THE VIZZDA WEEKLY
November 7th, 2016
Last week in Phoenix, Vizzda tracked $274,950,572 in commercial real estate transactions
including 55 sales and 24 new projects. Below are Vizzda's top reports of the week.
PLANNING & ZONING
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New Movie Theater and Retail Space Proposed for Development in Gilbert
On November 2nd, The Gilbert Planning Commission introduced a Minor General Plan Amendment for the development of a mixed-use project consisting of three 2-story offices totaling 190,000 square feet, a 42,000 square foot cinema and 32,580 square feet of retail space on vacant land totaling 32.8 acres.
(1 of 24 planning & zoning events last week)
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LAND
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Vacant Land in Queen Creek Purchased for $2.12M
On October 31st, NexMetro Communities purchased 8.87 acres of vacant residential land from Willis Properties for $2,124,959. This property is part of Avilla Victoria at Queen Creek Community and is proposed for the development of an additional 225-lot master planned community.
(1 of 12 land sales last week)
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OFFICE
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Great American Office Tower in Phoenix Purchased for $49M
On November 3rd, DPC Companies purchased a sixteen-story office tower totaling 378,215 square feet from EverWest Real Estate for $49,000,000 with $9,900,000 down and $39,100,000 in new funding with Washington Federal.
(1 of 10 office sales last week)
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MULTIFAMILY
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312-Unit Apartment Complex in Surprise Purchased for $40.6M
On October 28th, Millburn and Company purchased 13 apartment buildings on 16.33 acres from Treger Financial for $40,600,000 with $6,600,000 down and $34,000,000 in new funding with Berkadia Commercial Mortgage.
(1 of 6 multifamily sales last week)
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INDUSTRIAL
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Cold Storage Warehouse in Phoenix Purchased for $16.325M
On October 28th, Performance Food Group purchased a 149,852 square foot, fully fenced and refidgerated warehouse from AmeriCold Logistics for $16,325,000 with $500,000 down.
(1 of 8 industrial sales last week)
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RETAIL
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Chinese Cultural Center in Phoenix Purchased for $10M
On November 1st, Angelo Gordon & Company purchased the 160,667 square foot retail center from BNU Corporation for $10,000,000.
(1 of 19 retail sales last week)
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