Sales Transactions
1. Marcus & Millichap announced the $80M sale of Alta Cooley Station, a 248-unit apartment complex in Gilbert. Steve Gebing and Cliff David of Marcus & Millichap represented seller Wood Partners and procured the undisclosed buyer.
2. Palm Valley Pavilions West, a nearly 233KSF shopping center in Goodyear, sold for $59M. The shopping center includes Best Buy, Total Wine, Ross, Barnes & Noble and Ulta. The seller was DRA Advisors and the buyer was McDowell Litchfield Plaza LLC.
3. Banner Health – UMC sold three medical offices in Tucson to The VanBarton Group for a total of $19.5M. The locations and prices include:
- University of Arizona Cancer Center, $10M;
- Banner Multispecialty Clinic at Ina Road, $7.1M, and,
- Banner Multispecialty Clinic at 22nd Street, $2.4M.
4. Cashen Realty Advisors announced the sale of a 28-acre farmland property to developer Dominium for $11M. Dominium plans to build a 384-unit apartment complex called Juniper Square and a 221-unit senior living facility called Sixty-Seven Flats.
5. A retail building on 6950 W. Bell Road in Glendale sold for $9M. The property is nearly 39KSF and is fully occupied. Darren Pitts of Velocity Retail Group, Bob Crum of Ross Brown Partners, Inc. and Bo Breunig represented buyers Premier Commercial Properties, LLC and Breunig Bell Rd., LLC.
6. Cushman & Wakefield advised the sale of MHS Magnolia, a 35.4KSF single-tenant industrial/flex complex in Phoenix for $7.14M. Chris Hollenbeck, Shane Carter, Tracy Cartledge and Bob Buckley of Cushman & Wakefield represented the seller. The buyer was MHS Magnolia, LLC.
7. Beachcomber Campus Edge LLC purchased 901 N Apartments, a 22.2KSF investment property in Tucson. The 28-unit apartment property was purchased from 3011 Nine LLC for $4.35M. Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both parties.
8. Valley View Investors, Inc. sold a 118-acre residential development property in Florence for $2.75M. Brian Rosella of Kidder Mathews represented both buyer Contadino 2021 Irrevocable Trust and the seller.
9. Redwood Villa, Inc. purchased a 9.1KSF Dollar General Store in Marana from Scalzo-Ostermiller LP for $2.05M. Dave Hammack with Cushman & Wakefield | PICOR represented the seller. George L. Renz with Renz & Renz Investment & Commercial Brokerage represented the buyer.
10. Park Brokerage and Commercial Real Estate sold Westview Mobile Home Park for an undisclosed price. John Sheedy represented the seller and procured the buyer. Neither party was disclosed.
Lease Transactions
11. Raytheon, an RTX business, expanded to The Refinery at University of Arizona Tech Park at The Bridges. The expansion consists of approximately 14KSF and $6.5M in capital investment.
12. AB46 Investments, LLC, dba D2 Dispensary, leased 13.9KSF of retail space at San Francisco Square in Tucson, from The Machado Family Trust. Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. Cameron Lee with David Lee Real Estate Company represented the tenant.