Sales Transactions
1. Procter & Gamble has closed on the 430-acre site in Coolidge’s Inland Port Arizona industrial park where it plans to build a 2MSF manufacturing facility. The company paid Pinal Land Holdings LLC (Saint Holdings) $53.4M for the property.
2. Cushman & Wakefield represented The Opus Group in the sale of Warner Commerce Center, a newly built 197KSF Class A industrial project on 18 acres in Tempe. The property was acquired by Barings for $42.4M. Will Strong, Phil Haenel, Kirk Kuller, Molly Hunt, Cal Conway, and Stephanie Saccente with C&W’s Industrial Advisory Group – Mountain West team represented the seller. The Group also includes new hires Micki Strain and Foster Bundy.
3. Cushman & Wakefield announced the firm has advised the sale of Norte at Chandler, an 85.8KSF, multi-tenant Class A flex office building in Chandler. United Realty M.T.A. acquired the property for $17.2M. Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye with Cushman & Wakefield’s Private Capital and Capital Markets teams in Phoenix represented the seller.
4. Taylor Street Advisors’ Brian Tranetzki and Anton Laakso recently brokered three sales totaling $22.9M in which the firm represented the sellers. The properties were:
- Aspen Cove, Payson, 59 units, $11M;
- Los Porticos on 85th, Scottsdale, 24 units, $8M, and
- The Hepburn, Phoenix, 16 units, $3.9M.
5. MCP Tucson Endo, LLC purchased 12KSF of office space at Oracle-Ina Professional Plaza, 7490 N. Oracle Road, Tucson, from Oracle Medical Plaza Phase II LLC for $3M. Richard M. Kleiner and Thomas J. Nieman, Office Specialists with Cushman & Wakefield | PICOR, represented the seller. Larry Serota and CeCe Conway with Transwestern represented the buyer.
Lease Transactions
6. MicroStar Logistics LLC leased 140KSF of industrial space at 5120 S. Julian Drive, Tucson, from Schnitzer Properties, LLC. Jesse Blum and Alex Demeroutis, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord. Keyser’s Ryan Steel represented the tenant.