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Commercial Real Estate Transactions 09-08-20

7. Verrado Marketside West. Credit: Cushman & Wakefield

Sales Transactions 

1. RK Properties has sold Northern Greens Apartments, a 420-unit multifamily property located in Gilbert, for $55.5on 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 Parkview Corporate Center, a 24.2KSF, Class A multi-tenant office building at 8355 E. Hartford Drive, Scottsdale, for an undisclosed amount. Barry Gabel, Chris Marchildon and Will Mast of CBRE in Phoenix represented the seller, Melcor Developments. 

3. A California-based private investment firm purchased Moon Mountain Apartments, a 34-unit garden-style multifamily community at 1500 W. Thunderbird Road, Phoenix, for $8.5M. ABI Multifamily Vice President Royce Munroe represented both the buyer and seller, and Arizona-based private investment firm. 

4. Boavida Group purchased the 132-unit Casa Mobile Home Ranch, 1409 N. French Street, and the 26-unit, Embers Mobile Home Park, 1431 N. French Street in Casa Grande for $4.35M. NAI Horizon Manufactured Housing Specialist Andrew Warner represented the seller, Casa MHP LLC. 

5. Mattamy Homes closed on 38 finished lots in the Dove Mountain MPC for $4.123M. The seller was Cottonwood Properties, Inc. The transaction was handled by Will White and John Carroll of Land Advisors Organization in Tucson. 

6. The Village Mobile Home Park, the 55+ park with 55 total sites located at 1501 N. Venice Avenue, Tucson sold for $2.1M. John Sheedy, Senior Vice President at Park Brokerage Inc. handled the transaction by exclusively representing the undisclosed seller and procuring the experienced, undisclosed buyer. 

7. Cushman & Wakefield announced the firm has completed the final PAD sale within Buckeye’s Verrado Marketside West, a 13-acre development consisting of 11 distinct PADs that have all been sold separately to a variety of owner/occupants consisting of retail, restaurant, hotel, medical and storage users. Brent Mallonee and Mark Bramlett with Cushman & Wakefield’s Phoenix office represented the seller, DMB White Tank, LLC, in each of the sale transactions. A valuation was not disclosed. 

Lease Transactions 

8. Spirit Halloween Superstores, LLC leased a 21.5KSF seasonal pop-up store at 6230 E. Broadway Boulevard, Suite 100. The store will remain open through early November. Nancy McClure of CBRE represented the landlord, K-GAM Broadway Wilmot, LLC. 

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