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    AZBEX
    Home » Commercial Real Estate » Commercial Real Estate News 02-08-22
    Commercial Real Estate

    Commercial Real Estate News 02-08-22

    BEX StaffBy BEX StaffFebruary 8, 2022No Comments3 Mins Read
    11. Palmilla. Credit: ABI Multifamily
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    Sales Transactions

    1. Wentworth Healthcare Properties recently purchased a four-building, 180KSF medical office portfolio, including three in Arizona, for $56M from Centum Health Properties. The Arizona locations were Princess Medical Center (79.6KSF), Anthem Medical Plaza (49.8KSF) and Sun Lakes Medical Center (39.2KSF). Centum was represented by CBRE.

    2. Tri-Pointe Homes, Inc. has closed on 137-acre for $45.2M to build the 468-home Waterson Central phase of its 480-acre, 1,284-home Waterson master-planned community in Gilbert.

    3. Commercial real estate firm Lincoln Property Co. has closed on two buildings at AZ 202 Commerce Park in Chandler for $32.5M. The newly acquired project totals 7.74 acres and 140.4KSF in two fully leased buildings – a 65.9KSF Building A and a 74.5KSF Building B. The property seller, Via West, was represented by Will Strong, Mike Haenel, Andy Markham, Phil Haenel and Greer Oliver of Cushman and Wakefield.

    4. ABI Multifamily announced the $32M sale of Haven at South Mountain Apartments, a 117-unit community in Phoenix. ABI’s Institutional Apartment Group – Alon Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick represented sellers Intrust Property Group and Sunrise Multifamily as well as the undisclosed buyer.

    5. Meritage Homes Corporation has purchased 300 acres/1,111 lots in Maricopa for $30.8M. In a deal that closed simultaneously, Meritage sold 415 lots to TerraWest Communities LLC for an undisclosed price. The deal was brokered by Nate Nathan and Joe Colucci of Nathan & Associates.

    6. Cushman & Wakefield announced the firm has brokered the sale of Tucson Fiesta, a 93KSF shopping center with three retail anchor buildings in Tucson. Alturas Real Estate Funds acquired the property for $14.6M from EVT Tucson Fiesta, LLC. Cushman & Wakefield’s Chris Hollenbeck represented the buyer.

    7. Mohr Capital has bought nearly 50 acres in Surprise through its subsidiary Mohr Surprise LLC. The company paid $14.6M for the property near Dysart and Cactus roads. The seller was Capital VIII LLC.

    8. Desert Truss has paid $8.1M for approximately 41 acres near Dysart Road and Peoria Avenue in El Mirage. The seller was Jacob Long.

    9. ABI Multifamily announced the $7M sale of Bella Villas Apartments, a 21-unit multifamily community in Scottsdale. ABI’s Royce Munroe represented the buyer and seller, both of which are based in Arizona.

    10. SimonCRE has paid $6M to RED Development for 27 acres that will be used as part of SimonCRE’s Village at Prasada retail center in Surprise.

    11. ABI Multifamily announced the $3.525M sale of the 24-unit Palmilla Apartments in Phoenix. The buyer was represented by ABI’s Dallin Hammond, Mitchell Drake and Carson Griesemer. ABI’s Royce Munroe represented the seller in this transaction.

    12. The 24-unit Euclid / Lee Apartments in Tucson has sold for $2.25M. Tom DeSollar of EMS Arizona First Properties represented the seller.

    Lease Transactions

    13. Solar Industries, Inc. leased 30KSF of industrial space at Britannia Business Center in Tucson from Britannia Tucson, LLC. Jesse Blum with Cushman & Wakefield | PICOR represented the landlord. Stephen D. Cohen, also with Cushman & Wakefield | PICOR, represented the tenant.

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