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GLENDALE, AZ-The buyer, a family-owned investment group, gets a fully leased 19,141-sf office building, stable tenant roll and prime location along West Olive Avenue. The asset had been on the market about eight months.
PHOENIX-MEGA Life and Health is taking over 75,011 sf in the 138,000-sf Concorde Corporate Center in a 10-year lease. A company, bought earlier in the year, will be consolidating its offices into the single location and gaining some room in the process.
PHOENIX-The 104-unit Maryland Villas complex at 6333 N. 12th St. sells to a first-time Phoenix buyer from Hollywood, CA. A Marcus & Millichap broker meets the buyer at an investment seminar and later introduces him to the deal.
PHOENIX-York International lines up 29,556 sf in the recently completed first phase at the junction of Interstate 17 and 7th Avenue. It moves in Dec. 1 from a Tempe location. Air Tiger, coming from central Phoenix, leases 6,371 sf.
TEMPE, AZ-A California investment company will be courting medical users for its 17,500-sf acquisition at 404 W. Broadway Rd. The location near Tempe St. Luke's Hospital should translate into 100% occupancy, says the broker.
GLENDALE, AZ-The 88-unit complex's ownership changes from a California deed holder to a local one. The upside potential will be realized through some cosmetic changes and hands-on local ownership and management, says the broker.
PHOENIX-Brookwood Financial Partners closes on its first Phoenix deal this year, a 181,629-sf office building. The owner of three other Arizona properties plans to spend up to $100 million in the next 18 months in the state.
PHOENIX-The 483-unit Sunplace Apartments brings in $9.9 million for its Las Vegas seller, who is reinvesting proceeds from multifamily sales into its hotel properties. Bigelow's Desert Star is on the market for $11.9 million.
ALBUQUERQUE-Occupancy stands at 92.4% in a city with 16,825 units in 68 properties. It's a 0.6% drop from fourth quarter 2001 and 1.7% under last year's first quarter total. The slight decline could stall permitting, says RealFacts.
MESA, AZ-Officials are getting ready to unveil the newest changes to the 30,000-sf Desert Vista Medical Center. Crews have been working under a 180-day fast-track schedule. All is on target for the mid-April delivery.