Sales Transactions
1. The 330-unit Tucson apartment community The Peak at Oro Valley was recently sold in a $59.8M transaction orchestrated by Clint Wadlund and Hamid Panahi with Institutional Property Advisors, a division of Marcus & Millichap. The parties were not disclosed.
2. CapRock Partners has paid $45.5M for Chandler Airport Business Center, a four-building, 318.7KSF industrial park in Chandler. The seller was Chamberlain Development, LLC, an entity of Sun State Builders, which also served as general contractor. The sale was brokered by Stein Koss, Tom Lauer and Fenton Kelly of Lee & Associates Arizona, who also serve as the site’s listing brokers.
3. Bradford Allen Hospitality Investments purchased Aloft Glendale at Westgate, a 100-room hotel in Glendale, for $23.75M. Bill Murney with Cushman & Wakefield represented the seller, HCW Hospitality & Development.
4. LNR Partners sold the $12.5M Sun Village Fair, a 20.46-acre site in Chandler. Darren Tappen, Nathan Thinnes, Pete Beauchamp, Trask Switzenberg and Mathew Ault of Kidder Mathews, in coordination with Trevor Koskovich of Northmarq and Brett Rinehart of Land Advisors, represented the seller. Arizona Partners was the buyer.
Lease Transactions
5. Norwegian Cruise Line leased a 21KSF office space at 1445 S. Spectrum Blvd. in Chandler. Larry Downey with Cushman & Wakefield represented Norwegian.
6. Isy Sonabend and Drew Eisen of NAI Horizon represented the tenant, AERZEN Rental USA, LLC, in a 60-month industrial lease for 15KSF at 2940 W. Osborn Road in Phoenix. The landlord, Harry Ross Industries, was represented by Pat Takash with PT Property Services.
7. Jeff Adams of NAI Horizon represented the tenant, Alpha Insulation & Water Proofing, Inc., in a 50-month industrial lease for 14.29KSF at 2810 S. Roosevelt St. in Tempe. The landlord, TMP I, LLC was represented by Matt Frederick & Matt McDougall with Lee & Associates.
8. Mark Wilcke and Larson Wilcke of NAI Horizon represented the tenant, GC Door & Trim, LLC, in a 60-month industrial lease for 13KSF at 2100 S. Douglas Drive in Chandler. The landlord, Hansen Commercial Investments, was represented by Aron Brow & Stephanie Lanman with Leading Edge Real Estate.
9. Daiso USA LLC leased 10KSF of retail space at Ventana Village Shopping Center, 6884 E. Sunrise Dr. Suite 150 in Tucson, from EREP Ventana II, LLC. Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. Steve Lenz with Frontera Development, LLC represented the tenant.