Sales Transactions
1. BKM Capital Partners, advised by Cushman & Wakefield, recently sold Rose Garden Business Park for $35.1M. The buyer in the transaction was an affiliate of the seller, whose name was not disclosed. Sitting at 1801-1831 W. Rose Garden Lane, the 100% leased industrial park is 159.3KSF on 10-plus acres.
2. Thomas Title & Escrow announced it facilitated the $24.5M sale of Miller Plaza. No address, transaction parties or representatives were identified. According to an inactive listing on Loopnet, Camelback Miller Plaza is a 15-acre, 158KSF retail center at the SWC of Miller and Camelback roads.
3. La Posada,at 6300 S. Headley Road in Tucson, was purchased by Break of Day Capital for $22.4M. The real estate firm intends to rebrand the 136-unit property as “Icon on Headley.” Element Property Company sold the multifamily development.
4. Arcadia Court, located at 2303 N. 44th St. in Phoenix, was sold to Armstrong Capital Development for $9.7M. The seller was 44 Arcadia, LLC, which Arileus Capital manages. Newmark represented both buyer and seller.
5. Target has purchased 10 acres in Mesa’s Medina Station. SimonCRE plans to build the 148KSF store after initially purchasing nearly 40 acres of land from Bela Flor Holdings. Subsequently, SimonCRE sold 10.6 acres of that land to Target for $5.8M. Bela Flor Holdings acquired the land in 2021 for $13.5M and filed plans for the location in 2023. According to SimonCRE, the other major anchor for the shopping center will be Dick’s Sporting Goods.
Lease Transactions
6. Kenco, a logistics company, has signed a lease for 641.9KSF of industrial space in Buckeye. Cushman & Wakefield represented landlord EQT Exeter. The building, located at 440 N. 215th Ave., is fully leased to Kenco. This is Kenco’s second major transaction in the West Valley, as they received permission in August 2024 to store petroleum products at a facility in Surprise.
7. Landlord K-GAM Broadway Craycroft LLC, represented by CBRE, recently finalized a lease with Savers in Tucson. Savers will relocate from its current location near the intersection of Broadway and Park Place Drive to 5530 E. Broadway Blvd., which was previously a Conn’s Home Plus. The leased property is 33.1KSF. Savers expects to open the location in the second half of this year after tenant improvements are complete.