The Vizzda Weekly - Phoenix - November 14th, 2016

 

THE VIZZDA WEEKLY

November 14th, 2016

 

 

Last week in Phoenix, Vizzda tracked $255,663,937 in commercial real estate transactions

including 42 sales and 19 new projects. Below are Vizzda's top reports of the week. 

 

 

 

 

PLANNING & ZONING 

 

 

New Coffee Shop Proposed for Development in Mesa        On November 8th, The City of Mesa Design Review Board continued a preliminary review during a public meeting for the development of 670 square foot coffee shop.          (1 of 24 planning & zoning events last week)   Vizzda Subscribers - Click Here to View Full Report

 

LAND

 

 

Vacant Land in Peoria Proposed for Senior Facility Purchased for $3.2M   On November 7th, Heritage Communities purchased 6.69 acres of vacant land from Christ's Church of the Valley for $3,241,664 and is proposed for a 116-bed assisted living facility.             (1 of 6 land sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

OFFICE

 

 

Multi-Tenant Office in Scottsdale Purchased for $14.7M       On November 8th, Kramer-Wilson Company purchased three 1 & 2-story office buildings totaling 62,337 square feet from Cornwell Corporation for $14,700,000.          (1 of 10 office sales last week)   Vizzda Subscribers - Click Here to View Full Report      Click Here to View Sample Report

 

MULTIFAMILY

 

 

Mobile Home Park in Eloy Purchased for $2.65M    On October 26th, George McGavin purchased a 149-space RV park built on 12.19 acres from Marvin Sampson for $2,650,000 with $795,000 down and $1,855,000 in new debt with Bank of Hemet.               (1 of 4 multifamily sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

INDUSTRIAL

 

 

Warehouse in Peoria Purchased for $3.9M   On November 8th, Ryan Wood and Chris Finn purchased one warehouse building totaling 81,197 square feet from David Bernard, Susan Wagner, et at., for $3,900,000 with $2,925,000 in new funding with First Western Trust Bank.             (1 of 7 industrial sales last week)    Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

RETAIL

 

 

LA Fitness in Scottsdale Purchased for $9.85M    On November 3rd, David Norouzi purchased one 2-story single-tenant building totaling 44,374 square feet from Warmington Properties for $9,850,000 with $5,650,000 in new funding with Parkview Financial.              (1 of 15 retail sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

 

 

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Former Buckeye Quarry Proposed for Outdoor Entertainment Facility

On Tuesday the Buckeye Planning Commission introduced a PAD overlay request for an outdoor waterfront park and entertainment facility. The proposed development would reside on the 58-acre former CEMEX quarry at the southeast corner of Rainbow and Beloat Roads.

Conceptual Master Plan via public documents

The proposed facility is to include wake-boarding areas, a sand beach, equipment rental docks, inflatable attractions, food trailers/trucks, shade structures, music venue, and other event spaces. The proposed PAD overlay will replace the property's current SF-43 zoning.

Land Area via public documents

Vizzda subscribers: click here for the full report.

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The Vizzda Weekly - Phoenix Edition - July 11th, 2016

Last week in Phoenix, Vizzda tracked 3 new commercial projects and 53 sales totaling $318,174,010 in transaction value. Below are reports for five of the properties.

LAND

Vizzda tracked 16 new land sales this week in Phoenix.

Land Proposed for New Residential Lots in San Tan Valley Purchased for $837,000

On June 23rd, 2016, Pulte Homes purchased 18 finished lots from Communities Southwest for $837,000 ($46,500 per lot). The property is zoned CR-3 PAD.

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OFFICE

Vizzda tracked 4 new office sales this week in Phoenix.

Office Plaza Near Gilbert & Southern Sold for $1.25M

Douglas and Diana Goyer purchased this property on July 5th, 2016 from Zion's First National Bank for $1,250,000 and with $445,000 in new debt with US Bank. The property is 19,220 SF of office space in two 1-story buildings on 1.49 acres zoned OC.

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MULTIFAMILY

Vizzda tracked 8 new multifamily sales this week in Phoenix

Apartments in Glendale Purchased for $1.065M

On July 1st, 2016, Patrick Stojak acquired this property through a court ordered sale for $1,065,000. The property is a 44 unit apartment complex in three two-story buildings totaling 36,926 SF.

View Full Report

INDUSTRIAL

Vizzda tracked 9 new industrial property sales this week in Phoenix

Manufacturing Facility in Casa Grande Sold for $2M

Robert Stephan purchased this property on June 21st, 2016 for $2M in a 1031 exchange from Audrey Faucetta & Wendy Cypert et al. The property is 78,181 SF in two single story buildings on 19.1 acres and includes a 9.55 vacant lot.

