Sales Transactions
1. TruAmerica Multifamily has sold the 520-unit Sweetwater at Metro North Apartments at 2902 W. Sweetwater Ave., Phoenix to Priderock Capital Partners for $115M.
2. Knightvest Capital has paid $102.5M for the 408-unit Aventura Apartments in Avondale. The seller was Eaton Vance Management. Steve Gebing and Cliff Davis of Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction.
3. The 400-unit Tempe Station apartment community on E. Apache Blvd. in Tempe has sold for $100M. The buyer was Alliance Residential and the seller was Kennedy Wilson Multifamily.
4. Three Octopus Car Washes in Tucson and one in Marana have sold for a combined $15.4M. Buyer Secolo Land Development Co. will rebrand the locations as Blue Dolphin Car Wash.
The locations were:
- 6611 N. Thornydale Road, Marana
- 2011 W. Valencia Road, Tucson
- 7210 E. 22nd Street, Tucson, and
- 3410 N. 1st Avenue, Tucson.
5. A private investor has paid $14.75M for the 112.8KSF Crossroads Plaza shopping center on West Peoria Avenue in Peoria. Mindy Korth and John Jackson of Colliers in Arizona worked in conjunction with Caitlin Zirpolo and El Warner of Colliers in Irvine, Calif. representing the seller. A real estate firm from Encino, Calif. sold the property to a La Jolla, Calif. private investor. The buyer was represented by Maha Odeh Arnold of Regal Properties.
6. ABI Multifamily announced the $14.5M sale of The Douglas at Goodyear Airport Commons, a 16.91-acre land parcel with fully approved plans for a 307-unit build-to-rent townhome community in Goodyear. ABI’s Patrick Burch and John Klocek represented the seller Blueprint Capital. The buyer was UrbanStreet Group.
7. Andrew Harrison of ORION Investment Real Estate represented the seller in the $2.4M sale of an Opportunity Zone redevelopment property at 1461 E. Apache Blvd. in Tempe.
Lease Transactions
8. Elliott Electric Supply has leased 138KSF at 121 S. 39th Ave., in Phoenix. The company had previously leased 65KSF in the same building and was represented by NAI Horizon’s Isy Sonabend and Drew Eisen in the expansion and renewal. Landlord Sieroty, DBA Eastern Columbia Properties, was represented by Don MacWilliams with Colliers International.