REBusinessOnline

Cohen Asset Management Sells Industrial Property in Metro Phoenix for $16M

CHANDLER, ARIZ. — Los Angeles-based Cohen Asset Management has completed the sale of Iridium @ Price Road Corridor, an industrial property in Chandler. Braintree, Mass.-based Bay Capital acquired the property for $16 million. Will Strong of Cushman & Wakefield Capital Markets led the company’s team that represented the seller in the deal. Constructed in 1986 and renovated in 2017, the 69,820-square-foot property is fully air conditioned, provides heavy power and has features a …

SVN Desert Commercial Brokers $1.3M Sale of Apartment Complex in Phoenix

PHOENIX — SVN Desert Commercial Advisors has arranged the sale of a multifamily community, located at 717 E. Roeser Road in Phoenix. Luis Melendez sold the property to Shashikant Jogani with Pro Residential Services for $1.3 million, or $67,500 per unit. The 16,000-square-foot property features 20 two-bedroom apartments with individual meters for electricity. The buyer plans to implement a light renovation program to the property. Danny Lee of SVN Desert Commercial represented the …

Heslin Holdings Acquires Former Safeway-Occupied Retail Property in Tucson for $2.5M

TUCSON, ARIZ. — Heslin Holdings has acquired a former grocery-anchored retail building, located at 5548 E. Grant Road in Tucson. Albertson’s sold the property for $2.5 million. The 35,000-square-foot property is situated on the southeast corner of Grant and Craycroft roads. Safeway formerly occupied the space. The company plans to invest $1.5 million in development and improvement efforts at the property, which is part of its larger plan to invest $75 million in retail properties over …

Orion Investment Negotiates $4M Sale of Retail Center in Phoenix

PHOENIX — Orion Investment Real Estate has arranged the sale of Campbell Shops at 24th, a retail center in Phoenix. Yuma-based Santa Fe Arms LLC sold the property to KCS Arizona for $4 million, or $466 per square foot. At the time of sale, the approximately 8,584-square-foot property was fully occupied. Tenants include 7-Eleven, Ye Old Pipe & Tobacco, Fit Optical and Noble Eatery. Ari Spiro and Sean Stutzman of Orion Investment represented the seller, while Larry Kush of Orion and …

Koll Co., Seera International Bank Sell 1 MSF Buckeye Logistics Center in Phoenix for $98.3M

PHOENIX — The Koll Co. and Seera International Bank have completed the sale of Buckeye Logistics Center, a distribution center located at 6835 W. Buckeye Road in Phoenix. An undisclosed buyer acquired the property for $98.3 million. Amazon occupies the 1 million-square-foot warehouse/distribution facility. Originally built as a 604,678-square-foot facility in 2007, Amazon has expanded the property to accommodate its growing clothing and soft goods inventory. The Koll Co. acquired the …

SVN Desert Commercial Arranges $1.1M Sale of Office Building in Phoenix

PHOENIX — SVN Desert Commercial has arranged the sale of an office building, located at 810 W. Bethany Home Road in Phoenix. Arizona Medical Association (ARMA) sold the property to a Katie Hess, founder of Lotuswei, for $1.1 million. ARMA was the only occupant and owner of the 15,304-square-foot building, which was built in 1970, until the sale. The seller plans to relocate, while the new owner plans to occupy the majority of the building with small spaces available for lease. Justin …

LevRose Commercial Arranges $5.1M Sale of 13,760 SF Shopping Center in Phoenix

PHOENIX — Scottsdale, Ariz.-based LevRose Commercial Real Estate has negotiated the sale of Sonoran Desert Village, a retail center located at 2805-2815 W. Carefree Highway in Phoenix. An undisclosed seller sold the property for $5.1 million, or $370 per square foot. The property features 13,760 square feet of retail space and ample parking. Mark Cassell and Trenton McCullough of LevRose Commercial represented the seller in the

NorthMarq Multifamily Brokers $38.5M Sale of Apartment Complex in Tempe, Arizona

TEMPE, ARIZ. — NorthMarq Multifamily has arranged the sale of Nines Apartments, located at Baseline and Rural roads in Tempe. Los Angeles-based Tides Equities LLC acquired the property from 3rd Ave Investments for $38.5 million. Built in 1974, Nines Apartments features 244 units in a mix of studio, one-, two- and three-bedroom layouts. The buyer plans to implement interior and exterior improvements to the property. Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq Multifamily …

Colliers Arranges $49M Sale of 352-Unit Apartment Community in Phoenix

PHOENIX — Colliers International has arranged the sale of Siena on Baseline, an apartment community located at 4520 E. Baseline Road in Phoenix. Dallas-based Knightvest Acquisitions acquired the property from Scottsdale, Ariz.-based P.B. Bell Companies for $49 million. Situated on 14 acres, the 22-building property features 352 apartments in a mix of one-, two- and three-bedroom layouts. Built in 1986, the community features a clubhouse, three swimming pools, spa, fitness center and pet …

Merced Capital, Restart Investments Sell 178,792 SF Office Building in Phoenix for $25.3M

PHOENIX — Minnetonka, Minn.-based Merced Capital and California-based Restart Investments have completed the sale of Camelback Arboleda, an office building located in Phoenix’s Camelback Corridor. Solana Beach, Calif.-based Fenway Capital Advisors acquired the property for $25.3 million. Brian Ackerman and Dennis Desmond of JLL represented the sellers in the deal. The four-story building features 178,792 square feet of office space. Additionally, the property is located adjacent to …

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