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CREReport | Phoenix for November 12, 2014

CREReport | Phoenix

Commercial Real Estate Report for November 12, 2014

Construction Begins on 27-Townhouse Aerium Encore in South Scottsdale

Project developer, Landmark Homes USA, began construction on Aerium Encore, a 27-door condominium / townhouse project at S/SEC 70th St & Osborn Rd in South Scottsdale.

Los Alamitos Acquires 113-Unit Southern Ridge Apartments in Mesa for $6.5M

Los Alamitos purchased Southern Ridge, a 113-unit multifamily property located at S/SWC Gilbert Rd & University Dr in Mesa, from Right Place Properties for $6,510,000.

Coastal Group Acquires 150-Unit Hidden Cove Apartments in North Phoenix for $7.75M

Coastal Group purchased Hidden Cove, a 150-unit multifamily property at SW/SWC 19th Ave & Union Hills Dr in North Phoenix from Rosebud LLC for $7.75M.

Crown Castle Leases 70K SF of Office Space in Chandler

Crown Castle International leased 70,000 square feet of office space at E/SEC Gilbert Rd & Germann Rd in Chandler from LGE Design Build.

Colliers International’s Keith Lambeth, Todd Noel and Ryan Timpani represented the tenant, Crown Castle International.

LGE Design Build, landlord, was self-represented.

Zenefits Opening 100K SF Office in Galleria Corporate Centre in Old Town Scottsdale

Zenefits is opening a new 100,000 square-foot office in Galleria Corporate Centre at S/SEC Scottsdale Rd & Camelback Rd in Old Town Scottsdale.

Excerpt: 'I see Phoenix as the next major tech hub in the U.S.,' said Conrad, who also co-founded SigFig, an online financial adviser, and Wikinvest, a stock research wiki. 'There's so much talent here with other well-known tech companies. We decided Phoenix was really the place to be.'