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    Home » Commercial Real Estate » Commercial Real Estate News 11-15-22
    Commercial Real Estate

    Commercial Real Estate News 11-15-22

    BEX StaffBy BEX StaffNovember 15, 2022No Comments4 Mins Read
    11. Airgate Corporate Center. Credit: NAI Horizon
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    Sales Transactions

    1. The Pavilions – a 10.4-acre, 129.7KSF retail center at the SEC of Dobson and Guadalupe roads in Mesa – has been sold to Pavilion Jasleen LLC and Pavilions Banwait LLC for $22M. Seller West Valley Properties was represented by Phoenix Commercial Advisors’ Danny Gardiner and Chad Tiedeman.

    2. Cushman & Wakefield | PICOR announced the firm has brokered the sale of Black Canyon Commerce Center – Building A, a 62.8KSF multi-tenant office building in Phoenix. The property was acquired by Evergreen Associates, LLC for $11.2M. Eric Wichterman and Mike Coover with Cushman & Wakefield’s Private Capital represented the seller, Next Gen Black Canyon, LLC.

    3. APAAR, LLC has paid $8.4M for the 167-room Best Western Tucson International Airport Hotel & Suites in Tucson. Seller HSL Airport Hotel, LLC (HSL Properties) was represented by Ryan Wall with Pro Hospitality Group.

    4. Represented by Jared Lively of Rein & Grossoehme, Rainbow Investments, LLC bought the 72.2KSF Bell Mar Plaza in Surprise for $7.2M. The seller was Arizona Property Management, LLC.

    5. Diversified Partners announced it has facilitated the sale of Daisy Mountain Plaza, a 5.1KSF retail space on Daisy Mountain Drive in Anthem. The transaction was brokered by Diversified’s Emma Barreca.

    6. Park Brokerage Inc. announced the $4.2M sale of Covered Wagon RV Park in north Phoenix. Park Brokerage’s John Sheedy represented both the buyer and seller.

    7. Chrome Hearts Real Estate Holdings, LLC purchased 38.92 acres of land at 8500 S. Rita Road, in Tucson, from Arizona Glass Properties, LLC for $2.5M. Stephen D. Cohen with Cushman & Wakefield | PICOR represented the seller. Gary Emerson with GRE Partners, LLC and Robert Cohen with Newmark Knight Frank represented the buyer. 

    8. Larsen Baker announced the $2.4M sale of Fort Lowell Professional Offices in Tucson. Seller Cachita, LLC was represented by Larsen Baker’s Isaac Figueroa. Buyer DFP Properties, LLC, was represented by Julian Willets with REMAX Excalibur.

    9. Newmark announced it has arranged the sale of the 200-unit Cobblestone Apartments multifamily community in Phoenix. Seller Sharo Khastoo was represented by Newmark’s Chris Canter, Brett Polachek and Brad Goff. Neither the buyer nor the transaction amount was disclosed.

    Lease Transactions

    10. NAI Horizon’s Jeff Adams represented AES Direct Express LLC (SKU Distribution) in the lease of the 142.7KSF Airgate Corporate Center in Mesa. The landlord is Airgate Mesa Corporate Center, LLC, represented by Ken McQueen, Chris McClurg, and Blake Peters with Lee & Associates of Arizona.

    11. AES Direct Express LLC (SKU Distribution), represented by NAI Horizon’s Jeff Adams, has leased the 111KSF The Confluence in Mesa. Lee & Associates of Arizona’s Ken McQueen, Chris McClurg and Blake Peters represented landlord Mesa Gateway Owner, LLC (Ryan Development).

    12. Transwestern Real Estate Services’ Mark Stratz, Vince Femiano and Scott Baumgarten brokered three leases totaling 24.1KSF for the 372KSF Ilume Innovation Center in Scottsdale. Transwestern represented owner Stockdale Capital Partners. The lessees are: An undisclosed chemical research company (15KSF), Vidium Animal Health (5.1KSF) and Nu Planet (4KSF). Nu Planet was represented by Nathan Pancrazi at Keyser.

    13. Athena Logistics leased 19.95KSF of industrial space at 772 W. Frontage Road, Suite 2 in Nogales, from Nogales Warehouse, LLC. Jose Dabdoub with Cushman & Wakefield | PICOR represented both parties.

    14. Larsen Baker announced Dreamstyle Remodeling, LLC has leased 14.9KSF at Valencia Tech Park in Tucson. Larsen Baker is the landlord through its affiliate Valencia Tech Park, LLC and was represented by its own Isaac Figueroa.

    15. Advanced Financial Company is expanding its presence at the 5151 East Broadway Building in Tucson with a $2M capital investment. Square footage was not disclosed, but the expansion will include the addition of 152 new jobs over five years.

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