THE VIZZDA WEEKLY
November 28th, 2016
Last week in Phoenix, Vizzda tracked $340,072,205 in commercial real estate transactions
including 36 sales and 2 new projects. Below are Vizzda's top reports of the week.
PLANNING & ZONING
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New Restaurant to Replace Former Bank Branch in Scottsdale
On November 18th, The City of Scottsdale introduced a site plan for the development of a 3,146 square foot fast food restaurant with a 410 square foot patio and drive-thru.
(1 of 2 planning & zoning events last week)
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LAND
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Land in Mesa Proposed for Apartments Purchased for $6.5M
On November 22nd, Housing Trust Group purchased 9.61 acres of vacant residential land in Mesa from Orli Teitelbaum for $6,500,000 with a $47,159,800 construction debt with Walker & Dunlop.
(1 of 7 land sales last week)
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OFFICE
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Multi-Tenant Medical Office in Gilbert Purchased for $4M
On November 22nd, Lakeview Village Corporation purchased one 3-story multi-tenant building totaling 54,986 square feet from Owens Financial Group for $4,000,000.
(1 of 3 office sales last week)
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MULTIFAMILY
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Apartment Complex in Chandler Purchased for $71.5M
On November 21st, Alliance Bernstein and U.S Real Estate Partners purchased 512 apartments units on 30 acres from Private Portfolio Group for $71,500,000 with $20,605,000 down and $50,895,000 in funding with Freddie Mac, maturing December 1st, 2023.
(1 of 8 multifamily sales last week)
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INDUSTRIAL
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Industrial Park in Tolleson Purchased for $82M
On November 18th, Blackstone Group purchased three properties on 66 acres from LBA Realty in three separate transactions totaling $107,183,874 with $112,000,000 in assumed debt with Prudential Insurance Company of America and MetLife.
(1 of 7 industrial sales last week)
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RETAIL
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Multi-Tenant Retail in Glendale Purchased for $11.6M
On November 18th, West Valley Properties purchased four multi-tenant buildings on 6.47 acres from Richard Heinz for $11,600,000 with $7,600,000 in assumed debt with Thrivent Financial for Lutherans.
(1 of 11 retail sales last week)
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