HOUSTON-Ashforth Paradigm Capital Advisors, marking its first buy in the region, closes an off-market deal with the Cirrus Group. The new owner, eyeing the upside in a 77% vacancy, hires Colliers International to lease the class A office building.
SCOTTSDALE, AZ-Sun West Communities outgrows a leased location and trades it in for a 5,629-sf office building at 8245 N. 85th Way. The homebuilder pays $1.3 million to Calvis Wyant Customer Homes for the 22-year-old building.
PHOENIX-Lauth Property Group of Indianapolis has fine-tuned a 260,000-sf development plan for a 17-acre parcel in the Sky Harbor submarket. The 120,000-sf first phase of Washington Airport Center breaks ground in March.
HOUSTON-Dennis Holdings Inc. buys the duet, totaling 47,000 sf, within 90 days of Lennar Partners' foreclosing on them. The owner gets one fully leased building and a 35,000-sf vacant one in one of his favorite submarkets.
HOUSTON-After foreclosing on Arena Place nearly three years ago, Miami-based Lennar Partners sells the two-building project to locally based Arena Group LP,which plans to sink more than $2 million into the 19-story twin office towers.
PHOENIX-A local investment partnership picks up the one-time leading grocery supplier's warehouse at 624 S. 25th Ave. from Guaranty Bank of Dallas. The warehouse, with 200,000 sf of cooler and freezer space, has been dark nearly two years.
PHOENIX-The La Mesa couple trades out of several residential condominiums in the Golden State and makes a first buy in Arizona, paying $1.7 million for the 14,215-sf Camel Central Strip Center.
PHOENIX-A 54,000-sf church finds a new owner in Church of the Nations, which obtains a bond from GoldStar Trust Co. to pay $5.4 million for the structure after being turned down repeatedly for conventional financing.
HOUSTON-Skyline Deli lands 3,000 sf of first-floor space in the 33-story tower, a single opening that was hotly chased by restaurateurs since it's the only opening of its type in the building. The deli will open in April.