Sale Transactions
1. CBRE negotiated the $79M sale of Alta North Central, a 229-unit multifamily community in Phoenix. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller, an undisclosed institutional fund manager. Troy Tegeler and CJ Connolly of CBRE Debt & Structured Finance Team arranged financing for the buyer, Christiansen Ventures LLC.
2. Green Bay Packaging, Inc. has paid $16.5M for an 80-acre site near the SWC of Maricopa-Casa Grande Highway and Ethington Road in Casa Grande. Seller Auza Ranches LLC was represented by Land Advisors Organization. Green Bay Packaging has not yet announced its development plans for the site.
3. Phoenix Commercial Advisors facilitated the $5.84M sale of Cave Creek Crossing Shops, in Cave Creek. The 10.2KSF retail center is anchored by Sprouts Farmers Market and is 100% leased.
4. Twin Palms MHC and Twin Palms Homes LLC have paid $5M for a pair of land-leased, all-age mobile home communities in Tucson. The 30-space 1901 W. Alsis Lane community sold for $1.5M, and the 63-space Twin Palms community sold for $3.5M.
5. 3137 E. Elwood St., a 123KSF industrial/flex building in Phoenix’s Southbank Business Park, has sold for an undisclosed price. The seller was an undisclosed global investment advisor represented by Newmark’s Barry Gabel, Chris Marchildon, CJ Osbrink and Gary Cornish.
Lease Transactions
6. Indicap announced the leasing of 42KSF in Eastmark Center, a 978.8KSF industrial campus in Mesa. Steven Larsen, Pat Harlan and Jason Moore of JLL represented Eastmark in the lease. Paul Sieczkowski, Justin Sieczkowski and Amy Chadick of Colliers represented the tenant, Rexel USA.