Sales Transactions
1. Rosewood Property Company bought the 661-unit, 66.4KSF Extra Space Storage facility at 770 N. Kolb Road in Tucson for $13.5M.
2. Cushman & Wakefield announced the firm has brokered the sale of an approximately 1.0-acre high-rise apartment redevelopment site in downtown Phoenix. The buyer, Masyno Holding LLC, acquired the transit-oriented property at the NWC of 1st and McKinley streets for $12M. David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented seller Glasir Capital Partners. The buyer was represented by Mark Bramlett with Lee & Associates
3. RAB Properties AZ, LLC paid $5.25M for an 8.8KSF building in the Cortana Ranch II retail center in Marana. The building was fully leased to four tenants. The buyer was represented by Marcus Muirhead with Lee & Associates. Seller Thompson Thrift Real Estate Company (Cortaro Commercial JV, LLC) was represented by Chris Hollenbeck with Cushman & Wakefield.
4. Monte Vista Apts LLC purchased Monte Vista Commons, a 23.3KSF investment property, located at 3949 E. Monte Vista Dr. in Tucson. The 36-unit apartment property was purchased from Monte Vista Commons LLC for $3.1M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both parties.
5. Arcis Golf has bought the two-course Grayhawk Golf Club at 8620 E. Thompson Peak Pkwy. in Scottsdale. Terms of the purchase were not disclosed.
6. A joint venture between Toll Brothers and Harrison Street has sold the 826-bed Canvas Tempe student housing development in Tempe to University Partners for an undisclosed sum. The transaction was brokered by TSB Realty. Tim Bradley, Shawn Sweeney and Steve Hovanec with TSB Capital Advisors arranged financing for the buyer.
Lease Transactions
7. ABC Supply Company leased 48KSF of industrial space at 4100 E. Michigan St. in Tucson from Jude Baker LLC. Paul Hooker and Robert C. Glaser with Cushman & Wakefield | PICOR represented the landlord. Mike Kasulaitis with Kidder Mathews, Inc. represented the tenant.
8. Call center firm Televerde has relocated its headquarters to an 11KSF space at 2800 Tower, 2800 N. Central Ave., Phoenix, nearly tripling its local area office space. Televerde was represented by Erin McClure of Newmark Group Inc. Bill Blake, Colton Trauter and Carter Gerardo with Lee & Associates are 2800 Tower’s listing brokers.