PHOENIX-An Arizona investor sells two multifamily assets in Southern California and deploys the gain in Silktree Apartments, paying $3.5 million for an 86-unit, class B complex situated on the border of Scottsdale and Phoenix.
PHOENIX-A limited liability company from Seal Beach, CA, spends $3.3 million for the 44,351-sf Armored Mini Storage. The three-story, climate-controlled facility was 90% leased at sale time.
HOUSTON-With Best Buy Inc. in hand, Wallace/Halpin starts work on the West Road Collection as replacement retail for a vehicle dealership at Interstate 45 North and West Road. Sources peg the center's completed value at $25 million.
PHOENIX-The leaders of a seven-month-old commercial mortgage banking and investment firm turn to a former colleague at Churchill Mortgage of Arizona to lead the office. With the move, Timothy Storey turns in a first vice president's title for principal.
HOUSTON-The Dallas-based buyer, besting 10 others jockeying for the package, gets 1.3 million sf in 35 flex buildings, primarily in three submarkets. The 80%-leased package came to market with $73-million tag, but sells for considerably less.
PHOENIX-The San Francisco-based department store says it will close its store in Metrocenter, a 1.4-million-sf regional mall owned by Simon Property Group. The closing date for the 115,000-sf will be released next week.
PHOENIX-Coosemans Worldwide Inc., with 27 locations globally, signs a four-year lease for 9,488 sf at 2120 S. 7th Ave. in Lincoln Commerce Park in the Central Valley. The deal puts a quarter of a million dollars in Lincoln Property Co.'s pockets.
HOUSTON-Fleetwood Retail Corp. works out a lease for 29,178 sf of class B office space to relocate its regional headquarters from the Galleria area to the Greenspoint submarket. The move is scheduled for April.
CHANDLER, AZ-The 80,299-sf Chandler Pavilions II sells for $13.6 million in an off-market transaction to a Scottsdale investment group. The 100%-occuped center, sporting a marquee of national names, is backed by triple net leases that expire in 2017.