Commercial Real Estate

Sales Transactions  1. The Praedium Group purchased Liv North Valley, a 385-unit luxury multifamily asset adjacent to the intersection of Interstate 17 and Loop 303/Bob Stump Memorial Highway, for $90M. Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap, represented the …

Awards & Accolades  1. Engineering News-Record (ENR) Southwest selected the $275M, 670KSF Banner – University Medical Center tower and the Interstate 10 (I-10) interchange at Ina Road as the 2020 best Healthcare and Highway/Bridge projects. Both projects were completed by Sundt Construction, Inc. with DPR Construction partnering with them on the …

Sales Transactions  1. Fundamental Income announced its acquisition of vehicle inspection and emissions testing centers for ~$56M from Opus Group AB. Opus, which is leasing the properties back from Fundamental, will continue uninterrupted operations at the sites as part of …

Sales Transactions  1. An undisclosed buyer purchased The Vineyard Apartments, a 300-unit multifamily community at 6706 N. Dysart Road, Glendale, for $41M. Newmark Knight Frank Director Chris Canter, Executive Managing Director Brad Goff and Senior Managing Director …

Sales Transactions  1. RK Properties has sold Northern Greens Apartments, a 420-unit multifamily property located in Gilbert, for $55.5M on behalf of one of its tenant–in-common 1031 exchange investment programs and the RK Opportunity Fund III.  2. Mark IV Capital, Inc. purchased Perimeter …

Sales Transactions  1. COMSovereign Holding Corp. a U.S.-based developer of 4G LTE and 5G connectivity and infrastructures, announced that it has signed an agreement to acquire a 140KSF building on 12.7 acres at 5120 S. Julian Drive, Tucson, for its …

Sales Transactions  1. An unnamed institutional buyer purchased a 50.4KSF Target-occupied building at 1625 Camelback Road, Phoenix, for $20.3M. Newmark Knight Frank Net Lease Capital Markets Executive Managing Director Matt Berres and Director Samer Khalil, in cooperation with Managing Director …

Sales Transactions  1. Apple Hospitality REIT, Inc. purchased the newly constructed, 105-room Hyatt House and 154-room Hyatt Place at 601 E. 6th Street, Tempe, for a gross purchase price of approximately $64.6M. The hotels are part of the initial phase …

Sales Transactions  1. MHP #1, LLC purchased Desert Pueblo Mobile Home Community, 55+ community with 418 spaces at 1302 W. Ajo Way, Tucson, for $30M. Derek Harris of HARRIS Manufactured Housing & Commercial Brokerage represented both the buyer and seller, …

Sales Transactions  1. Knightvest Capital purchased Signature Place, a 300-unit multifamily community at 600 W. Grove Parkwayin south Tempe for $62.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Western Wealth Capital.  2. A joint venture …

Sales Transactions  1. Elim Mining Inc. has completed a $19.1M financing package and will complete its acquisition of the Cactus Mine. The copper mine is located near Casa Grande.   2. Ivanhoe/Evergreen purchased a 96KSF industrial building at 6615 W. …

Sales Transactions  1. Pennybacker Capital purchased The Osborn Apartments, a 31-building, 302-unit multifamily complex near 32nd Street and Osborn Road, Phoenix, for $42M. Todd Braum, with Lee & Associates’ Arizona Apartment Group represented both the buyer and seller, Bean Investment …

Sales Transactions  1. Cohen Asset Management purchased a 325.8KSF industrial building at 7400 W. Buckeye Road, for $30.7M, from Kansas City Life Insurance Co. Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers International in Arizona handled the sale transaction.  2. Fairfield …

Sales Transactions  1. DS Tucson Landlord, LLC, an affiliate of SunTrust Equity Funding LLC purchased the 15.6KSF Walgreens at 4685 E. Grant Road, Tucson, for approximately $7M. There were no outside brokers involved in the transaction.  2. A private …

Sales Transactions  1. Tides Equities teamed with FCP to buy the Tides at South Tempe, a 442-unit apartment complex at 4130 S. Mill Avenue, for $71.5M.  2. Knightvest Capital purchased the Capital Place Apartments, five-story, 292-unit complex at 11 S. 12th Street, Phoenix, …

Sales Transactions  1. Ascent Real Estate Advisors purchased the Wells Fargo Gainey Center building, a 141KSF building at the SEC of Scottsdale and Doubletree Ranch roads, for $43.5M. Barry Gabel, Chris Marchildon and Will Mast of CBRE in Phoenix represented the seller, Principal Real Estate Investors.  2. Long …

Sales Transactions  1. MHP #1, LLC, an affiliate of the Vanderhoot Family Trust purchased Desert Pueblo Mobile Home Community, a 55+ community with 418 spaces with 30 park owned homes, and approximately 70 spaces being used for RV parking …

Sales Transactions  1. The Carlyle Group purchased four older Mesa mobile home parks for a total of $230M. Carlyle, through its Delaware CPI LLC, purchased these parks:  Citrus Gardens at 4065 E. University Drive for $80M.  El Mirage at 305 S. …

Sales Transactions  1. Valwood Mesquite LLC purchased Mesquite Corporate Center, a 79.5KSF, two-story, Class A office building at 14646 N. Kierland Boulevard, Scottsdale, for $19.471M. The Ron Schooler and Ken Elmer Team from Commercial Properties, Inc./CORFAC International’s Scottsdale office …

Sales Transactions  1. Valwood Element, LLC purchased Element at Kierland, a 57.7KSF upscale multi-tenant office building at 14614 N. Kierland Boulevard, Scottsdale, for $17.3M. Eric Wichterman and Mike Coover of Cushman & Wakefield represented both the buyer and seller, MACP Kierland …

Sales Transactions  1. NAI Horizon’s Lane Neville and Logan Crum negotiated a sale of the Corbins Electric corporate headquarters, a 52.7KSF industrial building at 4829 S. 38th Street, Phoenix, for $7M. NAI Horizon represented the buyer, Staffield Family, LLC. …

Sales Transactions  1. NetStreit recently bought the former Toys R Us store at 4519 N. Oracle, Tucson, for $5.91M. The 44.3KSF building is being converted into a Big Lots “Store of the Future.”  2. Champion 34 Arcadia, LLC purchased 34 Arcadia, a newly …

Sales Transactions  1. Sunroad Enterprises purchased Metro at Zanjero, a 253-unit multifamily community at 9450 W. Cabela Drive, Glendale, for $55.4M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Private Portfolio Group.  …