Sales Transactions
1. Institutional Property Advisors, a division of Marcus & Millichap, arranged the $66.1M sale of Scottsdale on Main, a 119-unit luxury multifamily property in Scottsdale. The seller was Baron Properties, and the buyer was Goodman Real Estate.
2. Thomas Title & Escrow announced closing of the $10.5M sale of The Marabrisa Condominiums at 234 N. 75th St. in Mesa. A private capital buyer acquired the property from multiple entities. The transaction was supported by a loan of $7.785M through NorthMarq, with legal representation provided by Kingsley Law Firm, LLC for the buyer and Troutman Pepper for the lender. The CBRE Phoenix multifamily team, led by Brian Tranetzki and Anton Laakso, represented both the buyer and the sellers.
3. Affiliates of Comfort Communities sold two manufactured housing communities in Tucson to affiliates of Invesco Real Estate for $9.4M. Catalina Vista Mobile Home Park at 3344 E Kleindale Road, the first of the two properties, contains 82 spaces. It sold for $6.5M. The second property, Five Star Mobile Home Park, contains 43 spaces. It sold for $2.9M.
4. ABI Multifamily brokered the sale of Equinox on 5th Apartments, a 64-unit multifamily community at 3701-3745 E. 5th St. in Tucson, for $8.1M. The buyer and seller are based in California.
5. JLL Capital Markets announced the sale of Parkway Apartments, a 36-unit multifamily community at 5407 W. Glenrosa Ave. in Phoenix, for $4.5M. The seller was a partnership between Dorn Properties and Far Western Properties. The buyer was Parkway Apartments LLC. JLL represented the seller and procured the buyer. JLL’s Investment Sales and Advisory team representing the seller was led by Brian Smuckler and Derek Smigiel.
6. J and J Glenn East SFR LLC and J and J Glenn East LLC purchased Glenn East, a 47-unit apartment complex located at 2333 E. Glenn St. & 2315 Glenn St. in Tucson. The 30.8KSF complex was purchased from LO PLA, LLC and Glenn East, LLC for $4.4M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR handled the transaction.
7. Stos Partners acquired a 20.9KSF infill industrial warehouse at 1746-1748 W. Fillmore St. in Phoenix for $2.9M in an off-market deal. The firm plans a capital improvements program to modernize the property. Colliers represented the buyer. Cushman & Wakefield represented the seller.
8. Winterhaven3232 LLC purchased The Winterhaven Apartments, a 24-unit apartment complex located at 3232 N. Tucson Blvd. in Tucson. The 19KSF complex was purchased from Ando LLC for $2.8M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both parties.
9. Speedway Crossing LLC sold its vacant Walgreens building at 9495 E. Speedway Blvd. in Tucson. Ace Hardware Stores, Inc. purchased the 15.4KSF property for $2.7M.
10. Harvard Investments sold the final residential parcel in the Verde Trails master-planned community in Avondale to Clayton Properties Group Inc., dba Oakwood Homes. The 110-lot site at 107th Avenue and Broadway Road marks the completion of land sales in the community.
11. A joint venture between ViaWest Group and Barings purchased Deer Valley Innovation Park, a 43.5-acre site at 2402 W. Beardsley Road in Phoenix. CBRE represented both the buyer and seller. The partners plan to replace the property’s existing 345KSF building with ReDiscover Logistics Park, a four-building, 808KSF Class A industrial development scheduled for completion in February 2027.
12. Realterm acquired a 48KSF industrial facility on five acres at 4475 N. 43rd Ave. in Phoenix. The property is fully leased and includes warehouse, office and vehicle maintenance space.