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CREReport | Phoenix for November 24, 2014

CREReport | Phoenix

Commercial Real Estate Report for November 24, 2014

Top Stories from Fri, Nov 21

• Geyser Development Acquires 37.4K SF Continental Plaza in Mesa for $1.6M

• First Industrial Realty Trust Acquires 220K SF at Mack Arrowhead in Peoria for $18.3M

• Jackson-Shaw and LaPour Partners Acquire 11.5 Acres in Phoenix for $2.35M, Plan Industrial Project

• Alco Closing Seven Stores in Arizona

CREReport | Phoenix

Elevation Chandler Demolished, Hines Readies Construction of Chandler Viridian

Google Streetview of failed project, Chandler Elevation at SWC Loop 101 (Price Fwy) & Frye Rd in Chandler, AZ Bye-bye, Elevation Chandler (

Demolition of the Elevation Chandler was announced by Hines, developers of Chandler Viridian - the $150M mixed-use project to replace the abandoned project. Removal of the structure was expected to take 24 hours barring any construction delays.

PS Business Parks Announces Sale of Phoenix Assets Totaling 656K SF of Office Space

PS Business Parks announced the sale of three business parks totaling 42 buildings comprising +/-656,000 square feet of office space. Net proceeds after the sale total +/-$52.2M.

The company has one remaining 23,000 square-foot Tempe property in its Arizona portfolio which is already under contract to sell.

While specific details are not included in the press release, four properties have been removed from PS Business Parks’ website in the last month (more...)

CREReport | Phoenix

AMW Packaging Acquires 16K SF Industrial Building in Phoenix for $1.28M

AMW Packaging purchased a free-standing, 16,000 square-foot industrial building at N/NWC 32nd St & Southern Ave in Phoenix from Voytech Five LLC for $1.28M.

DAUM Commercial Real Estate Services’ Carl Johnson represented the both the buyer, AMW Packaging, and seller, Voytech Five LLC, in the transaction.

Logisticare Solutions Leases 21.3K SF Industrial Space Near Sky Harbor Airport in Phoenix

Logisticare Solutions, LLC leased 23,311 square feet of industrial space at NW/NWC SR-143 & University Dr - near Sky Harbor International Airport in Phoenix.

ICON Commercial’s Eric Ramer represented the tenant, Logisticare Solutions, LLC.

Commercial Properties, Inc.’s Leroy Breinholt, Darin Edwards and John G Soldo represented the landlord (undisclosed).

Commercial Properties Inc.

JLL Report: Phoenix Class A Office Properties Drive Demand

Excerpt: Tenants have been flocking towards these newer Class A properties, driving demand in submarkets that can offer open floorplates, collaborative areas and higher parking ratios. This flight to quality has been noted by developers who are racing to bring new modern space to market.

New Stores Opening in Tanger Outlets

Five new stores opening at Tanger Outlets, SEC Loop 101 & Glendale Ave in Glendale.

• Abercrombie and Fitch

• Ann Taylor

• Express

• Eddie Bauer Outlet

• Tilly’s

GlobeSt: Mark Seale Joins Cushman & Wakefield

Cushman & Wakefield announced that Mark Seale has joined their team as a senior director.