The Vizzda Weekly - Phoenix - March 13th, 2017

 

THE VIZZDA WEEKLY

March 13th, 2017

 

 

Last week in Phoenix, Vizzda tracked $94,025,656 in commercial real estate transactions

including 42 sales and 7 new projects. Below are Vizzda's top reports of the week. 

 

 

 

 

PLANNING & ZONING 

 

 

1,260-Lot Marbella Ranch Proposed Near El Mirage and Northern Avenue      A variance request was introduced to the Maricopa County Board of Supervisors for a 1,260-lot single family residential subdivision on 359.5 acres of unincorporated land near El Mirage and Northern Avenue.   (1 of 7 planning & zoning events last week)   Vizzda Subscribers - Click Here to View Full Report

 

LAND

 

 

15 Acres Proposed for Vedura Plaza Del Rio Sells for $4 Million   Vedura Residential purchased 15 acres in Peoria proposed for the Vedura Plaza Del Rio 100-unit apartment complex.                   (1 of 10 land sales last week)   Vizzda Subscribers - Click Here to View Full Report

 

OFFICE

 

 

Surprise Medical Plaza Sells for $8.7 Million      Florida-based International Rail Partners purchased this 34,000 square foot, two-story medical office on 3/9.              (1 of 7 office sales last week)   Vizzda Subscribers - Click Here to View Full Report

 

MULTIFAMILY

 

 

54-Unit Parkside Apartments in Avondale Sell to A Plus Management   A Plus Management purchased this apartment complex for $3.75 million on 3/8 from Robert & Mary Myers of California.   (1 of 3 multifamily sales last week)   Vizzda Subscribers - Click Here to View Full Report

 

INDUSTRIAL

 

 

Riverpoint Building IV Sells to Michigan-Based Investor   West Second Street Associates purchased the over 93,000-square foot warehouse Riverpoint Building IV on 3/7 for $8,767,500 from LNR Partners.                     (1 of 11 industrial sales last week)    Vizzda Subscribers - Click Here to View Full Report

 

RETAIL

 

 

Canada-Based Investors Purchase Convenience Center near Deer Valley Airport     Canada-based Hopewell Development Company purchased the 33,550 square foot Flight Center convenience retail property at 615 W Deer Valley Road for $4.5 million.               (1 of 11 retail sales last week)   Vizzda Subscribers - Click Here to View Full Report

Vizzda Weekly - week ending 10/30/15

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 October 30, 2015 Last week, Vizzda researched 59 Sales events totaling $245,504,603 in transaction value. We also reported on and cataloged 2 Distressed Property notices, 31 Debt Recordings and21 Planning & Zoning events.
Sponsored by
What happened in LAND last week? Vizzda reported on and cataloged 17 Land Sales, 1 Notice for Trustee Sale and 7 Debt Recordings in Maricopa County.
	Featured Land Sale: ±7 Acres sells for $1.3M in Mesa EastGroup Properties purchased ±7.82 acres of commercial land zoned LI on 10/28/2015 from Hewson Development Corp. for $1,311,159 ($4 per unimproved SF). It's planned for a 120K SF industrial building.  Vizzda subscribers - please click here for the full report.
Would you like contact info for the buyer or seller? Vizzda has it!
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What happened in OFFICE last week? Vizzda reported on and cataloged 4 Office Sales, 1 Notice for Trustee Sale and 3 Debt Recordings in Maricopa County.
	Featured Office Sale: ±2,810 SF Office Property sells $290K in Phoenix Patricia Yager purchased a single story office property, built 1959 & zoned C-1, on 10/26/2015 from John D. & Shannon L. Miller for $290K ($103 per SF). There was no debt recorded with the sale.  Vizzda subscribers - please click here for the full report.
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 11 Multifamily Sales, 8 Debt Recordings and 3 proposed Multifamily Planning & Zoning events in Maricopa County.
	Featured Multifamily Sale: Bulk Condo Units sell for $6.4M in Phoenix Thomas Commers and Aaron James have sold 146 units in El Cortez to FPA Multifamily for $6.4M or $43,835 per unit. There are a total of 165 units in this 3-story apartment complex and all of the units are studio apartments. There was no debt recorded with the sale that took place on 10/27/2015. 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, 8 Debt Recordings and 3 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: Former "Mervyn's" Retail Anchor sells for $2.3M in Chandler Asad Hasasneh (owner, Furniture & Mattress Discounters, new tenant) purchased a 75K SF retail anchor on 10/26/2015 from Vintage Partners for $2.3M ($30.34 per SF) with $134K down and two new SBA notes originated with Seacoast Commerce Bank: $2.1M note and $382K construction loan. The single story building was built in 1990 and was formerly the location of "Mervyn's" department store.  Vizzda subscribers - please click here for the full report.
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 12 Industrial Sales, 6 Debt Recordings and 1 proposed Industrial Planning & Zoning event in Maricopa County.
	Featured Industrial Sale: ±9K SF Industrial Flex Property sells for $750K in Tempe Zachary E. & Darcy A. Stravitz (Stravitz Glass, current tenant) purchased the multi-tenant industrial flex property on 10/28/2015 from Henry F. Ander et al. for $750K ($81 per SF) with $112K down and a new $637K SBA loan originated through Wells Fargo. The property consists of 1 single story building built in 1986 on .55 acres and zoned I-1.  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 10/23/15

