SCOTTSDALE-Reed Paper Co. is expanding in a relocation move into 16,120 sf at an office-warehouse property near Scottsdale Airpark. The five-year lease, valued at $1.1 million.
CHANDLER, AZ-Fairfield Residential has started yet another apartment complex in the Valley. The 288-unit Cantera in Chandler is being positioned on 20 acres, recently bought for more than $2 million.
PHOENIX-The NBA's Alton Lister has scouts out in the East Valley, a target area for the first of several Wingstop Restaurants. Lister has secured a development pact with the Dallas-based chain for his Arizona drive.
GLENDALE, AZ-Scottsdale investors Jeff and Kathy Flores have bought their fourth apartment complex in a year. This sale brings about $1.3 million for seller Doug Vaughn of Paradise Valley. The newest holding is the 40-unit Glenwood Apartments.
GILBERT, AZ-Private investors from Scottsdale have closed a $2.9-million sale of an industrial property in Gilbert. Carl Howell is taking title to the 30,400-sf office-warehouse from Norm Shaw in a CB Richard Ellis-brokered deal.
PHOENIX-Come December, the Social Security Administration will be operating its teleservices center from a new Central Avenue office. The federal agency has sealed an 18,000-sf lease in the 15-story 2700 N. Central Ave. high-rise.
PHOENIX-Before the week's out, Kitchell Development crews will be pushing dirt on a $75-million business park near the airport. The delivery is timed to coincide with a predicted pickup in leasing activity.
PHOENIX-NZ Corp. is pushing ahead on a merger plan with California-based Lipid Sciences. The long-time Arizona and New Mexico land investor has been selling its assets for about a year as the strategy unfolds to become part of the medical tech field.
PHOENIX-The local AFL-CIO chapter is gearing up to move into an 11,800-sf building that it has just bought for $1 million. Also just closing are two leases by DAUM Commercial Real Estate Services' Phoenix office.
MESA-The Minnesota-based Mercury Investments Co. has closed on its third buy in nine months, putting 846 units in the Valley under the firm's control. The 206-unit Villages at Park Centre has brought $10 million for its California seller.