Sales Transactions
1. Southwest Value Partners of San Diego has paid $112M for the 575-room, 306-acre JW Marriott Starr Pass Resort & Spa in Tucson. The seller was Fortress Investment Group.
2. A joint venture between ITEC Financial Inc., South Coast Properties Investments LLC and InfoTech Analytics has paid $30M for Southern Sunset Plaza on South Country Club Drive in Mesa. The seller was IntouchCX (formerly 24-7 Intouch), a tenant in the building that also occupies more than half the 200KSF space. The sale was brokered by Mindy Korth and JK Jackson with Colliers International.
3. An industrial warehouse distribution center totaling 100KSF in Tolleson has sold for $20M in cash in an off-market exchange. Kidder Mathews’ Mike Ciosek and Eric Bell represented seller CorLiving, Inc. The buyer was Silver Rafter D5, LLC. The center was sold as a sale-leaseback to CorLiving.
4. BSK 340 LLC has paid $10.33M for the 21-unit Build-to-Rent community Encanto Waterfront in Phoenix. Seller Metro 21 on Roma LLC was represented by Trevor Koskovich, Ryan Boyle, Jesse Hudson and Logan Baca with Northmarq.
5. Hazen Enterprises has bought a 17.1KSF retail and office space on West Congress Street next to the Fox Theater in Tucson for $4.5M. The seller was Chapman Management Group, represented by Erik Chapman. The buyer was represented by Bryce Horner with PICOR Commercial Real Estate.
6. A 512-acre parcel in Wickenburg known as Black Hills Land has sold for $3.5M. Chris Doty of Marcus & Millichap procured the buyer.
7. AAMCO, a 4.4KSF net-leased property in Chandler, has sold for $3.33M. The transaction includes a new 15-year NNN lease with a multi-unit franchise and 10% rent increases every five years. The parties were not disclosed. The seller was represented by Mark Ruble and Chris Lind with Marcus & Millichap.
8. ABI Multifamily announced the $2.9M sale of 1011 Apartments, a 20-unit community in south Phoenix. The undisclosed buyer and seller were represented by ABI’s Mitchell Drake, Dallin Hammond and Carson Griesemer.
9. Ash Auto Group, LLC has paid $2.7M for a commercial industrial building at 7421 E. Adobe Dr. in Scottsdale to serve as its corporate headquarters. The company purchased the property from the owner of Combs Auto as part of its plans to grow its auto service business in Arizona and expand into other Southwestern markets. Greg Hopley and Dillon Hopley of Colliers in Arizona represented both parties.
Lease Transactions
10. CP Skin Health, an assembly of three businesses under the Colgate-Palmolive Company, has leased 91.35KSF at Mack Innovation Park Deer Valley. Owner Mack Real Estate Group was represented by leasing brokers Rusty Kennedy and James Cohn with Stream Realty. CP Skin Health was represented by Keyser’s Ryan Steel and Noah Barrasso.
11. IT company TD Synnex has taken 52KSF in Nationwide Realty’s Rivulon Business Park in Gilbert. The company plans to employ 300 workers initially, and officials say there is room to expand operations if demand warrants it.
12. The Chef’s Warehouse (The Chef’s Warehouse West Coast LLC), a specialty food and supplies purveyor for high-end restaurants and food stores, has leased 46.3KSF of warehouse and cold storage space at 3717 W. Washington St. in Phoenix. NAI Horizon’s Isy Sonabend and Drew Eisen represented The Chef’s Warehouse. Landlord CPT Condor Washington LLC was represented by Phil Haenel of Cushman & Wakefield.
13. Goodwill Industries of Southern Arizona Inc. leased 26.69KSF of industrial space at Britannia Business Center, 3440 E. Britannia Dr., units 150 & 160 in Tucson, from Britannia Tucson, LLC. Jesse Blum, Alex Demeroutis and Bryce Horner with Cushman & Wakefield | PICOR represented the landlord.
14. Troy Giammarco and Joe Pequeno of NAI Horizon represented the tenant, Imani Capital Holdings Inc., in a 60-month office lease for 11.27KSF at 4550 N. Black Canyon Hwy., Phoenix. Landlord 4550 N. Black Canyon Hwy, LLC was represented by Jonathan Levy with SVN.