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    AZBEX
    Home » Commercial Real Estate » Commercial Real Estate 08-27-24
    Commercial Real Estate

    Commercial Real Estate 08-27-24

    BEX StaffBy BEX StaffAugust 27, 2024No Comments2 Mins Read
    1. Sanctuary. Credit: Phoenix Business Journal
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    Sale Transactions

    1. The Carlyle Group Inc. sold the 217-unit Sanctuary on 51st Build-to-Rent community in Laveen for $61.4M. The buyer was Brunton Management. The seller was represented by Berkadia Phoenix’s Mark Forrester, Ric Holway, Dan Cheyne, Spencer Scott and Andrew Curtis.

    2. IRA Capital Partners has paid $46.6M for Belmont Village Scottsdale, a 138-unit, 95.3KSF senior care facility on North Frank Lloyd Wright Blvd. in Scottsdale.

    3. Sorrento Seven purchased a fully occupied 34.1KSF industrial building at 2228 W. Guadalupe Roadin Gilbert for $10.9M. The facility is occupied by Moog Aerospace and Defense Company. The property was purchased from Simone Charitable Foundation with Brian Ackerman of Colliers handling the sale.

    4. Cushman & Wakefield announced the firm has advised the sale of Parc Germann, a recently constructed industrial project on East Germann Road in Chandler. The asset comprises two buildings totaling 224.5KSF and was 100% leased at the time of the sale. Libitzky Property Companies acquired Parc Germann for an undisclosed amount. Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of the firm’s National Industrial Advisory Group – Mountain West team represented the seller.

    5. Net Lease Office Properties has sold a single-tenant data center and office campus on Shea Blvd. in Scottsdale. The 354.9KSF property is used by CVS as a data and operations center. The seller was represented by Peter Bauman and Tivon Moffitt of Institutional Property Advisors. Terms of the transaction were not disclosed.

    6. Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living have purchased MorningStar at Arcadia, a senior housing property at 3200 E. Glenrosa Ave., Phoenix. The buyers plan to improve the properties’ amenity spaces, units and landscaping. Aron Will and Michael Cregan of CBRE National Senior Housing arranged the financing. The seller and transaction details were not disclosed.

    Lease Transactions

    7. Willow Rebloom has leased the entire 11,259SF of space at Medical Collaborative at Pima Center in Scottsdale. Cypress West is the landlord. Both parties were represented by Menlo Group Commercial Real Estate. The firm’s Rich Andrus and Stuart Milne represented the landlord, while Milne also represented the tenant.

    8. Spirit Halloween Superstores, LLC leased 33.6KSF of retail space at Oracle Plaza, 6310 N. Oracle Road in Tucson, from Oracle Plaza, LLC. Natalie Furrier and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord.

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