THE VIZZDA WEEKLY
January 23rd, 2017
Last week in Phoenix, Vizzda tracked $151,553,772 in commercial real estate transactions
including 44 sales and 6 new projects. Below are Vizzda's top reports of the week.
PLANNING & ZONING
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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)
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LAND
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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)
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OFFICE
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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)
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MULTIFAMILY
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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)
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INDUSTRIAL
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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)
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RETAIL
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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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