TUCSON—Berkadia Commercial Mortgage LLC announces the sale of Zona Rio, located at 1001 West St. Mary's Road in Tucson. The seller was an entity of Capital Texas Properties of Austin. The buyer was Zona Rio Investors LLC of Newport Beach.
PHOENIX—Molly Busch has joined CBRE'S capital markets group in Phoenix. A senior associate, Busch will partner with vice president Andrew Fosberg. The duo focuses on investment sales with an emphasis in retail properties.
PHOENIX—In this week's Deal-Tracker, Marcus & Millichap announce the sale of Covered Wagon RV Park, 44 RV sites, two mobile home sites and an office built on 3.27 acres in Phoenix.
PHOENIX—Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease at Freeport Industrial Center, 5502 W. Buckeye Ave. Elontec willl consolidate its operations and relocate its corporate headquarters to the property. This lease brings the 103,400-square-foot Freeport Industrial Center to 100% occupancy.
PHOENIX—The NAIOP Arizona board of directors has unanimously opposes Prop 480, an item on the Nov. 4 general election ballot that asks Maricopa County voters to approve a $1.4 billion general obligation bond over 27 years for the Maricopa Integrated Health System.
PHOENIX–Wentworth Property Company and Northwood Investors purchased a 234,446-square-foot office project at 1665 W. Alameda Dr. The partners had the vision to see the unique potential in the property and purchased it for $13.83 million with plans to spend $20 to $25 million on redeveloping the project.
PHOENIX—Harvard Investments, Lincoln Property Company and American Traffic Solutions announce that ATS will be relocating over 600 employees to Waypoint, a new Class A office campus located in Mesa.
PHOENIX—DPC Development announces the completion of the interior and exterior renovation of Biltmore Commerce Center, a 260,000-square-foot, Class A office building at 3200 E. Camelback Rd.
PHOENIX—A leading auto aftermarket company has signed a 10-year-plus lease for 109,060 square feet at Canal Crossing Logistics Center at 5670 S. 32nd St. in Phoenix. The project is currently under construction.