PHOENIX — LKQ Corp. has leased 46,054 square feet of additional space at Canal Crossing Logistics Center. The building is located at 5670 S. 32nd St. The company now occupies the entire 155,114-square-foot building. LKQ Corp. is an international provider of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks and recreational and performance vehicles. CBRE’s Mike Parker and Evan Koplan and Jacob Bobek of Avison Young represented LKQ. Jeff Conrad and Allen Lowe, principals with Lee & Associates represented the landlord, Bixby Land Co.
TEMPE, ARIZ. — The third annual InterFace On-Campus Housing conference began yesterday in Tempe at the Tempe Mission Palms hotel, near Arizona State University (ASU). Wednesday, more than 60 attendees toured four on-campus properties at ASU that American Campus Communities (ACC) developed or re-developed in a public-private partnership with the university. Vista Del Sol, which opened in 2008, features more than 1,800 beds and was developed by ACC, while Hassayampa Academic Village, which opened in 2006 and was developed by Machado and Silvetti + GouldEvans LLC, features more than 1,900 beds. Representatives from ACC and ASU, as well as construction firm Hardison Downey Construction, were on-hand to talk about the projects and answer questions. Thursday began with a breakfast and speed networking session, as well as the keynote speech by generational expert Michael Wood of 747 Group. Wood spoke about the upcoming Gen Z, what its members’ interests are, what they expect of authority and what they may prefer in housing after entering higher education. Sessions and panels continue today at the Tempe Mission Palms.
PHOENIX — BKM Capital Partners has purchased the Koll Cotton Center, a 225,435-square-foot industrial business park in Phoenix, for $26 million. The seven-building center is located one mile south of Phoenix Sky Harbor International Airport. It was 77 percent occupied at the time of sale. JLL’s Mark Detmer and Bo Mills represented the seller, Clarion Partners.
PHOENIX — An affiliate of Menlo Equities LLC has purchased the remaining three buildings of Thistle Landing office park in Phoenix for an undisclosed sum. The park is located at 4801, 4805 and 4811 E. Thistle Landing Drive. Thistle Landing includes four Class A office buildings. The park was built in 1998. Menlo had previously purchased the initial building. The park is fully leased to Fiserv Inc., United Healthcare, DISH Network and OptumRx. Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer of Cushman & Wakefield represented the seller, Torchlight Investors LLC.
PHOENIX — Cushman & Wakefield has arranged the $10.5 million sale of North Mountain Plaza, a 95,000-square-foot shopping center located in Phoenix. Dan Salley and Jack Wilson of Cushman & Wakefield represented the buyer, Pivot Development LLC, and Cam Stanton of CBRE represented the seller, CT Retail Properties Finance IV LLC, in the transaction. Fry’s grocery store anchors the center, which is 82 percent occupied.
TUCSON, ARIZ. — Harsch Investment Properties has purchased an office and flex industrial portfolio in Tucson for an undisclosed sum. The portfolio includes two buildings that total 190,000 square feet. The acquisition consists of the 60,000-square-foot Butterfield Corporate Plaza office/R&D flex property and the Tucson Airport Center, a 130,000-square-foot project with office and industrial tenants. Both properties are situated near Tucson International Airport and Interstate 10. CBRE’s Bill DiVito and Jesse Blum acted as the leasing agents for both properties. The seller was not named.
CHANDLER, ARIZ. — TruAmerica Multifamily has purchased the 290-unit Trevi apartments in Chandler for $47.5 million. The Class A community is located at 635 S. Ellis Street. Trevi was built in 2005. It is currently 97 percent occupied. TruAmerica leveraged the acquisition with $34.2 million in agency debt financing secured through Berkeley Point Capital. Mitch Clarfield originated the loan. This is TruAmerica’s second acquisition in the Greater Phoenix area. The purchase was made in partnership with an institutional investor. The seller was Alliance Residential Company.
CHANDLER, ARIZ. — Cohen Asset Management has purchased a 104,352-square-foot manufacturing and distribution building in Chandler for $9.4 million. The building is located at 464 E. Chilton Drive. It was built in 2000. The space is fully leased to Phoenix Packaging LLC. JLL’s Steve Larsen and Bill Honsaker represented both the buyer and seller, GP Investments LLC, in this transaction.
SCOTTSDALE, ARIZ. — Progress Residential has leased 34,558 square feet of office space at Riverwalk Arizona in Scottsdale. The space is located at 7580 N. Dobson Road. Riverwalk Arizona will eventually include about 1.5 million square feet of corporate office and retail space. Progress Residential is one of the largest providers of single-family rental homes in the United States. Matthew Coxhead of Savills Studley represented Progress in the lease. Kurt W. Rosene of Novo Development represented the landlord, the Alter Group.
TEMPE, ARIZ. — Legacy Partners Residential has received city approval for the development of University Village 2.0, a new $60 million mixed-use, 775-bed student housing community near Arizona State University in Tempe. Located directly adjacent to Tempe’s light rail line, University Village 2.0 will replace a 1960s-era student housing complex, which will be demolished. KTGY is the project’s designer and architect. University Village 2.0 will feature 260 units and include studio, one-, two- and four-bedroom units. The community will also include 1,800 square feet of ground-level retail space. The units will range in size from 445 square feet to approximately 1,400 square feet and feature high-end finishes, stone countertops, stainless steel kitchen appliances, vinyl wood-plank flooring and in-unit washers and dryers. The majority of the units will feature the four-bedroom floor plans. The development will include multiple indoor and outdoor amenities, including a resort-style pool with beach entry, outdoor jumbo TV, sand volleyball court, fitness center and clubroom spaces. University Village 2.0 will consist of a single, five-story apartment building wrapped around two central courtyards and a parking garage. Legacy Partners plans to start demolition and construction on University Village 2.0 by summer 2016, and open for the fall 2018 semester.