Sales Transactions
1. Blackstone Inc. paid $87M for a nearly 537KSF portfolio of five warehouses across four sales in Phoenix. Kohlberg Kravis Roberts & Co. Inc. was the seller. Will Strong, Kirk Kuller, Molly Hunt, Dean Wiley and Michael Matchett of Cushman & Wakefield represented both parties. The properties are:
- 5302 – 5240 W. Buckeye Road: two buildings, 219,240SF, $35.2M;
- 4720 W. Van Buren: 135, 438SF, $18.2M;
- 4441 W. Polk St.: 92,575SF, $16.77M, and
- 120 E. Watkins St.: 90KSF, $16.77M.
2. Aura Central, a 251-unit apartment complex on North Central Avenue in Phoenix, sold for $70M. An entity tracing to Trigate Capital was the buyer. An entity tracing to Trinsic Residential Group was the seller.
3. P.B. Bell sold Hanger, a 266-unit apartment community in Glendale, for $69M. Decron Properties was the buyer.
4. Hacienda Del Rio, a 146-unit senior housing development in Phoenix, sold for $33.1M. Rainbow Housing Assistance was the buyer. Related Cos. was the seller.
5. Maison Solutions Inc. acquired Lee Lee Oriental Supermarket, Inc. for $22.2M. The portfolio consists of three stores, each approximately 51KSF, in Tucson, Peoria and Chandler. AZLL, LLC was the seller.
6. A joint venture between Cypress West and TPG Angelo Gordon purchased 9377 E. Bell Road, an 85KSF medical office in Scottsdale, for $21.25M. Josh Baumgarten and Adam Schwartz of CBRE Investment Banking represented the buyer.
7. David Fogler and Steven Nicoluzakis of Cushman & Wakefield advised the $14.75M sale of Arcadia Gardens, a 76-unit apartment community in Phoenix. CSLC Housing Acquisitions was the buyer. Rincon Partners was the buyer.
8. Silver Streaks Ranches purchased the EoS Fitness building, a 42KSF fitness center in Peoria, for $14M. Barclay Group was the seller.
9. Golden Parachute Properties, LLC purchased 11.2KSF of medical space at 6452 E. Carondelet Dr. in Tucson from AM Properties, LLC for $3.25M. Richard M. Kleiner and Alexis Corona with Cushman & Wakefield | PICOR represented the seller. Matt Bollinger and John Allen Smith with Smith & Bollinger-Long Realty Company represented the buyer.
10. A 2KSF Black Rock Coffee Bar at 7505 E. Broadway Blvd. in Tucson sold for $2.55M. The business is absolutely net leased and corporate guaranteed. Jeramy Price of VOLK Company managed the sale. The tenant is Black Rock Store Operations, LLC. The buyer was not disclosed.
11. Arcadia Real Estate Holdings, LLC purchased 6.5KSF of retail space at 4832 E. Speedway Blvd. in Tucson from Fangs and Claws LLC for $2.24M. Bryce Horner with Cushman & Wakefield | PICOR represented the seller.
12. ALDI purchased 2.05 acres of land at Tucson Marketplace for $2.2M to construct a 20.9KSF ALDI Supermarket. BP Bridge Partners, an affiliate of Bourn Properties, was the seller, represented by Alan Tanner with Bourn Advisory Services.
Lease Transactions
13. JLL Capital Markets announced the lease of 40.4KSF at El Dorado Tech Center within ViaWest Group’s six-building industrial portfolio in Gilbert. Steve Larsen and Jason Moore of JLL represented ViaWest in the lease negation. PipShip is the new tenant.
14.AZ HT Restoration LLC (dba Servpro) leased 33.6KSF of industrial space at 6221 S. Palo Verde Road in Tucson from 6221 & 6223 S. Palo Verde Tucson, LLC. Cushman & Wakefield | PICOR handled this transaction, with Stephen D. Cohen representing the landlord and Paul Hooker and Jesse Blum representing the tenant.
15. GoDaddy Inc. has leased 31KSF at 100 Mill that was previously occupied by Moov Technologies in Tempe. Ryan Timpani of JLL and Chuck Nizon of CBRE Group Inc. represented the tenant.
16. Perkins Coie LLP has leased nearly 30KSF at Esplanade II, a 87KSF office building at Camelback Corridor in Phoenix. Perkins will occupy the fifth floor and part of fourth floor.
17. Lucid Private Offices has leased 25.2KSF at Max at Kierland, a six-story office building in Scottsdale. Lucid expects to open in November.