Sales Transactions
1. Bonesta Inc. purchased three assisted living facilities from Sante Partners in a portfolio transaction totaling $75.61M. The properties were:
- Santé of North Scottsdale, a 52.4KSF facility at 17490 N. 93rd St. in Scottsdale, which sold for $27.21M;
- Santé of Mesa, a 48.3KSF facility at 5358 E. Baseline Road in Mesa, which sold for $24.29M, and
- Santé of Surprise, a 49.9KSF facility at 14775 W. Yorkshire Dr. in Surprise, which sold for $24.11M.
2. U.S. Merchants purchased a 454KSF industrial building at 13401 W. Sweetwater Ave. in Surprise for $63.89M from Mohr Capital. The property is part of West Summit at Surprise, a two-building industrial park totaling more than 704KSF. JLL’s Anthony Lydon, John Lydon and Kelly Royle represented the seller. The facility is located within Surprise’s railplex and includes access to a BNSF rail line along the western portion of the property.
3. Bloomfield Capital purchased the Broadway Star Shopping Center at 7525-7543 E. Broadway in Tucson for $4M. Broadway Star Partners LLC sold the 32.7KSF shopping center. Sonoran Ventures’ Nancy McClure, as well as CBRE’s John Read, Matt Burson and Trent Steeves, represented the seller. Volk Company’s Jeramy Price represented the buyer.
4. Lippow/Bablak 1 LLC and Lippow/Kyrene 1 LLC, affiliates of Lippow Development Company, purchased a 6.1KSF two-tenant retail property at 6450 E. Grant Road in Tucson for $3.85M. The seller was Grant Wilmot Retail LLC. Constructed in 2015 on approximately 0.86 acres, the property is occupied by Prep & Pastry on Grant and Sauce Pizza & Wine and includes approximately 50 parking spaces. David Carroll of Paul Ash Commercial Real Estate handled the transaction for the buyer.
5. MTT Craycroft LLC recently purchased the three-building Craycroft Plaza office complex for $2.55M. The property, located at 1011 N. Craycroft Road in Tucson, was sold by Craycroft Plaza, LLC, et al. Larsen Baker’s Isaac Figueroa represented the seller, while Oxford Realty Advisor’s Robert Nolan represented the buyer.
Lease Transactions
6. Dignity Health signed a 25.4KSF lease at the Burgbacher Building within Park Central in Phoenix. The new facility will house one of Dignity Health’s cardiology groups and provide cardiology and cardiology subspecialty services, along with in-office diagnostic testing. The center is expected to open in approximately six months. Phil Wurth of CBRE represented Dignity Health in the transaction. Margaret Lloyd and Bill Cook of Plaza Companies, along with Andrew Cheney of Lee & Associates, represented the Park Central ownership group.