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Commercial Real Estate Transactions 06-02-20

7. Branded Bills. Credit: JLL

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 represented the buyer. 

2. Marcus & Millichap announced the $12.85M sale of Ocotillo Apartments, a 173-unit apartment complex at 1780 W. Missouri Avenue, Phoenix. Rich Butler, a Senior Vice President Investments in Marcus & Millichap’s Phoenix office as well as Sean Connolly, a multifamily specialist negotiated the sale on behalf of both the buyer and the seller. 

3. Wentworth Property Company purchased Southern Pavilion Self Storage of Mesa, a 483-unit, 47.9KSF self-storage facility in Mesa for an undisclosed amount. James Behrmann, Investment Associate in Marcus & Millichap’s Phoenix office, alongside Adam Schlosser, Senior Vice President Investments in the firm’s Denver office had the exclusive listing to market the property on behalf of the seller, HCA Management Co. LLC, and procured the buyer. 

4. Visionary Holdings, LLC purchased 14KSF of office space in the Oracle-Ina Professional Plaza, 7470 N. Oracle Road, Suite 100, Tucson, for $2.81M. Richard M. Kleiner, MBA, and Thomas J. Nieman, Principals and Office Specialists with Cushman & Wakefield | PICOR, represented the seller, 7470 N Oracle Rd, LLC. Andrew Sternberg with NAI Horizon, Tucson, represented the buyer. 

5. Marcus & Millichap announced the $2.58M sale of an approximately 11.8KSF industrial auto service building at 1426 N. Eliseo C. Felix Jr. Way, Avondale. Paul Berkner, an industrial investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also procured by Berkner. 

6. Marcus & Millichap announced the $2.522M sale of AAMCO, a 4.4KSF triple-net-lease property at 20215 N. John Wayne Parkway, Maricopa. Mark Ruble, Chris Lind, and Jamie Medress, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was procured by Adam Levin and Robert Johnston, investment specialists in Marcus & Millichap’s Palo Alto office. 

Lease Transactions 

7. The Phoenix office of JLL has completed a lease that relocates and expands custom headwear and apparel company Branded Bills into a new 13.1KSF space at the Broadway 101 Commerce Park, 2340 W. Broadway Road, Mesa. JLL Managing Director Keith Lammersen represented Branded Bills. 

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