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Commercial Real Estate Transactions 07-28-20

7. Phoenix West Commercial. Credit: Phoenix West Commercial

Sales Transactions 

1. Elim Mining Inc. has completed a $19.1M financing package and will complete its acquisition of the Cactus Mine. The copper mine is located near Casa Grande.  

2. Ivanhoe/Evergreen purchased a 96KSF industrial building at 6615 W. Boston Street, Chandler, for 9.19M. Jackie Orcutt, John Grady and Jonathan Teeter with CBRE represented both the buyer and seller, Cabot Properties. 6615 W. Boston Street was 100 percent leased at the time of sale to two tenants, including Advanced Circuits, Inc. 

3. Sperry Equities, LLC purchased the Shoppes at Legacy House, a 54.2KSF retail center at 5609 E. McKellips Road, Mesa, for $9M. Newmark Knight Frank Senior Managing Directors Jesse Goldsmith and Steve Julius and Associate Chase Dorsett represented both the seller, an affiliate of YAM Properties, LLC, and the buyer. 

4. A California-based private investment firm purchased Monterosa Villas, a 19-unit townhome complex at 4112 – 4114 N. 22nd Street, Phoenix, for $6.948M. ABI Multifamily’s Eddie Chang, John Kobierowski, Alon Shnitzer, Rue Bax, and Doug Lazovick represented the seller, also a California-based private investment firm. 

5. KB Home purchased 154 partially-improved lots within the master-planned community of Tortosa, near the NEC of Hartman Road and Bowlin Road, Maricopa, for $4.95M. Bret Rinehart, Ryan Semro, Ben Heglie and Greg Vogel with Land Advisors Organization’s Metro Phoenix office represented the seller. 

6. Industrial Outdoor Ventures purchased 48KSF building at 2600 W. McDowell Avenue, Phoenix, for $4.4M. NAI Horizon Senior Vice President Isy Sonabend and agent Drew Eisen represented the buyer. The seller was D. Thompson Properties. 

Lease Transactions 

7. Phoenix West Commercial leased ± 34.1KSF of grey shell office space at the Credit Union West corporate office building, 10150 W. River Boulevard, Glendale, to four tenants in record-breaking time of just over three months. Credit Union West Corporate occupies ± 43KSF at the building which totals ± 80KSF. The new tenants are KTO Law FirmOnline Trading AcademyBBSI and Adventure ABA. 

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