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RETAIL

Vizzda tracked 1 new retail project and 16 new retail sales this week in Phoenix

Restaurant Near I-17 & Peoria Purchased for $1.26M

An entity tracing to Sung Hwan Lee, Lily Kwon, Sophia Kwak and Chongpal Moon purchased this property from Doris Knell and Elaine Dreyfuss on July 1st, 2016 for $1,260,000 with a new SBA loan of $1,976,000 originated through Wilshire Bank. The property is a 9,213 restaurant in one building on 1.53 acres zoned C-2.

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Vizzda Weekly - week ending 1/29/16

Keeping you up-to-date with CRE deals in the Phoenix Metro Market
Team Vizzda would like to present Vizzda Weekly - our complimentary weekly recap of commercial real estate activity in the Phoenix Metro Market. Every Monday we send out Vizzda Weekly with the number of events we reported on and cataloged along with some featured events from the previous week.
Keep in mind, this is just the tip of the iceberg. Vizzda provides in depth information for all commercial properties - Multifamily, Office, Industrial, Retail, Storage, Hospitality, Mobile Home, Senior Facilities, Golf, Hospitals, Land & Lots - in Phoenix Metro Market to our subscribers.
For the week ending January 29, 2016 Last week, Vizzda researched 46 Sales events totaling $74,341,366 in transaction value. We also reported on and cataloged 4 Distressed Property notices and 21 Planning & Zoning events.
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What happened in LAND last week? Vizzda reported on and cataloged 15 Land Sales and 1 Notices for Trustee Sale in the Phoenix Metro Market.
	Featured Land Sale: ±1 Acre Sells for $1.2M in Surprise An entity tracing to Oregano's (Mark S Russell & Frank B Sbordone) purchased this land on 1/28/2016 for $1.275M with $255K down and $1.02M debt with Compass Bank. Leased to Oregano's commencing 1/28/2016 and expiring1/28/2026 with two 5-year options to extend. An additional $1.548M debt with Compass Bank encumbers this lease. This property consists of 1.52 acres of commercial land zoned C-2.  Vizzda subscribers - please click here for the full report.
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What happened in OFFICE last week? Vizzda reported on and cataloged 3 Office Sales, 1 Notice for Trustee Sale and 1 proposed Office Planning & Zoning event in the Phoenix Metro Market.
	Featured Office Sale: ±3 Acre Office Property Sells for $1.25M in Phoenix  On 1/25/2016 Cipriano Ionutescu acquired this property from an entity tracing to Tye Smoole for $1.2M with $1.18M in seller-carried debt. This property consists of one 1-story building that was built in 1966 on 3.47 acres and zoned R-5.  Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 8 Multifamily Sales and 3 proposed for Planning & Zoning events in the Phoenix Metro Market.
	Featured Multifamily Sale: Mobile Home Park Sells in Apache Junction for $3.8M An entity tracing to Cobblestone Real Estate / Tricon Capital purchased this property on 1/11/2016 for $3.8M with $1.5M down. Funded by $5.6M debt with Starwood Mortgage Capital and cross-collateralized with Wickiup Mobile Home & RV Park. This property was built on 13.72 acres in 1972 and consists of a 206-space mobile home park. Vizzda subscribers - please click here for the full report.
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What happened in RETAIL last week? Vizzda reported on and cataloged 12 Retail Sales, 1 Notice for Trustee Sale and 1 proposed Retail Planning & Zoning event in the Phoenix Metro Market.
	Featured Retail Sale: ±44K SF Retail Property Sells for $3.1M in Tempe An entity tracing to Wentworth Property Company purchased this property on 1/27/2016 for $3.15M. Seller traces to Saxon Realty. Sale funded by $4.7M debt with Crow Holdings. The property consists of one single-story building on 2.38 acres zoned PCC-1.  Vizzda subscribers - please click here for the full report.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 10 Industrial Sales in the Phoenix Metro Market.
	Featured Industrial Sale: 3.5 Acre Industrial Property Sells for $1.6m in North Phoenix On 1/25/2016, this property sold to an entity tracing to Republic Services for $1.6M with $25K down. Seller traces to Loftco. Property consists of 3.5 acre secure yard zoned A-1 near Deer Valley and Cave Creek roads. Subscribers - please click here for the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.

