Sales Transactions
1. Cushman & Wakefield has advised the joint venture of Martens Development and Dune Real Estate Partners in the dispositional sale(s) of The Landing 3, 4 and 5 (“The Landing”), an 858.9KSF industrial on more than 64 acres along Ray Road in Mesa. The seller was represented by Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, including Will Strong, Greer Oliver and Connor Nebeker-Hay. The IAG team was joined by Adam Spies and Marcella Fasulo. CBRE’s Kevin Cosca provided leasing advisory. Rob Rubano and Brian Share with C&W arranged financing for the buyer.
2. ABI Multifamily announced the $59M sale of Mission Antigua Apartments, a 248-unit multifamily community in Tucson. ABI’s Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick, in collaboration with Desiree Palmer and Ryan Kippes, represented both parties.
3. Institutional Property Advisors, a division of Marcus & Millichap, announced the $53.9M sale of Peaks at Redington, a 301-unit multifamily asset in Tucson. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of IPA represented the seller SB Pacific Group. The buyer was MF Asset Management.
4. JLL Capital Markets announced it has closed the $28.98M sale of Chandler Pavilions, a 163.3KSF retail center in Chandler. JLL marketed the property on behalf of the seller, Evergreen Devco, Inc. Schnitzer Properties was the buyer.
5. ABI Multifamily announced the $25.55M sale of the 96-unit Rise Melrose Apartments, 930 W. Indian School Road, Phoenix. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick represented the buyer and seller. The buyer is based in Washington and the seller, Rise48 Equity, is based in Arizona.
6. ORION Investment Real Estate announced it represented both the buyer and seller in the recent $18.27M sale of Glendale Gardens, an 87-unit apartment development at 81st and Glendale avenues.
7. Phoenix Commercial Advisors facilitated the $16.725M sale of SanTan Gateway South, a 56.9KSF grocery-anchored center on 6.84 acres in Chandler. John Schweikert, Danny Gardiner and Chad Tiedeman at Phoenix Commercial Advisors represented the seller.
8. Newmark announced it has completed the $8.8M sale of the Plaza Town Center Professional Plaza, a 26.97KSF medical office building at 9139 W. Thunderbird Road in Peoria. Newmark’s Kathleen Morgan represented the seller, Garnett Capital, in the sale to Evergreen Medical Properties.
9. Menlo Group Commercial Real Estate brokered the $6.45M sale of the 122-room Days Inn by Wyndham Show Low. Seller White Mountain Lodging, Inc. was represented by Nyal Sewell of Menlo Group. The property was purchased by Gurpratap Singh Gill and Parampartap Singh Sandhu, who were represented by Sahib Singh of JaegerCRE.
10. LevRose CRE/TCN Worldwide’s Zak Kottler, and Joe Cosgrove and Hunter Chasse represented the seller, Bradley Investments LLC, in the $6M sale of a 16.6KSF office building at 13847 N. Northsight Blvd., Scottsdale. The buyer was Salt Castle Trust.
11. LevRose CRE/TCN Worldwide’s Danielle Davis, Trent McCullough, Mark Cassell, Branden Mondragon and Matt Beeks represented the seller, Scottsdale Drinkwater Trust, in the $5.3M sale of a 6.6KSF retail building at 4250 N. Drinkwater Blvd., Scottsdale. The buyer was Drinkwater Commercial Investments LLC.
12. LevRose CRE/TCN Worldwide’s Danielle Davis, Trent McCullough and Branden Mondragon represented the landlord, Hudye Group, in the $4.9M sale of an 11.16KSF retail building at 4333 N. Scottsdale Road, Scottsdale. The buyer was Galleria Triangle LLC.
13. LevRose CRE/TCN Worldwide’s Danielle Davis, Trent McCullough and Branden Mondragon represented both the seller, Fassco Investments LLC, and the buyer, Chestnut Realty Group LLC., in the $4.5M sale of a 17.5KSF retail building at 6961 E. 1st Street, Scottsdale.
14. Triumph Realty Investment Fund II has paid $4.4M for a 31.5KSF office building at 4130 E. Van Buren Street in Phoenix. The buyer was represented by LevRose CRE/TCN Worldwide’s Keri Davies, Jason Reddington, and Jon Rosenberg of LevRose Real Estate/TCN Worldwide.
15. Land Advisors Organization’s Kirk P. McCarville and Trey Davis represented sellers San Carlos 198 LLC and The Kendler Family Trust in two Casa Grande land sales totaling $3.7M. The buyer is KPPC Advanced Chemicals Inc. (KANTO-PPC), a chemical supplier to the Taiwan Semiconductor Manufacturing Company. The San Carlos sale totaled $1.78M for 26.22 acres, and the Kendler sale totaled $1.9M for 24 acres.
16. Walling Brothers LLC has bought a 28.2KSF industrial site at 4275-4285 S Santa Rita Avenue in Tucson for $3.35M. Part of the property will be used to expand Walling Brothers’ Re-Bath of Tucson showroom. Seller CJR Properties, Inc. was represented by Joey Castillo of VOLK Company.
Lease Transactions
17. LevRose CRE/TCN Worldwide’s Zak Kottler, Joe Cosgrove and Hunter Chasse represented the tenant, Neon Logistics LLC, in the leasing of a 29KSF office building at 6900 E. Camelback Road, Scottsdale. Neon Logistics will occupy the seventh and 11th floors. The landlord is WCCP 6900 Camelback LLC.
18. En Fuego Construction LLC leased 23.2 KSF of industrial space at 2626 S. 4th Avenue, buildings A, B & C in Tucson, from Tin Cup Properties, LLC. Ron Zimmerman with Cushman & Wakefield | PICOR represented the landlord.