Sales Transactions
1. Northmarq recently announced the $119.7M sale of TerraLane at Canyon Trails in Goodyear and the $66.2M sale of TerraLane at South Mountain in Phoenix. The firm’s Trevor Koskovich, Bill Hahn, Jesse Hudson and Ryan Boyle represented seller RSI Holding, Inc. The buyer was Inland Real Estate Acquisitions.
2. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented buyer SB Real Estate Partners in the $91M purchase of Azura Apartments, a 387-unit community in Phoenix. The seller was an entity linked to Carol Ann Watson.
3. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented builder and seller Greenlight Communities LLC in the $84M sale of the 224-unit Cabana Power apartment development in Mesa.
4. Cushman & Wakefield’s Will Strong, Greer Oliver and Connor Nebeker-Hay represented seller Cohen Asset Management in the $60M disposition of Freeway Logistics Center, a 230.4KSF industrial complex in Phoenix. The buyer was a fund sponsored by CBRE Investment Management.
5. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented seller Waahe Capital and secured buyer Vertical Street Ventures for the $21.1M sale of Equinox on Prince, a 114-unit multifamily community in Tucson.
6. Cushman & Wakefield announced the firm has brokered the sale of 8123 S. Hardy Dr. a 56.2KSF flex office property in Tempe. The seller was 7172 South Airport Road, LLC and the buyer was RSE Capital Partners, LLC. Cushman & Wakefield’s Eric Wichterman, Mike Coover, Brad Anderson and Mike Strittmatter brokered the transaction.
7. Marcus & Millichap announced the $7.9M sale of the 41-unit Fillmore Arms apartment community in Phoenix. M&M’s Paul Bay and Darrell Moffitt represented the private investor seller and procured the private investor buyer.
8. A 4.2KSF Super Star Car Wash on West Camelback Road in Phoenix sold for $7.5M. Seller RS AZ Investments LLC was represented by Zack House, Mark Ruble and Chris Lind of Marcus & Millichap.
9. A 6KSF office building at 6401 N. Campbell in Tucson was purchased for $5.8M by 6401 North Campbell JV. Seller Skyline Encantada Investors LLC was represented by Isaac Figueroa of Larsen Baker.
10. Marcus & Millichap announced the $3.88M sale of Las Palmas, a 16-unit apartment community in Tempe. Paul Bay and Jason Tuvia of M&M represented the private investor seller.
11. SVN | Desert Commercial Advisors’ Jonathan Levy and Anthony Ruiz represented the seller in the $3.2M sale of a two-office property at 7103-7107 N. Black Canyon Hwy. in Phoenix.
12. The 9.34KSF Arena Building in the Ventana Canyon Office Park in Tucson has sold for The seller was Arena Real Estate Development, LP, represented by Buzz Isaacson of Buzz Isaacson Realty. The buyer was Drachman Holdings LLC., represented by Roy Drachman of Roy Drachman Realty Company.
13. ABI Multifamily announced the $2.5M sale of Canyon Wren Cabins in Sedona. Both parties are based in Arizona, and the seller was represented by ABI’s Patrick Burch and John Klocek.
14. NAI Horizon’s Michael Gaida negotiated the sale of 5.1 acres, including 18KSF of industrial buildings, representing the seller, DRA, LLC, for $2.4M. The property is located at 32240 W. Bud Road, Maricopa. The buyer, the City of Maricopa, was self-represented.
15. Represented by Bill Alter of Rein & Grossoehme, MR Investments, LLLP sold the nine-building, 54KSF Glendale Self Storage facility on 43rd Avenue to an undisclosed buyer for an undisclosed price.
16. Link Senior Development and The Roxborough Group LLC have acquired the 15.3-acre, 301-unit Park Terrace Senior Living community in Phoenix. JLL assisted Link in sourcing the debt. No transaction amount or other parties were disclosed.
Lease Transactions
17. MDH Partners announced two tenants have leased all 600KSF in its Gateway 303 industrial development in Goodyear. Winsupply leased 362.6KSF, and PepsiCo leased 237.3KSF. MDH was represented by Rust Kennedy, Pat Feeney, Dan Calihan and James Cohn of CBRE Group Inc. Bill Bayless of CBRE represented Winsupply.
18. Musical instrument and equipment provider Sweetwater Sound has leased the 350KSF 303 Logistics industrial facility at 16801 W. Glendale Ave. in Glendale. Leasing was handled by JLL’s Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle.
19. NAI Horizon’s Isy Sonabend and Drew Eisen represented the tenant, Landesberg Orora, in a 60-month industrial lease for 80.6KSFSF at 5120 W. Buckeye Road, Phoenix. The landlord, Cohen Asset Mgmt., was represented by Don MacWilliam with Colliers.
20. Tech Data Corp. has leased 52KSF in the 410 Commons Building at Rivulon in Gilbert.
