Sales Transactions
1. Pillar Communities has paid $86M for Cuvee, a 310-unit apartment complex at 7200 N. 91st Ave. in Glendale. The seller was Fore Property Company.
2. In a $14.5M transaction, ViaWest Group sold the 10-story office building in downtown Phoenix that houses The Arizona Republic, azcentral.com and 12 News to Pivot 200 EVB LLC, an entity of StenTam.
3. Berkadia announced the sale of Sedona Real Inn & Suites, an 89-room hotel, in Sedona. Scott Hall, Aaron Lapping and Scott Spencer of Berkadia led the transaction on behalf of the seller, MIG Real Estate. Crystal Creek Capital was the buyer. The price was not disclosed.
Lease Transactions
4. Crest Insurance Group leased a 17KSF floor of the 100 Mill office building in Tempe. The new lease will double their office footprint, and the company plans to move from its Scottsdale location to the new building by fall of 2024. 100 Mill is now fully leased for all 287KSF.
5. Daiso USA has leased slightly more than 12KSF in the Arcadia Fiesta shopping center near Indian School and 32nd Street. The Japanese discount retailer will use the space for its fourth Phoenix location and plans to open Dec. 16.