The Vizzda Weekly - Phoenix - February 6th, 2017

 

THE VIZZDA WEEKLY

February 6th, 2017

 

 

Last week in Phoenix, Vizzda tracked $224,634,153 in commercial real estate transactions

including 68 sales and 25 new projects. Below are Vizzda's top reports of the week. 

 

 

 

 

PLANNING & ZONING 

 

 

New Retail Expansion Proposed for San Tan Village Mall            On February 1st, The Town of Gilbert Planning Commission introduced a Site Plan for a new multi-building retail development on 7.8 acres of land.       (1 of 25 planning & zoning events last week)   Vizzda Subscribers - Click Here to View Full Report

 

LAND

 

 

Vacant Land in Glendale Purchased for $4.8M     On February 1st, Garrett Walker Homes purchased 37.93 acres of vacant land in Glendale Betty Martin for $4,865,400 with $8,741,760 in new construction debt with First Continental Investment Company and $2,650,000 in new debt with Geddes and Company. The property is proposed for the development of a 187-lot single family subdivision.                       (1 of 16 land sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

OFFICE

 

 

Medical Plaza in Anthem Purchased for $10.6M      On January 31st, The Colorado Group purchased 4 office buildings on 6.12 acres of land from West Coast Capital Partners for $10,600,000 with $1,855,000 down and $8,745,000 in new debt with Capital One.                 (1 of 11 office sales last week)   Vizzda Subscribers - Click Here to View Full Report      Click Here to View Sample Report

 

MULTIFAMILY

 

 

175-Unit Apartment Complex in Queen Creek Purchased for $22.65M   On February 1st, Daniel Hick purchased seventeen 2-story buildings on 10.53 acres of land from Michael Pachtman for $22,650,000 with $17,000,000 in new funding with HFF, maturing February 1st, 2027.     (1 of 6 multifamily sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

INDUSTRIAL

 

 

Flex Warehouse in Tempe Purchased for $16.4M   On January 26th, Carter Validus purchased one two-story building totaling 44,244 square feet from El Dorado Holdings for $16,400,000.                     (1 of 14 industrial sales last week)    Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

RETAIL

 

 

Freestanding Automotive Retail in Gilbert Purchased for $1.4M       On February 2nd, Ryan, David, April and Julie Gunnell purchased one single-story building totaling 4,560 square feet from LaMoine Gunnell for $1,400,000 with $420,000 down and $980,000 in new funding with MidFirst Bank.                    (1 of 16 retail sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

 

 

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The Vizzda Weekly - Phoenix - November 7th, 2016

 

THE VIZZDA WEEKLY

November 7th, 2016

 

 

Last week in Phoenix, Vizzda tracked $274,950,572 in commercial real estate transactions

including 55 sales and 24 new projects. Below are Vizzda's top reports of the week. 

 

 

 

 

PLANNING & ZONING 

 

 

New Movie Theater and Retail Space Proposed for Development in Gilbert       On November 2nd, The Gilbert Planning Commission introduced a Minor General Plan Amendment for the development of a mixed-use project consisting of three 2-story offices totaling 190,000 square feet, a 42,000 square foot cinema and 32,580 square feet of retail space on vacant land totaling 32.8 acres.         (1 of 24 planning & zoning events last week)   Vizzda Subscribers - Click Here to View Full Report

 

LAND

 

 

Vacant Land in Queen Creek Purchased for $2.12M   On October 31st, NexMetro Communities purchased 8.87 acres of vacant residential land from Willis Properties for $2,124,959. This property is part of Avilla Victoria at Queen Creek Community and is proposed for the development of an additional 225-lot master planned community.            (1 of 12 land sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

OFFICE

 

 

Great American Office Tower in Phoenix Purchased for $49M      On November 3rd, DPC Companies purchased a sixteen-story office tower totaling 378,215 square feet from EverWest Real Estate for $49,000,000 with $9,900,000 down and $39,100,000 in new funding with Washington Federal.         (1 of 10 office sales last week)   Vizzda Subscribers - Click Here to View Full Report        Click Here to View Sample Report

 

MULTIFAMILY

 

 

312-Unit Apartment Complex in Surprise Purchased for $40.6M    On October 28th, Millburn and Company purchased 13 apartment buildings on 16.33 acres from Treger Financial for $40,600,000 with $6,600,000 down and $34,000,000 in new funding with Berkadia Commercial Mortgage.              (1 of 6 multifamily sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