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 October 23, 2015 Last week, Vizzda researched 54 Sales events totaling $146,637,313 in transaction value. We also reported on and cataloged 6 Distressed Property notices, 18 Debt Recordings and35 Planning & Zoning events.
Sponsored by
What happened in LAND last week? Vizzda reported on and cataloged 17 Land Sales and 3 Debt Recording in Maricopa County.
	Featured Land Sale: ±21 Acres sells for $4.3M in Litchfield Park Evergreen Development Co. purchased ±21 acres on 10/20/2015 from Sun Health Properties and Charlene D. Bodine (Family Trust) for $4.3M. Sale recorded as two transactions. The site is proposed for a 2,850 SF restaurant (Jack In The Box), 15K SF inline retail strip, 10K SF freestanding PAD "PAD A", 5K SF freestanding PAD "PAD C", 124K SF Fry's Grocery (anchor) with a fuel center & 1.54 acre park.   Vizzda subscribers - please click here for the full report.
Would you like contact info for the buyer or seller? Vizzda has it!
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What happened in OFFICE last week? Vizzda reported on and cataloged 5 Office Sales, 1 Notice for Trustee Sale and 2 Debt Recordings in Maricopa County.
	Featured Office Sale: ±25K SF Office Property purchased by the BBB for $4.3M in Phoenix The Better Business Bureau acquired two one-story office buildings built in 1981 & 1982 on 10/21/2015 for $4.3M with $1.5M down and $2.8M in new debt with Desert Schools Federal Credit Union. Vizzda subscribers - please click here for the full report.
Would you like the purchase history for this property? Vizzda has it!
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 7 Multifamily Sales, 2 Debt Recordings and 4 proposed Multifamily Planning & Zoning events in Maricopa County.
	Featured Multifamily Sale: Mountain View Apartments sells for $684K in Phoenix On 10/21/2015, Florin Ianc purchased 16-unit 2-story multifamily property from Liliana Stoianova for $684K or $42,750 per unit with $20K down and two notes with sale: $547K with John W. Blauvelt (matures 10/20/2016) and $120K with Jason Bradley Payne (matures 5/31/2016). The property consists of one building, totaling ±9K SF, built in 1982 on 0.39 acres zoned R-4 & M-H. Vizzda subscribers - please click here for the full report.
Did you need the unit mix for this property? Vizzda has it!
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What happened in RETAIL last week? Vizzda reported on and cataloged 14 Retail Sales, 3 Notices for Trustee Sale, 7 Debt Recordings and 6 proposed Retail Planning & Zoning events in Maricopa County.
	Featured Retail Sale: Freestanding Retail Property sells for $823K in Old Town Scottsdale John N. Vatistas (co-owner of Russ Lyon Sotheby's International Realty) purchased a ±2,655 SF freestanding retail building on 10/21/2015 from Brian Curley (Schmidt Curley Design Inc.) for $823K ($310 per SF) with $292K down and $856K debt with Western State Bank, maturing 10/20/2025.  Vizzda subscribers - please click here for the full report.
Would you like the contact info for the new owner? Vizzda has it!
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 5 Industrial Sales, 1 Notice for Trustee Sale, 4 Debt Recordings and 3 proposed Industrial Planning & Zoning events in Maricopa County.
	Featured Industrial Sale: ±66K SF Industrial Flex Property sells for $3.7M in Scottsdale Grant Russell purchased a ±66K SF industrial flex property on 10/20/2015 for $3.7M or $56.59/SF, with $4.4M in new debt with BMO Harris Bank. The property consists of one building, built in 2000, on 5.45 acres and zoned I-1. Vizda subscribers - please click here for the full report.
Would you like additional property information? Vizzda has it!
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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 10/2/15

