THE VIZZDA WEEKLY
December 27th, 2016
Last week in Phoenix, Vizzda tracked $581,232,749 in commercial real estate transactions
including 74 sales and 15 new projects. Below are Vizzda's top reports of the week.
PLANNING & ZONING
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New Residential Subdivision Proposed for Development in Mesa
On December 21st, The Mesa Planning Commission introduced a Site Plan Review for the development of a 50-lot residential subdivision on Power and Thomas Road.
(1 of 15 planning & zoning events last week)
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LAND
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Scottsdale Land Proposed for 684-Unit Multifamily Project Purchased for $36M
On December 22nd, iStar Financial and Meritage Homes purchased residential land in Scottsdale from iStar Financial for $36,000,000 with $9,000,000 down and $27,000,000 in new funding with iStar Financial.
(1 of 23 land sales last week)
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OFFICE
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Two-Story Office in Tempe Purchased for $15.15M
On December 22nd, Century National Insurance Company purchased two 2-story buildings totaling 105,000 square feet from DPC Companies for $15,150,000.
(1 of 9 office sales last week)
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MULTIFAMILY
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330-Unit Condominium Complex in Scottsdale Purchased for $51M
On December 22nd, MG Properties purchased 30 two-story buildings totaling 246,144 square feet from Rockwood Capital for $51,000,000 with $33,206,000 in new funding with Keybank.
(1 of 10 multifamily sales last week)
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INDUSTRIAL
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Safeway Distribution Center in Tempe Purchased for $40M
On December 16th, Harrison Properties purchased a 778,374 square foot distribution warehouse on 2.08 acres from Safeway, as a sale-leaseback for $40,000,000 with $17,950,000 down and $26,850,000 in new funding with BMO Harris Bank.
(1 of 12 industrial sales last week)
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RETAIL
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Neighborhood Shopping Center in Wickenburg Purchased for $6.05M
On December 19th, Sam Lamonica purchased one multi-tenant retail building totaling 61,637 square feet from Darrel Stadel for $6,050,000 with $4,046,000 in new funding with The Biltmore Bank of Arizona.
(1 of 20 retail sales last week)
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