Commercial Real Estate Transactions 04-16-2019

Sales Transactions

1. Millenium Management recently purchased the 590-unit San Sonoma apartment complex at 9101 S. Priest Dr., Tempe, for $71.3M. The seller was Kitchell Development.

2. Blackstone Group recently purchased the 333-unit Elevation on Plaza Del Rio apartment complex at 13310 N. Plaza Del Rio Blvd., Peoria, for $69.9M. The sellers were Vedura Residential and Olympus Properties.

3. Blackstone Real Estate Investment just purchased four Valley mobile-home parks for a total of $55M. They are:

• Grand Missouri Mobile Home Park – 4400 W. Missouri Ave., Glendale.
• San Juan Mobile Home Community – 10810 N. 91st Ave., Peoria.
• Mesa Village Mobile Home Park – 2701 E. Allred Ave.
• Paradise Valley Ranch Mobile Home Park – 16005 N. 32nd St., Phoenix

4. S2Capital recently purchased the 265-unit Modern on Gilbert apartment complex at 1800 E. Covina St., Mesa, for $30M. The seller was a joint venture between Modern Residential Co. and Henley USA.

5. Weingarten Realty acquired the 90.3KSF Safeway-anchored Madison Village Marketplace located at the NEC of 7^th St and Glendale Ave., Phoenix, for $20.3M, from Bayless Investment & Trading Company. The capital markets team of Ryan Schubert and Michael Hackett of Cushman & Wakefield closed the sale.

6. A North Scottsdale Bashas’ supermarket anchored retail center recently sold for $6.15M. ORION Investment Real Estate represented the seller, a partnership of Jeff Kitchen and Tiny Cap, LLC, a wholly-owned investment firm of Jim Mullin. Eric Termansen and McKenna Boyle Wesley of Western Retail Advisors represented the buyer.

7. Devil Digs Properties, LLC recently purchased a 32.7KSF fully leased, multi-tenant office building at 2730 W. Agua Fria Freeway, Phoenix, for $5.225M. The sellers, Pathfinder Partners, L.P. and Global Building, LLC, were represented by Kidder Mathews commercial real estate brokers, Darren Tappen and Peter Beauchamp. Michelle Gardner, also with Kidder Mathews, represented the buyer.

8. 7200 Monogram Self Storage Partners LLC recently purchased 1.3 Acres of C-3 Zoned, self-storage approved land, located at 22111 N. Scottsdale Rd., Scottsdale, for $3.5M. Vestis Group commercial brokerage team of Natan Jacobs and Matt Morrell negotiated the transaction on behalf of the buyer and the seller, North Scottsdale Self Storage LLC.

9. Del Mar Ventures Group has acquired Campbell Crossing, a 23.7KSF infill retail center at 4514 N. 16th St. in Phoenix. MCK Realty sold the property for $2.5M. Jerry Jacobs and David Guido of Newmark Knight Frank represented the buyer.

Lease Transactions

10. SVN Desert Commercial Advisors finalized a long-term lease at the Peoria Medical & Professional Center, 13128 N. 94^th Dr, Peoria. Northwest Vascular will occupy 10KSF and is expected to open in October. SVN Advisor Jonathan Levy represented the tenant.