Sales Transactions
1. CBRE handled the sale of Sentio, a 325-unit multifamily community in north Phoenix. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented Hines in the sale of the community. IDEAL Capital Group purchased Sentio for $108M. Trevor Breaux, Troy Tegeler and Ryan Greer, with the CBRE Debt & Structured Finance team, arranged the financing on behalf of the buyer. News reports say TSMC is the master tenant for the property, and Mark-Taylor Residential Inc. is the property manager.
2. Cushman & Wakefield announced the $24.3M sale of 2632 E. Chambers St., a nearly 115KSF Class A industrial building in Phoenix. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield represented both the buyer, MDC Realty Advisors, and the seller, American Refrigerator Supplies, Inc. ARS also executed a leaseback of the entire facility.
3. Hinkson Company has bought Northpoint Village—a 12-acre, 113.5KSF retail center on Higley Road in Mesa—for $10.6M. The center is anchored by a Basha’s grocery store, which is undergoing a $1M renovation, and an Ace Hardware, which recently executed a 10-year lease renewal.
4. Andrew Arambula, Tom Palestina and Bryce Neagle of ABI Multifamily represented the buyer in the $2.45M sale of 1525 W. Indian School Rd., an 18-unit apartment complex in Phoenix. Neither buyer nor seller were disclosed.
5. ABI Multifamily brokered the $2.3M sale of Laurie Lane Apartments, an eight-unit apartment complex in Glendale. John Klocek and Patrick Burch of ABI Multifamily represented the seller. Neither the buyer nor seller were disclosed.
6. Peak Development Partners and Hungry Investments have bought a 5.5-acre site at Chandler Blvd. and Cooper Road, where they plan to start building out multiple retail pads in Q4 2024. Opening is expected in Q1 2025. The seller was NGAI Family Trust. No dollar amounts were disclosed for the transaction.
Lease Transactions
7. ITC Personal In-Home Care LLC leased 10.9KSF of office space at 440 N. Bonita Ave in Tucson, from Kozolchyk National Law Center. Jason Shaltiel and Thomas J. Nieman with Cushman & Wakefield | PICOR represented the tenant. Bruce Suppes and Diane Carlson with CBRE, Tucson, represented the landlord.