Monday, January 23, 2017

The Vizzda Weekly - Phoenix - January 23rd, 2017

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THE VIZZDA WEEKLY
January 23rd, 2017
 
 
Last week in Phoenix, Vizzda tracked $151,553,772 in commercial real estate transactions
including 44 sales and new projects. Below are Vizzda's top reports of the week. 
 
 
 
 
PLANNING & ZONING 
 
 
Spotlight
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.   
 
(1 of 6 planning & zoning events last week)
 
LAND
 
 
Spotlight
Residential Land in Sun City Purchased for $1.5M
 
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.   
                 
(1 of 14 land sales last week)
 
 
 
 
OFFICE
 
 
Spotlight
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.           
       
(1 of 12 office sales last week)
 
    
 
MULTIFAMILY
 
 
Spotlight
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.        
           
(1 of 5 multifamily sales last week)
 
 
 
INDUSTRIAL
 
 
Spotlight
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.                    
(1 of 2 industrial sales last week)
 
RETAIL
 
 
Spotlight
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.   
             
(1 of 11 retail sales last week)
 
 
 
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