Sales Transactions
1. Copper Point Business Parkat 3530 S. Val Vista Dr. in Gilbert was recently sold to Transwestern Real Estate Services. The 83.4KSF building was sold by RX Health & Science Trust for $36M. The two-story office space mostly consists of medical tenants.
2. A five-property industrial and retail portfolio was purchased by Larsen Baker for $8M. Four of the buildings are in Tucson, while the final building is in Phoenix. Combined, the five buildings total 126.7KSF. Sydco Realty Company sold the properties. Each building came with tenants, and the new owners are currently planning renovations. Both companies were self-represented.
3. 1402 W. Victory Lane in Phoenix was sold to the Trustee of the Mohrschladt Estate Trust, represented by Rein and Grossoehme Commercial Real Estate, for $5.3M. The seller was LPC Pinnacle, LLC., represented by Daum Commercial Real Estate Services. The property is 15.2KSF, built in 2022 and 100% leased at closing.
4. A 2.8KSF retail building at 521 W McDowell Road was sold to 521 W McDowell Partners, LLC., represented by ORION Investment Real Estate. Impeccable Plaza, LLC, represented by Southwest Retail Group, sold the property. The property currently houses Le Taco Bar, a Mexican restaurant.
Lease Transactions
5. Barnhart Crane & Rigging has signed a lease for 86.9KSF at Goodyear Crossing Industrial Park, Phase II. ViaWest Group leased the property, which is fully occupied. Goodyear Crossing Industrial Park, Phase II, is located at the NWC of Sarival Avenue and Commerce Drive within an Opportunity Zone.
6. Just Between Friends Tucson leased 33.6KSF of retail space in Oracle Plaza at 6310 N. Oracle Road in Tucson from Oracle Plaza, LLC. Natalie Furrier and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.
7. Transwestern Real Estate Services announced it represented Chesnut Properties, LLC in a 14.2KSF lease with Accident Law Group at Papago Gateway Center, located at 350 W. Washington St. in Tempe. Mark Stratz of Transwestern represented Chesnut, while Brett C. Angner of Everyday Investment Realty represented Accident Law Group. The law firm is scheduled to move into the space May 2025.