MESA, AZ-Capps Van & Car Rental Inc. enters the Valley with the $2.2 -million buy of a 6,855-sf former dealership building on two acres at 1426 W. Broadway Rd. The Dallas-based company will open its first Arizona location Dec. 1.
HOUSTON-Foxconn Assembly will double its operating space in a relocation from Okanella Street to West Little York Road in a move to get closer to its primary customer, HP. The firm expects to employ 150 workers at the site.
TEMPE, AZ-The Petakovich Family Trust from Spring Valley, CA brings 1031 Exchange money from a SoCal multifamily sale to Arizona. The replacement properties, totaling 239 units, cost $11.6 million.
HOUSTON-In one of the largest self-storage transactions in the area, Dallas-based Storage Choice purchases a 334,000-sf, 85%-leased portfolio from developer and owner, 24-Hour Self Storage.
HOUSTON-DiMare Fresh Inc. commits to a five-year stay at 1415 West Loop, a rail-served facility with 47,000 sf of refrigerated space that will be used primarily to distribute bananas, tomatoes and avocadoes.
PHOENIX-In a whirlwind closing for an off-market transaction, Vesta Strategies buys Rose Garden Center, a two-building, 72,500-sf showroom industrial complex, as part of 1031 Exchange. First Industrial Realty Trust Inc. is the seller.
PHOENIX-Banc of America Community Development Corp. makes its first buy in the Valley--the 288-unit Paradise Club Apartments in the Palomino neighborhood. Bank of America provided $11.3 million acquisition and rehabilitation financing.
HOUSTON-In a major win for the Midtown office market, St. Luke's Episcopal Health System signs a long-term lease for 139,424 sf at 3100 Main St., now 100% leased. The hospital will consolidate several offices in the Texas Medical Center by year's end.
TEMPE, AZ-The San Diego-based Fairfield Residential puts up $13.2 million for the 247-unit Pinnacle Grove complex, with location as its chief selling point. Fairfield assumes existing bond financing for a 93%-leased complex with a 6% cap rate.