Sales Transactions
1. Cushman & Wakefield announced the firm brokered a portfolio hotel sale comprising a 180-room Sheraton and 129-room Courtyard by Marriott hotels in Mesa. HSL Properties acquired the hospitality properties for a combined $50.3M. The seller, Power Hotel Group, was represented by Bill Murney and Mike Montoya with C&W. The hotels have access to both Loop 101 and Loop 202.
2. Preissman Perris, LLC represented itself in the $13.7M purchase of a 72KSF office building at 3360 E. Hemisphere Loop at Tucson International Business Center in Tucson. The seller, 3360 E. Hemisphere Loop, LLC was represented by Peak Commercial’s David Meir, Jack Minassian and Alexis Metoyer. The location was a 2008 build-to-suit for Raytheon Missile Systems, which will continue to lease the property.
3. CBRE announced the sale of Scottsdale Executive Square, a 29.8KSF office property at 13951 N. Scottsdale Road in Scottsdale. The property was sold to a private buyer for $4.8M. CBRE’s Geoffrey Turbow and Philip Wurth represented the seller. Neither party was identified in the announcement.
4. Mister Car Wash purchased the 23.6KSF former BevMo building at 4646 N. Oracle Road in Tucson from Oracle Partners LLC for $3.3M. The parcel is 1.6 acres, with redevelopment commencing soon. Aaron LaPrise with Cushman & Wakefield | PICOR represented both parties. C&W | PICOR’s Greg Furrier represented the seller.
5. Acorn Ventures sold the industrial park at 6898-6910 N. Camino Martin in Marana for $2.5M. The 26.4KSF industrial park can accommodate up to nine tenants. BRD Realty’s Max Fisher represented the seller. Cushman & Wakefield | PICOR’s Alex Demeroutis and Andrew Keim represented the buyer, FJM Investments.
Lease Transactions
6. JLL announced it finalized a lease with Visit Phoenix, initiating the non-profit organization’s move into 24.7KSF at CityScape. Located at 1 E. Washington St., CityScape totals 1.2MSF of mixed-use space. JLL’s Mike Gordon represented Visit Phoenix in the lease negotiations. JLL’s Ryan Timpani and Brett Thompson represented the building developer and owner, RED Development.
7. Caliber Bodyworks of Arizona LLC (dba Caliber Collision) leased 27.8KSF of retail space at 3959 N. Oracle Road in Tucson from BL Portfolio. Dave Hammack and Aaron LaPrise with Cushman & Wakefield | PICOR represented the landlord. Jenifer Rose with EXP Commercial represented the tenant.
8. Kilgore Manufacturing sublet 14KSF of industrial space at 6424 S. Tucson Blvd. from BOMHOFF LIMITED. Alex Demeroutis with Cushman & Wakefield | PICOR represented the tenant. Tim Healy with CBRE represented the landlord.