Sales Transactions
1. Cushman & Wakefield has arranged the $18M sale of Pima Street Logistics Center, a 97.2KSF standalone industrial building on approximately 4.2 acres in Phoenix near Sky Harbor. The infill building is currently 100% leased to three tenants. The property was acquired by an Ares Management Real Estate fund and will be managed by Ares Industrial Management. C&W’sWill Strong, Michael Matchett and Molly Hunt represented the seller, Berkeley Partners.
2. MLS Realty LLC was represented by Keyser Commercial Real Estate in its sale of a 78.7KSF industrial property at 7885 N. Glen Harbor Blvd. The property sold for $15.6M. The seller was represented by Keyser’s Brian Uretzky. The deal also included a freshly negotiated lease.
3. The Chevron station/convenience store and U-Haul rental center at the NEC of Magee and Thornydale in Tucson sold for $3.1M. Cushman & Wakefield’s Chris Hollenbeck and Shane Carter represented the seller, 3780MGE, LLC. The investor, Auza Ranches, was self-represented. The NNN lease will last for 20 years.
Lease Transactions
4. GTI Fabrication signed a six-year lease at Lakin Park in Goodyear at the SWC of Cotton Lane and MC 85 along the future State Route 30. The full-building lease is for 530.3KSF. Clarius Partners and Walton Street Capital are developing the 4.5MSF Lakin Park. GTI will use the facility for light manufacturing and battery casing assembly.
5. Macerich Company announced the 65KSF lease of Seafood City Supermarket at Chandler Fashion Center. The supermarket will take over the former Sears space.
6. Tri Pointe Homes is expanding its lease at Gaine Center II in Scottsdale. Tri Pointe is moving suites to occupy approximately 34KSF of office space within the building at 8501 N. Scottsdale Road. Lee & Associates Arizona’s Andrew Cheney is the listing broker for the building owned by Reliance Management. Tri Pointe will move into the new space in April. Tri Pointe was represented by Keyser Commercial Real Estate’s Jonathan Keyser and Janel Wangsness.