Sales Transactions
1. A joint venture between George Oliver Companies and Ascentris has paid $8M for a 16.3KSF former Wells Fargo building at 4167 N. Scottsdale Road. The property had been listed by JLL, and the purchase was made directly. GO officials say the site will be used as a restaurant space to serve as a value-add to another recently purchased space at 4141 N. Scottsdale Road.
2. Marcus & Millichap announced the $5M sale of a 35KSF net-leased warehouse property at 841 S. 71st Ave. in Phoenix. M&M’s Paul Berkner listed the property for seller 841 Company, LLC. Chris Cunning of M&M’s Las Vegas office procured buyer Galset LLC.
3. D. Hoover & Associates Investments, Inc. has sold a 40-acre development site near 7th Street and Carefree Highway in Phoenix. Kidder Mathews brokers Brian Rosella and Joseph Calistri represented the investment firm in the $4M off-market sale to custom builders Nexstar Homes.
4. Aldi has purchased two former 99 Cents Only stores in metro Phoenix. The grocery store chain paid $3.8M for a 26.7KSF building on nearly three acres at 12th Street and Northern Avenue in Phoenix and $3.1M for a 36KSF building on nearly 3.5 acres near Main Street and Greenfield Road in Mesa.
5. Buyer Pioneer Tucson, LLC purchased the $3.8M Pioneer Building, an 11-story high-rise in Tucson. The seller, an affiliate of Holualoa Arizona, Inc., sold the property at auction.
6. Tucson Electric Power has paid $2.28M for 19.55 acres near Grier and Wentz roads in Marana. The seller was Cortaro Farms Ltd. TEP plans to build a new 138 kV substation and related infrastructure on the location.
7. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE arranged the sale of Landing at Fiesta Village, a 220-unit apartment complex in Mesa. CBRE represented the seller, P.B. Bell. The buyer was Millburn & Company. The sale value was not disclosed.
Lease Transactions
8. Just Between Friends leased 33KSF of retail space at Oracle Plaza, 6310 N. Oracle Road, Tucson, from Oracle Plaza, LLC. Natalie Furrier and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.
9. Menlo Group Commercial Real Estate negotiated the lease of a 25.8KSF facility at Costco Plaza in Tempe. Brian Gast and Brian Harpel of Velocity Retail Group represented the landlord, Costco Plaza Property, LLC. Jason Triano, Nicholas Aldini and Mary Porter-Larsen of Menlo Group represented the tenant, The Picklr.