1. A group of investors led by Colorado investor Daniel Feiner purchased Alanza Place Apartments, a 360-unit multifamily asset at 1121 N. 44th Street, Phoenix, for more than $90M. Berkadia’s Andrew Curtis, Mark Forrester and Dan Cheyne represented the seller, an entity affiliated with Sares-Regis Group.
2. Knightvest Management acquired Shade at Desert Ridge, a 14-building, 342-unit apartment complex at 21150 N. Tatum Boulevard, Phoenix, for $87M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate of Phoenix Multifamily Institutional Properties represented the seller, Ergas Group. Rocco Mandala of CBRE Debt & Structured Finance arranged debt on behalf of the buyers.
3. A private family buyer purchased Enclave at Arrowhead, a 240-unit multifamily community at 8092 W. Paradise Lane, Peoria, for $63M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate of Phoenix Multifamily Institutional Properties represented the seller, R&V Management and Wermers Properties.
4. Western Wealth Capital purchased Tides at North Phoenix, a 316-unit garden-style multifamily property at 2222 W. Beardsley Road, Phoenix, for $54M. Senior Managing Directors Ric Holway and Mark Forrester and Senior Director Dan Cheyne of Berkadia’s Phoenix office represented the seller, Tides Equities.
5. Tides Equities, LLC purchased Cinnabarr Apartments, a 430-unit multifamily property at 141 W. Glendale Avenue, Phoenix, for $53.5M. NorthMarq’s Phoenix investment sales team of Trevor Koskovich, president, Bill Hahn, executive vice president and Jesse Hudson represented the buyer and seller, JK Residential Services, Inc.
6. Bridge Investment Group purchased a two-property multifamily portfolio in Tucson. The properties are Equestrian, a 288-unit complex that sold for $47.7M, and Ridgeline, a 272-unit property that traded for $42.5M. Hamid Panahi, along with Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, procured the buyer and represented the seller, Bascom Arizona Ventures.
7. Shea Homes was the winning bidder on December 16th of a 415-acre parcel of state trust land in the West Valley. The homebuilder was the only bidder at the Arizona State Land Department auction, taking the property for the minimum bid of $46.77M.
8. An entity affiliated with Lexin Capital purchased a 146.1KSF industrial building at 3115 N. Higley Road, Mesa, from The Opus Group for $36M. The building was built in 2017 within Longbow Business Park and Golf Club. Hartford Investment Management provided $21.6M in new debt for the deal.
9. SB Real Estate Partners purchased Casa Anita Apartments, an 18-building, 224-unit multifamily community at 1801 N. 83rd Avenue, Phoenix, for $35.3M. The property had previously been under private ownership with a California-based family since 2005. SBREP will rebrand the property as Portola West Valley.
10. Mapleton Investments purchased a fully leased 130.3KSF industrial manufacturing/R&D asset at 3440 E. University Drive, Phoenix, for $27M. The investment sales team of Chris Toci and Chad Littell of Cushman and Wakefield’s Phoenix office represented the seller, Artis Real Estate Investment Trust. The tenant is a leading supplier of semiconductor process equipment for wafer processing.
11. A California-based private investment firm purchased The Grove on Glendale Townhomes, a 56-unit townhome development at 917 W. Glendale Avenue, Phoenix, for $25.5M. ABI Multifamily’s Alon Shnitzer, John Kobierowski, Rue Bax, Doug Lazovick, and Eddie Chang represented the buyer and seller, an Arizona-based private investment developer focused on built-for-rent communities.
12. Second Tucson Venture, LLC purchased the 144-unit, eight-story Herbert Residential and the adjacent nine-unit Armory Park Villas in Tucson, for $20.4M, from Holualoa Companies. Art Wadlund and Clint Wadlund of Berkadia were the brokers.
13. CA Prescott Lakes Owner LLC purchased Prescott Lakes, a 128-unit age-restricted apartment community in Phoenix, from BAZV Prescott Lakes LLC for an undisclosed price. Cindy Cooke, Brad Cooke, Matt Roach, Chris Roach and Tim Dulany of Colliers International handled the transaction.
14. A private investor purchased Vesta on 12th, a 104-unit apartment community at 6333 N. 12th Street, Phoenix, for $18.25M. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller, a private Portland, Ore.-based investor. The team also represented the buyer in the 1031-exchange.
15. An affiliate of STAG Industrial, Inc. purchased a 104.4KSF, fully leased, single-tenant light industrial building at 464 E. Chilton Drive, Chandler, for $14.25M. The JLL Capital Markets team marketed the property on behalf of the seller, Cohen Asset Management, Inc.
