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PHOENIX—In this edition of Deal-Tracker, Cushman & Wakefield of Arizona, Inc. completes the nearly $5 million sale of the Glendale Shadows Apartments, 5902 W. Royal Palm Rd. The apartment building was constructed in 1975 and contains 138 units totaling 95,765 square feet.
EDGEWATER, NJ—Late news reports on NJ.com last night said New Jersey Gov. Christie and local officials were blaming the fire at Avalonbay Communities' Avalon at Edgewateron maintenance workers using a blowtorch to perform plumbing work. Edgewater's fire chief reportedly said the complex's wooden construction made the fire spread more quickly, but the company defended its construction as "standard, common, and safe," and "in accordance with the fire and safety codes applicable" at the time it was built.
ORLANDO—“Many lenders have a preference for portfolio lending to get out more dollars in one transaction,” HFF director Michael Weinberg, tells GlobeSt.com.
BOSTON—The Peebles Corp. reports it has been selected to develop Turnpike Air Rights Parcel 13, where it plans to build a mixed-use development called “The Viola Back Bay.”
MIAMI—The Commercial Real Estate Women recently handed out its top awards, including the $57-million sale of the 1400 and 1444 Biscayne Blvd. property in Miami.
SOMERSET, NJ–Bussel Realty Corp. and Gramercy Real Estate Services have brokered the sale of 62 Veronica Avenue, a 99,000-square-foot distribution facility in Somerset, NJ. The property has been converted from an owner-occupied single-tenant property to a multi-tenant facility. The previous owner is leasing back its space for an ongoing rug business.