BUCKEYE, AZ-Millennium Properties spends $10.1 million for the southeast corner of Johnson Road and Interstate 10 to develop a retail and industrial park. In the last 17 months, the high-rollers have amassed nearly 3,900 acres in the metro.
PHOENIX-E&V Investments, known for local industrial development, is testing the waters of the office market with a $9-million, class A project at the northwest corner of 19th Avenue and Lone Cactus Road in the Deer Valley submarket.
PHOENIX-States Logistics Services Inc., holding a Gatorade distribution contract, lights Mack Tolleson II, positioned beside the beverage company's manufacturing facility. The 15-month lease has a payout of nearly $1.5 million.
PEORIA, AZ-Mission Viejo, CA-based Mammoth Equities LLC acquires Arrowhead Commerce Center for $13.2 million from Dallas-based developer Jackson-Shaw Co. The three building complex totals 121,402 sf and is 95% leased.
GLENDALE, AZ-The Ellman Cos. breaks ground on Westgate City Center, a 223-acre undertaking with 500,000 sf of mixed uses. The first phase, named the Village, will open in October 2005 at the main entrance of Glendale Arena.
PHOENIX-Maskil Investment Co. of Southern California pays $3.2 million to Rreef for one of the last remaining large vacant industrial buildings in the Southwest Valley. Now, the task is to find a tenant for the 114,871-sf building at 200 S. 49th Ave.
PHOENIX-Belden Wire & Cable hangs a $25-million tag on the 1.5-million-sf industrial facility at 505 N. 51st. Ave. The St. Louis-based Belden recently sold the wire and cable division to a buyer, who took the business and passed on the 95 acres of local real estate.
PHOENIX-Summit Builders is off and running on an expansion to Bank One's 400,000-sf Sky Harbor Operations Center. The second phase will put a second floor onto 1820 E. Sky Harbor Circle South and add a 1,000-space parking garage.
SCOTTSDALE, AZ-After searching at least a year, Clear Creek Associates structures a $1.6-million, off-market deal for a 10,000-sf office building. With half of the building leased to executive suite tenants, the firm will set up shop in the 5,000-sf balance.
PHOENIX-Caremark Rx Inc. will pay out $1.7 million over the term for 18,315 sf of expansion space in Cotton Center I at 4025 Cotton Center Blvd. The pharmaceutical firm now occupies 60,000 sf in a neighboring office/warehouse.