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    Home » Commercial Real Estate » Commercial Real Estate News 02-27-24
    Commercial Real Estate

    Commercial Real Estate News 02-27-24

    BEX StaffBy BEX StaffFebruary 27, 2024No Comments3 Mins Read
    7. C|303. Credit: NAI Horizon
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    Sales Transactions

    1. Inland Real Estate Group purchased the $62M Onyx at Westgate, a 190-unit Build-to-Rent community in Glendale formerly known as The Bungalows at Westgate. Berkadia represented the seller, Cavan Cos.

    2. Cushman & Wakefield arranged the $38M sale of Koll Cotton Center, a portfolio of seven renovated light industrial buildings totaling 228.6KSF in Phoenix. The seller was TerraCap Management, LLC and the buyer was G.W. Williams Co. Kirk Kuller, Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield brokered the transaction.

    3. 2302 East Fort Lowell Owner, LLC purchased Wasko Modern Apartments, a 30.3KSF investment property at 2302 E. Fort Lowell Road in Tucson. The 38-unit apartment property was purchased from Wasko Modern, LLC for $6.07M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both parties. 

    4. ABI Multifamily brokered the $5M sale of Holly & 50th Street Portfolio. The portfolio included two properties: Holly Villas Apartments (22 units) and The 50th Street Apartments (eight units). Both are in Phoenix.

    5. Nick Miner with ORION Investment Real Estate represented the buyer, Fox Properties Surprise, LLC, in the $2.4M purchase of an 8KSF retail PAD within the 200KSF retail property The Boulevard at Surprise Pointe. Paul Blum of West USA represented the seller, Parkview Realty Investments, LLC.

    6. ABI Multifamily brokered the $2.08M sale of 614-616 N. 10th Avenue, an eight-unit multifamily apartment community in Phoenix. Dallin Hammond, Mitchell Drake, Carson Griesemer, Tom Palestina, Andrew Arambula and Bryce Neagle of ABI represented the seller. Neither seller nor buyer were disclosed.

    Lease Transactions

    7. Furniture manufacturer Steelcase has leased 211.4KSF at C|303, an industrial park under construction at 5101 N. Cotton Lane in Glendale. Steelcase will occupy part of Building A, which will have a total built area of 375.7KSF. C|303 is being developed by Merit Partners, First Industrial Realty Trust and Diamond Realty Investments. Steelcase was represented in the lease transaction by Isy Sonabend and Drew Eisen with NAI Horizon and Arie Salomon with NAI P-S-P in Seattle. Landlord First Industrial Trust c/o Merit Partners, LLC, was represented by Riley Gilbert with JLL.

    8. Fiji Water Company, LLC leased 10.6KSF of office space at Williams Centre, 5210 E. Williams Cir., Suite 400 in Tucson, from WCCP Rosemont, LLC, RPI Williams Circle, LLC, and PEA Williams Circle, LLC. Thomas J. Nieman with Cushman & Wakefield | PICOR represented the tenant. Philip Skillings with NAI Horizon, Tucson, represented the landlord. 

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