Western Real Estate Business

SEP 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C A L I F O R N I A 28 • September 2018 • Western Real Estate Business www.REBusinessOnline.com S O U T H W E S T WOOD PARTNERS OPENS 223-UNIT ALTA CENTRAL APARTMENT COMPLEX PHOENIX — Wood Partners has celebrated the grand opening of its Alta Central, a multifamily commu- nity located at 4001 N. Central Ave. in Phoenix. Alta Central features 223 apartments in a mix of one-, two- and three-bedroom floor plans. Ameni- ties include Amazon package lockers, electric car charging stations, compli- mentary Wi-Fi throughout the com- mon areas and a lounge with a 13-foot television and NFL Sunday Ticket. Additional on-site amenities include a pool and spa with towel service; a rooftop pet area with a dog wash, grooming station and fenced dog run; a 24-hour fitness facility with spin room and yoga room; outdoor fire pit; and an outdoor game court. TCC BUYS SITE FOR 554,000 SF INDUSTRIAL DEVELOPMENT PHOENIX — Trammell Crow Co. (TCC) and an institutional investor have acquired a 38.5-acre site near the southeast corner of 59th Avenue and Lower Buckeye Road in Phoe- nix's Southwest submarket. The price was not disclosed. The partnership plans to develop West 202 Logistics Center, a 554,000-square-foot indus- trial building, on the site. The cross- docked building will feature 36-foot clear heights, signature office entries, all-concrete truck courts and circu- lation drives. Construction is slated to begin this quarter. Butler Design Group will serve as the project archi- tect and Willmeng Construction as general contractor. Comerica Bank is providing construction financing. Pat Feeney, Dan Calihan, Rusty Kennedy and Bill Bayless of CBRE Phoenix are marketing the project on behalf of the joint venture. REALCOMM ADVISORS FACILITATES $2.4 MILLION SALE OF INDUSTRIAL PROPERTY NORTH LAS VEGAS — RealComm Advisors has arranged the sale of an industrial property located at 3890 E. Craig Road in North Las Vegas. Gold- fish West LLC acquired the property from Walritz LLC for $2.4 million. Mike De Lew and Greg Pancirov of RealComm Advisors represented the seller and buyer in the deal. PASTERNACK + ASSOCIATES TO DEVELOP $300 MILLION, 3.6 MSF INDUSTRIAL PARK PHOENIX — Irwin G. Pasternack AIA + Associates PC (Pasternack + Associates) is developing TEN Dis- tribution Center 1, a $300 million, 3.6 million-square-foot industrial park in Phoenix. Graycor Construction Co., serving as general contractor, has lifted and secured 68 of the 182 con- crete panels that will make up the 1.1 million-square-foot Phase I building at the park. The concrete tilt panels are all prepared and cast on site by Graycor, which started roofing and fire sprinkler install sequencing this month. Additionally, the company has completed the first portion of the roof structure along with the installation of a 1.5-mile water main. Completion of the first building is slated for Decem- ber. When completed, TEN Distribu- tion Center 1 will offer modern, cross- docked industrial space, 40-foot clear heights and high-volume trailer stor- age. The master plan for the indus- trial park totals more than 3.6 million square feet across six Class A indus- trial buildings ranging from 175,000 square feet to 1.1 million square feet and 15 retail, restaurant and service tenants. Located in Phoenix, Alta Central features 223 apartments in a mix of one-, two- and three-bedroom units.

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