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Crow Holdings Buys N. Scottsdale Center for $38M

Crow Holdings Buys N. Scottsdale Center for $38M

By Camelia Bulea, Associate Editor Dallas-based Crow Holdings Capital Partners L.L.C has acquired Scottsdale Horizon, a 154,766-square-foot neighborhood retail center, in an all-cash transaction valued at $38 million. The buyer is a separate fund of Crow Holdings, a private wealth management entity affiliated with the estate of the late Trammell…

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Mayo Clinic Marks Milestone With Innovative Projects

Mayo Clinic Marks Milestone With Innovative Projects

By Camelia Bulea, Associate Editor The Mayo Clinic is building a $182 million proton-beam therapy center adjacent to its Phoenix hospital. The first treatment rooms are expected to open by 2016, followed by additional rooms the next year. Additionally, the non-profit clinic plans to add a medical-school branch campus in…

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Mesa Breaks Ground on $99M Chicago Cubs Ballpark

Mesa Breaks Ground on  $99M Chicago Cubs Ballpark

By Camelia Bulea, Associate Editor Construction of the $99 million baseball park in Mesa that will be the spring training home of the Chicago Cubs officially kicked off July 11 with a groundbreaking ceremony hosted by city leaders and officials of the Major League Baseball team. Located on Dobson Rd.…

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Angelo, Gordon and Slavin Pay $43M for Multi-Family Asset

Angelo, Gordon and Slavin Pay $43M for Multi-Family Asset

By Alex Girda, Associate Editor In a $42.5 million deal, Angelo, Gordon & Co. L.P. and its partner, Slavin Multifamily Advisors LLC, have acquired  Villa Salerno Apartments in Northeast Phoenix from an affiliate of Colony Realty Partners, the Phoenix Business Journal reported. Constructed in 1996 by Mark-Taylor Development, the 412-unit…

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Globe Buys Chandler Property; MainSpring Sells Tempe Trio

Globe Buys Chandler Property; MainSpring Sells Tempe Trio

By Alex Girda, Associate Editor Scottsdale-based investment and private equity firm Globe Corp. is the new owner of a Chandler industrial property that it has acquired from Milgard Manufacturing Inc. in a $7.6 million deal, The Phoenix Business Journal reports. The building is part of the Westech Corporate Center near Arizona…

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Lincoln Inks 164,000 SF of Leases at Mesa Business Park

Lincoln Inks 164,000 SF of Leases at Mesa Business Park

By Alex Girda, Associate Editor Lincoln Property Co. recently completed 164,000 square feet in new leases and renewals at its Broadway 101 Commerce Park in Mesa. The firm has completed a new deal with PODS, an international moving and storage company, for 67,949 square feet at the complex at 2160 West…

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Arcadia Complex Hits Market; Held Takes Chandler Asset

Arcadia Complex Hits Market; Held Takes Chandler Asset

By Alex Girda, Associate Editor Arcadia Cove, a multi-family asset near the Phoenix Gateway Center and the upscale Arcadia neighborhood, has come to market with an asking price of $47.25 million, rentv.com reported. Located at 2522 North 44th Street, the 432-unit residential community was built in 1996 by Picerne Real…

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Hotel Palomar Opens, Boosts Downtown Convention Market

Hotel Palomar Opens, Boosts Downtown Convention Market

By Alex Girda, Associate Editor The two-block CityScape development has been completed with the grand opening of the $90 million Hotel Palomar Phoenix. Developed by RED Development and operated by Kimpton Hotels & Restaurants, the 242-key boutique hotel is part of the retail and office development at Central Avenue and…

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North Scottsdale’s First Green Building Commands $79M

North Scottsdale’s First Green Building Commands $79M

By Alex Girda, Associate Editor Canadian players are joining the ranks of institutional investors finding opportunities in metropolitan Phoenix. Artis Real Estate Investment Trust has acquired MAX at Kierland, a 258,912-square foot, Class A office building in North Scottsdale. The Winnipeg, Manitoba-based REIT paid $79 million for the six-story building, which…

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Sonora Village Retail Center in Scottsdale Trades for $46.5M

Sonora Village Retail Center in Scottsdale Trades for $46.5M

By Alex Girda, Associate Editor Sonora Village Investors, a partnership of investors Bob Mariash and Ryan Denk, has paid $46.5 million for Sonora Village, a 248,322-square-foot retail center in Scottsdale, the Phoenix Business Journal reported. Sonora Village’s previous owner, Westwood Financial Corp., has sold six retail properties in Arizona during…

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Excel Realty Buys Lake Pleasant Pavilion Shopping Center in Peoria for $42M

Excel Realty Buys Lake Pleasant Pavilion Shopping Center in Peoria for $42M

By Alex Girda, Associate Editor Bringing its recent investments in the Phoenix area past the $200 million mark, Excel Trust Inc. paid $41.8 million for Lake Pleasant Pavilion Shopping Center in Peoria. National brands represented at the 373,000-square-foot property include Marshalls, Bed Bath and Beyond, Tilly’s, Kirland’s. SuperTarget, a 185,000-square-foot…

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Arizona Breaks into Top 5 States For Construction Spending: NAIOP

Arizona Breaks into Top 5 States For Construction Spending: NAIOP

By Alex Girda, Associate Editor A NAIOP Research Foundation report finds that Arizona ramped up commercial real estate development spending in 2011, pumping $4.2 billion into building new space. That total falls short of pre-recession levels, but it was good enough for fifth place, as the state trailed only Texas,…

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