Intercon West Realty Advisors in the News Three-Month Owner Flips Trophy for $129M PHOENIX — For the second time in three months, Downtown’ s 26-story One Renaissance Square has been sold to an out-of-state buyer. First-time V alley buyer Pauls Corp. of Denver picked up the trophy for $128.8 million or $8.8 million more than Los Angeles-based seller Maguire Properties paid for the building just three months ago. >> more Esplanade III Passes for $51M to Chicago Investor PHOENIX — In one of the largest office transactions this year in the Valley, the 10-story, 217,548-sf Esplanade III has sold to Chicago-based Hearn Co. for more than $51 million. The seller is 4501 Northpoint LP, a fund managed by Prudential Real Estate Investors, which acquired the property in 1997 from developer Opus West Corp. >> more $31M Buys Valley Corporate Center SAN DIEGO —VCC Investors LP, a partnership of the Birtcher Anderson Co. that acquired Valley Corporate Center around 18 months ago for more than $24 million, has just sold the Mission Valley office asset to The Hearn Co. for nearly $31 million. >> more Boston Investor Buys Esplanade III for $77M PHOENIX — One year following its acquisition of the 217,500-sf Esplanade III for $51.25 million, the Chicago-based SD Esplanade III Office Center LLC has sold the near 100%-leased class A office property to AEW Capital Management LP for $77 million. >> more 262,785-SF Biltmore Commerce Center Fetches $59M PHOENIX — TIAA-CREF has sold Biltmore Commerce Center, a 262,875-sf, class A office building to the Muller Co. of Southern California, and its New York City based equity partner, BlackRock Inc., for $58.8 million. Muller has a $500-million portfolio in Greater Phoenix, but it's BlackRock's first office investment in the area. >> more 266,000-SF Bank Tower Commands $48M PHOENIX — The Hearn Co. of Chicago closes on another area asset, forking over $47.5 million to acquire the 266,000-sf, 16- story National Bank Tower Plaza. Hearn, which sold Esplanade III once tower earlier this year, acquired the class A building from a joint venture between the Greenwich, CT - based UBS Realty Investors LLC and local firm, Grossman Properties. >> more Sunvest Buying, Flipping 504-Unit Villas GLENDALE, AZ — Following a nine-month escrow period, Sunvest Communities USA today will follow through on its plan to buy the 504-unit Villas at Camelback Crossing for $62.75 million. But, the plan now calls for an immediate flip to a San Diego investor for $64.7 million due to the condo market slowdown. >> more