California companies trade Ahwatukee property for $63M

Brad Feinberg

Pinnacle South Mountain

The 552-unit Pinnacle South Mountain flat complex has actually been sold with regard to $63 million.

The sale entailed 2 northern California companies.

The buyer was San Francisco-based FPA Multifamily. The seller was Palo Alto-based Essex Property Trust.

CBRE brokers Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch negotiated the sale.

The complex was produced in 1995 and 1997 by Trammell Crow and BRE.

There continues to be lots of landlords purchasing and selling Phoenix-location flat complexes.

A Class B 176-unit complex in Apache Junction likewise was just recently sold with regard to $9.7 million.

The Indian Wells complex was acquired by an arm of Scottsdale-base ReNue Properties.

The seller was Miami Beach-based LNR Partners LLC. The complex was originally produced in 2001 under a federal low-earnings real estate tax obligation routine however fell in to foreclosure.

Colliers International brokers Bill Hahn, Jeffrey Sherman and Trevor Koskovich negotiated that sale.

Mike Sunnucks writes regarding residential and industrial genuine estate, government, law, sports company and office issues.

“The Marvel Experience” Thanks Phoenix/Scottsdale Fans for Their Support

“The Marvel Experience” Many thanks Phoenix/Scottsdale Supporters with regard to Their Support

Jan 12, 2015 – 23:14 GMT

“The Marvel Experience” Many thanks Phoenix/Scottsdale Supporters with regard to Their
Hyper-Fact Attraction Connects along with over
50,000 Supporters in Never-Before-Gone to Touring Attraction
Hero Ventures, the developing group behind The Marvel Sustain (TMX),
the world’s initial hyper-Fact attraction, would certainly enjoy towards Say thanks to the
50,000 plus neighborhood fans, households after that overall audience who came out to

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Kona Grill’s preliminary 4Q sales up 29%

Kona Grill CEO Berke Bakay

Scottsdale-based Kona Grill Inc. brought in $31.5 thousand in sales in the last quarter of 2014, according to the company’s preliminary numbers which were announced Monday.

Restaurant sales boosted nearly 29 percent from $24.5 thousand in the 4th quarter 2013 to $31.5 thousand in 2014. Same-save sales boosted roughly 3.1 percent compared to an enhance of 3.5 percent in the 4th quarter of 2013.

This was a great method to end the year with regard to Kona, which boosted sales by 21.2 percent, along with $119.1 thousand in 2014 compared to $98.3 thousand in 2013. Kona (Nasdaq: KONA) opened 7 brand-new bistros due to the fact that October 2013.

“with regard to the 4th quarter of 2014, standard regular sales of our non-comp base bistros exceeded the standard regular sales of our comp base bistros which is further proof that our brand-new create and genuine estate initiatives are generating solid interest from our customers,” stated Kona Grill Head of state and CEO Berke Bakay. “Offered our solid fiscal year 2014 sales and our year-over-year acceleration of unit progression to accomplish our twenty percent target, we believe our uniquely placed tip is poised to go on its restaurant sales development energy in to 2015 and beyond.”

Kona will certainly hold its annual investors conference in Orlando on Tuesday. The firm will certainly officially launch its 4th quarter earnings Feb. 11.

Brandon covers retail, restaurants, hospitality/tourism also aviation, little company and nonprofits.

Super Scottsdale: 5 musts if you’re going for Super Bowl or any time

Very Scottsdale: 5 musts if you’re opting for Very Bowl or any kind of time

Jan 11, 2015 – 14:26 GMT

Eyes will certainly perform Arizona on Feb. 1, specifically regional eyes if the Environment-friendly Bay Packers gain it to the 49th Very Bowl, whom kicks off in Glendale. Yet nearby Scottsdale will certainly be celebration main when it come to fans. That time TELEVISION cameras will certainly be trained on Scottsdale’s Southbridge recreation location merely as folks were in 2008 once the sizable game additionally concerned the Valley of the Sun.
Amongst the Scottsdale …
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Groupon opening Phoenix sales office, hiring 20

Provided by Groupon

Darren Schwartz, senior vice president of north American sales for Groupon, said Phoenix will certainly be the sixth Groupon sales office in the U.S. and Canadian markets.

Groupon is opening a Phoenix sales office and hiring twenty full-time sales representatives to extend the company’s relationships along with regional businesses.

This will certainly be the sixth Groupon office in the U.S. and Canadian markets, along with the initial sales office in the Mountain time zone, said Darren Schwartz, senior vice president of North American sales for Groupon.

“Groupon loves Phoenix and Phoenix loves Groupon,” Schwartz said in an email. “It’s a thriving Leading 10 market for us, and opening a sales office there offers us along with better coverage across various time zones to extend our relationships along with regional businesses.”

The Chicago-based deals business is still looking for an exact place for the office, yet expects it to be within the better Phoenix/Scottsdale area. The office is planned to open in February, Schwartz said.

Initially, Groupon (Nasdaq: GRPN) strategies to hire twenty full-time inside sales reps. The business is seeking “tenacious” people along with “strong” negotiation skills, diligence and experience in a business-to-firm sales organization.

Applications are being accepted now and a task reasonable will certainly be held Jan. 19-22 at Scottsdale Marriott Suites Old Town.

Applicants need to use in advance here and will certainly be alerted if they’re eligible for an interview throughout the task fair.

Groupon initial debuted in the Phoenix market in August 2009. The business is currently featuring much more compared to 2,800 regional deals in the Phoenix market, and much more compared to 15,000 regional Phoenix location merchants have actually been featured on the site.

Groupon operates in much more compared to 45 countries, and additionally has actually offices in Brand-new York, Palo Alto, California; San Francisco and Seattle.

Hayley Ringle covers technology and startups for the Phoenix firm Journal.