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Commercial Real Estate Transactions 10-29-19

7. Desert Mirage Medical Plaza. Credit: Colliers International in Arizona

Sales Transactions

1. Geringer Capital purchased Avia 266, a 266-unit multifamily community at 2354 W. University Drive, Mesa, for $45.25M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Thayer Manca Residential.

2. Tanbic Edgehill Centerra Apartments, LLC (an entity formed by Ryan and Anthony Francisco with Edgehill Investments and Tanner Bickelhaupt with Tanbic Investments) purchased Centerra Apartments Homes, a recently renovated 202-unit garden-style apartment community at 111000 N. 115th Street, Scottsdale, for $36.25M. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, RP 115, LLC (an entity formed by Rincon Partners).

3. Masyno Osborn, LLC purchased 2.34 acres, at 3500 N. 4th Avenue, Phoenix, for $5M, from Seventh Camel, Inc. Mark Bramlett, David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the buyer.

4. Phoenix Commercial Advisors facilitated the sale of Camelback 101 Plaza, a shop building adjacent to Youfit and In-N-Out Burger. The 15.6KSF shops, located on 1.85 acres at 9611 W. Camelback Road, Phoenix, sold for $3.7M. John Schweikert and Chad Tiedeman at Phoenix Commercial Advisors represented the seller.

5. ABI Multifamily announced the $3.05M sale of Yardz on Colter, a 16-unit market rate, garden-style community at 1545 W. Colter Street, Phoenix. ABI Multifamily VP Royce Munroe represented the seller. The buyer is private investment firm based in California. The seller is an Arizona-based private multifamily investment firm.

6. Espinosa Garnica, LLC purchased a 59.5KSF industrial building located at 3350 E. Mossman Road, 3355 E. Bilby Road, and 6060 S. Brosius Avenue in Tucson, from Palo Verde II, LLC for $2.015M. Industrial Specialists and Principals with Cushman & Wakefield | PICOR, Stephen D. Cohen, Russell W. Hall, SIOR, GSCS, and Robert C. Glaser, SIOR, CCIM, represented the seller. Max Fisher, also with Cushman & Wakefield | PICOR, represented the buyer.

7. Boomerang Capital Partners, LLC purchased Desert Mirage Medical Plaza, a three-building, 37.4KSF ambulatory surgery center and medical complex at 12361 W. Bola Drive, Surprise, for an undisclosed price. Colliers International in Arizona handled the sale. The seller was Desert Mirage Medical Plaza, LLC.

Lease Transactions

8. Woz ED, an educational technology company in part created by Apple co-founder Steve Wozniak, is moving its headquarters to Ten-O-One building at 1001 North Central Ave, Phoenix. Woz ED will lease the entire top floor of the building.

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