing company waiting for the keys.
PHOENIX-A medical training and certification business takes 2,753 sf in the Good Sam Professional Building across the street from the Good Samaritan Hospital. The deal brings $17 per sf or $561,512 per year for the building owner.