Sales Transactions
1. Brookhollow sold a 279.8KSF frozen food production facility at 7000 W. Buckeye Road for $57M. The facility was purchased by SENTRE Partners. The seller and buyer were both represented by Cushman & Wakefield’s Andy Markham, Will Strong, Phil Haenel, Michael Haenel, Molly Hunt, Foster Bundy, Justin Smith, Madeline Warren and Jack Stamets.
2. Kieckhefer Properties sold the five-building industrial property at 550 S. Ellis St. in Chandler for $45M. Baron Properties purchased the property, which totals 186.3KSF.
3. Harrison Properties sold the two-building industrial property at 425 and 475 E. Buckeye Road in Phoenix for $35M. Longpoint purchased the asset. The first building is 64.7KSF, while the second is 105.9KSF.
4. Northmarq arranged the $30M sale and $21.8M financing of Solana Place at Carlton Commons, a 113-unit Build-to-Rent community at 18 S. Boniface Lane in Casa Grande. The seller was D.R. Horton, and the buyer was CALCAP Advisors. The acquisition financing was secured through Northmarq’s Fannie Mae DUS platform.
5. Urban 148, a 148-unit garden-style apartment community at 1609 W. Glendale Ave. in Phoenix, sold for $24.1M. 29th Street Capital purchased the property from Urban Communities. Colliers handled the sale and arranged acquisition financing through Colliers Mortgage.
6. Cushman & Wakefield announced it had completed the sale of Scottsdale Airpark Corporate Center. The 57.4KSF two-building office and industrial property is located at 15020 and 15030 N. Hayden Road in Scottsdale. The final sale price was $13M. Michael Kitlica, Tracy Cartledge and Robert Buckley of Cushman & Wakefield brokered the sale between CEJ SCOTTSDALE AIRPARK CORPORATE CENTER, LLC and Dunbar SACC LLC.
7. CBRE has announced the $10.3M sale of a 37.5KSF office property at 14631 N. Scottsdale Road in Scottsdale. Bell Bank acquired the property. CBRE’s Geoffrey Turbow, who partnered with Shay Bolton and Kirill Azovtsev of Savills, represented the private seller. The property sits on 112KSF of land and is currently 84.5% leased. Bell Bank intends to occupy the building and expand its footprint over time as space becomes available.
8. Kidder Mathews brokered the $7.2M sale of a 38-acre residential development site at the SEC of 128th Street and Ranch Gate Road in Scottsdale. The buyer was C&W Investments LLC, and the seller was Denise Bixler.
9. CBRE has arranged the $6.02M sale of a single-tenant ground lease property located at 1160 E. University Dr. in Tempe to an Arizona-based investor. This investment opportunity features a brand-new 15-year corporate absolute triple-net ground lease with Chick-fil-A. CBRE’s Benjamin Farthing and Owen Littrell represented the seller, Launch Development Group.
10. Bob Speedway, LLC purchased 88.8KSF of retail space at 9550 E. Golf Links Road in Tucson from Leyenda En Tiempo for $5.7M. Greg Furrier and Natalie Furrier with Cushman & Wakefield | PICOR handled the transaction.
11. Stos Partners purchased a 20.9KSF infill industrial warehouse at 1746-1748 W. Fillmore St. in Phoenix for $2.9M. The seller was undisclosed.
12. JLL Capital Markets announced it has closed the sale of Inspira Arrowhead, a 165-unit senior housing community in Glendale. JLL’s Senior Housing Capital Markets team represented the seller, a fund managed by affiliates of Fortress Investment Group, and procured the unnamed buyer. Financial details were not disclosed.
13. American Leadership Academy purchased 40 acres near Broadway and Rainbow Roads in Buckeye for a future campus. Menlo Group Commercial Real Estate represented the buyer. Financial details were not disclosed.
Lease Transactions
14. Kestra Holdings leased 38.9KSF at 63 S. Rockford Dr. within the Rio 2100 mixed-use development near Tempe Marketplace. The office will serve as the company’s secondary headquarters, housing client service and operations teams. CBRE represented the tenant.