Commercial Real Estate Transactions 04-28-20

Sales Transactions 

1. Globe Corporation sold the 183.1KSF Class A industrial facility within the Freeport Center, 441 S. 53rd Avenue, Phoenix, to an undisclosed buyer for $17.3M. Will Strong, Executive Managing Director with Cushman & Wakefield’s national Industrial Advisory Group brokered the sale. 

2. An entity tracing to Glasir Capital Partners recently purchased 1.83 acres at 601 N. Central Avenue, Phoenix, for $14M. The property will most likely will be developed into a mixed-use multifamily project. The seller was Honeylou Reznik. 

3. William Warren Group purchased Garfield Storage, an 83.7KSF Class A storage space in Central Phoenix, for an undisclosed amount. They will operate the building under StorQuest Self Storage. Greg Wells and Paul Boyle with Cushman & Wakefield’s Self Storage Advisory Group handled the transaction on behalf of the seller, an affiliate of Hibernia Capital Advisors. 

4. Myslony Development, LLC purchased The Shoppes at Higley Village, a 24.6KSF Walmart Neighborhood Market (with Pharmacy and Drive-thru) anchored neighborhood center at the intersection of Higley & University, Mesa, for $5.5M. Derek Buescher of ORION Investment Real Estate represented the seller, Stratis-Mesa Properties. 

5. On April 14t, Holualoa Companies sold the 64-unit Sandpiper Apartments located in Tucson for $4.7M. They acquired Sandpiper in November 1995 in a joint venture with Scotia Group. 

6. A Colorado-based private investor purchased Mode 39 Arcadia Townhomes, a 13-unit community at 3021 N. 39th Street, Phoenix, for $3.7M. ABI Multifamily’s John Klocek and Patrick Burch represented the buyer and seller, an Arizona-based private investor. 

7.Holualoa Companies, in a joint venture with Epic Real Estate Partners, sold the Starbucks at Scottsdale North in a $2.4M transaction. Holualoa had purchased the AJ’s Fine Foods-anchored retail center located on North Scottsdale Road in 2019. 

8. A private investor and California 1031 Exchange buyer purchased 2KSF double-net-lease Starbucks at 4751 Highway 95, Fort Mohave, for $2.091M. Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Andrew Irvine, an investment specialist in the firm’s Ontario office represented the buyer.