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    Home » Commercial Real Estate » Commercial Real Estate News 05-21-24
    Commercial Real Estate

    Commercial Real Estate News 05-21-24

    BEX StaffBy BEX StaffMay 21, 2024No Comments3 Mins Read
    8. 1011 Apartments. Credit: ABI Multifamily
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    Sales Transactions

    1. HP AZB Investments LP, a joint partnership between Henderson Park and Pyramid Global Hospitality, purchased the famous 28-acre resort property The Arizona Biltmore in Phoenix from Blackstone Inc. for $705M.

    2. Will Strong, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield represented the seller, Flint Development, in the $118.65M sale of Tucson Commerce Center, an 806.6KSF industrial/logistics building in Tucson. Bridge Investment Group purchased 504.2KSF of Building II and Building III of the centers. An undisclosed buyer purchased the remaining 302.4KSF of Building I.

    3. Tom Adelson and Erin McClure of Newmark Group Inc. represented the buyer, Initial Development, in the $14M sale of The Executive Center at Southbank, a 141KSF industrial space in Phoenix. The seller, LBA Realty, was represented by Will Mast of JLL Capital Markets. The center consists of seven office buildings near the Phoenix Sky Harbor International Airport.

    4. Mill Creek Residential and its subsidiaries have paid $10.4M for 12.59 acres at the SWC of Queen Creek Road and Arizona Avenue in Chandler. The purchase paves the way for Mill Creek’s Modera Chandler (Chandler Farms) development, a multifamily community planned for 345 units across eight three-story buildings.

    5. Cushman & Wakefield advised on the $5.38M sale of 5656 W. Talavi Blvd., a 31.3KSF office building in Glendale. Eric Wichterman, Mike Coover and Alexandra Loye of Cushman & Wakefield collaborated with John Pierson of JLL in representing the seller, Arizona Dental Insurance Service Inc. dba Delta Dental of Arizona. The buyer was undisclosed.

    6. NAI Horizon represented the buyer, Packing Solutions for Any Product, in the $4.7M sale of 2760 S. La Luna, a 12KSF industrial building in Goodyear. Chris Toci of Cushman & Wakefield represented the seller, A1 Desert Investments, LLC.

    7. AMFS AZ, LLC purchased the $4.69M Ajax Metal Forming Solutions, a 30KSF warehouse with a large office, from Marlin Investments at the Butterfield Business Center in Tucson. Gordon Wagner from NAI Horizon represented the seller.

    8. ABI Multifamily announced the $2.65M sale of 1011 Apartments, a 20-unit multifamily apartment community in Phoenix. The undisclosed buyer and seller were represented by ABI’s Carson Griesemer, Mitchell Drake, and Dallin Hammond.

    Lease Transactions

    9. WillScot Mobile Mini Holding Corp. has leased a 90KSF floor of Scottsdale Entrada in Scottsdale. Ryan Bartos and Jami Savage-Gray of JLL brokered the deal on behalf of the tenant. Brett Abramson, John Bonnell, Chris Latvaaho, Kyle Seeger and Chris Beall of Stream Realty Partners were the listing brokers.

    10. ArchWell Health, LLC leased 10.8KSF of retail space at 9550 E. Golf Links Road, Suite 120, Tucson from Leyenda En Tiempo. Natalie Furrier and Greg Furrier with Cushman & Wakefield | PICOR represented the landlord. Elizabeth Hoffman with ASI Real Estate Investments LLC represented the tenant.

    11. Vortex Industries, LLC leased 10.6KSF of industrial space at 6363 S. Country Club Road, Suite 151, in Tucson from 6363 S. Country Club, LLC. Paul Hooker with Cushman & Wakefield | PICOR represented the landlord. Tim Healy with CBRE, Tucson, represented the tenant.  

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