Sales Transactions
1. Creation has announced the sale of the 860.6KSF 10 West Commerce Park, home to Funko’s U.S. distribution center, to Cohen Asset Management for $130M. Will Strong of Cushman & Wakefield brokered the deal.
2. The 301-unit Park Terrace Senior Living at 2577 W. Greenway Road in Phoenix has sold to Link Senior Development and The Roxborough Group LLC for $45M. JLL assisted Link in securing debt and equity partners. An entity associated with Homan Zarghampour was the seller.
3. Next Round Asset Management, LLC has purchased the 240-unit Palomino Crossing apartment community in Tucson for $28M. Seller AndMark Management Company was represented by Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle of Northmarq.
4. Cowabunga LLC has bought the 100-unit Summit on Thomas apartment community in Phoenix for $21M, represented by Karl Abert and Bret Zinn of Kidder Mathews. Rise48 was the seller.
5. Smart Locker Storage LLC, represented by Cushman & Wakefield’s Eric Wichterman, Mike Cover, Steve Lindley and Alexandra Loye , has purchased the 40KSF Gilbert mixed-use development The Collab from Creation for $20.2M.
6. Arizona Land Consulting announced the closing of a 350-acre land transaction in Casa Grande for $20M. The property sits near Lucid Motors.
7. ABI Multifamily announced the $9.5M sale of Urbana at Hayward, a 34-unit multifamily apartment community at 2020 W. Hayward Ave., Phoenix. ABI’s Mitchell Drake, Dallin Hammond and Carson Griesemer represented the seller.
8. LevRose CRE’s Danielle Davis, Trent McCullough, Mark Cassell, Matt Beeks and Branden Mondragon represented the seller, Scottsdale Drinkwater Trust, in the $5.3M sale of a 6.6KSF office at 4250 N. Drinkwater Blvd., Scottsdale. The buyer was Drinkwater Commercial Investments LLC.
9. 9th St 814-838 E, LLC purchased Sonoran on 9th Apartments, a 21.9KSF multifamily investment property at 814-838 E. 9th Street in Tucson. The 26-unit apartment building was purchased from Pelican 9th LLC for $5.3M. Allan Mendelsberg and Conrad Joey Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties.
10. LevRose CRE’s Danielle Davis, Trent McCullough and Branden Mondragon represented the landlord, Hudye Group, in the $4.9M sale of an 11.2KSF retail building at 4333 N. Scottsdale Road, Scottsdale. The buyer was Galleria Triangle, LLC.
11. LevRose CRE’s Danielle Davis, Trent McCullough, Mark Cassell and Matt Beeks represented the seller, Ocotillo Strategic Alliance LLC, in the $3.9M sale of a 5.3KSF retail/office building at 3225 S. Alma School Road in Chandler. The buyer was Ocotillo Commercial Strategies LLC.
12. LevRose CRE’s Matt Leonard and Jeff Tricco represented the seller, FIFO, LLC, in the $3.45M sale of a 68.2KSF medical office building at 560 W. Brown Road in Mesa. The buyer was 560 Brown Apartments, LLC.
13. LevRose CRE’s Zak Kottler, Joe Cosgrove and Hunter Chasse represented the buyer, Kamani Properties 5001, LLC, in the $2.96M acquisition of a 6KSF office building at 5001 N. Granite Reef Road, Scottsdale. The seller was Purple Feline Properties, LLC.
14. NAI Horizon’s Chris Gerow, Gabe Ortega and Shelby Tworek negotiated the sale of a 7KSF building, representing the sellers, Joseph DeSalvo & Karen Morawsky, for $2.35M. The property is located at 3235 W. State Route 89A. The buyer, Arizona Water Co., was self-represented.
15. LevRose CRE’s Mark Cassell, Landon McKernan and Matt Beeks represented the seller, Venus I, LLC, in the $2.3M sale of a 10.4KSF industrial building at 707 E. Curry Road, in Tempe. The buyer was the Colyer Trust.
Lease Transactions
16. Performance Power Sports Group, Inc – dba Coleman Power Sports – has leased 58.5KSF in the Metro East Valley Commerce Center III building in Mesa. The tenant was represented by Steve Grossoehme of Rein & Grossoehme Commercial Real Estate. Landlord Metro Commercial Properties and Principal Financial Group was represented by Kris McClurg and Kurt Saulnier of Lee & Associates.
17. NAI Horizon’s Isy Sonabend and Drew Eisen represented the tenant, RIIFO North America, Inc., in a 61-month industrial lease for 30.5KSF at 3901 W. Buckeye Road. The landlord, SL6 PHX Industrial LP, was represented by Jeff Conrad & Ryan Hingst with Lee & Associates.
18. LevRose CRE’s Zak Kottler, Joe Cosgrove and Hunter Chasse represented the tenant, Neon Logistics LLC, in a lease of 29KSF at 6900 E. Camelback Road, Scottsdale. The landlord is WCCP 6900 Camelback LLC.
19. Access Medical Incorporated leased 10.7KSF of retail space at 5311-5317 E. Speedway Blvd., in Tucson, from HLF Properties, Inc. Andy Seleznov with Cushman & Wakefield | PICOR, represented the landlord.
20. TMC Medical Network leased 10.5KSF of medical office space from TMC Holdings, Inc, located in Rincon Medical Center, 9348-9356 E. Rita Road in Tucson. Richard M. Kleiner with Cushman & Wakefield | PICOR represented both parties.