Sales Transactions
1. Cushman & Wakefield announced the $60.1M sale of a 642KSF industrial building in Buckeye. EQT Exeter was the buyer. BET Investments was the seller. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield represented both the seller and buyer. Andy Markham and Mike Haenel of Cushman & Wakefield served as the projects leasing team.
2. Christopher Todd Capital purchased Cottages at McDowell, a 217-unit Build-to-Rent community in Avondale, for $57M. The community offers one- and two-bedroom homes. WS Avondale 1, LLC was the seller.
3. Salt River Project Agricultural Improvement and Power District has paid $46.3M to Leon Capital Group for 97 acres near Dobbins Road and Loop 202 in Phoenix’s Laveen Village. Larry Kush of ORION Investment Real Estate represented the seller. SRP was represented by CBRE Group Inc.
4. Cushman & Wakefield advised the $21.85M sale of the fully leased Pinnacle Peak Commerce Center, a 93.7KSF industrial building in Phoenix’s Deer Valley submarket. Top 10 Properties was the buyer. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield, in partnership with Tracy Cartledge and Robert Buckley, brokered the sale for both buyer and seller. Trevor McKendry and Chris Rodgers of DAUM Commercial provided leasing advisory. The seller was not disclosed.
5. Commercial Properties Inc. announced the $6.7M sale of 1648 S. 51st Ave., a 14.4KSF industrial storage building in Phoenix. Jeff Hays and Sam Rutledge of CPI represented both the buyer and the seller. Brasa Capital Management, Wagonhound Land and Livestock Co. and ATLAS were the sellers. Innovative Land and Development LLC was the buyer.
6. Western Retail Advisors brokered the $5.5M sale of Avenue at Olive Park, a retail center in Glendale. Darrell Deshaw of WRA represented the seller, who was not disclosed. Gabe Manzanares of Compass Commercial represented buyer 2015 K&A Kisidiaris Trust. The center is fully leased.
Lease Transactions
7. LPL Financial has subleased a 43KSF full floor of Carvana Co.’s former Tempe office in the Marina Heights office campus at Tempe Town Lake. LPL expects to take occupancy in September.