Sales Transactions
1. Level at Sixteenth, a 240-unit multifamily development at 16th Street and Campbell Avenue, recently sold for $61.5M. The sale was announced by Institutional Property Advisors, a division of Marcus & Millichap. IPA’s Steve Gebing and Cliff David represented the seller, Sares Regis Multifamily Investment Management, and also procured the buyer.
2. Applied Materials Inc. has acquired GO|AZ Ave, a 181.7KSF industrial building in Chandler, from GO Industrial for $41.2M. The multitenant property includes a 3.2KSF office component and sits on a 10-acre site. CBRE represented the seller, and Cushman & Wakefield represented the buyer.
3. Cushman & Wakefield announced the firm advised Cohen Asset Management, Inc. in the sale of Riverside 43. The industrial building totals more than 250KSF on roughly 16 acres in central Phoenix at 2200 S. 43rd Ave. Karney Properties purchased the asset for $34.2M. C&W’s Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren represented the seller, an affiliate of Cohen Asset Management, Inc.
4. Kidder Mathews has brokered the sale of two farm properties in Coolidge for a combined $4.3M. A 160-acre site at Christensen Road and the SWC of Highway 287 sold to Contadino 2021 Irrevocable Trust for $3.3M, while a 33-acre parcel at Arizona Blvd. and the NEC of Highway 87 sold to Lone Butte Assets LLC for $1.1M. MLC Farms LLC sold both properties.