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Intravest Takes N. Phoenix Flex Building for $19M

Intravest Takes N. Phoenix Flex Building for $19M

Intravest Development L.LC. has purchased a 145,000-square-foot flex industrial building in North Phoenix. This $19.06 million acquisition marks the first commercial asset in the investor’s portfolio, the Phoenix Business Journal reported. Robert Lundstedt of Daum Commercial represented Intravest in the transaction. Johnson Bank provided financing for the buyer.…

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Contested $17M Senior Housing Project Breaks Ground in Mesa

Contested $17M Senior Housing Project Breaks Ground in Mesa

Mesa officials broke ground Oct. 29 on a $17 million senior living center in the city’s Downtown. Dubbed the Residences at Center Street Station, the five-story project is being developed by Mesa Housing Associates and Encore and is scheduled for completion by October 2013, the East Valley Tribune reports.…

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Banner Health Group Starts $45M East Valley Expansion

Banner Health Group Starts $45M East Valley Expansion

Banner Health Group is expanding its East Valley presence with a $45.2 million quartet of healthcare centers in Chandler, Gilbert, Mesa and Queen Creek. The Phoenix-based company broke ground Oct. 24 on all four facilities, the East Valley Tribune reported.…

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Archway Holdings Buys Glendale MOBs from Ventas for $20M

Archway Holdings Buys Glendale MOBs from Ventas for $20M

In a $20 million deal, Archway Holdings Corp. has acquired Arrowhead Health Center, a 103,216-square-foot, two-building complex located near Arrowhead Hospital in Glendale, from Ventas Inc., the Phoenix Business Journal reported. Formerly known as Arrowhead Orchards, the complex is about 65 percent leased, a level that Archway believes offers growth…

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Allred Starts 2nd Spec Project of 2013 at Chandler Office Park

Allred Starts 2nd Spec Project of 2013 at Chandler Office Park

Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler--a 69,000-square-foot speculative office building. The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the Phoenix Business…

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Weidner Adds Chandler Complex to Growing Arizona Portfolio

Weidner Adds Chandler Complex to Growing Arizona Portfolio

In a $27.3 million deal, an affiliate of Weidner Apartment Homes has acquired Dobson Towne Centre, a 240-unit luxury apartment property in Chandler. CBRE Group Inc. represented Weidner in the transaction, which was financed with a $20.7 million Fannie Mae loan.…

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$52M Student Housing Project Given Name: Roosevelt Point

$52M Student Housing Project Given Name: Roosevelt Point

A $52 million student housing project in downtown Phoenix got two major boosts a week ago. Six months after it broke ground, the project finally has a name: Roosevelt Point.…

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Agua Caliente, World’s Largest Solar Plant, Hits Milestone

Agua Caliente, World’s Largest Solar Plant, Hits Milestone

By Camelia Bulea, Associate Editor The Agua Caliente solar project—the world’s largest photovoltaic power plant currently in operation—has achieved 250 megawatts of grid-connected power out of a total capacity of 290 megawatts. Built by First Solar Inc. on a 2,400 acre-site between Yuma and Phoenix, the plant started operation in January, when…

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Shea Homes to deliver 250 homes at Johnson Ranch

Shea Homes to deliver 250 homes at Johnson Ranch

By Camelia Bulea, Associate Editor In July, builders nationwide sold new homes at an annualized rate of 372,000, a 3.6 percent gain compared to the 360,000 sold in June and a year-over-year increase of 25.3 percent, according to the U.S. Census Bureau. The report, quoted byCNNMoney, states that existing home sales…

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$90M Amazon Buy is Latest in Industrial REIT’s Local Spree

$90M Amazon Buy is Latest in Industrial REIT’s Local Spree

By Camelia Bulea, Associate Editor Denver-based Industrial Income Trust Inc. acquired a 1.26-million-square-foot Amazon distribution facility in a $90.3 million deal, the Phoenix Business Journal reported. At $71.25 per square foot, the price is the highest ever commanded by a spec industrial building in the metropolitan Phoenix market, Cushman & Wakefield…

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Intel Corp. Adds $300M R&D Facility at Chandler Campus

Intel Corp. Adds $300M R&D Facility at Chandler Campus

By Camelia Bulea, Associate Editor Intel Corp. is investing $300 million in a new research-and-development facility at its campus in south Chandler, thus further expanding its footprint in the city where it has had a presence since 1979. The facility is currently under construction at the technology giant’s Ocotillo campus. AZCentral.com reports that the…

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JPMorgan Sells Luxury M-F Asset in Ahwatukee for $61M

JPMorgan Sells Luxury M-F Asset in Ahwatukee for $61M

By Camelia Bulea, Associate Editor Chicago-based Waterton Associates L.L.C. paid $61.3 million to acquire Andante Apartments, a 576-unit luxury apartment community in Ahwatukee. The price is the second-highest commanded by a multi-family asset in metropolitan Phoenix this year, bested only by the $68.8 million paid for the San Melia Apartments about…

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