Soundoff: Leaders talk big projects in the West Valley

Posted in Real Estate News on April 2nd, 2015 by admin – Be the first to comment

The Arizona Republic regularly asks West Valley leaders to share their thoughts on issues. This week’s Soundoff question: What is the most significant capital project in the works for your city this year? The Arizona Republic regularly asks West Valley leaders to share their thoughts on issues. This week’s Soundoff question: What is the most significant capital project in the works for your city this year? – more at http://azc.cc/1C4JQbd

Blackstone Is Said to Buy Three Hotels for $1.3 Billion

Posted in Real Estate News on April 2nd, 2015 by admin – Be the first to comment

Blackstone Group LP agreed to buy three high-end U.S. resorts for about $1.3 billion from a group led by Paulson & Co., according to a person with knowledge of the transaction. The properties are the JW Marriott and the Ritz-Carlton in Orlando, Florida, and the JW Marriott in Scottsdale, Arizona, said the person, who asked not to be identified because the deal isn’t public. – more at bloomberg.com

Hannay spends $600 + per foot for Scottsdale Road retail plaza

Posted in Real Estate News on April 2nd, 2015 by admin – Be the first to comment

Scottsdale – A limited partnership formed by Hannay Investment Properties in Phoenix (Craig Hannay, pres.) paid $14 million ($605.12 per foot) to acquire a 23,136-square-foot retail plaza located north of the northwest corner of Scottsdale Road and Lincoln Drive in Scottsdale. – more at brewaz.com

Grand Plans for Papago

Posted in Real Estate News on April 2nd, 2015 by admin – Be the first to comment

Lincoln Property Company has been selected to develop the final phase of one of the largest business parks in Arizona, The Grand at Papago Park Center, a 60-acre, high-profile, urban mixed-use property on the last developable parcel within the 350-acre Papago Park Center. At build-out, The Grand will have a total of 1.8 million square feet of Class A space in six buildings. – more at inbusinessmag.com

Midtown Office Tower Goes for $18M

Posted in Real Estate News on April 2nd, 2015 by admin – Be the first to comment

PHOENIX—Investors Warranty of America, Inc., a subsidiary of AEGON USA, has sold Security Title Plaza, 3636 N. Central Ave. in Phoenix. Heckethorn Towers, LLC, a unit of Reven Capital of La Jolla, purchased the 219,032-square-foot, 12-story office tower for $18 million. – more at globest.com