Commercial Real Estate Transactions 05-19-20

Sales Transactions 

1. NAI Horizon’s Lane Neville and Logan Crum negotiated a sale of the Corbins Electric corporate headquarters, a 52.7KSF industrial building at 4829 S. 38th Street, Phoenix, for $7M. NAI Horizon represented the buyer, Staffield Family, LLC. The seller, ML Commercial Properties, was represented by Clint Hardison and Blake Hardison with Keyser. 

2. Marana Unified School District purchased the property at 8333 N. Silverbell Road with approximately 7.5-acres of excess land in Marana, Arizona for $4.2M. The property consists of a one-story, 35KSF urgent care building on one parcel of land with approximately 138.1KSF of land and an additional 4.3-acres of vacant land. John Barnes and Michael Milic, Vice Presidents with Colliers International in Phoenix, handled the transactions for the sellers, Harvest Commercial Capital and Diamond Ventures, as well as the buyer. 

3. A private investor purchased a 16.1KSF manufacturing building at 2840 E. Mohawk Lane, Phoenix, for $2.225M. DAUM Commercial Real Estate’s Trevor McKendry and Chris Rogers represented the buyer. The buyer plans to implement value-add exterior upgrades to the recently vacated property, including new paint, roof, and asphalt. 

4. Crockett’s Honey purchased an 18KSF industrial building at 1060 W. Alameda Drive, Tempe, for an undisclosed amount. DAUM Commercial Real Estate’s Trevor McKendry and Chris Rogers represented the buyer. 

5. Marcus & Millichap announced the $2.105M sale of a 4.8KSF retail property 100 percent leased to Sprint, Long Realty and Zanes Law at 1226 W. Irvington Road, Tucson. Mark Ruble, Chris Lind and Jamie Medress, 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. 

6. A private investor based in California purchased a business park comprised of three industrial buildings and totaling more than 25.9KSF at 3615-3635 S. 16th Street, Phoenix, for $2M. DAUM Commercial Real Estate’s Trevor McKendry and Chris Rogers represented the buyer and the seller was represented by DAUM Executive Vice President Carl Johnson. 

Lease Transactions 

7. Autozone is opening its first “megahub” in Tucson. The company has leased 29.1KSF at Placita del Rio, on the NEC of Irvington Road and Interstate 19. Ben Craney, Jayme Fabe and Scott Soelter, with NAI Horizon, represented the landlord; and Phil Bramsen and William Moore, with San Tan Commercial Advisors, represented the tenant. 

8. Horizon Moving & Logistics, LLC sublet 28.4KSF of industrial space from Synergy Installation Solutions, LLC.  The property site is located in Country Club Commerce Center, 6000 S. Country Club Road (Bldg. 3, Suites 124 and 132) in Tucson. Robert C. Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the sub lessor in this transaction. Riley Gilbert with Jones Lang LaSalle Americas, Inc. represented the sub lease. 

9. The Phoenix Kidder Mathews healthcare team represented the landlord in leasing the 20.2KSF Cornerstone Medical Center, 13481 W. McDowell Road, Goodyear. Tenants include Cigna, ResCare, Valley Sleep Center and the Center for Autism and Related Disorders (CARD). Senior Vice Presidents Michael Dupuy and Tyler Smith and Vice President Rachael Thompson negotiated the long-term lease on behalf of Whiteboard Development Company, LLC.