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CREReport | Phoenix for December 12, 2014
    

CREReport | Phoenix

Commercial Real Estate Report for December 12, 2014

Top Stories from Wed, Dec 10

• Douglas Allred Plans $700M, 1M SF Mixed-Use Project in Chandler

Regent Properties Acquires 293K SF Office-Retail Property in North Phoenix for $58.6M

• Ocotillo Fiesta LLC Acquires 41K SF Retail Center in Chandler

• Strategic Hotels & Resorts Acquires 210-Room Four Seasons Resort Scottsdale at Troon North... Mentions Developable Land

CREReport | Phoenix

Thomas Gardner Proposes Development of DC Heights - a 250-Unit Apartment Complex in Chandler

The City of Chandler is considering a granting a zoning change for a proposed multifamily project located at SW/SWC Arizona Ave & Chandler Blvd in Chandler near San Marcos resort.

Developer Thomas Gardner hopes to build a 250-unit apartment complex at the site with the possibility of ground-level retail space.

azcentral.com

Chamberlain Development Acquires 10.5 Acres of Land in Chandler for $3.2M

Chamberlain Development LLC purchased 10.5 acres of land located at S/SEC Loop 202 (Santan Fwy) & Arizona Ave in Chandler from Siebe and Eileen Hamstra for $3,202,437.

Chamberlain Development plans to build Willis/AZ AVE Corporate Park, a 139,735 square-foot industrial project, at the site.

Lee & Associates’ Matt Hobaica represented the buyer, Chamberlain Development. Matt Fredrick and Kurt Saulnier will market the project.

Lee & Associates

TriGate Capital Acquires Gateway Village in Glendale in $53M Portfolio Sale

TriGate Capital purchase a seven-property, 619,161 square-foot portfolio from PDSI for $53M.

The properties are spread across five states.

One of the subject properties is Gateway Village, a 126,286 square-foot retail center located at NWC 59th Ave & Bell Rd in Glendale.

Cassidy Turley represented the seller, PDSI, in the transaction.

cassidyturley.com

Jackson Shaw and LaPour Partners Acquire 11.5 Acres of Land in Phoenix for $2.35M

Jackson Shaw Co and LaPour Partners purchased 11.5 acres of land located at NWC 7th Ave & I-17 (Maricopa Fwy) in South Phoenix from Clinton Campbell Contractors Inc. for $2,350,000.

Jackson Shaw and LaPour Partners are already building Parc 17, a $14.5M, 178,000 square-foot spec industrial project at the site.

Lee & Associates’ Stein Koss and Tom Louer represented the buyer, Jackson Shaw Co and LaPour Partners.

Previously reported on Nov. 21: Jackson-Shaw and LaPour Partners Plan Acquire 11.5 Acres in Phoenix for $2.35M, Plan Industrial Project

Lee & Associates

Farnham Realty Acquires 314-Unit Apartment Complex in Gilbert for $47.1M

Previously reported on Dec 8: Farnham Realty Acquires Broadstone at Twin Fields in Gilbert for $47.1M

There are a few more details included in the press release.

Excerpt: Broadstone at Twin Fields, LP (Alliance Residential), represented by Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis, sold the Class A garden-style apartment community for $47.1 million ($150,000 per unit). FRI San Tan, LLC (Farnam Realty, Inc.) acquired the apartment community.

cassidyturley.com

Companies Planning to Build at Aspera in Glendale

Three new companies have announced plans to develop their locations at Aspera, the mixed-use project located at NWC 75th Ave & Loop 101 (Agua Fria Fwy) in Glendale.

P.B. Bell (286-unit apartment complex)

• Mountainside Fitness (40,000 SF building)

• Kneaders Bakery & Cafe (4,050 SF building)

glendalestar.com

Construction Cam of Marina Heights in Tempe

Screen capture of Marina Heights construction on Dec 12 2014. Screen Capture from Ryan Companies’ Construction Cam (oxblue.com)

Ryan Companies, Sunbelt Holdings and OxBlue.com stream construction updates of Marina Heights located at W/NWC Scottsdale Rd & Rio Salado Pkwy in Tempe.

At 2M square-feet and $600M development, the project is billed as the largest office development in the history of Arizona. Construction began July 31, 2013 with delivery of the first 370,000 square-foot building expected mid-2015.

While the construction cam offers a time lapse of the actual work, a pretty cool rendering-style time-lapse is available on Vimeo: Marina Heights Rendering Time-Lapse

oxblue.com