Arizona

DAUM Commercial Negotiates $8.2M Sale of 123,754 SF Industrial Building in Phoenix

by Amy Works June 14, 2019

PHOENIX — DAUM Commercial Real Estate Services has facilitated the sale of an industrial building located in Phoenix’s Southwest submarket. Exeter Property Group purchased the asset from David Turner International for $8.2 million in an off-market transaction. Situated on 7.2 acres at 4502 W. Monterosa St., the 123,754-square-foot property features an air-conditioned warehouse, six dock-high doors, two grade-level doors, ample parking and 24-foot clear heights. Trevor McKendry and Chris Rogers of DAUM represented the buyer and seller in the deal.

June 14, 2019

Acquisitions Arizona Multifamily Western

Pillar Communities Sells 315-Unit Apartment Community in Arizona for $67.8M

by Amy Works June 13, 2019

GILBERT, ARIZ. — Pillar Communities & Private Portfolio Group has completed the disposition of Pillar at SanTan, a garden-style apartment complex located at 2910 S. Greenfield Road in Gilbert. Baron Properties acquired the asset for $67.8 million. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix office represented the seller in the transaction. Constructed in 2009, Pillar at SanTan features 315 units in a mix of studio, one-, two- and three-bedroom floorplans with nine-foot ceilings, well-appointed kitchens and patios/balconies. Community amenities include a resort-style swimming pool, spa, poolside lounge, outdoor kitchen, fitness center, outdoor picnic areas, grills and a playground.

June 13, 2019

Acquisitions Arizona Multifamily Western

Baron Properties Sells 258-Unit Arcadia Apartments in Phoenix for $40.3M

by Amy Works June 12, 2019

PHOENIX — Arcadia 4127 Apts LLC, an entity formed by Denver-based Baron Properties, has completed the sale of Arcadia 4127 in Phoenix. HGI Acquisitions LLC, an entity formed by Norfolk, Va.-based Harbor Group International, purchased the multifamily asset for $40.3 million. Located at 4127 E. Indian School Road, Arcadia 4127 features 258 units in a mix of one- and two-bedroom floorplans, with an average size of 819 square feet. Each unit features quartz countertops, stainless steel appliances, hardwood-style flooring and undermount kitchen sinks. Select units offer views of Camelback Mountain. On-site amenities include two swimming pools, outdoor barbecue grills, a fire pit, fitness center, covered parking, gated access, laundry facilities and a dog park. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the transaction.

June 12, 2019

Acquisitions Arizona Development Multifamily Seniors Housing Western

Cadence Living Plans $46M Seniors Housing Community in Chandler, Arizona

by Amy Works June 11, 2019

CHANDLER, ARIZ. — Cadence Living has acquired 7.7 acres in Chandler, approximately 20 miles southeast of Phoenix, with plans to build a seniors housing community on the site. Named Cadence at Ocotillo, the community will offer 191 units of independent living, assisted living and memory care. Development costs for the 206,283-square-foot building are estimated at $46 million. Construction of Cadence at Ocotillo is slated to begin in the fall of this year. Partners on this project include Chandler-based Whitneybell Perry as the architect and locally based Drive Development Partners as construction manager. The company partnered with Global Senior Housing on the land acquisition. This will be Scottsdale-based Cadence’s fourth community in Arizona: Inspira Arrowhead in Glendale celebrated its grand opening on March 28, 2019. Inspira Arrowhead is in partnership with locally owned The PB Bell Companies and MT Builders. Acoya Mesa, opening in Summer 2019, is located adjacent to Granite Reef Park in Mesa and will feature 170 independent living, assisted living and memory care units. Acoya Scottsdale at Troon, which features views of Pinnacle Peak, is located in north Scottsdale. Cadence broke ground on the community in November 2018 and plans to open 135 luxury independent and assisted living …

June 11, 2019

Acquisitions Arizona Multifamily Western

MG Properties Group Buys 379-Unit Elevate at Discovery Park Apartments in Tempe, Arizona

by Amy Works June 11, 2019

TEMPE, ARIZ. — San Diego-based MG Properties Group has acquired Elevate at Discovery Park Apartments, formerly known as Villa Blanco, in Tempe for an undisclosed price. The low-density, garden-style apartment community features 379 units in a mix of one-, two and three-bedroom layouts. The community includes resort-style amenities and immediate access to the Loop 101 Freeway. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE represented the undisclosed seller, while Brian Eisendrath and Cameron Chalfant, also of CBRE, arranged financing for the buyer in the deal.

