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    AZBEX
    Home » Commercial Real Estate » Commercial Real Estate News 06-04-24
    Commercial Real Estate

    Commercial Real Estate News 06-04-24

    BEX StaffBy BEX StaffJune 4, 2024No Comments2 Mins Read
    1. Home2 Suites Downtown. Credit: CBRE
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    Sales Transactions

    1. CBRE Hotels Institutional advised Anish Hotels Group in the $43.3M sale of the 148-room Home2 Suites by Hilton Phoenix Downtown. Hotel real estate investment trust Chatham Lodging Trust acquired the property. CBRE’s Carter Gradwell, Jennifer Bergamo and Rick Rush advised the seller. Island Hospitality Management will manage the hotel.

    2. CapRock Partners announced the nearly $32M sale of Longbow Industrial Park, a 244KSF industrial complex in Mesa. Stein Koss, Tom Louer, Marc Pierce and Fenton Kelly of Lee & Associates represented CapRock Partners.

    3. Newmark arranged the $24.5M sale of 3200 Central, a 25-story, 350KSF office tower in Phoenix. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark represented the seller, DPC. DPC originally purchased the property for $49M in 2016.

    4. Max Schumacher, Patrick Sheehan and Jack Hansen of Rein & Grossoehme represented the seller in the $2.3M sale of 1974 E. Deer Valley Road, a 1.41-acre contractor facility in Phoenix. Neither the buyer nor seller were disclosed.

    Lease Transactions

    5. Chamberlain University announced the leasing of 20410 N. 19th Ave., a 44KSF office park in Phoenix. The university is undertaking tenant improvements on the location. Clayco is the general contractor. Lamar Johnson Collaborative is the architect.

    6. Mediterranean Shipping Co. signed a lease to occupy 28KSF of the sixth floor of 777 Tower in Tempe. The Greater Phoenix Economic Council, Arizona State University and Arizona Commerce Authority worked to recruit Mediterranean Shipping for the lease.

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