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| May 23, 2012 |
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| BANK OF AMERICA NORTHWEST LENDING CENTER SELLS FOR $5.2M |
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HILLSBORO, ORE. -- Bank of America Northwest Lending Center, a 57,000-square-foot office building in Hillsboro, has sold to Watumull Properties Corp. for $5.2 million. The building is located at 21000 Northwest Evergreen Parkway. It was built in 1985 and gained an addition in 1993. The property is fully occupied by Bank of America. Keith Young and Cliff Finnell of Kidder Mathews represented both the buyer and the seller, Oregon Pacific Investment & Development Company, in this transaction.
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| TIMBERLINE PLACE SELLS FOR $8.5M |
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FLAGSTAFF, ARIZ. -- Timberline Place, a fractured luxury condominium project in Flagstaff, has sold to SWRE Deal IV, LLC for $8.5 million. The LLC purchased 102 luxury condominium units in the complex, which is located at 4343 E. Soliere Ave. The project contains 204 total units - 102 of which were available for bulk purchase - and was built in 2000. The complex resides within the Continental Country Club community. The seller, Aspen Timberline II, LLC, was represented by David Fogler and Steven Nicoluzakis, with Cassidy Turley’s Multi-Family Service Group.
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| U-HAUL BUYS 60,000-SF FACILITY IN OREGON FOR $3.6M |
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SHERWOOD, ORE. -- U-Haul has purchased a 60,000-square-foot facility in Sherwood from Tercek Properties for $3.6 million. The company plans to use this space as a full-service facility with storage, vehicle rentals and trailer hitch installation. The sale was brokered by Scott Finney of Norris & Stevens.
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| MOUNTAIN RANCH MEDICAL COMMONS TO OPEN IN GOODYEAR |
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GOODYEAR, ARIZ. -- Mountain Ranch Medical Commons, an 18,000-square-foot, Class A medical office facility, is going to be developed within the mixed-use, master-planned community of Goodyear. It will reside on 5.3 acres. The official groundbreaking is scheduled for fall 2012 with a mid-2013 opening date. Mountain Ranch is being developed by Irgens. The land inside Estrella was purchased from Newland Communities, while Banner Health will serve as the anchor medical tenant. It is being designed by architect 33 North. Bruce Campbell of CBRE is serving as the listing broker for the balance of the project.
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| FALCON COMMERCE PARK SELLS FOR $1.9M |
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MESA, ARIZ. -- Falcon Commerce Park, a 33,340-square-foot, two-building industrial project in Mesa, has sold to L’Argent LLC for $1.9 million. The park is located at 1656 North Banning and 1655 North Rosemont. L’Argent was represented by Mike Parker of Colliers. The seller, Arizona Graystar Return, LLC, was represented by Paul Boyle and Rick Danis of Cassidy Turley BRE Commercial’s Capital Markets Group.
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