Sales Transactions
1. Cushman & Wakefield announced the firm has advised the sale of University Logistics Park, an 86.4KSF multi-tenant industrial project at 730 E. University Drive and 2440 S. 8th Place in Phoenix. The two-building park was fully leased at the close of escrow. Stonelake Capital Partners acquired the property for $18.1M from 20 Mule Team Holdings LLC. Cushman & Wakefield’s Phil Haenel and Foster Bundy represented both parties. The firm’s Mike Haenel and Andy Markham also provided leasing advisory.
2. Marcus & Millichap Inc. negotiated the $6.25M sale of Urbana at Glenrosa, a 22-unit apartment community at 4250 N. 25th St., Phoenix. Paul Bay and Darrell Moffitt listed the property for the seller and procured the buyer.
3. Cushman & Wakefield announced the firm has brokered the sale of a 120-key Residence Inn by Marriott hotel in north Scottsdale. Located at 17011 N. Scottsdale Road, the property was built in 2002 but renovated in 2018. The buyer was Summit Hotel Properties, which acquired the property for an undisclosed price. Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller
Lease Transactions
4. TMC Medical Network leased a 10.1KSF medical office at 5860 N. La Cholla Blvd. in Tucson, from Desert Dendrite, LLC. Richard M. Kleiner with Cushman & Wakefield | PICOR represented the tenant. David Montijo with CBRE, Tucson, represented the landlord.