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Commercial Real Estate Transactions 02-19-2019

12. Wounded Warrior Project. Credit: JLL

Sales Transactions

1. Northstar Commercial Partners sold a 418.7KSF distribution building at West Valley Logistics Center, 12000 N. 132nd Ave, Surprise, to Dalfen America Corp for $24.1M. Anthony Lydon, Bill Honsaker and Ryan Gilbert with Jones Lang LaSalle represented both the buyer and seller in the transaction.

2. Cushman & Wakefield completed the sale of North Hayden Commerce Center, a single-story, 103.5KSF building at 14000 N. Hayden Road, Scottsdale, for $16.4M. Hayden Center Investments purchased the property from 14000 N. Hayden Road, Scottsdale, LLC, a company formed by iStar Financial Inc. Paul Boyle, Rick Danis, and Michael Kitlica, with Cushman & Wakefield, brokered the deal on behalf of the seller. Randy Shell of Shell Commercial represented the buyer.

3. The 49.5KSF ADP building located in Williams Centre, 5452 East Williams Blvd, was sold to Allegretti & Company, Inc. by Pacific Service Company, Inc. and WCCP Williams Tech, LLC, for $11.025M. The class-A office building is 100% occupied by Automatic Data Processing (ADP). Andrew Fosberg of CBRE’s Phoenix office and Nancy McCLure of CBRE’s Tucson office represented the seller in the transaction. Phil Skillings of NAI Horizon’s Phoenix office represented the tenant.

4. Hung N Tran and Nina Tran purchased Sierra Pointe Apartments, an 84-unit apartment complex at 2350 E Water Street in Tucson, from Mainstay Investments, LLC for $5.2M. Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller.

5. Walter & Sons LLC of Tucson bought a 45KSF industrial building at 4551-4571 S. Alvernon Way from HS-Tucson AZ LLC, an affiliate of Holoaloa HDS LLC, for $3.865M. Russell W. Hall and Stephen D. Cohen, with Picor, represented the buyer. The late William Di Vito, with CBRE, represented the seller. The building will be owner occupied by Rite Way Heating, Cooling & Plumbing.

6. Cushman & Wakefield sold an 8KSF retail pad at Boulevard at Surprise Pointe, located at the SEC of Litchfield Road and Waddell Road in Surprise. Old Republic Exchange Company purchased the property from Surprise SE, LLC, an entity formed by CIRE Equity, for $2.1M. Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

Lease Transactions

7. Arizona Pipeline Company leased 2.13 acres at 2475 W. Placita Desierto Morado in Tucson, from T DVLP, LLP. Max Fisher and Ron Zimmerman, Industrial Specialists with Cushman & Wakefield | PICOR, handled the transaction.

8. Cushman & Wakefield announced that WellCare Health Plans, Inc. signed a 10-year, 81.3KSF lease at Two Gateway Center in Phoenix for $23M. On behalf of WellCare Health Plans, Inc., the transaction was completed by Larry Downey and Brett Thompson of Cushman & Wakefield’s Phoenix office and Dave Johnson and Liz Osborne of Cushman & Wakefield’s Denver office. Jerry Roberts and Pat Boyle of Cushman & Wakefield’s Phoenix office represented the landlord, Lowe Enterprises Inc.

9. The University of Arizona is expanding their Nursing Degree Program by leasing 15.5KSF of space at the Park Gilbert Campus. UA will occupy the whole third floor of the University building.

10. Bath Planet of Tucson, LLC sub-leased 14.5KSF at 1861 W. Grant Rd., Suite 105 in Tucson, from Custom BackOffice Solutions. Max Fisher and Ron Zimmerman, Industrial Specialists with Cushman & Wakefield | PICOR, handled the transaction. Max Fisher represented the landlord; Ron Zimmerman represented the tenant.

11. SouthernCarlson, Inc. leased 10KSF at 1140 N. Industrial Park Dr. in Nogales, from Nogales Property Management. Denisse Angulo-Badilla, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant; Sam Arthur with Cushman & Wakefield Chicago, represented the landlord.

12. The Phoenix office of JLL has completed a lease and tenant improvement that relocates the Phoenix offices of veteran support organization Wounded Warrior Project to 777 E. Missouri Ave., Phoenix. JLL Associate Brokers Kyle Seeger and John Lydon, with JLL Executive Vice President Ryan Bartos, represented WWP in the lease transaction. JLL Project Manager Carmen Armstrong directed the tenant improvement project on behalf of the JLL Project Development Services team. The owner of the building, Missouri 7, is Douglas Allred Company.

Closures

13. Food and drink giant Nestle confirmed that it had shuttered the $35M facility at 43rd Avenue and Buckeye Road less than three years after it opened.

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