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Commercial Real Estate Transactions 09-17-19

14. 2901 Camelback. Credit: CBRE

Sales Transactions

1. CBRE has arranged the sale of the 340-unit Class A multifamily community Summerly at Zanjero, 7375 N. Zanjero Blvd, Glendale, on behalf of Fore Property to a private investor for $78.5M.

2. JLL Senior Vice Presidents Tivon Moffitt and Peter Bauman, and Executive Vice President Steve Larsen, represented MRM Tempe LLC, in the $16.2M sale of a 128KSF fully-leased infill industrial building at 8210 S. Hardy Drive, Tempe. The buyer was an out-of-state partnership involved in a 1031 exchange.

3. Mygrant Glass purchased a 130.3KSF warehouse and manufacturing building at 550 W. Southern Avenue, Tempe, for $13.15M. Cooper Fratt, John Grady, John Werstler and Jackie Orcutt of CBRE in Phoenix represented the seller, James Greaves of G2 Capital.

4. Geddes Advisors of Phoenix acquired the Star Valley Master-Planned Community, a 1,437-acre master planned community zoned for approximately 7,000 homesites in Tucson for $11.2M from USH/SVA Star Valley LLC.

5. Westwood Financial, LLC purchased Ahwatukee Mercado, a 54.1KSF Safeway-anchored shopping center at 4623 & 4747 E. Elliot Road, for $9M. Jesse Goldsmith, Steve Julius and Chase Dorsett of CBRE in Phoenix and Philip Voorhees, John Eddy and Jimmy Slusher of CBRE in Newport Beach represented the buyer and the seller, TPP 202 Ahwatukee, LLC c/o TriGate Capital, LLC.

6. Susan Ehsan of San Juan Capistrano, Cali. purchased Elliot Plaza – Main Building, a 53.2KSF multi-tenant shopping center at 7720, 7760A and 7760B S. Priest Drive, Tempe, for $6.6M. Steve Julius, Jesse Goldsmith and Chase Dorsett of CBRE in Phoenix represented the seller, The Niki Group/ Unified CRE Investors.

7. Marcus & Millichap announced the $5.6M sale of Latitude 32, a 76-unit 44.8KSF apartment property at 3202 N. Country Club Road, Tucson. Marcus & Millichap represented both the buyer and seller.

8. Marcus & Millichap announced the $4.578M sale of Edison Place, a 9KSF multi-tenant retail property at 44565 W. Edison Road, Maricopa. The buyer, a limited liability company, was secured and represented by Scott Ruble, Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office.

9. DG Boo Investments, LLC/Joe Wojdowski purchased a 10KSF, multi-tenant retail pad located at 7700 S. Priest Rd., Tempe, from The Niki Group/ Unified CRE Investors for $3.85M. Steve Julius, Jesse Goldsmith and Chase Dorsett of CBRE in Phoenix represented the seller.

10. Marcus & Millichap announced the $3.035M sale of 7601 East Gray Road, a 19.7KSF multi-tenant industrial/flex property located in Scottsdale. Jay Krew, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, an investor in a 1031 exchange.

11. Dunbar Real Estate Investment LLC purchased a 41KSF industrial manufacturing building at 10821 N. 23rd Avenue, Phoenix, for $2.95M. Steve Grossoehme of Rein & Grossoehme Commercial Real Estate represented both the seller, 10821 North 23rd Ave Building LLC, and the buyer.

12. Elliott Partners, Ltd. purchased a 44.5KSF industrial warehouse building at 3130 S. Dodge Boulevard, Tucson for $2.8M. Brandon Rodgers, SIOR, CCIM, and Robert C. Glaser, SIOR, CCIM, Principals and Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller, DRD Group, LLC. Dave Blanchette, CCIM, with NAI Horizon, represented the buyer.

13. Anaconda Capital Group, LLC purchased Bethany West, a 48-unit garden-style apartment community at 6211 N. 48th Avenue, Glendale, from Bethany West, LLC for $2.67M. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix arranged the sale on behalf of the buyer and seller.

14. CBRE brokered the sale of a 22.2KSF office building located at 2901 E. Camelback Road in the Camelback Corridor of Phoenix. Bob Young, Glenn Smigiel, Steve Brabant, Rick Abraham and Kevin Calihan represented the seller, Ironline Partners, LLC. The buyer was a Toronto, Canada-based limited partnership.

Lease Transactions

15. O’Neil Printing Inc. is packing up its longtime headquarters and operations at 366 N. Second Avenue and will lease approximately 64KSF of space in the Cotton Center business center, 4303 E. Cotton Center Boulevard. Keyser helped O’Neil look for its new space.

16. The first phase of creative office space at George Oliver‘s $17M CASA redevelopment at 7878 N. 16th Street, Phoenix, is heading toward an October completion with a host of pre-lease commitments in tow, including: Rockwell Automation (26.8KSF), The Money Store (7.5KSF), Olsson (7.2KSF), Phoenix Association of Realtors (4KSF) and North & Co. and affiliates (leasing eight co-working suites).

17. NAI Horizon’s Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, United PF, in a 120-month retail lease for 24.3KSF at 4874 S. Val Vista Drive, Gilbert. The landlord, Val Vista Queen Creek, LLC, was represented by Horth Hong with NAI Horizon.

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