MESA, AZ-Classic Capital is pushing hard in the Valley, buying its second property this year and forging ahead on construction of 86,000 sf in three buildings. The $1.5-million closing is for an 11,000-sf medical office building in Mesa.
PHOENIX-The vehicle dealership, Auto Now, negotiates a $2.3-million deal for a larger site in its existing neighborhood. The 'dealers' row' site is at the intersection of 20th Street and Bell Road. The buyer will build on a former used car sales lot.
PHOENIX-Local investors Robert Porter and Earl Ricker spend $39,062 per unit for the 32-unit Cambridge Estates in Phoenix's northern submarket. Seller Delmar Morgan of Long Beach, CA owned the complex for a decade.
CASA GRANDE, AZ-Fiesta Grande RV Resort is the seventh park in the state for buyer Diversified Investments of Bethesda, MD. The price hinged upon the spot, with 581 spaces drawing $7.5 million and 186 raking in about $1.9 million for the LP seller.
PHOENIX-Kitchell Contractors' Mexican subsidiary wraps up a one million-sf first phase for a maquiladora in Baja California and starts overseeing a second phase. The project is for a Thomson multimedia TV picture tube production plant.
MESA, AZ-Michael B. Furst gets about $1.9 million for the 22,600-sf Apache Greenfield along Main Street in Mesa. Scottsdale-based private investor, Ron Barnes, is the new owner in the deal structured by Marcus & Millichap and RBI of Phoenix.
TEMPE, AZ-The ribbon cutting of the 320,000-sf Brickyard on Mill looms right around the corner. Steady leasing has three buildings 70% occupied in the retail and office components while the 83 loft-condos sold in weeks.
PHOENIX-Coldwell Banker Metro's appointment of Donald F. Brigham to the post of president is only one of a series of changes the local market has absorbed.