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 October 2, 2015 Last week, Vizzda researched 59 Sales events totaling $470,805,186 in transaction value. We also reported on and cataloged 2 Distressed Property notices, 28 Debt Recordings and3 Planning & Zoning events.
Sponsored by
What happened in LAND last week? Vizzda reported on and cataloged 11 Land Sales, 2 Notices for Trustee Sale and 1 Debt Recording in Maricopa County.
	Featured Land Sale: 2.75 Acres sells for $2.1M in Avondale QuikTrip Corporation (QT) purchased 2.75 acres land on 9/29/2015 in two sales totaling $2.1M: The western 2.5 acres purchased from Parkway Bank & Trust for $1.8M; the eastern 0.7 acres purchased from Hamid Ertefai for $390K. No new debt recorded with either sale. In a subsequent quit-claim, these land properties were transferred to single related QuikTrip entity. Vizzda subscribers - please click here for the full report.
Would you like contact info for the buyer or seller? Vizzda has it!
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What happened in OFFICE last week? Vizzda reported on and cataloged 9 Office Sales, and 4 Debt Recordings in Maricopa County.
	Featured Office Sale: Palo Verde Cancer Center sells for $8.8M in Glendale On 9/28/2015, Sante Partners & PDC Capital Group acquired the 130K SF medical office plaza, built in 2008, for $8.8M from Select Healthcare Solutions with $2.7M down & $6.1M in new debt in 2 notes; $4.8M with Inca Capital and $1.3M in seller-carried debt. Vizzda subscribers - please click here for the full report.
Would you like the purchase history for this property? Vizzda has it!
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What happened in MULTIFAMILY last week? Vizzda reported on and cataloged 14 Multifamily Sales and 13 Debt Recordings in Maricopa County.
	Featured Multifamily Sale: Revival on 40th sells for $3.6M in Phoenix John Trubilla acquired the 70 unit 3-story multifamily property built in 1982 from Cal DeSouza of ReNue Properties on 10/1/2015 for $3.6M with $1M down & $2.5M in new debt with Opus Bank (10/1/2025 Maturity Date). DeSouza / ReNUE sold three apartment complexes that day totaling 195 units for a total of $11.01M. Vizzda subscribers - please click here for the full report.
Did you need the unit mix for this property? Vizzda has it!
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What happened in RETAIL last week? Vizzda reported on and cataloged 9 Retail Sales, 1 Notice for Trustee Sale, 7 Debt Recordings and 1 proposed Retail Planning & Zoning event in Maricopa County.
	Featured Retail Sale: McDonald's Ground Lease sells for $1.8M in Mesa Orsett Properties sold the landlord interest in this ground-leased 4K SF retail property to the California entity "3568 Veteran LLC" on 9/28/2015 for $1.83M. Buyer entity traces to California real estate agents Ronald & Elsie Wynn. Net leased to "McDonalds" with lease commencing 11/15/13 for 20 years with eight 5-year options to extend, the property is part of a neighborhood shopping center with "Bashas" anchor. Vizzda subscribers - please click here for the full report.
Would you like the contact info for the new owner? Vizzda has it!
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What happened in INDUSTRIAL last week? Vizzda reported on and cataloged 12 Industrial Sales, 1 Notice for Trustee Sale, 3 Debt Recordings and 1 proposed Industrial Planning & Zoning event in Maricopa County.
	Featured Industrial Sale: 57K SF Cold Storage/LightManufacturing space sells for $3.6M in Phoenix The H. J. Heinz Company sold 57K SF Cold Storage Warehouse / Light Manufacturing property to the Boyer Company on 9/30/2015 for $3.6M . Points of contact for each of the parties involved are available on the full report. Subscribers - please click here for the full report.
Would you like additional property information? Vizzda has it!
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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 Planning & Zoning Week In Review July 20 - 24, 2015

Here is a brief look at a three of the newest Planning and Zoning cases in Maricopa County for the week of July 20th - 24th:

Gallery: This project is an eighteen-unit town home project located northwest of the northwest corner of Scottsdale and Thomas Roads (7107 E Earll Drive in Scottsdale). The vacant 1.2 acre site currently owned by William Lund will be developed for eighteen detached three story town homes with first floor two car garages. The case, which will require a Minor General Plan Amendment and Rezoning, was submitted to the City of Scottsdale Planning Department on July 16th, 2015. It is currently in the review process, and no hearing dates have been set at this time.

Tegava Unit 2.1: Phase 2 of the 856.5 acre master planned community formerly known as Vista Verde was given approval by the Maricopa County Board of Supervisors on July 22nd. The Board of Supervisors approved the Final Plat for 168 single family residential lots on 57 acres. Shea Homes is the owner and developer of the property located on the northeast corner of 172nd Street and Rio Verde Drive.

Cornwell on Quail Ave: A rezoning case for the development of a 69,000 SF industrial flex project was submitted and is scheduled to be heard by the City of Phoenix Planning Commission when they reconvene on August 11th. The development will have five single-story buildings with suite sizes of 1,568 and 1,728 square feet. Cornwell Corporation is the owner and developer of the vacant 6.35 acre site located northwest of Cave Creek Road and State Route 101.

(Initial Renderings for Cornwall on Quail Ave)

For more information on these cases, visit us at our website or send us an email. We are happy to hear from you!