PHOENIX-The buyer of the 248-unit complex is a California-based investment group that's making its second acquisition in three months in Arizona. The 95%-occupied property brings in a per unit average of $825 per month.
SCOTTSDALE, AZ-MSC Life Insurance is coming on board for five years at the Galleria Corporate Center. The move-in is set for December into a 10,750-sf office in the 606,521-sf, mixed-use project.
PHOENIX-An Ohio buyer pays cash for a fully leased, 5,631-sf shopping center at the corner of 35th Avenue and Camelback Road. The buyer spun a 1031 Exchange from the sale of farmland to acquire the Banco Popular Retail Center.
SAN ANTONIO-The Iron Horse Valley Apartments along the high-traffic Loop 410 is scheduled to close Nov. 30, confirms a source close to the deal. The 8.23-acre property is assessed at $5.4 million.
PHOENIX-Summit Commercial Properties buys 417,000 sf of fully leased office buildings in Phoenix, Glendale and North Scottsdale. The triple sale is another step in Mack-Cali's divestiture west of the Mississippi.
SCOTTSDALE, AZ-Desert Troon Cos. takes the deed to the 180,011-sf Scottsdale Seville. The big-ticket deal closed in roughly three weeks because the buyer pays cash to a Japanese seller wanting to close out its Arizona holdings.
TEMPE, AZ-Aire Care will pay out $455,000 over the five-year term of the 14,545-sf lease, a deal that comes with a purchase option for the stand-alone structure at 1135 W. Geneva Dr. in the Broadway Business Park.
ANTHEM, AZ-Voit Development Co. is gearing up to start a second phase to Desert North Commerce Center as occupancy for what's standing pushes above 70%. The 50,000-sf building will rise on 4.5 acres.
SAN ANTONIO-The highly sought project management contract goes from demolition of a 50-year-old infectious disease hospital in San Antonio to delivery of its replacement. The team is ramping up for a two-year project.
AUSTIN-Progressive Rehab relocates and expands in a 4,500-sf lease that fills the 150,000-sf Shoal Creek Plaza for owner, Aberfeldy Ltd. The deal is cut by Kennedy-Wilson International and Stanberry Associates.