Sales Transactions
1. Institutional Property Advisors, a division of Marcus & Millichap, has announced the $145M sale of the 240-unit Liv North Scottsdale apartment community in Scottsdale. Seller Liv Communities was represented by IPA’s Steve Gebing and Cliff David.
2. Art and Clint Wadlund of Institutional Property Advisors, a division of Marcus & Millichap, represented seller HZ Properties in the $91.25M sale of a 28-property portfolio made up of 26 casitas in Tucson. Buyer Commerce Capital Partners was self-represented.
3. Knightvest Capital has purchased the 209-unit apartment community Lydian on North 3rd Street in Phoenix for $66M. Transwestern Development Company was the seller.
4. MDH Partners has purchased Kentwood 303, a 272KSF industrialfacility in Phoenix from KICM LP and Kentwood Glendale LLC for $42M.
5. Specialty retail plaza The Shops at Civic Center in Gilbert sold for $10.4M. Both the buyer and seller are private investors. Mindy Korth and John Jackson of Colliers in Arizona, in association with El Warner and Cailtlin Zirpolo of Colliers National Retail Services Team in Irvine, Calif. marketed the property. The buyer was represented by Ross Sanzari, Greg Guglielmino, Steve Gonzalez and Marcus Muirhead of Lee & Associates.
6. Berkadia has announced the $9.55M sale of approximately 20 acres of land at Southwest Tomahawk Road and Broadway Avenue in Apache Junction. Mark Forrester and Director Andrew Curtis of Berkadia Phoenix managed the transaction. The developer who purchased the site plans 201 Build-to-Rent units.
7. Jared Lively of Rein & Grossoehme represented Southwestern Investments, LLC on the $8.7M purchase of Bethany Marketplace, a 66.4KSF retail property at the NEC of Bethany Home Road and I-17 Freeway in Phoenix. The buyer will be updating the property. The seller was Bethany Marketplace Partners, LLC.
8. NAI Horizon’s Jason Griffith (NAI Excel), Gabe Ortega, Chris Gerow and Shelby Tworek negotiated the sale of a 16.6KSF retail building, representing the buyer, Salt Castle Trust, for $6M. The property is located at 13847 N. Northsight Blvd., Scottsdale. The seller, Bradley Investments, LLC, was represented by Joe Cosgrove with LevRose CRE.
9. Van West Acquisitions LLC has purchased the 330-unit Vault Storage and RV facility in Tucson for $5.43M. Seller Vault at Old Vail Road LLC was represented by Denise Nunez and Victoria Filice of the Nunez Self-Storage Group at NAI Horizon.
10. ABI Multifamily announced the $4.1M sale of 1804 on the Light Rail, a 16-unit multifamily apartment community located at 1804 West Tuckey Ln., Phoenix. ABI’s Carson Griesemer, Dallin Hammond and Mitchell Drake represented the Arizona-based buyer and California-based seller.
11. RSK 5140, LLC purchased an 8.5KSF medical office located at 5140 E. Glenn St., in Glenn Medical Village, Tucson, from DBS Property Holdings, LLC, BS & AD Investments, LLC, and Constantin C. Boiangiu for $4M. Richard M. Kleiner with Cushman & Wakefield | PICOR represented both parties.
12. ABI Multifamily announced the $2.9M sale of Alvarado Place Apartments, a 10-unit multifamily community at 376 E. Alvarado Road, Phoenix. ABI’s Dallin Hammond, Mitchell Drake and Carson Griesemer represented the California-based buyer and Arizona-based seller.
Lease Transactions
13. Costco Wholesale Corp.’s 165KSF outlet, currently under construction, will serve as the anchor tenant at Vestar’s 300KSF Queen Creek Crossing development in Queen Creek.
14. NAI Horizon’s Isy Sonabend and Drew Eisen represented the landlord, VWP 48th Street Owner, LLC, in a 63-month industrial lease for 42.1KSF at 3232 S. 48th St., Phoenix. The tenant, Monterrey Tile AZ, LLC, was represented by Tom Ellixson with Menlo CRE.
15. Torus IT Systems LLC leased 27KSF of industrial space at 5901 S. Belvedere Ave., Tucson, from AAW Belvedere LLC. Robert C. Glaser and Paul Hooker with Cushman & Wakefield | PICOR represented the landlord in this transaction.
16. Alliance Beverage Distributing Company, LLC, dba Breakthru Beverage Arizona, leased 23.5KSF of industrial space at Daybreak Distribution Center, 6360 S. Tucson Blvd., Tucson, from Daybreak Industrial QOB, LLC. Robert C. Glaser and Paul Hooker with Cushman & Wakefield | PICOR represented the landlord in this transaction. Robert Martensen with Colliers International AZ represented the tenant.
17. SAMTEC, the Town of Sahuarita’s Sahuarita Advanced Manufacturing and Technology Center recently executed a 14KSF lease with Power Photonic and a 13KSF lease with Steel Jupiter.
