Sales Transactions
1. ViaWest Group has completed the sale of Central Logistics Center, a 24.9-acre industrial complex housing three Class A general industrial buildings and a cold storage building. Cushman & Wakefield’s Will Strong and Greer Oliver – along with Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE – represented ViaWest Group in the sale to Westcore.
2. Tower 16 Capital Partners has sold the 258-unit Sierra Vista and 201-unit La Mirada Apartments multifamily communities in Tucson for $65.15M to an undisclosed buyer. Tower 16 bought the properties approximately two years ago for $36M and invested $4.9M in renovations and improvements. The company was represented by Art Wadlund, Clint Wadlund and Hamid Panahi of Institutional Property Advisors.
3. Land Advisors Organization’s Healthcare Strategy Team of Laurie Sandau, Michele Pino and Michael Brinkley represented an out-of-state buyer in the $17.6M acquisition of Mariposa Point of Surprise, an assisted living/memory care facility in Surprise developed and owned by the McFarlin Group.
4. Cushman & Wakefield announced the firm has brokered the $9.2M sale of the 44.1KSF Goodyear Financial Center office building in Goodyear. The buyer was Goodyear Alliance, LLC. Eric Wichterman, Mike Coover, Steve Lindley, and Alexandra Loye with Cushman & Wakefield’s Private Capital and Capital Markets team represented the seller, Jokake Development Services.
5. Palm Vista Mobile Home Park in Tucson sold 106 mobile home spaces for $8.3M. Both seller GSWC Realty and buyer Palm Vista MHC, LLC (Comfort Communities) were represented by Wocky Redsar of WVR Realty, LLC.
6. The sale of 4750 S. 32nd Street in Phoenix – a freestanding building multi-tenant industrial property totaling 32.8KSF – was recently recorded. The property was sold to an investor from Phoenix. The sales price was $6.12M. Max Schumacher and Patrick Sheehan of Rein & Grossoehme Commercial Real Estate represented both the buyer and the seller.
7. Fore Properties has purchased the 8.4-acre site for its planned 261-unit Higley Apartments development at Higley Road and the US 60 in Gilbert for $5.1M.
8. Max Schumacher and Patrick Sheehan of Rein & Grossoehme Commercial Real Estate represented the seller in the recent $5.18M sale of three industrial properties in Phoenix. The properties were: 2926 W. Virginia Avenue (6.3KSF/$1M), 2940 W. Virginia Avenue/2939 W. Windsor Avenue (26KSF/$3.2M), and 3020 W. Windsor Avenue (8.2KSF/$980K).
9. Cushman & Wakefield announced the firm has brokered the sale of The Strip, a two-story, mixed-use, retail, and creative office property in Phoenix for $4.4M. The property was acquired by 4700 Alliance, LLC. Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye with Cushman & Wakefield’s Private Capital and Capital Markets teams in Phoenix represented the seller, Tortosa, LLC.
10. The $4.14M sale of two shell industrial warehouses totaling 24.2KSF at 18429-18477 S. 187th Place in Queen Creek was recently recorded. The buyer was an undisclosed entity based in Texas. David Bean and Cory Sposi of Commercial Properties, Inc. represented the seller. Max Schumacher and Patrick Sheehan of Rein & Grossoehme Commercial Real Estate represented the buyer.
11. The $3.8M sale of 4022 W. Broadway Road, a 5.22-acre contractor’s yard in Phoenix, was recently recorded. Max Schumacher and Patrick Sheehan of Rein & Grossoehme Commercial Real Estate represented the seller.
12. Both the sale and subsequent lease of 411 S. 33rd Avenue in Phoenix were recently recorded. The property is a 2.64-acre contractor’s yard with an 18KSF clear span distribution building. The property was sold to an investor for $3.75M. Max Schumacher and Patrick Sheehan of Rein & Grossoehme Commercial Real Estate represented both the buyer and seller.
13. Exclusivo Reception Hall, LLC has purchased the vacant 35.5KSF Bowlero bowling alley on West Indian School Road in Phoenix for $3.5M. The buyer was represented by Luis Montano of Planet Realty. Seller 7241 Indian School LLC was represented by Mark Rein & Larry Peters of Rein & Grossoehme Commercial Real Estate.
Lease Transactions
14. Virgin Galactic will occupy 130KSF in Bangar Three at Gateway Executive Park near Sossaman and Ray roads as a construction facility for final assembly of its six-person high-orbit passenger ships.