Sales Transactions
1. Arizona Land Consulting purchased two locations in Buckeye for nearly $20M. The first was for 72 acres of land that will be part of the master-planned community Copper Falls. Most of the land will be used for a 900-unit Build-to-Rent community, while the remaining 16 acres will be reserved for future commercial or retail uses. The second purchase was for 20 acres at Johnson and Baseline roads that will be the site of a future commercial or industrial development.
2. Alturas Capital Partners acquired Heritage Plaza Shopping Center, a 112.4KSF shopping center in Tucson, for $17.5M. JLL represented the buyer. Larsen Baker has the leasing contract. The seller was not disclosed.
3. Newmark announced it arranged the $11M sale of 90 Mountain View I, a three-story 91KSF, Class A office and medical office project at 9977 N. 90th St. in Scottsdale. Newmark’s Barry Gabel, Chris Marchildon and CJ Osbrink represented seller Regent Properties. The buyer was not disclosed.
4. Lane Neville, Cole Neville, Brandon Hall, Whitney Heritage and Matt Westra of NAI Horizon represented the seller, Tolis Advisors, in the $7.3M sale of 655 S. Dobson Road, a 22.5KSF medical building in Chandler. The buyer, Provider Real Estate Partners, LLC, was self-represented.
5. Troy Giammarco and Joe Pequeno of NAI Horizon represented the seller, 29 Palms RV & Boat Storage, LLC, in the $7.2M sale of 22611 N. 159th Ave., a 20.3-acre industrial site in Surprise. WCI Borders Business Opportunities & Real Estate represented buyer US Storage LLC.
6. Marcus & Millichap announced the $5.3M sale of Oak Creek Mobilodge, a 62-space manufactured home community in Sedona. M&M’s Richard Butler represented the property for seller Creekfront Holdings, LLC. Buyer Oak Creek Hospitality was procured by Lee Jeans with Coldwell Banker.
7. JLL represented the seller and procured the loan for the new owner in the sale of Home2 Suites by Hilton, a 130-room hotel in Scottsdale. Neither the buyer nor the seller were disclosed, nor was the sale amount.
Lease Transactions
8. Logistics Plus Inc. has leased 595KSF at Reems Ranch 303, a 1.1MSF industrial facility at 15700 W. Glendale Ave. in Glendale. Landlord The Pizzuti Companies was represented by Don MacWilliam, Payson MacWilliam and Chris Reese of Colliers International.
9. Dutch Bros Inc. signed a 136.4KSF lease at Liberty Center at Rio Salado in Tempe. Mike Strittmatter and Brad Anderson of Cushman & Wakefield were the listing brokers. Scott Maxwell of Cresa represented the tenant.