Middle Market Digest: This Week in Southwest

The high-price tag sales continued into this week in the Southwest markets. While there continue to be healthy deal volume throughout the region, YAM Properties LLC’ purchase of Westgate Entertainment District, Arizona’s premier sports and entertainment destination, for $133 million and New York Life Real Estate Investors’ purchase of 24th at Camelback, a 302,209-square-foot class-A trophy office tower in metro Phoenix’s Camelback Corridor for $100 million were among the most notable transactions. Here’s a look at this week’s trends, announcements and deals that you may have missed in Southern California, Utah, Arizona and Nevada.

NEW & NOTABLE

PHOENIX—Lou Newman has joined the valuation and advisory services team at JLL as SVP. He will be based in the firm’s Phoenix office and is a nationally recognized expert in the field of property tax. Newman will provide JLL’s clients with full service property tax consulting including due diligence, tax liability forecasting, proactive engagement with taxing authorities, administrative challenges, litigation, compliance, and guidance on exemptions, parcel reconfiguration, proposed construction, and transactions. Before joining JLL, Newman was a Senior Tax Manager for a leading retailer where he represented the company throughout the United States, led regional practices, managed tax policy related to legislation, and chaired training for the company’s Global Tax Controversy Center for Expertise. Prior to that, Newman was a national practice consultant. He also has leadership experience in the public sector. As the Supervising Appraiser in the Major Properties Division of the Office of the Maricopa County Assessor in Phoenix, Newman led the team in the management of administrative challenges and litigation.