Commercial Real Estate Transactions 11-03-20

Sales Transactions 
1. A global real estate investor purchased a 110.7KSF industrial property at 225 S. 51st Street in the Phoenix Sky Harbor submarket for an undisclosed amount. Will Strong of Cushman & Wakefield represented the seller, CapRock Partners. The buyer represented itself. The property is currently fully leased by Greif, a global leader in industrial packaging products and services. 
2. Agave Center OR, LLC, an entity formed by CAMCO purchased the Agave Business Center, a 55.2KSF multi-tenant industrial/flex building at 8945 S. Harl Avenue, Tempe, for $8M. Mike Coover, Eric Wichterman, Will Strong, Greer Oliver and Phil Haenel with Cushman & Wakefield in Phoenix represented the seller, DIG Agave Center, LLC, an entity controlled by Dornin Investment Group. 
3. A limited liability company purchased Augusta Cove Apartments, a 45-unit apartment property at 2420-2844 W. Augusta Avenue, Phoenix, for $3.775M. Richard Butler and Sean Connolly with Marcus & Millichap’s Phoenix office procured the buyer and had the exclusive listing to market the property on behalf of the seller, an out-of-state family partnership. 
4. Williams County LLC & The Barth Family Trust purchased a 4.3KSF multi-tenant retail asset at 1662 W. Hunt Highway, San Tan Valley, for $2.3M. Chris Hollenbeck and Shane Carter with Cushman & Wakefield’s Phoenix office represented the seller, HH-Skyline PADS, LLC. 
5. Mid-Atlantic Equity Funding, LLC purchased a brand new Dollar General located at 5470 E. Littletown Road, Tucson, from DCM Development Company, LLC for $2M. Dave Hammack, Principal and Retail Specialist with Cushman & Wakefield | PICOR, represented the seller. Michael J. Bastin with Coldwell Banker Commercial Reliant Realty represented the buyer. 
Lease Transactions 
6. Crossdocking and Warehouse Systems, Inc. expanded their lease space with Nogales Property Management an additional 20KSF, totaling 75KSF of industrial warehouse space, located at 2050 Smokey Lane in Nogales. Jose Dabdoub, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant. 
7. Nail polish and cosmetics manufacturer VB Cosmetics leased 40KSF of space for its new corporate headquarters at the mixed-use Lotus Project in Chandler, where it plans to grow its headcount from 50 to 120 in the next three years. 
8. Boeckeler Instruments, Inc. renewed and expanded their lease with Brey Holdings, LLC for 15KSF of industrial space at Butterfield Business Park, 4650 S. Butterfield Drive, Tucson. Robert C. Glaser, SIOR, CCIM, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. 
9. Solidifi Title & Closing leased 12.7KSF at the Lofts at the District in north Scottsdale, an adaptive reuse project recently completed by George Oliver and Kootenay Holdings. Ryan Timpani and Nick Bialkowski of Jones Lang LaSalle Inc. represented George Oliver in the lease negotiations. Holly Ellis of West USA represented Solidifi.