TEMPE, AZ-Buyer Hardy Crossing LLC gets the Arizona Republic as a seven-year tenant in its investment acquisition, designed to get more return for its dollars than the 2% interest for sitting in the bank, says the deal's broker.
SCOTTSDALE, AZ-GTX/Paybyclick wanted and got a Scottsdale address in a five-year lease signed with Cavan Investment. Also key to the 4,851-SF decision was Raintree Corporate Center's underground parking.
CHANDLER, AZ-JRS Investments, a candy vendor, spends $2.95 million for 5.3 acres as a site for a distribution center. The Barefoot Beach Club, an investment group, spends almost $195,584 for 1.4 acres. SunAmerica is the seller.
PHOENIX-The BOMA chapter for Greater Phoenix is lobbying against regulation changes that, if enacted, could make construction and renovation cost prohibitive. Phoenix City Council is expected to vote within two months on the plan.
PHOENIX-Leroy McLaren gets the upper-level promotion for the oldest construction firm west of the Mississippi. The 30-year veteran will lead estimating and pre-construction services for the firm.
PHOENIX-National Union Fire Insurance is coming for the long term to the Phoenix CBD. The Pittsburgh company will take over the 18th and 19th floors at 2929 N. Central Ave., a Shorenstein Investments property.
PHOENIX-This year's Toby Award winners are the Brookstone Building, Wells Fargo Plaza, American Express Service Center, Integrated Medical Plaza and the previously announced, Two Renaissance Square.
AVONDALE, AZ-The complex, built in 1999, brings top dollar from a Seattle buyer with other multifamily holdings in metro Phoenix. The deal closes within three months of the Aventura going up for sale.
PHOENIX-Ridenour, Heinton, Harper & Kelhoffer will move in the coming weeks into 18,712 sf or the 33rd floor of the Bank One Building in the CBD. The firm exits Two Renaissance Square for a seven-year lease valued at nearly $2.3 million.
LITCHFIELD PARK, AZ-Remonov & Co. of Vail, CO acquire a fully occupied 25,709-sf medical office property in one of the region's fastest-growing suburbs. The seller will do a 1031 Exchange to acquire an apartment building.