Sales Transactions
1. Westcore has paid $92.7M for the 906.1KSF Hatcher Industrial Park in Glendale. The seller was Ryan Companies US, Inc. Tony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle from JLL assisted with the transaction.
2. Institutional Property Advisors, a division of Marcus & Millichap, closed on Cabana Encanto, a 286-unit multifamily housing community in Goodyear, for $61M. IPA’s Steve Gebing and Cliff David represented seller Greenlight Communities and procured the buyer, a partnership between Sunrise Multifamily and Ascent Equity Group.
3. Gannett Co., the parent company for The Arizona Republic, sold its north Phoenix printing facility—a 20-acre industrial property—near 19th Avenue and Williams Drive for $38M. The property was purchased by a partnership between Atlas Capital Partners and DRA Advisors.
4. Big Brothers Big Sisters of Southern Arizona purchased two buildings on 1.07 acres at 2552 N. Alvernon Way in Tuscon for $2.12M. Plans for the site include a 5.7KSF Mentoring Activity Center. Isaac Figueroa with Larsen Baker represented BBBS, while Dean Cotlow with Cotlow Company represented the seller, Alvernon Investors Group I, LLC.
5. RADCO Cos. has bought the 143-room Aloft Phoenix-Airport hotel on East Washington Street in Phoenix for an undisclosed amount and is planning renovations. Cushman & Wakefield’s Bill Murney represented the undisclosed seller.
Lease Transactions
6. Law firm Davis Miles McGuire Gardner signed a 17.4KSF lease for office space at 999 Playa Del Norte. Clint and Blake Hardison of Ike Commercial Real Estate represented the tenant. Pat Boyle and Jerry Roberts with Cushman & Wakefield were the brokers for landlord Irgens.
7. MSE Supplies, LLC leased 11.5KSF of industrial space at Bay Colony Technology Center, 2705 E. Medina Road, Ste. 161-171 in Tucson, from 2705 Medina Properties, LLC. Stephen D. Cohen, Jesse Blum and Alex Demeroutis with Cushman & Wakefield | PICOR represented the landlord. Hagen Hyatt with Jones Lang LaSalle Americas, Inc., represented the tenant.