Sales Transactions
1. Continental Realty Group purchased the Copper Point Apartments at 1111 E. Brown Road in Mesa for $24.7M. Continental Realty intends to invest an additional $1.3M in renovating the 107-unit multifamily community. At the time of sale, the property was 94.5% occupied.
2. Hudson Place, a 55.4KSF commercial property comprising 15 buildings at 2405 E. Southern Ave. in Tempe, officially sold in an $11.5M transaction. The undisclosed seller was represented by Marina Hammersmith and Tyrel Williams of M | T HealthcaRE Partners at Medical Office Brokers.
3. A 31.1KSF manufacturing space at 234 E. Mohave St. in Phoenix was recently sold for $5M. The property covers 3.9 acres. Rein & Grossoehme’s Max Schumacher, Patrick Sheehan and Jack Hansen represented the undisclosed buyer, and the company represents the property for leasing opportunities.
4. Marcus & Millichap announced Pure Heart Church recently purchased a 41.25-acre parcel at the SEC of North 163rd Avenue and West Dynamite Blvd. in Surprise for $4.6M. Pure Heart Church intends to develop a multi-phase church campus on the property. M&M’s Art Rullo and Michael Farrar had the exclusive listing to market the property for the undisclosed seller. Pure Heart Church was procured by Avison Young’s Mark Seale and Kevin Helland.
5. Marlee Speedway Chuy’s, LLC recently sold the newly constructed Starbucks site at 3100 E. Speedway in Tucson for $3.8M. The 1.7KSF building sits on a 42.8KSF pad. Patrick Wade, Alex Kozakov and Jack Webber of CBRE represented buyer SDLP Holdings, LLC. Echo West Capital Advisors’ Ryan Moroney and Tim Westfall represented the seller. Cushman & Wakefield | PICOR’s Greg Furrier represented Starbucks in the lease.
6. TMC Holdings Inc. purchased 2.4 acres of land at Pavilions Lots 9 & 10, 10330 E. Drexel Road in Tucson, from Houghton Drexel, LLC for $3.4M. Richard M. Kleiner and Alexis Corona with Cushman & Wakefield | PICOR represented the buyer. Chad Kouts with Jump Ventures. Inc. and Cameron Warren with Phoenix Commercial Advisors represented the seller.
7. SAFME HOLDINGS LLC purchased 10KSF of office space at 1575 E. River Road in Tucson from Rabb Investments LLC for $2.3M. Richard M. Kleiner and Alexis Corona with Cushman & Wakefield | PICOR represented the seller. Kyle Kilgore with NAI Horizon represented the buyer.
8. 8789 N. 75th Ave. in Peoria recently sold for $2.1M. The 2-acre contractor facility with a 3.5KSF office has two points of ingress/egress and frontage along 75th Avenue. Rein & Grossoehme’s Max Schumacher, Patrick Sheehan and Jack Hansen represented both parties.
Lease Transactions
9. MSE Supplies, LLC expanded its Tucson plant to 16.1KSF of industrial space at Bay Colony Technology Center, 2705 E. Medina Road, Suite 151-171. Cushman & Wakefield | PICOR’s Stephen D. Cohen and Alex Demeroutis represented the landlord, 2705 Medina Properties, LLC.