Vizzda Weekly - week ending 12/11/15

Keeping you up-to-date with CRE deals in the Phoenix metro area
Team Vizzda would like to present Vizzda Weekly - our complimentary weekly recap of commercial real estate activity in Maricopa County. Every Monday we send out Vizzda Weekly with the number of events we reported on and cataloged along with some featured events from the previous week.
Keep in mind, this is just the tip of the iceberg. Vizzda provides in depth information for all commercial properties - Multifamily, Office, Industrial, Retail, Storage, Hospitality, Mobile Home, Senior Facilities, Golf, Hospitals, Land & Lots - in Maricopa County to our subscribers. ***VIZZDA NOW COVERS PINAL COUNTY*** Team Vizzda is pleased to announce the addition of Pinal County data to our exclusive information service. Please contact Karyn MacVean at (480) 924-2000 orkmacvean@vizzda.com for pricing and assistance.
For the week ending December 11, 2015 Last week, Vizzda researched 61 Sales events totaling $326,852,508 in transaction value. We also reported on and cataloged 4 Distressed Property notice, 28 Debt Recordings and23 Planning & Zoning events.
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What happened in LAND last week? Vizzda reported on and cataloged 18 Land Sales, 2 Notices for Trustee Sale and 4 Debt Recordings in Maricopa County.
	Featured Land Sale: ±39 Acres Land Sells for $5.2M in Peoria On 12/9/2015, the Empire Group sold ±39 acres of vacant residential land to Garret Walker Homes for $5.2M or $130,330 per acre ($32,962 per planned lot or $664 per planned FF); $7.9M construction loan from First Continental Investment Co. and $2.967M debt c/o Geddes and Company. The project, known as "Three Olive Park", is planned for 158 single family residential lots.   Vizzda subscribers - please click here for the full report.
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What happened in OFFICE last week? Vizzda reported on and cataloged 10 Office Sales, 1 Notice for Trustee Sale, 6 Debt Recordings and 2 proposed Office Planning & Zoning events in Maricopa County.
	Featured Office Sale: ±43K SF Office Property Sells for $6.6M in North Scottsdale Irgens Partners purchased the ±43K SF office property on 12/9/2015 from Waitt Company for $6.61M with $134K down and $5.85M debt with The Private Bank and Trust Company, maturing12/3/2018 (maturity may be extended to12/3/2020).The property consists of  one two-story multi-tenant "Class A" office building. The building was built in 1999 on 6.53 acres and zoned I-1. "Significant renovations underway" per lease flyer. 215 parking spaces or 5/1,000 SF. The sale includes 1.77 acres of vacant land. Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 9 Multifamily Sales, 7 Debt Recordings and 8 proposed Multifamily Planning & Zoning events in Maricopa County.
	Featured Multifamily Sale: West Glen Townhomes Sell for $2.75M in Phoenix A partnership between Red Rock Equities (Yotam Shochat), Oren Kolton, and Nir Naftali purchased the 38-unit apartment property on 12/9/2015 from Francis, Rodney, and Calum DeSouza for $2.75M ($72,368 per unit) with $1.475M down and $1.275M variable-interest debt with Bank 34. Per press release, property 100% leased at time of sale. The DeSouzas used to do business as Mentor Properties. Cal has also been working with ReNue Properties. The property consists of 16 buildings totaling 25,351 SF built in 1959 on 3.35 acres with City of Phoenix zoning R-3 and includes 1,394 SF single family residence.  Vizzda subscribers - please click here for the full report.
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What happened in RETAIL last week? Vizzda reported on and cataloged 15 Retail Sales, 1 Notice for Trustee Sale, 7 Debt Recordings and 3 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: ±25K SF Dollar Tree Sells for $1.65M in Phoenix The retail property known as "Dollar Tree #3723" was sold by Beal Bank 12/7/2015 for $1.65M ($66 per SF) with $650K down and $1M debt with Unison Bank. Buyer entity traces to Franklin & Susan Garfield and Aaron Lamstein and is care of Keith Mishkin (Cambridge Properties). The property consists of one single-story building built 1986 on 2.62 acres zoned PSC and is apart of "Shaw Butte Plaza" neighborhood shopping center.   Vizzda subscribers - please click here for the full report.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 7 Industrial Sales, 4 Debt Recordings and 3 proposed Industrial Planning & Zoning events in Maricopa County.
	Featured Industrial Sale: Roosevelt Business Park Sells for $14.9M in Phoenix WLA Investments (contact Jon S. Schisler) acquired the ±223K SF industrial property from Pearlman Properties (Zach Pearlman) on 12/8/2015 for $14.9M. There was no debt recorded with the sale. Per buyer press release: "...We are purchasing the Business Park with in-place rents that are 30% below current market levels and with 30% of the property that remains to be leased. The vacancy rate within the direct competitive set or similar size industrial units is less than 12% in a supply constrained market. Current rental rates are significantly below levels that would justify construction of competitive product anytime in the near future..." The property is a 38-office condo complex totaling 223,190 SF. 100% of the units sell in four-building (two 50,502 SF and two 61,093 SF) complex built 2006 on 26.647 gross acres zoned CP/GCP.  Subscribers - please click here for the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.