Sales Transactions
1: Western Wealth Capital has purchased the 880-unit apartment portfolio Tucson V in Tucson from Weidner Apartment Homes for $130M. The portfolio consists of Las Brisas (248 units), Aventura (239 units), Alegria (161 units), The Enclave (120 units) and Vista Montana (112 units). The sale was brokered by Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, representing the seller and procuring the buyer.
2: JLL Capital Markets announced it has closed the $86.5M sale of The Alexander & The Johnathan, a pair of Class A office assets totaling 219.6KSF feet in Chandler. JLL represented the seller, George Oliver, and procured the buyer, Asana Partners.
3: Sundance Bay has purchased the 304-unit Regency Square apartment development in Yuma from a private partnership for $41.5M. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer.
4: With a down payment of $15M, Project K LLC (KORE Power) has commenced the nearly $29M purchase of the 214-acre site for its 1MSF battery manufacturing plant in Buckeye from previous owner Mangat Group.
5: The 69.8KSF, 9.26-acre Shops at Dynamite Creek neighborhood retail center in Cave Creek has sold for $21.95M. The buyer was Shops at Dynamite Creek LLC. The seller, David Malin/Scottsdale Development Partners, was represented by John Schweikert and Chad Tiedeman with Phoenix Commercial Advisors.
6: In two separate transactions, Larsen Baker has acquired a 15KSF retail building at 3232 E. Speedway Blvd. for $4M and the nearby 80KSF Rancho Center Shopping Center for $10.1M. Larsen Baker’s Isaac Figueroa represented the company. The VOLK Company’s Debbie Heslop represented seller SMDSK Encanto LLC.
7: NewcrestImage has purchased six motel and three extended-stay properties in Arizona from G6 Hospitality (Motel 6 Operations, LP) in an $8M portfolio acquisition. The six Motel 6 properties are: Mesa North (152 rooms), Phoenix West (148 rooms), Phoenix Tempe (131 rooms), Scottsdale South (100 rooms), Mesa South (91 rooms) and Phoenix Airport (61 rooms). The three Studio 6 extended-stay properties are: Tempe (151 rooms), Phoenix Deer Valley (142 rooms) and Tucson East (121 rooms).
8: Commercial Properties, Inc./CORFAC International announced the s$4.08M sale of a 25KSF industrial manufacturing building on 1.93 acres in the SouthPark Business Center in Chandler. CPI’s Jeff Hays, Sr. represented the owners, Paul & Marilyn Teagle Family Trust, as well as the buyer, 5970 Marion Drive, LLC.
9: Marcus & Millichap’s Zack House, Mark Ruble and Chris Lind represented the buyer in the $4.07M purchase of a 5KSF Sun Devil Auto location in Gilbert.
10: McKemy II, a 12-unit apartment community in Tempe, has sold for $3.23M. Marcus & Millichap’s Paul Bay and Darrell Moffitt represented the seller and procured the buyer, both of which are private investors.
11: ABI Multifamily announced the $3.025M sale of One West Madison, a land deal located at 1 W. Madison St., Phoenix. ABI‘s John Klocek and Patrick Burch represented the seller.
12: ABI Multifamily announced the $2.05M sale of Coronado Square, a 10-unit apartment community at 1808 N. 31st St., Phoenix. The buyer & seller were represented by ABI’s Carson Griesemer, Dallin Hammond and Mitchell Drake.
Lease Transactions
13: Ralph’s Transfer Inc. leased 30KSF of industrial space at 6760 S. Lisa Frank Ave. in Tucson, from Greenbean Investments LLC. Robert C. Glaser and Paul Hooker with Cushman & Wakefield | PICOR represented the landlord. Mark Irvin with Mark Irvin Commercial Real Estate Services, LLC, represented the tenant.
14: Arizona Theatre Company leased 22.6KSF of industrial space from 6363 S Country Club, LLC for a production shop, costume storage and administrative offices. Paul Hooker represented the landlord, while Robert C. Glaser represented the tenant. Both are with Cushman & Wakefield |PICOR.
15: Movement Mortgage has signed a 13.4KSF lease at Chandler Center Commons in Chandler. The tenant was represented by CBRE’s Jamie Swirtz.
16: Thomas Bean and Matt Harper of NAI Horizon represented the tenant, Tracey S. Thomas, in a 39-month industrial lease for 13.3KSF at 7030 W. Oakland St., Chandler. The landlord, 7030 W. Oakland, LLC, was represented by Kyle Seeger with JLL
17: Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the landlord, Queen Creek Fiesta, LLC and JW Duke Enterprises, LLC, in a 120-month retail lease for 12.5K SF at 44460 W. Edison Rd., Maricopa. The tenant, Petco Animal Supplies Stores, Inc., was represented by Mark Holinger with Frontera Development, Inc.
18: Restaurant Three Thirty Three has signed a lease for 11.3KSF ground floor restaurant space plus patio and rooftop deck space at mixed-use development Watermark Tempe. Cushman & Wakefield’s Brent Mallonee sourced the tenant.