Sales Transactions
1. Lennar Arizona, Inc. and Richmond American purchased Block 1 at the master-planned community, Monarch, in Marana for $30M. The purchase contains 254 finished lots. The lots were sold by the developer, Sunbelt Holdings. Will White and John Carroll of Land Advisors Organization handled the transaction.
2. Starfire Golf Course in Scottsdale sold for $24M. Swing First Golf purchased course from Greenlight Communities.
3. Westwood Financial, LLC purchased the 83.8KSF Paradise Hills Shopping Center in Phoenix for $16.8M. The property was sold by Abbington Emmerson Investments LLC. The seller was represented by Colliers’ Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo. The center is occupied by 16 tenants.
4. Cushman & Wakefield announced the firm advised the sale of Gateway Executive Center, a multi-tenant, 39.9KSF office building in Phoenix at 1048 N 44th Street. The property was acquired by MJA Investments Inc. for $9.1M. Eric Wichterman, Mike Coover and Chris Toci with C&W represented the seller, a private investor based in Hawaii.
5. A Tractor Supply store in Green Valley sold in a net-lease sale for $6.5M. Tractor Supply, the seller, will lease the property back from the undisclosed buyer. The 21.8KSF building is at 75 N Abrego Drive. Berkley Capital Advisors of North Carolina handled the transaction with Calvin Short and Aron Cline as the brokers.
6. Lincoln Property Company and partner Goldman Sachs announced the sale of Buckeye 85. The Phoenix-based industrial building was purchased by LaSalle. The 321.9KSF industrial building is fully leased to Tempur-Pedic. Will Strong and Molly Hunt of Cushman & Wakefield represented Lincoln as the investment sale brokers. Marc Hertzberg and Riley Gilbert served as the investment sales team’s property leasing experts. Gilbert also represented Tempur-Pedic in its lease agreement.
Lease Transactions
7. JLL announced it has completed a 96.4KSF lease for Branded Bills. Located at 360 S. Smith Road in Tempe, the new building will host more than 140 Branded Bills employees. JLL’s Keith Lammersen represented Branded Bills in the lease negotiations. Gary Cornish represented the landlord, an undisclosed local investor.
8. Cushman & Wakefield represented Monogram Health in a direct lease of a 26KSF office space in Tempe. Monogram Health occupies an entire floor at Hayden Ferry Lakeside II. Cushman & Wakefield’s Larry Downey, Adam Madison and Taylor Hick represented the tenant in the transaction. CBRE’s Bryan Taute and Will Mask represented the owner.