Vizzda Weekly - week ending 12/11/15

Keeping you up-to-date with CRE deals in the Phoenix metro area
Team Vizzda would like to present Vizzda Weekly - our complimentary weekly recap of commercial real estate activity in Maricopa County. Every Monday we send out Vizzda Weekly with the number of events we reported on and cataloged along with some featured events from the previous week.
Keep in mind, this is just the tip of the iceberg. Vizzda provides in depth information for all commercial properties - Multifamily, Office, Industrial, Retail, Storage, Hospitality, Mobile Home, Senior Facilities, Golf, Hospitals, Land & Lots - in Maricopa County to our subscribers. ***VIZZDA NOW COVERS PINAL COUNTY*** Team Vizzda is pleased to announce the addition of Pinal County data to our exclusive information service. Please contact Karyn MacVean at (480) 924-2000 orkmacvean@vizzda.com for pricing and assistance.
For the week ending December 11, 2015 Last week, Vizzda researched 61 Sales events totaling $326,852,508 in transaction value. We also reported on and cataloged 4 Distressed Property notice, 28 Debt Recordings and23 Planning & Zoning events.
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What happened in LAND last week? Vizzda reported on and cataloged 18 Land Sales, 2 Notices for Trustee Sale and 4 Debt Recordings in Maricopa County.
	Featured Land Sale: ±39 Acres Land Sells for $5.2M in Peoria On 12/9/2015, the Empire Group sold ±39 acres of vacant residential land to Garret Walker Homes for $5.2M or $130,330 per acre ($32,962 per planned lot or $664 per planned FF); $7.9M construction loan from First Continental Investment Co. and $2.967M debt c/o Geddes and Company. The project, known as "Three Olive Park", is planned for 158 single family residential lots.   Vizzda subscribers - please click here for the full report.
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What happened in OFFICE last week? Vizzda reported on and cataloged 10 Office Sales, 1 Notice for Trustee Sale, 6 Debt Recordings and 2 proposed Office Planning & Zoning events in Maricopa County.
	Featured Office Sale: ±43K SF Office Property Sells for $6.6M in North Scottsdale Irgens Partners purchased the ±43K SF office property on 12/9/2015 from Waitt Company for $6.61M with $134K down and $5.85M debt with The Private Bank and Trust Company, maturing12/3/2018 (maturity may be extended to12/3/2020).The property consists of  one two-story multi-tenant "Class A" office building. The building was built in 1999 on 6.53 acres and zoned I-1. "Significant renovations underway" per lease flyer. 215 parking spaces or 5/1,000 SF. The sale includes 1.77 acres of vacant land. Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 9 Multifamily Sales, 7 Debt Recordings and 8 proposed Multifamily Planning & Zoning events in Maricopa County.
	Featured Multifamily Sale: West Glen Townhomes Sell for $2.75M in Phoenix A partnership between Red Rock Equities (Yotam Shochat), Oren Kolton, and Nir Naftali purchased the 38-unit apartment property on 12/9/2015 from Francis, Rodney, and Calum DeSouza for $2.75M ($72,368 per unit) with $1.475M down and $1.275M variable-interest debt with Bank 34. Per press release, property 100% leased at time of sale. The DeSouzas used to do business as Mentor Properties. Cal has also been working with ReNue Properties. The property consists of 16 buildings totaling 25,351 SF built in 1959 on 3.35 acres with City of Phoenix zoning R-3 and includes 1,394 SF single family residence.  Vizzda subscribers - please click here for the full report.
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What happened in RETAIL last week? Vizzda reported on and cataloged 15 Retail Sales, 1 Notice for Trustee Sale, 7 Debt Recordings and 3 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: ±25K SF Dollar Tree Sells for $1.65M in Phoenix The retail property known as "Dollar Tree #3723" was sold by Beal Bank 12/7/2015 for $1.65M ($66 per SF) with $650K down and $1M debt with Unison Bank. Buyer entity traces to Franklin & Susan Garfield and Aaron Lamstein and is care of Keith Mishkin (Cambridge Properties). The property consists of one single-story building built 1986 on 2.62 acres zoned PSC and is apart of "Shaw Butte Plaza" neighborhood shopping center.   Vizzda subscribers - please click here for the full report.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 7 Industrial Sales, 4 Debt Recordings and 3 proposed Industrial Planning & Zoning events in Maricopa County.
	Featured Industrial Sale: Roosevelt Business Park Sells for $14.9M in Phoenix WLA Investments (contact Jon S. Schisler) acquired the ±223K SF industrial property from Pearlman Properties (Zach Pearlman) on 12/8/2015 for $14.9M. There was no debt recorded with the sale. Per buyer press release: "...We are purchasing the Business Park with in-place rents that are 30% below current market levels and with 30% of the property that remains to be leased. The vacancy rate within the direct competitive set or similar size industrial units is less than 12% in a supply constrained market. Current rental rates are significantly below levels that would justify construction of competitive product anytime in the near future..." The property is a 38-office condo complex totaling 223,190 SF. 100% of the units sell in four-building (two 50,502 SF and two 61,093 SF) complex built 2006 on 26.647 gross acres zoned CP/GCP.  Subscribers - please click here for the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.