16. Dalfen Industrial has acquired the 109.5KSF Gilbert Distribution Center at 1495 E Baseline Road in Gilbert, for an undisclosed amount. The building is 100 percent leased to two long-standing tenants, Scrapbook.com and TLC Label.
17. Pennybacker Capital purchased the 89.4KSF ViaWest Sky Harbor Industrial located near the corner of 7th and Jackson Streets, for $11.2M. Will Strong, Andy Markham, Mike Haenel, and Phil Haenel of Cushman & Wakefield represented the seller, ViaWest Group. The buyer was self-represented.
18. Richmond American Homes purchased an additional 139 lots in the Red Rock Village MPC for $6.88M. The lots were purchased from Sunbelt Holdings. Will White and John Carroll of Land Advisors Tucson handled the transaction.
19. Fully Loaded Deliveries purchased a 33KSF building for its headquarters in November for approximately $4.2M. Previously, the company had been working out of two separate warehouses in the Valley it was leasing, which totaled 18KSF.
20. Oracle & Magee LLC, an affiliate of Town West Realty purchased a portion of the Entrada del Oro shopping center at 7861 and 7871 N. Oracle Road, Oro Valley, for $4.2M, from The Wright-Pantano LLC. VOLK Company agents Rick Borane and Terry Dahlstrom handled the sale. The asset was fully leased and occupied by O’Reilly Auto Parts and a Sleep Solutions Outlet.
21. 35th St 1401 N LLC purchased Casa Mendoza Apartments, a 34-unit apartment complex along 35th Street, just south of McDowell Road, for $3.275M. Zack Mishkin of ORION Investment Real Estate represented the seller, PenGol Property Management Inc., as well as the buyer.
22. A group of private local investors purchased a three-story, 18KSF office property at 4203 E. Indian School Road, Phoenix, for $2.85M. Geoff Turbow, Matt Pourcho, Anthony DeLorenzo, Gary Stache, Sean Spellman, Corey Hawley and Jimmy Cornish of CBRE represented the undisclosed seller. The buyer was self-represented.
23. A limited liability company procured by Karly Iacono of Marcus & Millichap’s New Jersey office purchased Aspen Dental, a 3.5KSF net-leased property at 17018 W. Bell Road, Surprise, for $2.643M. Chris Lind, Mark Ruble and Jamie Medress of Marcus & Millichap’s Phoenix office had the exclusive listing to market the property on behalf of the seller, a private investor.
24. An individual/personal trust purchased Heatherbrae, a 23-unit apartment property at 2121 & 2201 W. Heatherbrae Drive, Phoenix, for $2.6M, from an undisclosed seller. Paul Bay, vice president investments in Marcus & Millichap’s Phoenix office, procured the buyer.
25. A private investor purchased the Star Valley Motel & Mobile Home Park, 3758 E. AZ Highway 260, and C-Bar Diamond Mobile Home & RV Park, 3760 E. AZ Highway 260, for $2M. Michael Escobedo and Dustin Wilmer of Marcus & Millichap procured the buyer and had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.
26. The RealReal Inc. has leased 593.6KSF at the Liberty Logistics Center I, 563 S. 63rd Avenue, Phoenix, for a new distribution center. The company will occupy the entire Prologis-owned building.
27. Companies at FLITE Goodyear are currently expanding and enhancing the success of the 1MSF mixed-use campus. PSG is expanding from 10KSF to 30KSF and CAVCO West is now occupying more than 250KSF.
28. Avanti Windows & Doors, LLC leased 10.5KSF of industrial space located in the Butterfield Tech Center II, 4650 S. Coach Drive, Suite 160, Tucson, from Coach Holdings, LLC. Robert C. Glaser, Principal, SIOR, CCIM, and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord. Gerald Norton, with The Brookshire Company represented the tenant.
29. BHP Copper, Inc. leased 10.2KSF of office space at 6840 N. Oracle Road, Suite 100, Tucson, from Pima Federal Credit Union. Thomas J. Nieman, Principal, and Office Specialist with Cushman & Wakefield | PICOR and Morgan Relyea Colt with Cushman & Wakefield, Houston, represented the tenant. John G. Yarborough with Romano Real Estate Corporation represented the landlord.
30. PM&M Electric, Inc., d/b/a Titan Solar Power, leased a 10.1KSF industrial building at 3828 S. Evans Boulevard, Tucson, from GS Eternal, LLC – Series C. Paul Hooker, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord.
31. Local Motors Inc. is relocating its Chandler headquarters and expanding its East Valley footprint. The company signed a 10KSF lease at 7400 W. Detroit Street, which will be 80 percent office space with the remaining 20 percent used for research and development. The new space is about 2.5 miles from the company’s former headquarters.