Newmark Secures $151M In Financing For 30-Property Industrial Portfolio In Arizona

Via PHOENIX — Newmark has secured $151 million in financing for a 30-property industrial portfolio in Arizona. The portfolio contains more than 4 million square feet of space occupied by more than 1,000 tenants. The 15-year non-recourse loan features a rate below 4 percent. The portfolio is a mix of light industrial / manufacturing buildings with small to medium bay depths. The properties are located in Phoenix, Tempe, Mesa,

Maricopa Board of Supervisors Adopt Preliminary County Budget

Via Today my colleagues and I unanimously approved the county’s tentative fiscal year 2018 budget. The $2.49 billion budget makes significant investments in future growth while adhering to the county’s commitment to lean, customer-service oriented government. As chairman, my office worked for months with other elected officials and department managers to craft a budget that is both responsible and sustainable. Balancing a budget without raising the tax rate is

Arizona Lottery Testing Vending Machines At Arizona Motor Vehicle Division Offices

Via How do you pass the time while at the Arizona Motor Vehicle Division? Perhaps you scroll through your Facebook news feed, watch the people around you, but don’t actually make eye contact, or pray to the heavens that your number is called next. If all else fails, you could shell out more money and try your luck with the Arizona Lottery. That’s because the Arizona Lottery and the

Transportation Investments In East Valley

Via In the past, Valley residents would drive their own personal vehicles on the very limited number of freeways available to them. Now, anyone can get anywhere quickly with the enhancements of freeways, bus systems, on-demand services, the light rail and much more. The evolution of transportation in the PHX East Valley has helped drive the region. Over the past 10 years, bus systems have grown and the creation

IPA Brokers $55.2M Sale Of Indigo Creek

Via Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Indigo Creek, a 408-unit multifamily community in Glendale, Arizona. The $55.2 million sales price represents more than $135,000 per unit. “Indigo Creek is a vibrant, luxury multifamily asset that provides new ownership with the opportunity to enhance revenue through the continued implementation of the

Payless ShoeSource Will Close 7 Of Its Arizona Stores

Via Payless ShoeSource will close seven of its Arizona locations as it restructures nationwide operations after filing for bankruptcy. Last week, the shoe sales store announced the decision to close 400 shops across the country. “This is a difficult but necessary decision driven by the continued challenges of the retail environment, which will only intensify,” said Payless CEO Paul Jones. “We will build a stronger Payless for our customers, vendors

Arizona Cities Are the Happiest Places to Live

When it comes to the pursuit of happiness, the Phoenix area might be doing alright. Via According to a report by WalletHub, Valley cities like Scottsdale, Chandler and Gilbert are among the happiest places to live in the U.S. The study bases its findings off of metrics that fall into three primary categories: emotional and physical well-being, income and unemployment, and community and environment. Those are calculated by more

Bush Photo

Despite having inked deals near some of the best restaurant hubs in greater Phoenix, an Austin-based restaurant has picked the West Valley for its first Arizona location. Via Bush’s Chicken of Texas, a fried chicken chain, has chosen a location at 73rd Avenue and Bell Road in Glendale as its first out-of-state location, according to The Arizona Republic. The new location will open Monday, March 20. The fast-food restaurant, which

Glendale Cleans Up Landfill Operations!

In 2013, the Glendale City Council was advised by the city’s Department of Public Works staff that operations at the Glendale Municipal Landfill’s “south area” were approaching capacity and the closure of the southern portion of the landfill was eminent. Via Glendale city leaders moved forward and approved a plan that called for the seamless transitioning of all landfill operations from the near-capacity south area to the landfill’s north

AZ Hyperloop

Over 100 Arizona students are working together to compete in SpaceX’sworldwide Hyperloop pod competition to bring high-speed mass transportation to the state. Via AZLoop is the state’s competition team comprised of students from Embry-Riddle Aeronautical University in Prescott, Arizona State University in Tempe, Northern Arizona University in Flagstaff and Thunderbird School of Global Management in Glendale, said Lynne Nethken, AZLoop’s project co-lead. “We’re working our way through several qualifier