PHOENIX — Atlanta-based RADCO Cos. has purchased Aloft Phoenix-Airport, a six-story hotel located at 4450 E. Washington St. in Phoenix. Terms of the transaction were not released. RADCO plans to renovate the 143-room hotel, which is located across the street from the airport Sky train station and the light rail station that provides immediate access to downtown Phoenix and Tempe. Bill Murney of Cushman & Wakefield’s Hospitality team in Phoenix represented the undisclosed seller in the deal.
GLENDALE, ARIZ. — Westcore has completed a $92.7 million acquisition of the 906,125-square-foot Hatcher Industrial Park from Ryan Cos. US. Westcore partnered with Ryan one year ago for the development of the property, and this transaction marks the completion of the project and sale. Located in Glendale, the two-building industrial campus includes a 519,167-square-foot facility at 15101 W. Hatcher Road and a 386,958-square-foot asset at 15151 W. Hatcher Road. The warehouses feature 40-foot clear heights, ESFR sprinklers, eight grade-level doors, 167 dock-high doors and ample parking, including electric vehicle parking. Westcore is building out speculative office suites, equipping the buildings with full HVAC, LED warehouse lighting and dock packages with 40,000-pound-capacity levelers. Ryan Cos. served as the developer and builder for Hatcher Industrial Park and Ryan A+E Inc. served as architect. Tony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL assisted with the transaction and are managing the leasing efforts for the property.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 9,363-square-foot retail space located at 1028, 1034, 1040, 1046 E. Broadway Blvd. and 18, 70 and 110 S. Fremont Ave. in Tucson. Wildcat Smoke Shop Inc. acquired the property from Belmont Brothers LLC for $1.2 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the seller, while Mark Hays of Tierra Antigua Realty represented the buyer in the deal.
GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Country Gables, a multifamily property in Glendale. Western Wealth Capital sold the asset to Dalan Management for $28 million, or $201,439 per unit. Completed in 1984, Country Gables features 139 one- and two-bedroom/two-bath apartments with walk-in closets, stackable or full-size washer/dryers, private patios or balconies with designated storage space and vaulted ceilings in second-story units. Community amenities include a swimming pool, laundry facility, covered parking and controlled access gated entry. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the transaction. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets’ team arranged acquisition financing on behalf of the buyer. The direct lender was not disclosed.
SCOTTSDALE, ARIZ., AND PHOENIX — MCR has purchased two hotels in the greater Phoenix area: Holiday Inn Express & Suites Scottsdale – Old Town and Hampton Inn by Hilton Phoenix-Biltmore. With this acquisition, MCR now owns nine hotels in Arizona. Located at 3131 N. Scottsdale Road in Scottsdale, Holiday Inn Express & Suites features 169 suites and is 1.5 miles from Fashion Square Mall. Hampton Inn Phoenix-Biltmore, located 2310 E. Highland Ave. in Phoenix, features 121 rooms. Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, MIG Real Estate, in the transaction. The sales price was not disclosed.
GOODYEAR, ARIZ. — Greenlight Communities has completed the disposition of Cabana Encanto, an attainable housing property located within the Palm Valley master-planned community in Goodyear. A partnership between Sunrise Multifamily and Ascent Equity Group acquired the asset for $61 million, or $213,287 per unit. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Situated on 8.8 acres, Cabana Encanto features 286 apartments with 9-foot ceilings, 8-foot keyless entry doors and front porches or patios. Community amenities include controlled access, a leasing office, clubhouse with social space, coworking booths with soundproof panels, a swimming pool, grilling stations, a multipurpose event lawn and Zen gardens.
PHOENIX — CBRE has arranged the sale of Proximity Baseline, a build-to-rent residential property located at 1700 E. Baseline Road in Phoenix. Avenue North sold the asset to CVG Properties for $27.2 million. The buyer plans to rename the asset The Linq @ South Mountain. The Linq @ South Mountain features 80 detached and duplex single-family residences in one-, two- or three-bedroom floor plans. The units offer 10- to 14-foot ceilings, stainless steel appliances, vinyl flooring and smart home technology. Additionally, each unit has a private backyard with a patio. Griffen Tymins, Sean Cunningham, Asher Gunter, Matt Pesch and Austin Groen of CBRE represented the seller in the off-market deal.
PHOENIX — Phoenix Commercial Advisors has arranged the sale of Plaza 32, a community shopping center located on 15.9 acres at the southeast corner of 32nd Street and Bell Road in Phoenix. An undisclosed buyer in a 1031 exchange acquired the asset for $31.3 million, or $181 per square foot. Esporta Fitness, Starbucks Coffee, Domino’s, Dollar Tree, UPS, Denny’s, Subway, Jimmy John’s, Harbor Freight Tools and Banner Urgent Care are tenants the eight-building, 173,303-square-foot property. The asset was 81 percent leased at the time of sale. Steven Underwood and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
TOLLESON, ARIZ. — Westcore has completed the disposition of an industrial property located at 8590 W. Jefferson St. in Tolleson, approximately 10 miles west of Phoenix. Texas-based Stonelake Capital Partners acquired the asset for $8.3 million. Situated on 4.4 acres, the building features 37,587 square feet of industrial space. At the time of sale, the property was fully leased to a Utah-based wholesale plumbing, waterworks, irrigation and industrial piping distributer. Phil Haenel, Foster Bundy and Will Strong of Cushman & Wakefield represented the seller in the deal. Mike Haenel and Andy Markham, also of Cushman & Wakefield, provided leasing advisory.
PHOENIX — CapRock Partners has completed Phase I of CapRock West 202 Logistics in Southwest Phoenix. The project spans 140 acres and 2.5 million square feet of Class A industrial warehouse space across five buildings. Colson Group USA has become the first tenant to sign a lease for 118,833 square feet of space. Josh Wyss with Cushman & Wakefield represented the tenant in the lease transaction. Payson MacWilliam and Don MacWilliam of Colliers International are leading the leasing efforts for CapRock West 202 Logistics.
