Sales Transactions
1. Ideal Capital Group has purchased the 171-unit Hudson on Farmer apartment community in downtown Tempe for $96M from 8th & Farmer Owner LLC. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and found the buyer.
2. 86-unit apartment community The Willow, 6315 N. 16th St., has been purchased by M3 Capital Group Acquisition Company 5 LLC from North Point 6315 LLC for $26.7M. CBRE Group Inc.’s Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke represented both parties.
3. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented seller CRSC Residential Inc. and procured buyer Silver Star Real Estate in the $26.5M sale of the 100-unit Maryland West apartment community in Glendale.
4. California-based developer Jason Illoulian, owner of Norman Cienega Property Group LLC and Faring, has purchased the 26.4KSF, three-building commercial development The Steelyard on four acres at Chandler Heights and Gilbert Roads for $17.4M. The seller was Capital Asset Management.
5. Kwon-State Ave, LLC has purchased Coldwater Plaza, an 80.6KSF retail center on 12.58 acres on Dysart Road in Avondale for $14M. Seller WM Grace – who was also the property’s original developer when it was built in 2005 – was represented by Newmark.
6. Huges Federal Credit Union purchased 79KSF of industrial space at 3301 – 3321 E. Global Loop in Tucson. The property was purchased from Global Loop Tucson, LLC; Mercator Properties, LLC, and RSD MT Marathon, LLC for $13.89M. Jesse Blum and Stephen D. Cohen with Cushman & Wakefield | PICOR represented the seller. Brian Harpel with Velocity Retail Group, Tucson, represented the buyer.
7. Tri-Valley Plaza, a 112KSF retail plaza in Casa Grande, has been sold for $13.4M to an undisclosed, out-of-state buyer taking advantage of a 1031 exchange opportunity. The property was listed by Sanford Burstyn of Marcus & Millichap.
8. Thrive Development Group has purchased 62KSF retail center The Shops at Apache Junction for a price of slightly more than $11M.
9. Intersection CRE has purchased the four-building, 92.75KSF industrial property KeyWest Plaza in Gilbert for $10.4M. Financing was arranged by CBRE‘s Capital Markets’ Debt & Structured Finance Group.
10. 66 units in the Graybriar Condominiums development on Maryvale Parkway in Phoenix have sold for $8.25M. The parties were not disclosed. The transaction was brokered by Danny Lee of SVN | Desert Commercial Advisors.
11. Zak Kottler, Joe Cosgrove and Hunter Chasse of LevRose Commercial Real Estate represented the seller in the office building sale of 13847 N. Northsight Blvd. in Scottsdale. The 16KSF building was sold by Bradley Investments, LLC for $6M and purchased by Salt Castle Trust.
12. Danielle Davis, Trent McCullough and Branden Mondragon of LevRose Commercial Real Estate facilitated the sale of 4333 N. Scottsdale Road in Scottsdale. Representing seller Hudye Group LP, the 16.5KSF redevelopment retail opportunity sold to Galleria Triangle, LLC for $4.9M.
13. Danielle Davis and Trent McCullough of LevRose Commercial Real Estate facilitated the sale of the retail plaza at 8880 E. Via Linda in Scottsdale. LevRose represented both the buyer, Doxato Theo 2, LLC and the seller, Chaffee Family Trust. The 18KSF plaza sold for $3.85M.
14. ABI Multifamily announced the $2.95M sale of Mountain View Apartments, a 24-unit multifamily community in Flagstaff. ABI’s Patrick Burch and John Klocek represented the buyer.
15. ZFI, LLC and 45th Street Senior Apartments LLC purchased 17.8KSF of multifamily space at 219 W. Fort Lowell Road in Tucson. Westview Apartments, a 38-unit multifamily complex, was purchased from 219 West Fort Lowell Owner, LLC for $2.8M. Allan Mendelsberg and Conrad Joey Martinez with Cushman & Wakefield | PICOR represented both parties.
16. RV Retailer LLC has bought 2.92 acres in Surprise for $2.75M. The site is currently a Van’s RV Trailer Company location. The buyer intends to use the property to expand the adjacent Tom’s Camperland.
17. NAI Horizon’s Michael Gaida represented DRA LLC of Maricopa in the $2.4M sale of two parcels and an industrial building at 32240 W. Bud Rd. to the City of Maricopa. The City plans to use the site as a facilities works yard.
18. LevRose represented the seller, A & C Building Management, LLC, in the sale of the office building at 5621 W. Beverly Ln., in Glendale. The deal was negotiated by Michael Waxman and Foster Bundy. The 8.1KSF property sold for $2.05M.
19. KB Investment Development has purchased the 280-unit apartment community Green Leaf Arts District in Phoenix. Seller Green Leaf Capital Partners was represented by Asher Gunter, Matt Pesch, Sean Cunningham, Austin Groen and Tyler Anderson of CBRE. No financial details were disclosed.
Lease Transactions
20. Keri Davies and Jason Reddington of LevRose Commercial Real Estate represented the landlord, JBJM Camelback, LLC, in the 10.9KSF lease of 3001 E. Camelback Rd., #100, 140 and 150 in Phoenix. The new office tenant is BOKF, NA.
21. Oak Street Health MSO, LLC, leased 10.4KSF of retail space from MROF I SPE I-Rolling Hills, LLC, located in Rolling Hills Shopping Center in Tucson. Dave Hammack and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord. Ty Brewster with LocateAI Realty, Inc., Phoenix, represented the tenant.
