Sales Transactions
1. An entity connected with Alliance Residential sold Broadstone at Dobson Ranch, a 288-unit apartment complex in Mesa, for $85M. AZ Dobson Ranch Apartments, LLC was the buyer.
2. BKM Capital Partners acquired two separate properties in Tempe. The firm paid roughly $48M to Stockbridge Capital Group to acquire more than 250KSF of industrial buildings. Both transactions were in the Gateway Business Park.
3. ViaWest Group, represented by Cushman & Wakefield, has sold Blackhawk Corporate Center, a 252KSF three-building office/medical campus in the Deer Valley submarket. Big Sky Medical Real Estate was the buyer. Steve Lindley, Alexandra Loye, Eric Wichterman and Mike Coover with Cushman & Wakefield were the representatives. Local media reported the transaction price as $46M.
4. Beaudin Construction (as Gilbert Medical Holdings LLC) has paid $29M for a 71.4KSF VA outpatient clinic in Gilbert. The seller was David Springfield (as Gilbert Healthcare Special LLC).
5. Prairie Hill Holdings has paid $27.53M for Rillito Crossing Marketplace, a retail shopping center in Tucson. The seller was Epic Real Estate Partners. JLL’s Patrick Dempsey and Bryan Ley brokered the transaction.
6. Hinkson Co. has sold the 103.1KSF Laveen Commons retail center at 35th Avenue and Baseline Road for $20.5M. The buyer is a private investor.
7. The Ayers Family (as Mountain Park Partners LLC) has paid $14M for Mountain Park Plaza, a 90KSF-plus, Fry’s-anchored shopping center at Seventh Street and Baseline Road in Phoenix. The seller was Lincoln Property Company.
8. Kinze Manufacturing Inc. acquired 443 acres of agricultural land in Casa Grande for $4M. Kenneth Raycraft and Haydn Raycraft of Insight Land & Investments represented the buyer while Ben Heglie of Land Advisors Organization represented the seller. The site was purchased through the entity KZAZ LLC from Grandilla (Arizona) Inc. and Footcreek Corporation of Arizona.
Lease Transactions
9. Harbor Freight recently leased 17KSF of retail space at Mesa Pavilions North. Jared Lively of Rein & Grossoehme represented the landlord. David Jarand of Avison Young represented the tenant. Neither party was disclosed.