Sales Transactions
1. Indicap, Colmena Group and Langley Properties have closed on 311+ acres of land at the northwest corner of Power Road and Warner Road in Gilbert for $107.5M. The land will be developed into The Ranch, a mixed-use development including industrial, office, retail and residential uses. Jason Hyams of Insight Land and Investments represented the buyer, and Danny & Scott Perkinson of Perk Prop Real Estate represented the sellers, The Dale C. Morrison Trust.
2. Swan Lake Estates Mobile Home Community, located at 4550 N. Flowing Wells Road, and Friendly Village MHC located at 1202 W. Miracle Mile Road in Tucson have sold for the two property portfolio price of $37M or $98K/space. The communities totaled 376 sites. John Sheedy of Park Brokerage and Commercialrepresented the California seller and procured the Scottsdale-based operator.
3. Park Brokerage and Commercial, LLC has announced the sale of Country Villa MHC in Avondale and Purple Sage MHC in Glendale for a combined price of $20.7M. John Sheedy with Park Brokerage represented the private seller and procured the buyer. Neither the buyer or seller were identified.
4. CPI has brokered a 22.5-acre site in Pinal County at the east side of Meridian Road, just south of Pecos Road, in the town of Queen Creek, for a future less-than-truckload terminal. Jeff Hays and Sam Rutledge represented the buyer, Lakeshore Ventures, LLC. The parcel was sold for $11M or $11.23/SF.
Lease Transactions
5. Better Box sublet 20KSF of industrial space from XO Windows, LLC at 3850 E. 44th St. in Tucson. Robert C. Glaser, SIOR, CCIM, Principal, and Alex Demeroutis of Cushman & Wakefield | PICOR handled the transaction.