Sales Transactions
1. Blackstone, in care of LivCor, sold Arrowhead Summit, a 412-unit apartment community at 18330 N. 79th Ave. in Glendale, to an entity tracing to NALS Apartment Homes for $101.35M. Asher Gunter, Matt Peach and Austin Groen of CBRE negotiated the transaction.
2. Grandstone at Sunrise at the intersection of Happy Valley Road and Lake Pleasant Parkway in Peoria was recently purchased by Met Life for $45.8M. The 104-unit Build-to-Rent community was sold by Thompson Thrift. The transaction was handled by IPA’s Steve Gebing and Cliff David.
3. Acquire Tucson LLC, an affiliate of JRD Capital LLC, purchased Desert Square Shopping Center, an 88.4KSF retail property in Tucson, for $7.95M. The seller was not disclosed.
4. Broadway Star Partners LLC sold Broadway Star Shopping Center, a 23.7KSF retail strip center at 7525-7543 E. Broadway Blvd. in Tucson, for $4M to Bloomfield Capital LLC. Nancy A. McClure of Sonoran Ventures LLC, in partnership with John Read, Matt Burson and Trent Steeves of CBRE, represented the seller, while Jeremy Price of Volk Company represented the buyer.
Lease Transactions
5. Amazon leased Southern Industrial Center, a 1.2MSF industrial facility in Buckeye. Cushman & Wakefield’s Mike Haenel, Phil Haenel, Andy Markham and Foster Bundy represented the landlord. Patrick J. Feeney Jr., Danny Calihan and Tyler Vowels of CBRE represented the tenant.
6. Fullscript signed a 171.9KSF lease at Chandler Airpark 202, a four-building industrial park at 1700 E. Northrop Blvd. in Chandler. Kyle Westfall and Michael Ciummei of JLL represented the tenant, while Mike Haenel, Andy Markham and Justin Smith of Cushman & Wakefield represented the owner, TA Realty.
7. PickleRage is leasing a 27.5KSF space at 7400 E. Tierra Buena Lane in Scottsdale. The facility is slated to contain nine indoor pickleball courts. The club is intended to attract players of all skill levels and will feature leagues, lessons and clinics.