Sales Transactions
1. Bascom Arizona Ventures, LLC, an affiliate of The Bascom Group, LLC, acquired The Retreat at Speedway, a 304-unit multifamily community in Tucson, for $53.4M. The garden-style property, constructed in 2001, is located along Speedway Blvd. near the Catalina Foothills. Plans call for a value-add capital improvement program in the community. Institutional Property Advisors’ Steve Gebing, Cliff David, Hamid Panahi, and Clint Wadlund advised both the buyer and seller. Bryten Real Estate Partners will provide property management.
2. Cushman & Wakefield arranged the $23M sale of West 10 Business Center, a 146.7KSF industrial property at 4703 West Brill St. in southwest Phoenix. The I-10–adjacent facility was sold by Bixby Capital Management to Baron Properties. Cushman & Wakefield represented the seller and procured the buyer. The firm has also been retained as the exclusive leasing agent for the property.
3. Eastpoint Kolb Additional Investors LLC sold Eastpoint Marketplace at 6964 E. 22nd St. in Tucson for $12.85M. Tucson Newcrest LLC, c/o Prodige Investments LLC, purchased the 57.2KSF shopping center. Cushman & Wakefield | PICOR’s Rob Tomlinson represented both parties.
4. TW Shannon Park LLC purchased Shannon Park Apartments, a 90-unit multifamily community at 3737 N. Country Club Road in Tucson, for $12.8M. The masonry-built property totals approximately 68.5KSF on roughly 6.7 acres. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer. The seller was represented by Matt Bollinger with Realty Executives Arizona Territory.
5. Sunlit Arizona purchased a 40-acre industrial site in Casa Grande for $9.2M. The property was sold by Auza Ranches LLC. Land Advisors Organization represented both the buyer and seller. The site is planned for development of a manufacturing facility to support the semiconductor supply chain.
6. VNS Holdings LLC purchased a 36.1KSF industrial flex building at 525 W. Baseline Road in Mesa for nearly $9M. Baseline 525 LLC sold the two-story building.
7. The Mesa campus of Arizona College at 163 S. Dobson Road was sold by Learning Realty Partners of Carson City, Nev., to Deerwood Retail Opportunities of Santa Ana, Calif., for $7.2M. Colliers handled the transaction. The fully remodeled, single-building campus totals approximately 24KSF on a 2.3-acre site and has been fully occupied by Arizona College since 2012.
8. Tempe LOGISTICS LLC sold a 24.2KSF warehouse/office building at 733 W. 22nd St. at the Broadway Industrial Park in Tempe. AETAZHQ25 LLC purchased the property for $5.1M and was represented by Orion Investment Real Estate’s Nick Miner and JT Taylor.
9. A California-based investor purchased an 18.1KSF family entertainment property at the SWC of 35th and Southern avenues in Phoenix for $2.8M. Rein & Grossoehme represented both the buyer and seller.
10. Marzocci Imports at 797 W. Guadalupe Road in Gilbert was recently purchased by an entity connected to Heath Harris for $2.6M. An entity tracing to BDM Customs sold the 5.4KSF automotive repair facility.
11. A 9.3KSF shop building at 240 S. Country Club Dr. in Mesa sold for $2.6M. Rein & Grossoehme Commercial Real Estate represented the seller.
12. Cushman & Wakefield arranged the $2.6M sale of a single-tenant Marathon gas station at 16455 N. Oracle Road in Tucson. The 1.7KSF retail property sits on a 1.1-acre site in the North Tucson submarket. Cushman & Wakefield represented the seller in the transaction.
13. Oneten REI Main, LLC purchased a 10.2KSF, fully leased commercial building at 910 N. Scottsdale Road in Tempe for $2.3M. The property was sold by BEC Autoplex, Inc. Rein & Grossoehme Commercial Real Estate represented both the buyer and seller.
Lease Transactions
14. Guardian Pharmacy of Tucson, LLC leased 17.7KSF of retail space at The Shoppes at Oracle, 8500 N. Oracle Road, Bldg. 3 in Tucson from Shoppes at Oracle Road, LLC. Paul Hooker with Cushman & Wakefield | PICOR and Steven Taylor with Cushman & Wakefield U.S., Inc. – Atlanta represented the tenant. Robert Nolan with Oxford Realty Advisors represented the landlord.