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Commercial Real Estate News 11-29-16

Credit: CBRE

cre-11-29Sales Transactions

1. Scottsdale-based Everest Holdings has purchased the 512-unit multifamily community Biscayne Bay from an entity of Seattle’s PrivatePortfolio Group for $71.5M from. The seller was represented by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office. The property is located at 300 E. Warner Road, Chandler.

2. DiNapoli Capital Partners purchased 296-unit Class A multifamily Alta Tempe community from Wood Partners for $67.9M. The seller was represented by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office. The property is located at 1260 E. University Drive.

3. An entity of PrivatePortfolio Group purchased Elevation on Central, a 266-unit Class A multifamily community at 4650 N. Central Ave., Phoenix, from Vedura Residential, for $60M. The seller was represented by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office.

4. Principal Global Investors has purchased the 393KSF Opus Airport Industrial warehouse facility at 3333 S. 7th St., Phoenix, from Opus Development Company for $32.7M.

5. FW Group of Seattle purchased the Dorinda Vista multifamily community on North Mona Lisa Road, Tucson, for $29.7M, or $109,645/unit, from Prime Residential of San Francisco, represented by Art Wadlund and Clint Wadlund of Berkadia’s Tucson office.

6. A consortium of M-CountryCorners 1 LLC, M-CountryCorners 2 LLC and M-GlendaleX No.1, LLC has purchased two single-tenant, net-leased Goodwill retail locations at 6161 W. Bell Road, Glendale, and 2933 S. 99th Ave., Tolleson, for $12.3M. The sale included an additional parcel of 27KSF next to the Tolleson location. The seller was Yorktown Corporation. Joseph R. Compagno, Barry Gabel and Chris Marchildon of CBRE’s Phoenix office represented both sides.

7. Fenix Development has purchased land occupied by LA Fitness at 13220 N. Scottsdale Road, Scottsdale, for $9.85M. Fenix was represented by Brent Moser, Mike Sutton and Brooks Griffith of Cushman & Wakefield. The seller was Bayport Scottsdale Road Associates, LP.

8. 9221 Icon LLC, Scottsdale, has purchased the $45.7KSF Calendar Stick Park office building, 9221 E. Via de Ventura, from 40/86 Inc. of Carmel, Ind., for $2.5M. The sale was brokered by Larry Downey, Greg Mayer and Brett Thompson of Cushman & Wakefield. The building was constructed in 2015.

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