Sales Transactions
1. Waymo purchased the Waymo Proving Ground, a 5,500-acre autonomous vehicle testing facility in Wittmann, for $220M. The seller, Apple Inc., acquired the property for $125M in 2021. The proving ground includes a 115-acre city course, a 35-acre vehicle dynamics area, a four-mile oval track and a freeway course purpose-built for autonomous vehicle testing. The facility was previously used by Fiat Chrysler.
2. Stonepeak recently purchased Acoya Shea from an entity connected to Harrison Street Asset Management and Cogir Senior Living for $109M. The 147-unit senior multifamily community is located at 7373 E. Shea Blvd. in Scottsdale.
3. CBRE negotiated the sale of Residences Kierland, a 290-unit luxury multifamily community in north Scottsdale. CBRE’s Asher Gunter, Matt Pesch and Austin Groen represented the seller, Quarterra. Bruce Francis, Doug Birrell, Bob Ybarra, Shaun Moothart and Nick Santangelo with CBRE’s Debt & Structured Finance practice, facilitated debt financing for the buyer, MacNaughton. Nationwide issued a $90M, five-year acquisition loan for the transaction
4. DWS Group purchased Alta Rise, a 278-unit multifamily community at 80 N. McQueen Road in Gilbert, from Wood Partners for $81.6M. The four-story property features a fourth-floor lounge and sky deck, as well as a bodega, speakeasy, pickleball court, pool and spa, multipurpose field, lawn and fire pit. Steve GebingandCliff David of Institutional Property Advisors represented Wood Partners and procured the buyer. No financing details were provided.
5. RX Health & Science Trust, in partnership with Shore Capital Partners, purchased Stapley Medical Center, a 181.9KSF medical office property at 1840 and 1910 S. Stapley Dr. in Mesa, for $48M. The seller was an entity affiliated with Cypress Office Properties. First Citizens Bank provided a $40.1M loan. The property is currently 63% leased and is located north of the NWC of Stapley Drive and Baseline Road. Transwestern’s Phoenix Healthcare Advisory Services team will provide leasing services.
6. Reyes Beverage Company purchased a distribution facility at 402 S. 54th Pl. in Phoenix from Republic National Distribution Company for $42.6M. The acquisition closed June 2 as part of Reyes’ purchase of RNDC assets across 11 markets, including Arizona.
7. ABI Properties Inc. purchased the 54.9KSF, six-building Roosevelt Commons shopping center in Buckeye for $35.21M. SimonCRE sold the asset, which is located at the SWC of Verrado Way and Roosevelt Street. The property was 100% leased at the time of sale.
8. Pardi Properties Broadway Boulevard, LLC purchased a two-tenant, triple-net-leased retail property anchored by Cost Plus World Market and D-BATs at 5975 E. Broadway Blvd. in Tucson for $6.4M. The 36.8KSF freestanding building sits on approximately 4.3 acres. Nick Miner of ORION Investment Real Estate represented the seller, AC Tucson Retail, LLC. Rich Butler of Marcus & Millichap represented the buyer.
9. EAW-451, LLC purchased a 19.4KSF industrial building at 451 N. Bonita Ave. in Tucson from Brickyard Investments Limited Partnership, LLLP for $2.79M. Natalie Furrier and Greg Furrier with Cushman & Wakefield | PICOR represented the seller. Pat Welchert with Alpha Commercial Real Estate Services represented the buyer.