Sales Transactions
1. Panattoni Development Company Inc. purchased a 25-acre office property at 2750 S. Priest Dr. in Tempe for $37.5M from JDM Partners. Newmark’s Erin McClure, Chris Marchildon, Gary Cornish and Nico Burgarello represented the seller, while Panattoni represented itself. JLL’s Steve Larsen and Jason Moore will handle leasing. Panattoni plans to demolish the existing buildings and redevelop the site into two one-story industrial buildings: 354.8KSF of warehouse, industrial and manufacturing space, 88.7KSF of office space and 373 parking spaces. Wespac Construction is the general contractor and Ware Malcomb is the architect for the redevelopment.
2. Transdien Engineering Co. acquired a 97.4KSF office park at 19825 N. 7th St. in north Phoenix for $19.46M. The seller was 101 & 7th Street Partners LLC, which traces to 777 Properties LLC and SCBC Investments LLC.
3. Creation Equity acquired a 38-acre site at the NEC of Corporate Drive and 117th Avenue in Avondale for $18M from Z-Modular. Jake McClaughry and Brian Gausden of Western Retail Advisors represented both the buyer and seller. The site will be developed into Avondale Tech Center, a 699.7KSF industrial project comprising three buildings totaling 254.3KSF, 233.2KSF and 212.2KSF. LGE Design Build will serve as both architect and general contractor. Construction is slated to begin in the summer.
4. ViaWest acquired a 53-acre site near Prologis 303 in Goodyear for $11M from NBA Enterprises Limited Partnership and Hohokam Acres Limited Partnership. Wesley Campbell of Land Advisors Organization represented the buyer. The site was previously rezoned for an industrial park planned by Prologis. Pat Feeney, Dan Calihan and Tyler Vowels of CBRE will handle leasing and build-to-suit inquiries.
5. PCA Properties LLC purchased 31KSF of industrial space at 5575 S. Houghton Road in Tucson from L & M Family Ventures, LLC for $4.25M. Stephen D. Cohen with Cushman & Wakefield | PICOR represented the seller. Greg White with SRS Real Estate Partners-West, LLC represented the buyer.
6. Larsen Baker’s affiliate Tucson Sam Hughes, LLC purchased a 50KSF office property in Tucson for $3.3M. The office property, which is located at 100-150 N. Tucson Blvd., will be renamed 100 North. The buyer was represented by Tango Commercial’s Bob Davis and Larsen Baker’s Isaac Figueroa. Figueroa will also handle leasing. Cushman & Wakefield | PICOR’s Rick Kleiner and Alexis Corona represented the seller.
7. Southwest Autism Research & Resource Center purchased a 10.6KSF office building at 3100 N. Campbell Ave. in Tucson for $2M from Siempre Juntos LLC. Richard M. Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller. The campus will offer preschool programming, in-home and community-based therapy services and autism research initiatives. It is expected to open in 2027.
Lease Transactions
8. Biagi Bros. Inc. leased 168.5KSF of industrial space at Virgin Industrial Park I, 15748 W. Hatcher Road in Glendale from IndiCap. The Class A industrial project is part of a planned four-building, 1.5MSF development. Riley Gilbert and Kelly Royle of JLL represented IndiCap, while Marc Hertzberg of JLL represented Biagi Bros. The transaction was led by Kristina Lewison of Invesco and Jason Kuckler of IndiCap.