Sales Transactions
1. Newmark announced the $86.1M sale of 24th at Camelback I, a 308.5KSF office asset in Phoenix’s Camelback Corridor. Barry Gabel, Chris Marchildon and CJ Osbrink of Newmark, along with Kevin Shannon of U.S. Capital Markets, represented the owner. Neither buyer nor seller were disclosed.
2. Vertical Ventures has purchased the Northsight Corporate Center at 14400 N. 87th St. in Scottsdale for $42.25M. The seller was CIM Group. The 130KSF building is occupied by Vanguard Group.
3. The City of Tempe has purchased the former Apache Inn for $10.7M. Tempe will renovate the property near Apache Blvd. and McClintock Drive to serve as a transitional housing space to accommodate Tempe’s unhoused population.
4. Larsen Baker and VOLK Company have acquired a 135.8KSF industrial/flex building at 2700 and 2800 E. Commerce Center Place in Tucson for $9.23M. 70KSF is occupied by Intuit, and 65KSF is available for lease.
5. Institutional Property Advisors, a division of Marcus & Millichap, announced the $5M sale of The Premiere at Eastmark 3.0, an 8.55-acre multifamily development in Mesa. Steve Gebing, Cliff David and Trevor Hardy of IPA represented the seller, PCS Development, and procured the buyer, Liv Communities.
6. ABI Multifamily announced the $2M sale of 4440 – 4444 E. Lee Street, a 21-unit multifamily apartment community in Tucson. ABI’s Desiree Palmer represented both parties, who were undisclosed.
Lease Transactions
7. Western Retail Advisors brokered on behalf of Miller Plaza LLC for Whole Foods, a 35KSF retail store at Downtown East Shopping Center in Scottsdale. Eric Termansen and Neil Board of WRA represented Whole Foods. Ryan Desmond and Rachel Bliss of WRA will pursue tenants for the remaining 8.9KSF of vacant space.