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    Home » Commercial Real Estate » Commercial Real Estate 08-20-24
    Commercial Real Estate

    Commercial Real Estate 08-20-24

    BEX StaffBy BEX StaffAugust 20, 2024No Comments3 Mins Read
    5. Sunrise on the Rail Apartments. Credit: ABI Multifamily
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    Sale Transactions

    1. Artis Real Estate Investment Trust sold six industrial properties in the Valley to Radnor. The deal was part of a larger, nine-property sale worth $197.4M, which consisted of 822.4KSF in Phoenix and 317.6KSF in Minnesota. EQT Exeter was the buyer.

    2. A 380KSF office property fully leased by CVS Health Corporation sold for $71.5M by Net Lease Office Properties in Scottsdale. Robert C. Samuel, of Robert C. Samuel Revocable Trust was the buyer.

    3. JLL Capital Markets announced the $51M sale of KV Buckeye 10, a 249.6KSF industrial complex in Buckeye. The complex is 60% leased. JLL’s Greer Oliver and Connor Nebeker-Hay represented the seller, Kentwood Ventures, and facilitated the sale to the buyer, MDH Partners, LLC. JLL’s John Lydon, Hagen Hyatt and Kelly Royle will continue to provide leasing services for the property under the new ownership.

    4. CBRE announced the $26M sale of Mesa Ranch Plaza, a 130KSF shopping center in Mesa. Alex Kozakov and Patrick Wade of CBRE represented the buyer, Mesa Ranch 24 LP, and the seller, SimonCRE.

    5. ABI Multifamily announced the $17.4M sale of Sunrise on the Rail Apartments, a 94-unit multifamily apartment community in Mesa. The seller was represented by ABI’s Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick. The parties were not disclosed.

    6. SRS Real Estate Partners Capital Markets arranged the $7.5M sale of two quick-service restaurants in White Hills—a 2,586SF Carl’s Jr. and a 2,304SF Del Taco. Matthew Mousavi, Patrick Luther and Winston Guest of SRS represented the seller, a multi-unit franchisee.

    7. Plowden/Martin Properties, LLC purchased a 23-unit Tucson-area multifamily portfolio from Wesley James Krajicek Family Revocable Trust. The portfolio—including Pima Apartments, 4238-4246 E. Pima St. and Lee Apartments, 4223-4245 E. Lee St. —sold for $2.15M. Allan Mendelsberg and C. Joey Martinez with Cushman & Wakefield | PICOR represented both parties.

    8. First National Realty Partners has acquired Fountain Hills Plaza, a 111.3KSF shopping center in Fountain Hills, for an undisclosed sum. The Basha’s-anchored shopping center is 90% occupied. Patrick Dempsey of JLL represented the seller, who was not disclosed.

    Lease Transactions

    9. RK Logistics Group secured a 79KSF warehouse lease at 7929 S. Hardy Dr. in Tempe. The company assumed the lease from Southwest Supply Chain Solutions.

    10. Caliber Collision leased the 27.8KSF former Big Lots space at 3959 N. Oracle Road in Tucson from Red Mountain Retail Group. Aaron LaPrise and Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. Spencer Gray with EXP Commercial represented the tenant.

    11. Rockless Manufacturing LLC leased 24.4KSF of industrial space at 4261 S. Country Club Dr., Suite 101 in Tucson from RRPC Inc. Jesse Blum with Cushman & Wakefield | PICOR represented the tenant. Max Fisher with BRD Realty, LLC represented the landlord.

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