Sales Transactions
1. MG Properties Group has purchased the 324-unit Parc Broadway apartment community in Tempe from Evergreen Devco for $100.25M. The seller was represented by Steve Gebing and Cliff David with Institutional Property Advisors, a division of Marcus & Millichap. The property has been rebranded as Novo Broadway Apartments.
2. Cushman & Wakefield announced the sale of Scottsdale Northsight, a 138.7KSF office building complex in Scottsdale, for $26.5M. Chris Toci, Eric Wichterman and Mike Coover with Cushman & Wakefield represented the seller, MIREF Northsight, LLC. PREG Scottsdale, LLC was the buyer.
3. Inline shops at Oracle and Wetmore in Tucson sold to Acacia-Tucson for $25.5M. The buyer, a subsidiary of Acacia Real Estate Group, self-represented. Seller RJR Vacaville, LLC was represented by Ryan Schubert, Michael Hackett, and Zach Aulick with Cushman & Wakefield. The location is anchored by Home Depot, which was not included in the sale.
4. Lane Neville and Cole Neville with NAI Horizon negotiated on behalf of seller Flying E Ranch Holdings, LLC in the $7.07M sale of 643 acres of land near Wickenburg. Buyer Emond Family Revocable Trust was self-represented.
5. Mark Ruble and Chris Lind with Marcus & Millichap exclusively listed a 7.7KSF retail property at 320 W. Bell Road in Phoenix for $3.6M on behalf of the seller. The buyer was represented by Marcus & Millichap’s Matthew Jarecki, Mark Ruble and Chris Lind. Neither party was identified.
6. A private investor has bought a 12.9KSF retail building in Peoria for $3.1M. The location is occupied by Dunn-Edwards Paints, and the deal includes a triple-net lease agreement. Nick Christifulli, Mark Ruble and Chris Lund of Marcus & Millichap represented the seller.
7. Christopher Itule with DSW Commercial Real Estate represented seller The Common Group in the $2.4M sale of a 2.5KSF Starbucks-leased retail location at 3700 S. 6th Ave. in Tucson. Manabu Kagiyama of Dotown Inc. represented the unidentified buyer.
8. Centria Autism, through its affiliate 2222 South Craycroft Road, LLC, has paid $2.15M for the 13.8KSF Vantage West Annex building at 2222 S Craycroft in Tucson. Seller Vantage West Credit Union was represented by Rick Kleiner and Alexis Corona with Cushman & Wakefield | PICOR. The buyer was represented by Gordon Wagner and Ben Craney with NAI Horizon in Tucson.
9. CBRE’s Geoffrey Turbow, Gary Cornish, Matt Pourcho, Anthony DeLorenzo and Bryan Johnson arranged the sale of a nine-building medical office complex totaling 56.3KSF in north Phoenix, adjacent to Abrazo Health Scottsdale Hospital Campus. Cypress West Partners, the seller, was represented by CBRE. Neither the buyer nor the sale price was disclosed.
Lease Transactions
10. Parts Town Unlimited will occupy 420.5KSF in the C|303 industrial park, which accounts for an entire building on the campus developed by Merit Partners, First Industrial Realty Trust and Diamond Realty Investments. C|303 is located at the NWC of Camelback Road and Loop 303 in Glendale. Leasing for the site is managed by Anthony Lydon, Marc Hertzberg and Riley Gilbert with JLL.
11. Transwestern brokered the sublease of a 70KSF office space in Scottsdale from WWEX Group to Open Network Exchange. WWEX Group subsidiary GlobalTranz was the previous occupant. ONE was represented by Cushman & Wakefield.
12. Laurel Lewis and Dylan Whitwer of NAI Horizon represented tenant Exhibitus, Inc. in a 42.5KSF industrial lease in Surprise. The landlord, Cactus Mac 1, LLC, was represented by Rob Martenson and Same Jones with Colliers.
13. Applied Systems Engineering, Inc. leased 37.1KSF of industrial space at Tucson International Business Center in Tucson, from Pegasus Properties, LP. Stephen D. Cohen with Cushman & Wakefield | PICOR represented the landlord. Christopher Irvin with Mark Irvin Commercial Real Estate Services, LLC, represented the tenant.
14. Mark Wilcke and Michael Gaida with NAI Horizon represented the tenant, Sports and Fitness Exchange Legacy, LLC in a 21.3KSF industrial lease in Phoenix. The landlord, Grillnetics Outdoor Kitchen Manufacturers, was represented by Gary Anderson with Cushman & Wakefield.
15. Isy Sonabend and Drew Eisen of NAI Horizon represented the landlord, MasTeck Network Solutions, LLC, in a 20.6KSF industrial sub-lease in Gilbert. SemiTorr Group, LLC, the tenant, was represented by Mike Parker with CBRE.
16. Dylan Whitwer and Don Morrow of NAI Horizon represented the tenant, Preferred Home Care, in a 17.3KSF industrial lease in Tucson. The landlord was represented by Tara Kernen with Cushman & Wakefield | PICOR.