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BH Properties Expands Arizona Footprint, Invests $55M

BH Properties of Los Angeles targeted investments further east — in Arizona — spending a total of $55.3 million for three properties in Phoenix since May 2019. The following have been added to BH Properties’ portfolio:

  • 252,300-square-foot Honeywell Aerospace DSES Campus, 19019 N. 59th Ave., Glendale. Lexington Realty Trust of New York, seller; Colliers’ Mindy Korth, broker.
  • 120,040-square-foot Northsight Financial Center, 14500 N. Northsight, Scottsdale. Invesco of Dallas, seller; CBRE’s Barry Gable, Chris Marchildon and Will Mast, brokers.
  • 61,316-square-foot Riverpoint Buildings #2, 3100 E. Broadway Rd., Phoenix. A joint venture between Vatnsdal Investments LLC and Myrna Investments LLC (Kansas), seller; Cushman & Wakefield’s Larry Downey, Brett Thompson, Eric Wichterman and Mike Cooker, brokers.

“We were excited to close three transactions with three different brokerage firms within weeks of each other,” said BH Properties’ Andrew Van Tuyle. “We’re looking to acquire over $100 million more in Phoenix in the near future.”

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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