Sales Transactions
1. Berkadia announced it represented the buyer in the $6.26M sale of 20 acres planned for a multifamily development at Peart and Kortsen roads in Casa Grande. The Berkadia team consisted of Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis.
2. The Compound Student Housing complex, a 7-unit, 28-bed community at 774 & 794 E. Seneca St. in Tucson sold for $2.9M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both the buyer and seller.
3. William, Jeffrey and Alexandra Selby have sold the nearly 20-acre Tucson Racquet and Fitness Club and its 30.5KSF of buildings to an affiliate of James Tofel of Tofel & Dent Construction for $2.47M. Tofel’s grandfather built the current facility in 1967.
4. Newmark has facilitated the sale of Ahwatukee Mercado, a 95% leased retail center shadow-anchored by Safeway Grocery Store. The sale amount was not disclosed. Newmark’s Steve Julius, Jesse Goldsmith and Chase Dorsett represented the seller, Westwood Financial. The buyer was Investments Concepts, Inc.
5. Cushman & Wakefield announced the firm has advised the sale of a two-building industrial/flex office portfolio totaling 158.5KSF in Tempe at 1100 and 1150 W. Grove Pkwy. The sale amount was not disclosed. Chris Toci, Eric Wichterman and Mike Coover with Cushman & Wakefield’s Capital Markets and Private Capital Markets teams in Phoenix represented the seller. The firm’s Jerry Roberts and Pat Boyle also provided leasing advisory.
Lease Transactions
6. On behalf of Echo Real Estate Capital, the Phoenix Office of JLL has signed logistics specialist Axle on Demand to a 126KSF pre-lease at Echo Park 303 in Glendale. The transaction represents Axle on Demand’s sixth metro Phoenix location and fills more than half of Echo Park 303’s Building A.