Sales Transactions
1. KKR & Co., Inc. sold The District at Scottsdale, a 332-unit luxury apartment complex, for $161.5M to Fairfield Residential. The complex includes a four-story residential building and two clubhouses totaling more than 382KSF.
2. Brookfield Corp.’s 1.1MSF Park Place Mall in Tucson has sold for $87M in a foreclosure auction. Pacific Retail Capital Partners has been appointed to manage and lease the property.
3. Lafferty Development has completed the second stage of its two-stage, $55M sale of 2051 Apartments, a 200-unit development in Prescott. The buyer was Kodiak 2051 Operator LLC. Lafferty was represented by Todd Braun of Lee & Associates.
4. Banner Health has sold the 76.3KSf Banner Health Center medical office building in Sun City West to Montecito Medical Real Estate for $33.25M. Banner will lease back the location on a 12-year lease.
5. CBRE’s Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke arranged the sale of the 56-unit Landmark on 67th in Peoria for $16.23M. The team represented seller RET3 LLC, who sold the property to LM67 LLC.
6. Mark Ruble and Chris Lind of Marcus & Millichap represented the undisclosed seller in the sale of a 3.9KSF property leased and occupied by Panera Bread in Queen Creek. Marcus & Millichap’s David Cutler, Joshua Johnson and Kirk Trammell represented the unidentified buyer. The property sold for $5.1M.
7. Casa Maria Soup Kitchen bought The Arizona Motel a 32-room hotel and 25-space RV park in Tucson for $3.075M after two years of saving. The purchase will offer affordable housing in south Tucson.
Lease Transactions
8. PricewaterhouseCoopers International Limited leased a 15.72KSF office space within The Grove in Phoenix. PwC joins JLL, Clayco, Common Bond Development Group, Sendoso and Clear Sky Capital.
9. Holley Performance Products, Inc. leased 21.8KSF of industrial space at Tucson Airport Center 2, 6818 S. Country Club Road, Suite 170 in Tucson, from Schnitzer Properties, LLC. Jesse Blum, and Alex Demeroutis with Cushman & Wakefield | PICOR represented the landlord. Joey Castillo with Volk Company represented the tenant.
10. Core & Main leased 11KSF of industrial space at 2425 W. Curtis Road in Tucson from Western American Investments LLC. Paul Hooker with Cushman & Wakefield | PICOR represented the landlord. Tim Healy and Lauris Caston with CBRE represented the tenant.