Sales Transactions
1. Courtesy RE of Tucson LLC acquired the approximately 113.3KSF Watson Chevrolet and Infiniti of Tucson dealership property at 625 W. Auto Mall Dr., Tucson, for $29.5M. Watson Chevrolet Inc. was the seller. Courtesy Automotive Group, represented by Pinnacle Mergers & Acquisitions’ Bill Scrivner, acquired the property as an owner-user and will operate the dealerships as Courtesy Chevrolet of Tucson and Courtesy Infiniti of Tucson.
2. RED Development purchased the approximately 28-acre Canyon Commerce Center site near Interstate 17 and Thunderbird Road in north Phoenix for $28.59M. The property, previously owned by Dimension Financial & Realty Investments, currently includes two vacant office buildings totaling more than 500KSF and is planned for an office-to-industrial conversion. Ray Cashen of Cashen Realty Advisors represented both the buyer and seller.
3. 5C AI recently acquired an industrial building at the NWC of McDowell Road and 27th Avenue in Phoenix for $22.75M from Hanson Capital Group. The company plans to turn the 113.4KSF warehouse into a data center.
4. Sierra Del Sol Assisted Living | Memory Care and Respite Care at 8151 E. Speedway Blvd. in Tucson was recently purchased by Ventas, Inc. The 135-unit assisted living facility was sold by an entity tracing to Kohlberg Kravis Roberts & Company.
5. Lincoln Property Company and PGIM acquired Surgery Center of Gilbert, a 13.96KSF, single-tenant ambulatory surgery center at 6003 E. Baseline Road in Mesa for $10.68M. The property sits on 1.77 acres and is occupied and operated by a partnership of Banner Health, Atlas and physician surgical partners under a long-term lease to Banner and its surgical partners.
6. Cavan Commercial sold Building 1 of Pecos 17, a 12.7KSF Industrial building at 7320 E. Pecos Road, in Mesa for $5.03M. David Bean, Cory Sposi, Kelli Jelinek and Cory Breinholt of Commercial Properties, Inc./CORFAC International represented both the buyer and seller.
7. Equilibrium Garden Park II LLC sold the 36-unit Casa Larga Apartments to Claxton Manor LLC. The apartment complex is located at 6590 E. Golf Links Road in Tucson and sold for $2.05M. Earl Kodrigue represented the buyer.
Lease Transactions
8. Modern Wealth recently signed a 24.5KSF lease at SkySong 5. The company will occupy the entire top floor of the building. Colliers’ Bryce Terveen represented the tenant.