REBusinessOnline

Pasternack + Associates Developing $300M, 3.6 MSF Industrial Park in Phoenix

PHOENIX — Irwin G. Pasternack AIA + Associates PC (Pasternack + Associates) is developing TEN Distribution Center 1, a $300 million, 3.6 million-square-foot industrial park in Phoenix. Graycor Construction Co., serving as general contractor, has lifted and secured 68 of the 182 concrete panels that will make up the 1.1 million-square-foot first-phase building at the park. The concrete tilt panels are all prepared and cast on site by Graycor, which started roofing and fire sprinkler install …

Wood Partners Opens 223-Unit Alta Central Apartment Complex in Phoenix

PHOENIX — Wood Partners has celebrated the grand opening of its Alta Central, a multifamily community located at 4001 N. Central Ave. in Phoenix. Alta Central features 223 apartments in a mix of one-, two- and three-bedroom floor plans. Amenities include Amazon package lockers, electric car charging stations, complimentary Wi-Fi throughout the common areas and a lounge with a 13-foot television and NFL Sunday Ticket. Additional on-site amenities include a pool and spa with towel …

NKF Arranges $33.1M Sale of 177,312 SF Office Property in Phoenix

PHOENIX — NKF Capital Markets has brokered the sale of The Madison, an office property located at 5343 and 5353 S. 16th St. in Phoenix's Camelback Corridor. A joint venture between EverWest Real Estate Investors and CenterSquare Investment Management sold the asset to Admiral Capital Group for $33.1 million. Paul Jones, Kevin Shannon, Rick Stumm, Ken White, Brunson Howard and CJ Osbrink of NKF Capital Markets represented the seller, while the buyer was self-represented in the …

KeyBank Provides $35.3M Financing for Retail Center in Goodyear, Arizona

GOODYEAR, ARIZ. — KeyBank Real Estate Capital has provided a $35.3 million CMBS first-mortgage loan for Market at Estrella Falls, a retail center in Goodyear. The name of borrower was not released. Jacob Proctor of Key's Commercial Mortgage Group arranged the non-recourse, fixed-rate financing with a 10-year term, two-year interest-only period and a 30-year amortization schedule. The borrower used the loan to acquire the property, as well as an adjacent vacant lot for future …

Dhir Capital Acquires Shopping Center Near Phoenix for $7M

GOODYEAR, ARIZ. — Vancouver, Canada-based Dhir Capital has purchased Goodyear Central Marketplace, a neighborhood shopping center located at 13530-13650 W. Van Buren in Goodyear. 6601 Convoy Ct, an entity formed by CIRE Equity of San Diego, sold the property for $7 million. Chris Hollenbeck of Cushman & Wakefield Phoenix represented the seller in the deal. Built in 2006, the 61,146-square-foot property is occupied by 99 Cents Only, BPL Plasma, Hertz, a diner, a nail and day spa, and …

Harrison Street Acquires 318-Bed Residence Hall at Arizona State University Polytechnic for $27M

MESA, ARIZ. — Harrison Street Real Estate Capital has acquired Century Hall, a 318-bed residence hall located on the Arizona State University Polytechnic campus in Mesa, for $27 million. Built in 2012, the community is located at the heart of campus adjacent to the university's student union building, dining and recreational facilities. The property offers shared amenities including two multi-purpose rooms, a resident community kitchen, group study rooms, student activity lounges on each …

Kidder Mathews Brokers $4.4M Sale of Medical Offices in Tucson

TUCSON, ARIZ. — Kidder Mathews has arranged the purchase of Desert Sun Medical Center located at 7140 E. Rosewood St. in Tucson. Cypress West Realty Partners acquired the property for $4.4 million. The center features 15,038 square feet of medical office space. The seller was not disclosed. Fletcher Perry and Darren Tappen of Kidder Mathews represented the buyer in the off-market

IPA Brokers $60.5M Sale of 402-Unit Multifamily Property in Tempe, Arizona

TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Willow Creek, a value-add multifamily asset located in Tempe. Acacia Capital sold the property to JB Partners for $60.5 million, or $150,498 per unit. Constructed in 1984, the property features 402 apartment units, three swimming pools and a recently renovated clubhouse. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the

HSL Properties Acquires Two Multifamily Assets in Tucson for $37.4M

TUCSON, ARIZ. — HSL Properties has purchased two multifamily properties in Tucson from California-based MG Properties for $37.4 million. The company acquired Casas Lindas Apartment Homes, located at 699 W. Magee Road, for $17.6 million. The property features one- and two-bedroom floor plans with in-unit washers and dryers, wood-burning fireplaces and patios or balconies. On-site amenities include a basketball court, pool, fitness center, clubhouse and covered parking. HSL Properties …

Byrd Hotel Group Completes $20M Sale-Leaseback of Four Hotels in Metro Phoenix

GOODYEAR, ARIZ. — Byrd Hotel Group has completed the sale-leaseback of four hotel properties in Goodyear. Florida-based Kawa Capital Management acquired the properties for $20 million. The properties are the 90-room Red Lion Inn & Suites at 1313 N. Litchfield Road, the 110-guestroom Hampton Inn & Suites at 2000 N. Litchfield Road, the 100-key Holiday Inn & Suites at 1188 N. Dysart Road and the 78-suite Residence Inn at 2020 N. Litchfield Road. The four limited- and full-service …