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Commercial Real Estate Transactions 12-10-19

7. Regency Specialties. Credit: Colliers International in Arizona

Sales Transactions

1. Sumitomo Corporation of Americas purchased the Collier Center, a 24-story, 578KSF commercial complex located in downtown Phoenix. Eastdil Secured brokered the deal for an undisclosed amount.

2. JLL Income Property Trust has bought the Chandler Distribution Center, a 211KSF industrial complex near Loop 202 and Germann Rd, for $31M from Minnesota-based Meritex.

3. Townline Homes purchased 2600 Tower, a 323K+SF, 20-story office tower at 2600 N. Central Ave, Phoenix, for $30.75M. Mindy Korth with Colliers International represented both seller, Alder Realty Investments, and buyer.

4. Richmond American and Meritage Homes purchase a total of 128 lots at Entrada Del Rio and Rancho Sahuarita, for $7.52M. Richmond American closed on 87 lots for $5.2M and Meritage Homes acquired 41 lots for $2.33M.

5. Caliber Companies purchased a 50K+SF office property at 305 E. Main Street, Mesa, for $4M. Eric Wichterman, Mike Coover and Mark McGranahan of Cushman & Wakefield represented the seller, Wells Fargo.

6. Marcus & Millichap’s announced the $2.075M sale of Walgreens, a 13.9KSF net- leased property at 2435 East Greenway Pkwy, Phoenix. Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, represented the seller, and procured the buyer, an individual/personal trust.

Lease Transactions

7. Regency Specialties has leased 19.5KSF of space the Auviana Medical Complex, a six-building medical complex currently under construction at the SWC of Reems Rd and Mountain View Blvd, Surprise. Philip Wurth, CCIM, Bonnie Halley, CCIM, Brian Gleason and Melissa Marks of Colliers International in Arizona are the exclusive leasing agents for Auviana Medical Complex.

Closures

8. Phoenix Elementary School District is considering closing three of its 14 schools at the end of the school year: Emerson School, Dunbar School and Faith North preschool. The conversation over the proposed closures is just beginning and a decision would not be finalized for several months.

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