PEORIA, AZ-Western States Development of Fort Collins, CO, renews its interest in the Valley, purchasing eight acres to develop a 78,000-sf office condo project. The eight-building Stonegate Office Park breaks ground in June.
SUGAR LAND, TX-The joint venture obtains a three-year loan for 70% of the cost to build two 125,000-sf medical office buildings in Sugar Land and Katy. Memorial Hermann will occupy about 25% of each building and the rest is up for grabs.
SUGAR LAND, TX-The joint venture obtains a three-year loan for 70% of the cost to build two 125,000-sf medical office buildings in Sugar Land and Katy. Memorial Hermann will occupy about 25% of each building and the rest is up for grabs.
TEMPE, AZ-The Marquis Business Park building passes to a tenant, Chips Unlimited Inc. for $2.9 million. The firm, which occupies 13,750 sf, gets a 1970s-era building on 2.5 acres and a roster of local tenants with medium-term leases.
PHOENIX-Access for Disabled Americans lays down $6.5 million for Ocotillo Apartments, a class C complex with a 93% occupancy and a highly visible location in north central Phoenix.
HOUSTON-Arnoni Aviation Ltd. Inks a long-term pact for 25,200 sf of industrial space, an expansion of 40% from its existing facility. The airplane parts distributor plans a move this month into a now fully leased, 100,000-sf building in northwest Houston.
LAS VEGAS-Hall of Fame athlete and entrepreneur Jackie Robinson will head up the expansion of HipHopSodaShops in Sin City. He and New York City-based H3Enterprises Inc. are planning up to 30 in the next three years. The chain offers healthy fast food served with Hip Hop music, memorabilia and merchandise. "We chose Las Vegas as our second market because it's a place where Hip Hop is growing," says Brian Peters, president and co-founder of H3Enterprises. "There's a big opportunity in Vegas that hasn't been tapped." The chain currently has stores in Florida, Arizona, the New York Tri-State Area and Washington D.C. metro area.
HOUSTON-In its first move outside Colorado, Catalina Development Co. starts work on the 336-unit Lighthouse at Willowbrook Mall, being situated on 30 acres in the northwest submarket. The $24.8-million project will deliver in spring 2006.
HOUSTON-In its first move outside Colorado, Catalina Development Co. starts work on the 336-unit Lighthouse at Willowbrook Mall, being situated on 30 acres in the northwest submarket. The $24.8-million project will deliver in spring 2006.
PHOENIX-The Solanna Group, planning to build out 90 acres of tribal land, taps Fordon Partners International to map out a one-million-sf, mixed-use plan. Roughly 40 acres are earmarked for two hotels and the balance will be filled with office and retail space.
