Sales Transactions
1. Mark Forrester, Ric Holway, Dan Cheyne, Spencer Scott and Andrew Curtis of Berkadia Phoenix represented seller Harvard Investments in the $87.85M sale of FirstStreet at Happy Valley, a 212-unit Build-to-Rent community at 1717 W. Happy Valley Road in Phoenix. The buyer was unidentified.
2. Dan Cheyne, Mark Forrester, Ric Holway and Andrew Curtis of Berkadia Phoenix represented Continental Properties Company, Inc. in the $85.35M sale of Springs at Cooley Station, a 276-unit multifamily community in Gilbert. The buyer was Millburn and Company.
3. Kidder Mathews’ brokers Darren Tappen, Nathan Thinnes and Peter Beauchamp represented Jewell Capital in selling the 17.1-acre retail center SanTan Gateway North in Chandler. The buyer, Coast Meridian Properties, acquired the property for $26.6M.
4. ABI Multifamily announced the $19.5M sale of Via Alamos Apartments, a 160-unit apartment community in Green Valley. The unidentified buyer and seller were represented by ABI’s Phoenix-based Institutional Apartment Group—Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick—in collaboration with ABI’s Tucson Apartment Team of Desiree Palmer, Ryan Kippes and Nathaniel McAdoo.
5. Western American Investments, LLC has paid $2.2M for an 11KSF industrial building and 3.58 acres of excess land at 2425 W. Curtis Road, 5180 and 5180 B N. Kain in Tucson. The seller was an assortment of affiliates of Tucson Asphalt. The new owner plans improvements to the property.
Lease Transactions
6. The nonprofit bioscience development organization Nucleate has chosen the 370KSF Ilume Innovation Center at Scottsdale Road and Loop 101 as headquarters for its new Arizona Chapter. Nucleate Arizona has planned several events and programs at the facility, and owner Stockdale Capital Partners has committed to more than $20M in renovations to convert Ilume to a fully lab-enabled life science facility.