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    Home » Commercial Real Estate » Commercial Real Estate News 12-19-23
    Commercial Real Estate

    Commercial Real Estate News 12-19-23

    BEX StaffBy BEX StaffDecember 19, 2023No Comments3 Mins Read
    10. One Compass Center;. Credit: JLL
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    Sales Transactions

    1. Patrick Burch of ABI Multifamily represented the seller in a $7.65M, 9.81-acre land deal at 29th Avenue and Dove Valley Road in north Phoenix. Neither the buyer nor seller were disclosed.

    2. Jeffrey Garza Walker of NAI Horizon negotiated the $7.13M sale of a 120KSF retail building at 7611 W. Thomas Road in Phoenix, representing buyer Club Capri Real Estate, LLC. The seller, Seritage SRC Finance, LLC, was represented by Trent Steeves with CBRE.

    3. CBRE’s Joe Compagno and Benjamin Farthing negotiated on behalf of the buyer, The Shipp Family, of former Salty’s for $3.65M in Old Town Scottsdale. The seller was Good Life Sports Bar and Grill.

    4. ABI Multifamily brokered on behalf of both the buyer and seller of McKemy a 12-unit multifamily apartment community for $3.25M in Tempe. Carson Griesemer, Dallin Hammond and Mitchell Drake of ABI were the representatives. Neither party was disclosed.

    5. Matt Harper of NAI Horizon negotiated the $2.5M sale of 1.63 acres in Glendale, representing seller EAA Investment Group, LLC. The buyer, Ultra Clean Intermediate, LLC, was represented by Brad Ranly with Velocity. 

    6. Lane Neville and Cole Neville of NAI Horizon negotiated the $2.3M sale of 4.716 acres in Goodyear, representing seller Marketplace Square at Estrella, LLC. The buyer, Estrella Mountain Lago, LLC, was self-represented.

    7. John Filli of NAI Horizon negotiated the $2M sale of 112.89 acres in Casa Grande, representing buyer Royal Estates at Corrales, LLC. The seller, James C. Soft of Audrey A. Hanks Irrevocable Trust, was represented by Rock Earle and Matt Herrington with Rox Commercial.

    8. Cushman & Wakefield advised the sale of 8140 S. Hardy, a nearly 62KSF industrial/flex office building in Tempe. Chris Toci, Erick Wichterman and Mike Coover of Cushman & Wakefield represented the seller, who was not disclosed. The buyer was Enzed LLC. No transaction value was provided.

    Lease Transactions

    9. PGW Auto Glass signed a full building lease in August for 138KSF in Glendale at Trammell Crow Company’s Park Aldea Phase II development. PGW has now opened a distribution center at the location, adding to its two smaller facilities in Mesa and Phoenix. The company’s site selection process was conducted in collaboration with CBRE.

    10. Kyle Seeger, Ryan Bartos and Jami Savage-Gray of JLL represented Peckham Inc. in the leasing of 136KSF at One Compass Center in Phoenix. Pat Boyle of Cushman and Wakefield represented the landlord, Menlo Equities. This was the largest office lease of 2023 so far.

    11. Hopewell Development secured two leases totaling nearly 100KSF industrial space at Cactus 101 Business Park in Peoria. LD Products Inc. leased 65KSF and Clopay Corp. leased 30KSF, leaving 45KSF of space left to lease. Melissa Marks, Brian Gleason, Bonnie Halley and Danny Schuster of Colliers represented Hopewell Development. Michael White of Savills represented LD Products, while Jeff Hays and Sam Rutledge of Commercial Properties Inc. represented Clopay.

    12. Vestar has announced two new leases at its Queen Creek Crossing retail development. Ashley Furniture Home Store will occupy 45KSF and open Dec. 15. Hobby Lobby will be located in a 55KSF space scheduled to open in March.

    13. Loloft Inc. signed a 12-year lease on a nearly 52KSF industrial space in Phoenix. Workspace Property Trust is the landlord. Loloft expects to open Q2 2024 to use the space for offices or warehousing.

    14. UBS has announced it will be increasing its real estate footprint in Phoenix. The firm will now occupy more than 24KSF of the Esplanade IV, located at 2575 E. Camelback Road. The difference between the new and previous spaces was not provided.

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