Sales Transactions
1. Avia 266, a 267-unit multifamily community at 1366 S. Country Club Dr. in Mesa, recently sold for $52.4M. The buyer, ColRich, purchased the property from Geringer Capital. Matt Pesch, Asher Gunter and Austin Groen of CBRE represented the seller. The community will be rebranded as The Remy.
2. Hayden Park, a 182-unit garden-style apartment community at 3015 N. Hayden Road in Scottsdale, recently sold for $42M. The buyer was Rockwell Property Company. The seller was represented by Steven Nicoluzakis, David Fogler and Jaxx Davies of Cushman & Wakefield.
3. Walmart has paid nearly $11.82M for a 38-acre site in the AZ85 planned area development at the NEC of SR 85 and Southern Avenue in Buckeye. Seller Cardinal Capital Company previously secured rezoning for the site.
4. A 48.4KSFmanufacturing and distribution facility at 779 N. Colorado St. in Gilbert recently sold for $11M. The buyer, Ergas Group, was represented by Phil Haenel, Will Strong, Foster Bundy and Madeline Warren of Cushman & Wakefield. The same team represented the seller, Cohen Asset Management. The property is fully leased to Rigid Industries, Inc.
5. Orange Grove Village, a 19.2KSF neighborhood shopping center at 6421-6453 N. Oracle Roadand400 W. Orange Grove Road in Tucson, recently sold for $6.45M. The buyer was BSOP-24, LLC, represented by Bryan Belk of Franklin Street andScott Reid of ParaSell, Inc. The seller, S1K, LLC, was represented by Craig Finfrock of Commercial Retail Advisors, LLC.
6. Copenhagen Imports (as HHC Tucson Real Estate LLC) has sold its former service and clearance center at 3648 and 3764 E. Ajo Way in Tucson for $6.96M. The buyer of the 61.4KSF warehouse and 4.56-acre site was Covenant Properties LLC, which bought the site as an owner-user for Arizona Steel and Ornamental Supply. The seller was represented by CBRE’s Tim Healy and Jackson Kraft, while the buyer was represented by Raymundo Olvera with Open Realty.
7. ADV Reline Service Inc. has paid $6.08M for a nearly 15.8KSF industrial building at 7320 E. Pecos Road in Mesa’s Pecos 17 Industrial Development. The property was developed and sold by Cavan Commercial. ADV was represented by CRE8 Advisors.
8. A 15.1KSF single-tenant retail property at 11250 E. Vía Linda in Scottsdale recently sold for $5.8M. The buyer, P&B Holdings IV, LLC, purchased the property from COMU, LLC. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller. The building is fully leased to Walgreens.
9. Century Park Properties LLC, an affiliate of the Levin Family Trust, purchased a 61.95-acre industrial site at 6701 S. Wilmot Road in Tucson for $5.75M. The seller was Apollo Gardens LLC, managed by Sukhbinder Khangura. Patrick Welchert of Alpha Commercial Real Estate Service represented the seller.
10. Noah Branham with COBE Real Estate, Inc. purchased 4676 S. Higley Road, a freestanding retail building in Gilbert, for $3.2M. Jackson Dragon and Zachary Pace with Phoenix Commercial Advisors assisted with the sale.
11. Cruztel de Sonora LLC purchased 8.9KSF of office space at 2020 W. Rudasill Road in Tucson, from Watermark 2020 LLC for $2.14M. Ryan McGregor of Cushman & Wakefield | PICOR, represented the buyer. Benjamin Craney and Gordon Wagner with NAI Horizon, Tucson, represented the seller.
Lease Transactions
12. BOK Financial will lease roughly 40KSF at Hayden Ferry Lakeside at Tempe Town Lake. The new space, which will accommodate around 125 employees, will serve as the company’s Arizona headquarters and consolidate the staff in a single office. BOK is planning $1.15M in tenant improvements for the vacant shell space on the seventh and eighth floors, to be performed by Keeley Construction.