Tuesday, December 13, 2016

The Vizzda Weekly - Phoenix - December 12th, 2016

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THE VIZZDA WEEKLY
December 12th, 2016
 
 
Last week in Phoenix, Vizzda tracked $161,069,758 in commercial real estate transactions
including 59 sales and 25 new projects. Below are Vizzda's top reports of the week. 
 
 
 
 
PLANNING & ZONING 
 
 
Spotlight
106 New Single Family Homes Proposed for Development in Phoenix 
     
On December 7th, The Phoenix City Council introduced a Final Plat for a 106-lot, single family residential subdivision totaling 23.43 acres, as well as 6.1 acres dedicated to commercial development.          
(1 of 25 planning & zoning events last week)
 
LAND
 
 
Spotlight
Gilbert Land Proposed for New Charter School Purchased for $11.25M
 
On December 6th, American Leadership Academy purchased 42.7 acres of land from Gabel Investments Incorporated for $11,250,000. The property is proposed for the development of a 2-story American Leadership Charter School.          
     
(1 of 10 land sales last week)
 
 
 
 
OFFICE
 
 
Spotlight
Multi-Tenant Office in Phoenix Purchased for $2.06M 
    
On December 7th, Sunbelt Holdings purchased three multi-tenant buildings totaling 5,853 SF from Mike Oleskow and Russell Haan for $2,062,500.       
       
(1 of 9 office sales last week)
 
    
 
MULTIFAMILY
 
 
Spotlight
60-Unit Apartment Complex in Phoenix Purchased for $5.425M 
 
On December 2nd, Newcastle Realty Services purchased an apartment complex in Phoenix consisting of 60 units in six buildings on 2.2 acres from Momentum Brokers for $5,425,000 with $3,523,000 in new funding with Opus Bank, maturing December 1st, 2026.  
           
(1 of 8 multifamily sales last week)
 
 
 
INDUSTRIAL
 
 
Spotlight
Manufacturing Facility in Mesa Purchased for $3.85M 
 
On December 5th, Industrial Springs Company purchased a 58,900 square foot manufacturing facility that includes an office, fenced yard and grade doors, from Chris Sahm for $3,850,000 with $2,138,889 and $1,711,110 in new funding with Anchor Bank.         
        
(1 of 8 industrial sales last week)
 
RETAIL
 
 
Spotlight
 
Neighborhood Shopping Center in Avondale Purchased for $22.5M  
  
On December 5th, Phillips Edison & Company purchased a neighborhood shopping center consisting of three multi-tenant buildings on 17.43 acres from West Valley Properties for $22,500,000 with $14,530,000 in assumed CMBS debt with US Bank, serviced by Wells Fargo and LNR Partners.   
             
(1 of 24 retail sales last week)
 
 
 
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