TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the acquisition of an industrial property at 3120 E. Medina Road in Tucson. Block “C” Properties LLC purchased the asset from GLRT Partners LLC for $3.8 million. Horizon Spa & Pool Parts occupies the 24,920-square-foot space. Stephen Cohen of Cushman & Wakefield | PICOR represented the buyer, while Gary Emerson of GRE Partners represented the seller in the deal.
PHOENIX — Baker Development has received zoning approval for AZUL, a 72-acre project on the former ON Semiconductor site at 52nd Street and Loop 202 in Phoenix. The site is now zoned for a wide variety of commercial and industrial uses, including corporate headquarters, advanced manufacturing, logistics, hospitals, hyperscales and other quantum computing users. Demolition of the former semiconductor factory is underway and scheduled for completion by fourth-quarter 2024. AZUL plans to develop up to 2 million square feet of corporate campus space on the site.
TOLLESON, ARIZ. — Evergreen Devco has sold Parc Tolleson, a 258-unit multifamily property located about 15 miles west of Phoenix. The sales price was $62.7 million. Completed in 2023, the garden-style community features one-, two- and three-bedroom units with an average size of 961 square feet. Residences features nine-foot ceilings, vinyl plank flooring and full-size washers and dryers. Amenities include a pool with fireplace lounges and poolside dining areas, electric vehicle charging stations, a pet spa, 24-hour fitness center and a clubhouse with gaming tables, seating areas and a coffee bar. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented Evergreen Devco in the transaction. Troy Tegeler and Trevor Breaux, also with CBRE, arranged acquisition financing on behalf of the buyer, Millburn & Co.
PEORIA, ARIZ. — NAI Horizon has brokered the sale of a 198,304-square-foot industrial facility located at 10857 N. 95th Ave. in Peoria, a northwestern suburb of Phoenix. An entity doing business as Glez C Properties LLC acquired the asset from Chris Finn for $9.5 million. Jeffrey Garza Walker of NAI Horizon represented the buyer in the transaction, while the seller was self-represented.
SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.
GLENDALE, ARIZ. — JLL has arranged an undisclosed amount of financing for Inspira Arrowhead, a newly constructed seniors housing property in Glendale. Inspira Arrowhead is a three-story building that spans 187,393 square feet and totals 165 units. The borrowers are funds managed by affiliates of Fortress Investment Group LLC and COGIR Senior Living. Alanna Ellis and Alex Sheaffer led the JLL team on the transaction. The direct lender was also not disclosed.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged $34 million in acquisition financing for Northsight Corporate Center, a 136,682-square-foot office property in Scottsdale. Completed earlier this year, Northsight Corporate Center features 45,000-square-foot flexible floor plates, a 5/1000 parking ratio, electric vehicle charging stations and an onsite restaurant. An investment management company fully occupies the three-story complex. Kristian Brown of Cushman & Wakefield arranged the financing, which consists of a $25 million loan and $9 million in preferred equity, on behalf of the borrower, Northern California-based Vertical Ventures.
PHOENIX — Stos Partners has sold a 94,186-square-foot industrial building located at 1002 S. 54th Ave. in Phoenix to ViaWest Group for an undisclosed price. Copper State Bolt & Nut Co. fully occupies the building, which was originally built on 4.2 acres in the early 1990s and most recently renovated in 2023. The property features 7,000 square feet of office space, 24-foot clear heights, 17 dock-high doors, two grade-level doors, a fenced and secured yard, LED lighting and ample parking. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield, along with Anna Josephson of KBC Advisors, represented the seller in the transaction. Mike Haenel and Andy Markham of Cushman & Wakefield also advised on the deal.
CHANDLER, ARIZ. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of North Chandler Place, a 198-unit seniors housing property located in the Phoenix suburb of Chandler. Built in 1966 on 15.2 acres and expanded in 2002 and 2007, the property consists of 119 independent living units, 16 assisted living units, 28 memory care residences and 35 skilled nursing residences. The seller was a group of investors that will reinvest the proceeds in other core assets in the portfolios. The buyer is a national, publicly traded company that plans to implement capital improvements. Both parties requested anonymity. Jason Punzel, Nick Cacciabando, Ryan Saul and Brad Goodsell of SLIB handled the transaction.
AVONDALE, ARIZ. — Berkadia has arranged the sale of Cottages at McDowell, a newly constructed, cottage-style build-to-rent community in the Phoenix suburb of Avondale. Arizona-based WS Avondale LLC sold the asset to Arizona-based CTAZ McDowell 117 LLC, an entity formed by Christopher Todd Capital, for $56.9 million, or $262,613 per unit. Located at 1350 N. 117th Ave., Cottages at McDowell features 217 one- and two-bedroom units with 10-foot ceilings, private backyards, stainless steel appliances, walk-in closets and detached garages. The community offers two swimming pools and a fitness center. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix led the transaction on behalf of the seller.