INDUSTRIAL

 

 

Cold Storage Warehouse in Phoenix Purchased for $16.325M   On October 28th, Performance Food Group purchased a 149,852 square foot, fully fenced and refidgerated warehouse from AmeriCold Logistics for $16,325,000 with $500,000 down.            (1 of 8 industrial sales last week)     Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

RETAIL

 

 

Chinese Cultural Center in Phoenix Purchased for $10M    On November 1st, Angelo Gordon & Company purchased the 160,667 square foot retail center from BNU Corporation for $10,000,000.              (1 of 19 retail sales last week)   Vizzda Subscribers - Click Here to View Full Report   Click Here to View Sample Report

 

 

 

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Two Phoenix Area Senior Facilities Sell for $75 Million

The Groves at Goodyear area map

Columbia Pacific Capital Management sold two valley senior facilities yesterday for a total of $75 million. The sales include The Oaks at Gilbert and The Groves at Goodyear, both at 134 units each. Salt Lake City-based Bridge Investment Group Partners purchased the two properties, funding the sale with $77.6 million cross-collateralized debt with Wells Fargo.

The Oaks at Gilbert is located near the southeast corner of Val Vista Drive and the 202 freeway in Gilbert, while The Groves at Goodyear is located at the northeast corner of Pebble Creek Parkway and West Virginia Avenue in Goodyear. Both assets total approximately 94,000 square feet each and include studio, one, and two-bedroom unit floorplans.

Vizzda subscribers: click here and here for full reports.

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Cambria Luxury Apartments in Gilbert Transact for over $24 Million

Area Map

Fairfield Residential has purchased the Cambria Luxury Apartments located near the northwest corner of Guadalupe and Gilbert. The $24.35 million transaction was financed through the assumption of an exisiting $10 million Fannie Mae loan as well as an additional $5.5 million in new debt with Fannie Mae.

Images property of Vizzda

174 units make up the Cambria Luxury Apartment complex, including one, two, and three-bedroom unit sizes. It was built 2000 on 8.7 acres and includes one pool.

Vizzda subscribers: click here for the full report.

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Bayside at the Islands Apartments Sell for $33.5 Million

Area Map

The 272-unit Bayside at the Islands Apartments in Gilbert sold Tuesday for $33.5 million, or over $123,000 per unit. Southwest Capital Ventures purchased the property care of PB Bell, funded by a $27 million Freddie Mac loan. Mercury Investments was the seller in this transaction.

These waterfront apartments are located east of the northeast corner of McQueen and Warner Roads. It has a unit mix of one, two, and three-bedroom floorplans, in-unit washer and dryer, pool, and basketball/volleyball court. They were built in 1987 on twelve acres.

Vizzda subscribers: click here for the full report.

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88,000 Square Feet of Industrial Net Leased to Curtiss-Wright Sells for $19 Million

Area Map

Irvine, California-based Silverpeak Real Estate Advisors purchased the 88,000 square foot industrial flex building at 1150 N Fiesta Blvd in Gilbert on Tuesday. The building is net-leased to Curtiss-Wright Controls Integrated Sensing Inc, a subsidiary of Curtiss-Wright Corporation. Pursuant to a sale agreement dated November of 2013, the property sold for $19 million or $216 per square foot.

1150 N Fiesta Blvd was built in 1997 and was fully renovated in 2014. It stands on 11.11 acres near the northeast corner of Country Club Drive and Guadalupe Road in Gilbert.

Vizzda subscribers: click here for the full report.

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Clarion Partners Purchases Six Industrial Properties in Portfolio Totaling $80 Million

Area map of Valley West II, the largest of these six industrial properties

New York-based Clarion Partners have purchased six industrial properties in Maricopa County on Friday for a total of $80 million or $62 per square foot. The assets, which are located in Gilbert and Phoenix, were sold by Myron Zimmerman Investments of Oakland California. The total acquired building area is 1,293,509 square feet and includes The Continental Tech Center, El Dorado Tech Centers I,  II & III, Valley West I & II, and The Papago Distribution Center. No new debt was recorded.

For more information on this property including complete history of all six properties as well as buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!

        


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