PHOENIX-North American Title will move in December to an upscale address in the Camelback Corridor. The firm has signed for 15,760 sf at the Biltmore Commerce Center in a five-year pact valued at $2 million over its life.
PHOENIX-The class A Concord Place has closed 8,400 sf in office deals for two law firms. Coming on board at the 133,300-sf building will be Attorney James J. Evert and the Eagle Burger Law Group.
TOLLESON, AZ-Centex Investment Co., based in Dallas, will break ground on a 20-acre site for a 285,000-sf build-to-suit for Western Container. The plastic bottle manufacturer has inked a 10-year lease for the Tolleson project.
TOLLESON, AZ-The fast-growing community of Tolleson triggers a $1.2-million buy for 10 acres so the school district can add another elementary school. Work is under way at the site bought in a CB Richard Ellis and Mohr Partners-negotiated deal.
CHANDLER, AZ-RREEF, acting on behalf of a San Francisco pension fund, has negotiated a $6.5-million sale of the 113,200-sf Southgate Commerce Park in Chandler. The submarket's land is at a premium so the buy is being touted as a "good value.
TOLLESON, AZ-Ryan Cos.' crews kick off work on a 140,000-sf distribution center for Graybar Electric, the third building pact sewn up for the electrical parts distributor. Graybar will join Cardinal Health, Costco and Western Molding in Ryan's 95-acre park.
TEMPE, AZ-A California investor is unfazed by Tempe's high negative absorption, plunging ahead with a $2-million closing for a 40,300-sf industrial building. The building is located in the Valley's second highest vacancy submarket.
PHOENIX-The 16-unit Colter Gardens Apartments snags a contract within hours of coming to market. The recent closing puts the Phoenix holding into the hands of a Chicago investment couple, who paid $700,000 for the property.
PHOENIX-Arcadia Villa Apartments LLC has realized more than $8.3 million for a 169-unit complex in the Camelback Corridor. A Minnesota investment firm's price bests in excess of $49,000 per unit.
PHOENIX-Phelps Dodge Tower, a $78-million CBD project, has reached the 69% pre-leased mark, signing two tenants to 78,000 sf of the 410,000-sf undertaking. Coming on board will be HUD and a law firm.