Phoenix Vizzda Weekly - Week Ending May 27th, 2016

Keeping You Up-To-Date with Commercial Real Estate Deals in the Phoenix Metro Market
The Vizzda Weekly is Vizzda's complimentary recap of the industry's commercial real estate activity for the previous week in Greater Phoenix. The Vizzda Weekly tells you the total number of sales and projects tracked by Vizzda that week, as well as detailed information on a selected deal or project from each major asset class. Keep in mind, this is just the tip of the iceberg. Vizzda provides in-depth information for all commercial properties in Greater Phoenix, including, Office, Industrial, Retail, Multifamily, Commercial Land, Residential Lots and much more.
For The Week Ending May 27th, 2016 Vizzda reported 73 sale events totaling $294,406,117 in transaction value in the Phoenix Metro Market. Vizzda also cataloged 3 Planning & Zoning events.
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What Happened in LAND Last Week? Vizzda reported 13 Land Sale events in the Phoenix Metro Market.
	Featured Land Sale: ±12 Acres of Vacant Commercial Land in San Tan Valley Purchased for $3M      Scott Seldin purchased this property on 5/16/2016 from David Leyvas for $3M and with $3.1M seller-carry debt. The property is 12.86 acres of vacant commercial land zoned CB-2.   Vizzda Subscribers - click here to access the full report.
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What Happened in OFFICE Last Week? Vizzda reported 8 Office Sale event in the Phoenix Metro Market.
	Featured Office Sale: Two-Building Medical Office in Mesa Sold for $2.35M      On 5/20/2016, Edna Gilbert and Teresa Cooper sold this medical office complex to Dr. Jason Heavens and his wife Roxanne, dba Heavens Medical, for $2.35M and $1.7625 in new debt with Western State Bank maturing5/20/2021. The property consists of  two buildings on ±2 acres totaling 20,464 SF.      Vizzda Subscribers- click here to access the full report.
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What Happened in MULTIFAMILY Last Week? Vizzda reported 11 Multifamily sale events in the Phoenix Metro Market. Vizzda also cataloged 1 Multifamily Planning and Zoning events.
	Featured Multifamily Sale: 51-Unit Multifamily Property Near McDowell Road Purchased for $3.1M  This apartment complex was purchased 5/23/2016 from Laguna Point Properties for $3.1M with $860K down and $2.24M new debt with New York Community Bank. Two buyer entities acquired this property TIC (tenancy-in-common) totaling 87.84%. This property consists of three buildings totaling ±48,450 RSF and is zoned R-5.  Vizzda Subscribers - click here to access the full report.
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What Happened in RETAIL Last Week? Vizzda reported 14 Retail Sale events in the Phoenix Metro Market. Vizzda also cataloged 1 Retail Planning and Zoning events.
	Featured Retail Sale: Retail Building on Mill Avenue Sold for $2,135,650 Simon Commercial Real Estate sold this property to Montecito Real Estate Investments on 5/20/16 for $2,135,650. This retail property is 3,228 SF built on ±9059 SF and is zoned City of Tempe CC.    Vizzda Subscribers - click here to access the full report.
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What Happened in INDUSTRIAL Last Week? Vizzda reported 15 Industrial Sale events in the Phoenix Metro Market.
	Featured Industrial Sale: ±23 Acre Manufacturing Facility in Gilbert Purchased for $6M Weinberger Waste Disposal purchased this property from Schuff Steel on 5/26/2016 for $6M, with $740,960 down and $5,259,040 in debt with JPMorgan Chase Bank. The property is three single-story buildings on 23.32 acres which includes a ±7K SF office and a secure yard.   Vizzda Subscribers - click here to access the full report.
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Apple Purchases 282 Acres Proposed for Bonnybrooke Solar Project

Area Map

Apple, Inc purchased 282 acres of land earlier this month, planned for the Bonnybrooke Solar Project. The utility scale photo-voltaic solar facility will be located on Diversion Dam Road in Florence. This is part of Apple's investment of nearly $3 billion for solar facilities in both Arizona and California¹.

California-based Sun Power had previously purchased the property as 439 acres late November, over two months after a planned unit development and rezoning application was submitted to the city council.

1. Article: Apple Invests $3 Billion in Solar Energy

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“Home 2 Suites by Hilton” Planned for Development in Chandler

Dobson & Queen Creek Rd vicinity map

North Central Group has purchased 2.88 acres of land in the Price Road Corridor northwest of the Dobson/Queen Creek intersection for development of a four-story hotel under the flag “Home 2 Suites by Hilton”. The sale was recorded on the 8^th of June with a purchase price of $1,347,953 or $10.75 per square foot. The hotel is part of a planned area development on 33.73 acres called “Continuum at Dobson”. Justin Merritt of SVP and David A Lenz of North Central Group closed the deal.

For more information including complete property history, planning/zoning, and buyer/seller contacts visit us at www.vizzda.com or email us at info@vizzda.com.