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Commercial Real Estate Transactions 04-28-20

6. Mode 39 Arcadia. Credit: ABI Multifamily

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 StorageGreg 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 Villagea 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 $2.4transaction. 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. 

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