Sales Transactions
1. TerraCap Management LLC purchased Tresa at Arrowhead Apartments, a 360-unit multifamily community at 17722 N. 79th Ave. in Glendale. Built in 1998, the community consists of 53 residential buildings on 19 acres. Hamilton Zanze & Company sold the property for $82.2M. CBRE’s Matt Pesch and Asher Gunter, along with Austin Groen, represented the seller. CBRE Capital Markets originated a $53.4M Fannie Mae loan for the buyer.
2. GR Partners Casa Adobes LLC sold the 18-building Casas Adobes Apartmentsat 6200 N. Oracle Road in Tucson for $28.75M. The 204-unit apartment complex was purchased by WNC/WP Oracle LLC. Newmark’s Brett Polachek was the listing broker.
3. SSP Investments Inc. acquired a 42.1KSF medical office building at 8921 W. Thomas Road in Phoenix for $17M as part of a $26.2M 1031 exchange transaction. The building is fully leased to SimonMed Imaging and sits across from Banner Estrella Medical Center. CBRE’s Nick Whitstone and Andrew Trillo represented the buyer.
4. An industrial property at 1702 S. 19th Ave. in Phoenix sold for $2.2M. The site includes a 6.7KSF shop building, a 1.2KSF office and a 1.6KSF canopy structure on roughly an acre. Max Schumacher, Patrick Sheehan and Jack Hansen of Rein & Grossoehme Commercial Real Estate represented the seller.
5. Southwest Autism Research & Resource Center purchased a 10.6KSF office building at 3100 N. Campbell Ave. in Tucson from Siempre Juntos, LLC for $2.1M. Richard M. Kleiner and Alexis Corona with Cushman & Wakefield | PICOR represented the seller.
Lease Transactions
6. Arizona Autism Charter Schools is leasing a 31.4KSF school at 4507 S. Mountain Road in Mesa. The school is part of a 6.5-acre campus that Arizona Autism is leasing from American Leadership Academy for three years. The charter school intends to purchase the property in four years.