Sales Transactions
1. CaliberCos Inc. sold the Northsight Crossing retail center in Scottsdale to Hunt Retail Investments, LLC for $27.4M. Brokers on this transaction were Cushman & Wakefield, Caliber Realty and Platinum Advisors.
2. Peter Sun of Five Star Inn One LLC and Lily Hsue of Five Star Inn Two LLC purchased the 3 Palms Hotel, a 130-guestroom property in Tempe for $23M. The seller was Roger Abbot. James Meng of Colliers handled the negotiation and transaction.
3. CBRE’s Geoffrey Turbow, Gary Cornish, Charlie Von Arentschildt and Sean Spellman arranged the $16M sale of McDowell Mountain Business Park II in north Scottsdale. Bob Kling of Lee & Associates represented Envita Medical Centers, which acquired the property.
4. CBRE arranged the $12.68M sale of the Arrowhead Ranch Business Park in Peoria to a California-based private buyer undergoing a 1031 exchange. Geoffrey Turbow, Gary Cornish, Anthony DeLorenzo and Nick Williams of CBRE’s Investment Properties, alongside CBRE’s Evan Koplan and Serena Wedlich, represented the seller, Pacifica Real Estate Group.
5. ViaWest Group paid $7.5M for a 39.4KSF single-tenant Class A industrial building on nearly 3.5 acres at 1450 E. Buckeye Road, Phoenix. The property is fully leased to Core & Main (formerly HD Supply). Paul Boyle with Cushman & Wakefield’s Phoenix office represented both ViaWest Group as the buyer and Buckeye RRV, LLC as the seller.
6. David McHenry has purchased the 1010 East Washington Property and associated land from Azteca Bridal for $4.76M. The property included a 26KSF building along with 1.45 acres of land. Ray Cashen of Cashen Realty Advisors brokered the transaction.
7. Choe Harding LLC has paid $4.4M to buy Cadence at Gateway, a 7.1KSF retail property in Mesa. Seller Thompson Thrift Commercial was represented by SRS Capital Markets’ Matthew Mousavi, Patrick Luther, Ed Beeh, Mike Polachek and Stephanie Davis.
8. A 4.6KSF Super Star Car Wash on 1.11 acres at 2675 W. Jomax Road in Phoenix sold recently for $2.5M. The parties were not identified, but both the buyer and seller were represented by Chad Tiedeman and Danny Gardiner at Phoenix Commercial Advisors.
9. Glenn Smigiel, Cam Stanton, Bob Young, Bill Bones and Rick Abraham with CBRE negotiated the sale of North Mountain Village in Phoenix for an undisclosed price to Sperry Equities LLC.
Lease Transactions
10. Arcadia Cold Storage and Logistics has signed a full-building lease for 293KSF in the LogistiCenter at Copperwing in El Mirage.
11. Fox Factory Inc. has leased a 112KSF industrial building at 2335 W. Corporate Center Drive in Phoenix. The tenant was represented by Chris Rogers and Trevor McKendry with DAUM Commercial Real Estate Services. Building owner Meritex was represented by CBRE.
12. Open Network Exchange Inc. leased a 70KSF space at Riverwalk on Salt River Pima Maricopa Indian Community land. Scott Baumgarten, Jordan Wade, Chase Bourdelaise and Allie McCracken with Transwestern represented Worldwide Express to sublease the space. Open Network Exchange was represented by Chris Nord and Josh Wyss of Cushman & Wakefield.