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PHOENIX-In a rare opportunity, a user acquires an 84,458-sf office building in the prestigious but hard-hit Camelback Corridor. Crescent gets the check and a non-core asset stripped from the portfolio.
HOUSTON-The hot pursuit for the 22-year-old Celebration at Westchase no doubt was linked to its 95% occupancy and ample room to grow the rent. Buyer BH Equities is honing in on a renovation to do just that.
PHOENIX-The 54,979-sf, 95%-occupied Chandler Business Park brings $2.8 million and the 44,069-sf, 75%-leased Roeser Business Park in Phoenix goes for $2.7 million. International Capital Partners of Scottsdale makes the buys.
WESLACO, TX-The Knapp Medical Center undertakes a renovation and expansion of its emergency room area. The 28,000-sf project will be done in October 2003. The Dallas team for McCarthy Building Cos. gets the job.
HOUSTON-The Arizona-based developer's tract is at the East Houston intersection of Wood Forest Drive and Maxey Road. The plan for the land is to build the 381st Walgreens in Texas.
TEMPE, AZ-A Phoenix couple uses a 1031 Exchange to acquire a 23,851-sf office building at 4801 Lakeshore Dr. in Tempe. Seller Equus bought the building in 1999 and is selling it as part of a push to unload smaller properties for larger ones.
PHOENIX-The lone broker says it's a win-win for buyer and seller. The buyer was seeking a good Phoenix property for a 1031 Exchange and the seller was looking to "capitalize on the strong real estate market.
TUCSON-The firm's managing director in Phoenix has been chasing the niche play for a decade. At last, the right team leader has come along. For 25 years, attorney Andrew A. Brodkey has been mining the fields that CBRE wants to tap.
HOUSTON-Dominion Steel Specialties has picked a single-tenant building at 5978 Armour Dr. in Houston, where it will distribute and store imported wire binding for its shipping industry customers.
PHOENIX-The Phoenix buyer intends to sell pad sites on the 9.2-acre tract and naturally find a tenant for the 99,510 sf of retail space, now vacant due to Home Depot's move right across the street from 4240 W. Camelback Rd.