Vizzda Weekly - week ending 9/18/15

Keeping you up-to-date with CRE deals in the Phoenix metro area
Team Vizzda would like to present Vizzda Weekly - our complimentary weekly recap of commercial real estate activity in Maricopa County. Every Monday we send out Vizzda Weekly with the number of events we reported on and cataloged along with some featured events from the previous week.
Keep in mind, this is just the tip of the iceberg. Vizzda provides in depth information for all commercial properties - Multifamily, Office, Industrial, Retail, Storage, Hospitality, Mobile Home, Senior Facilities, Golf, Hospitals, Land & Lots - in Maricopa County to our subscribers. ***VIZZDA NOW COVERS PINAL COUNTY*** Team Vizzda is pleased to announce the addition of Pinal County data to our exclusive information service. Please contact Karyn MacVean at (480) 924-2000 orkmacvean@vizzda.com for pricing and assistance.
For the week ending September 18, 2015 Last week, Vizzda researched 46 Sales events totaling $200,811,173 in transaction value. We also reported on and cataloged 2 Distressed Property notices, 23 Debt Recordings and 34 Planning & Zoning events.
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What happened in LAND last week? Vizzda reported on and cataloged 22 Land Sales, 1 Notice for Trustee Sale and 5 Debt Recordings in Maricopa County.
	Featured Land Sale: 4.4 Acres Planned for Self Storage sells for $1.6M in Gilbert Public Storage purchased ±4.44 acres of commercial land planned for a 5 building self storage facility totaling ±102K SF on 9/15/2015 from Gary D. Davidson & Michael McQuaid for $1.6M with no new debt recorded with sale. Vizzda subscribers - please click here for the full report.
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What happened in OFFICE last week? Vizzda reported on and cataloged 8 Office Sales, 6 Debt Recordings and 3 proposed Office Planning & Zoning events in Maricopa County.
	Featured Office Sale: Office Property sells for $2M in Scottsdale Gebran A. Gebran of US Egg acquired the 19K SF office property built in 1958 from Tom Frenkle of Clayton Companies on 9/15/2015 for $2M, all down. Option to purchase granted to seller (Frenkel) with undisclosed terms. Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 2 Multifamily Sales, 2 Debt Recordings and 4 proposed Multifamily Planning & Zoning events in Maricopa County.
	Featured Multifamily Sale: Former Senior Care Facility sells for $1.395M in Mesa Soba Recovery Centers (Gregory Hannley & Jennifer O'Hara) purchased the 7-unit care facility built in 1997 on 9/16/15 from Scott R. Goldberg for $1.395M with $140K down and $1.2M seller-carry debt. Soba Recovery Centers is the current tenant of the ±5K SF single story building. Vizzda subscribers - please click here for the full report.
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What happened in RETAIL last week? Vizzda reported on and cataloged 7 Retail Sales, 4 Debt Recordings and 8 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: Retail Strip sells for $600K in West Phoenix Nevada investor Bikramjit Nanar purchased the ±4K SF retail property built in 2005 on 9/14/2015 from Walter L. & Susan L. Trace for $600K with $204K down & two seller-carry notes for $295K and $100K. This $600K purchase price & broker-reported NOI of $51,997 translate to a CAP rate of 8.7% for this deal. Vizzda subscribers - please click here for the full report.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 6 Industrial Sales, 1 Notice for Trustee Sale, 4 Debt Recordings and 3 proposed Industrial Planning & Zoning events in Maricopa County.
	Featured Industrial Sale: 41K SF Industrial Flex property sells for $3.6M in Gilbert Charles Walton, Wade & JD Stooks and Kevin Van Hazel, et al., acquired the ±41K SF single tenant industrial flex building built in 2005 on 9/16/2015 from Bell Steel for $3.6M with $384K down and $4.5M in new debt with Bank of the West in 2 notes; $3M & $1.5M. Vizzda subscribers - please click here for the full report.
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DISCLAIMER: The information contained herein is from sources deemed reliable. We have no reason to doubt its accuracy but do not guarantee it. It is the responsibility of the person viewing this information to independently verify it.