Last week in Phoenix, Vizzda tracked $151,553,772in commercial real estate transactionsincluding 44 sales and 6 newprojects. Below are Vizzda's top reports of the week.
PLANNING & ZONING
New Expansion Proposed for Development at Scottsdale Airpark
On January 18th, The City of Scottsdale introduced a Site Plan for the expansion of the of the Scottsdale Airpark to include a new aviation business center totaling 23,731 square feet and aircraft hangers totaling 66,938 square feet.
On January 13th, Gehan Homes purchased 8.94 acres of residential land in Sun City from The Empire Group for $1,525,689. The property is proposed for the development of 33 single family residential lots and three tracts.
Two-Story Multi-Tenant Office in Phoenix Purchased for $11.4M
On January 19th, George and Nancy Bogle purchased two 2-story office buildings and one 1-story office building totaling 112,668 square feet from Daryl Burton for $11,400,000 with $10,400,000 in cross-collateralized debt with Standard Insurance Company, maturing on February 1st, 2042.
160-Unit Apartment Complex in Glendale Purchased for $25.75M
On January 12th, Rivendell Global Real Estate purchased nine 2-story buildings and one 1-story clubhouse totaling 158,361 square feet from RK Properties for $25,750,000 with $18,200,000 in new funding with Equity Standard.
Phoenix Storage Facility with Retail in Purchased for $4.979M
On January 13th, Westport Properties purchased three 1 & 3-story buildings totaling 60,488 square feet from CAM Properties for $4,979,000. The property includes storage facility, gas station and freestanding retail.
Automotive Dealership in Surprise Purchased for $10.8M
On January 12th, Earnhardt Motors purchased an automotive dealership with four buildings built on 5.84 acres from Walters Golf for $10,879,387.37 with $9,138,635.39 in cross-collateralized debt with Hyundai Capital America.