Sales Transactions
1. Urban Communities S29, LP, an entity formed by Urban Communities of Phoenix, purchased Standard on 29th Apartments, a 357-unit multifamily housing community located near 29th St. and Indian School in Phoenix, for $30.05M. The NorthMarq Phoenix investment sales team of Trevor Koskovich, Bill Hahn and Jesse Hudson represented both the seller, The Standard-Phoenix LLC, an entity formed by SPL Real Estate, and the buyer.
2. Westmount Realty Capital announced the acquisition of 949 at the District, a 154-unit multifamily community located at 949 S. Longmore St., Mesa for an undisclosed price.
3. Cushman & Wakefield announced that Griffin Opportunities has sold Desert Gateway, a 172.8KSF two-building industrial project located at 909 W. Pinnacle Peak Parkway and 1000 W. Vista Bonita Drive in Phoenix, to Greenwood & McKenzie for $24.021M.
4. Blandford Homes is slated to pay $19.1M for 80 acres of land at Greenfield and Chandler Heights roads. The Town of Gilbert held an auction for the land with Blandford beating out bids from Taylor Morrison Homes and Zinke Dairy for the land.
5. Maracay, a wholly-owned company of the TRI Pointe Group, has closed on 75 premium homesites located inside the Sedella community at the NWC of Indian School and Citrus roads in Goodyear for $8.43M. The cash transaction did not require a broker as it was completed directly between Maracay and Meritage Homes.
6. Marcus & Millichap announced the $8.3M sale of S&T Plaza Apartments, a 72-unit apartment complex at 2130 W. Indian School Road, Phoenix. Rich Butler, a Senior Vice President Investments in Marcus & Millichap’s Phoenix office, negotiated the sale on behalf of the buyer, an out-of-state 1031 exchange client.
7. Marcus & Millichap announced the $4.15M sale of MacAllister Phoenix Apartments, a 24-unit apartment property at 2016 W. Orangewood Avenue, Phoenix. Rich Butler, a Senior Vice President Investments in Marcus & Millichap’s Phoenix office as well as Sean Connolly, a multi-family specialist negotiated the sale on behalf of both the seller and buyer.
8. A partnership between Carefree Buckeye 196, LLC and Boeing V LLC purchased 196 acres of commercial land at the SWC of Interstate 10 and Highway 85 in Buckeye for $3.65M. NAI Horizon Senior Vice President Lane Neville and Associate Logan Crum represented the seller, AZ Buckeye Investors, LLC. NAI Horizon Vice President Troy Giammarco and Associate Joe Pequeno represented the buyer.
9. EFSD Holding, LLC purchased 11KSF of office space at 7630 & 7632 N. Oracle Road, Tucson, from Rio Equity Group, LLC for $2.2M. Thomas J. Nieman, Principal and Office Specialist with Cushman & Wakefield | PICOR, represented the seller.
Lease Transactions
10. On behalf of Greenfiber, Cushman & Wakefield announced that the Charlotte-based energy-saving, smart insulation choice signed a 74KSF lease at Gateway Technology Commerce Center, 7535 E. Ray Road, Mesa. Pete Klees of Cushman & Wakefield’s Phoenix office represented Greenfiber. Brian Payne, Chris McClurg and Kenneth McQueen of Lee & Associate represented the landlord, GTCC Ventures, LLC, an entity formed by Orsett Properties.