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CREReport | Phoenix for November 4, 2014

CREReport | Phoenix

Commercial Real Estate Report for November 4, 2014

Bell Steel Acquires 46K SF Industrial Property in Chandler for $4.5M

Bell Steel Inc. purchased a 46,100 square-foot industrial property at NE/NEC Arizona Ave & Ray Rd on Hamilton St from TW Steel for $4.5M.

Jones Lang LaSalle’s Steve Larsen represented the buyer, Bell Steel Inc.

CBRE’s Evan Koplan and Mike Parker represented the seller, TW Steel.

Ralison Properties Holding Acquires 26K SF Industrial Property in Central Phoenix for $1.7M

Ralison Properties Holding, LLC purchased a +/-26,104 square-foot industrial property at NEC 27th Ave & I-10 in Central Phoenix from an undisclosed seller for $1.7M.

Commercial Properties Inc.’s Jeff Hays, Chad Neppl and Ryan Steele represented the buyer, Ralison Properties Holding, LLC.

Bascom Arizona Ventures Acquires Indigo Creek Apartments in North Phoenix for $40.5M

Bascom Arizona Ventures LLC purchased Indigo Creek, a 408-unit multifamily property at N/NEC 51st Ave & Thunderbird Rd in North Phoenix from CFS Indigo Creek LLC. for $40.5M.

ScanlanKemperBard Acquires 373K SF 101 North Office Building in Downtown Phoenix for $60M

ScanlanKemperBard Cos purchased 101 North, a 373,013 square-foot office building at S/SEC 1st Ave & Van Buren St in downtown Phoenix from AG 101 North First-21 West Van Buren LLC for $59.65M.

MG Properties Acquires 376-Unit Garden Grove Apartment Complex in Tempe for $35.6M

MG Properties Group purchased Garden Grove, a 376-unit multifamily property at NW/NWC Kyrene Rd & Elliot Rd on Grove Pkwy in Tempe from Metropolitan Life Insurance Co. for $35.6M.

Domain Communities Acquires 672-Unit Autumn Ridge Apartments in Central Phoenix for $35.9M

Domain Communities purchased Autumn Ridge apartments, a 672-unit multifamily property at NWC 19th Ave & Thunderbird Rd in Central Phoenix from Summit Autumn Ridge LLC. for $35.9M.

El Rancho Co. Acquires 51K SF Peoria Crossings in West Valley for $14M

El Rancho Company purchased Peoria Crossings Power Center, a 51,200 square-foot retail property at NWC 91st Ave & Northern Ave in West Valley, from Peoria Crossings Development LLC for $13.7M.

Colliers International’s Brian Mason represented the buyer, El Rancho Company.

Faris Lee Investments’ Jeff Conover represented the seller, Peoria Crossings Development LLC.

Alex Done Deals

Dollar Tree Leases a Total of 37K SF of Retail Space in Four Separate Transactions

SRS Real Estate Partners’ Kurt Kalocin represented Dollar Tree in four separate lease transactions totaling 37,469 square feet of retail space.

Dollar Tree’s new leases include:

• Chandler Festival - East Valley - 10,800 SF

• Cotton Plaza - West Valley - 10,204 SF

• Bell Camino Shopping Center - West Valley - 8,625 SF

• SWC Guadalupe Rd & Hawes Rd - East Valley - 7,840 SF

Loopnet Price Increases - 300% to 500%

Excerpt: ...I am going to reduce my exposure on Loopnet by half and abandon the Loopnet Premium search features; this way my monthly Loopnet costs only rise from my current rate by 75%. Then I am going to use Xcelligent for their search tools and monitor how well their listing tools come online. I will continue to list in Catalyst which is supported by our local Commercial Realty Board and experiment with Commercial Source (now aligned with Xcelligent) and Property Line.

Join the discussion on Reddit.


Arizona Commercial Real Estate Discussion Board

Launched about 2 weeks ago, we have a subreddit dedicated to the discussion and promotion of Arizona Commercial Real Estate.

If you’re familiar with Reddit, then you know that this is a great platform for sharing a variety of topics.

If you’re not familiar with Reddit, the website calls itself, “The front page of the internet.” Unlike most social media platforms, you don’t follow people or companies, you follow topics of interest. It’s a great way to share what you know and learn something new.

Join the discussion on r/ArizonaCRE.