June 11, 2019

Acquisitions Arizona Retail Western

SRS Negotiates $13.8M Sale of El Super Shopping Center in Phoenix

by Amy Works June 3, 2019

PHOENIX — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of El Super Shopping Center, a retail property located at 2211 W. Camelback Road in Phoenix. Phoenix-based De Rito Partners and Van Tuyl Group sold the property to a West Coast-based private investor for $13.8 million. Built in 2017 and situated on 6.4 acres, the asset features 59,400 square feet of retail space. At the time of sale, the property was fully occupied by 11 tenants, including El Super and Subway. Patrick Luther and Ed Beeh of SRS represented the sellers, while Matthew Mousavi, also of SRS, represented the buyer in the deal.

June 3, 2019

Acquisitions Arizona Multifamily Western

Sunrise Luxury Living Sells 282-Unit Apartment Complex in Arizona for $80.4M

by Amy Works May 31, 2019

SCOTTSDALE, ARIZ. — Sunrise Luxury Living has completed the sale of The CORE, a newly built Class A multifamily property in Scottsdale. An undisclosed buyer acquired the 282-unit asset for $80.4 million. Situated on 4.5 acres at 15333 N. Hayden Road, the property features a mix of studio, one- and two-bedroom layouts with nine-foot ceilings, quartz countertops, Whirlpool stainless steel appliances and gas cooktops. Community amenities include a rooftop pool, modern fitness center with yoga/spin room, electric vehicle charging stations and a package locker system. The seller, who owned the land since 2015, completed construction The CORE in 2018. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE represented the seller in the deal.

May 31, 2019

Arizona Development Industrial Western

Graycor Delivers Final Phase of 10 West Logistics Center in Phoenix

by Amy Works May 29, 2019

PHOENIX — Graycor Construction Co. has completed the final phase of 10 West Logistics Center, a Class A industrial bulk distribution park in southwest Phoenix. Developed by New York Life Real Estate Investors, 10 West Logistics Center is a 1.3 million-square-foot, two-building distribution campus. Totaling 569,301 square feet, 10 West Logistics Center Phase II is the final building at the distribution park. Amazon has leased the entire building to use a fulfillment center. Graycor is managing all tenant improvement construction for Amazon. The first building, 10 West Logistics Center Phase I, features 660,000 square feet of Class A distribution space. Ozburn-Hessey Logistics occupies 43 percent of the first building. Located at the northwest corner of Van Buren Street and 59th Avenue, 10 West building amenities include 36-foot clear heights, dock-high and grade-level loading, 200-foot minimum truck courts, ESFR fire sprinklers, energy-efficient motion sensor lighting, a fenced and secured yard, and ample car and trailer parking. Additionally, the buildings are divisible down to 100,000 square feet, offering A-1 equivalent zoning and Foreign Trade Zone approved. Butler Design Group served as architect for the development. Wentworth Property Co. serves as the owner’s representation. Andy Markham, Mike Haenel, Will Strong and Phil Haenel …

May 29, 2019

Acquisitions Arizona Retail Western

Cushman & Wakefield Arranges $6.9M Sale of Two Walgreens-Occupied Assets in Metro Phoenix

by Amy Works May 23, 2019

PHOENIX AND SURPRISE, ARIZ. — Cushman & Wakefield has brokered the sales of two retail properties, located at 1840 W. Southern Ave. in Phoenix and 14285 W. Grand Ave. in Surprise. The properties were controlled by Grand Village CFI of Telluride, Colo. The two single-tenant properties, totaling 29,300 square feet, were 100 percent occupied by Walgreens at the time of sale. Rolling Hills Estates, Calif.-based Cove Capital acquired the 14,560-square-foot property in Phoenix for $4.6 million, while Urbandale, Iowa-based Midwest Alliance Partners purchased the 14,740-square-foot asset in Surprise for $2.2 million. Both properties are freestanding buildings with drive-thrus and corporate-guaranteed leases. Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

May 23, 2019

Arizona Loans Multifamily Western

NXT Capital Closes $21M Acquisition Loan for 174-Unit Apartment Community in Phoenix

by Amy Works May 22, 2019

PHOENIX — NXT Capital has closed a $21 million loan to finance the acquisition and renovation of Enclave at Paradise Valley, a Class B apartment community in Phoenix. Located 15 miles north of downtown Phoenix, Enclave at Paradise Valley features 174 apartments, a fitness center, clubhouse, business center, barbecue area with picnic tables, pool, hot tub and covered parking. Mark Schulder of BlueGate Partners’ New York City office placed the loan with NXT Capital.

May 22, 2019

Newer Posts

Older Posts