Regions  Southwest | Phoenix
Phoenix-Area Medical Office Park Sold
Aug 04, 2009

Arrowhead Professional Park, a 40,000-square-foot medical office complex in Glendale, Ariz., has been sold to Jomike Realty Co. Marking the New York-based buyer’s initial foray into the metro Phoenix market, the property was sold by locally-based Arrowhead Health Office Properties L.L.C. The four-building complex is currently fully-leased to four separate tenants under 10-year triple-net leases. Marc Bonilla, associate vice president with Colliers International’s Scottsdale office, represented the seller in the $12.1 million deal. Meanwhile, Eric Wichterman and Ann Sondrol of Grubb & Ellis Co. represented the buyer.

 
Recent Phoenix Headlines
In Struggling Hospitality Market, Arizona Resort Moving Forward with $600M Renovation Plan
Jul 06, 2009
The currently anemic state of the hospitality sector has been well documented for some time now. Doubly stung by a sharp slowdown in both business travel and tourism—as well as the financing problems that have plagued the commercial property sector as a whole—it seems clear that the sector is in the midst of one of its toughest periods ever. The struggling state of the market, though, is apparently not discouraging the owners of the Arizona Biltmore Resort & Spa from moving ahead with a planned $600 million renovation project. Also undeterred is the Phoenix City Council, which okayed the plan late last week.
Transwestern Wins Nearly 500,000-SF Property Management Assignment
Aug 04, 2009
Transwestern has been awarded management of One Central Park East, a 485,720-square- foot office project Mesirow Financial Real Estate is constructing at 50 East Van Buren in Downtown Phoenix. Under construction and scheduled to open in the third quarter of 2009, the 26-story Class A property will also include 9,000 square feet of retail space and an executive fitness center. A recipient of the AIA Western Mountain Region Design Citation Award, it includes an advanced insulated window wall glass system featuring exterior horizontal and vertical shade fins to combat the harsh Phoenix sun.
Phoenix-Area Medical Office Park Sold
Aug 04, 2009
Arrowhead Professional Park, a 40,000-square-foot medical office complex in Glendale, Ariz., has been sold to Jomike Realty Co.
McShane Completes 186,000-SF Office Complex in Phoenix
Apr 21, 2009
On behalf of the owner, SCF Arizona, McShane Development Co. completed the six-story, 186,000-square-foot Class A office complex, located at 44th and Washington Streets in Phoenix, Ariz.
 
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