Sales Transactions
1. San Valiente Luxury Homes, a 604-unit apartment complex at 2220 W. Mission Lane in Phoenix, was sold for $142.3M. Brookfield Properties was the buyer and Blackstone was the seller.
2. Karney Properties purchased the 400KSF warehouse leased by Home Depot at 7200 W. Buckeye Road in Buckeye near Interstate 10 and Loop 202. Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt advised the seller, Cohen Asset Management, in the $69.6M transaction.
3. An entity tracing to ABW Realty purchased the 96-unit Truewood by Merrill Scottsdale, located at 9185 E. Desert Cove Ave. in Scottsdale. The assisted living and memory care facility was sold by an entity traced to ReNew REIT for nearly $6M. Marcus & Millichap Capital Corp. arranged $4.2M in financing on behalf of the buyer.
4. Avanti Properties purchased approximately 399 acres near SR 83 and Interstate 10, within Tucson’s Vail School District. Avanti purchased the land from the Khan Family for $4.5M. Land Advisors Organization’s Will White and John Carroll handled the transaction and will be handling the marketing assignment of the property. Voyager Properties’ Mark Voigt and David Rogers are planning and managing Avanti’s projects, such as Ocotillo Ridge.
5. A&M Properties Enterprises, LLC purchased a two-tenant commercial investment property at 19425 W. Indian School Road in Buckeye. A&M was represented by ORION Investment Real Estate’s Nick Miner in the $3.1M transaction. Bobbie Mastracci of Phoenix West Commercial represented the seller, Equitable Investors and Advisors, LLC. The property is currently occupied by tenants Anthem Coffee and Taco Chilangos.
6. Heatherwood Plaza at 13631 N. 59th Ave. in Glendale was recently sold by BRLS Properties AZ-Glendale LLC to an undisclosed investor. Colliers’ Mindy Korth, JK Jackson, Kristina Remon, El Warner and Caitlin Zirpolo handled the transaction. The buyer was represented by Matthews Real Estate Services’ Trevor Von Behren and Alex DeSoto. The 79% leased shopping center contains approximately 22.1KSF of leasable space and was sold for an undisclosed amount.
7. Cushman & Wakefield brokered the sale of a 109.7KSF industrial building in Phoenix’s Sky Harbor Airport submarket at 3405 S. 5th St. Dalfen Industrial acquired the single-tenant asset. Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt represented the seller. C&W’s Andy Markham, Mike Haenel, Phil Haenel and Foster Bundy represented the landlord in negotiating a lease extension with the tenant. The price of the transaction was undisclosed.
Lease Transactions
8. Kidder Mathews has arranged the lease of Safeway at Merrill Ranch, a 57.9KSF property located at 3325 N. Hunt Hwy. in Florence at the corner of North Hunt Highway and Merrill Ranch Parkway. Kidder Mathews’ Jenette Bennett and Jeff Brown represented the owner in a long-term, absolute triple-net lease.