REBusinessOnline

Cushman & Wakefield Brokers $17.4M Sale of Chauncey Lane Marketplace Office/Retail Property in Scottsdale

SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Chauncey Lane Marketplace, a mixed-use development in north Scottsdale. Los Angeles-based Ronal LLC acquired the asset from Chauncey Retail Partners for $17.4 million.Located at 17757 and 17767 N. Scottsdale Road, the property features 34,963 square feet of office and retail space. Current tenants include a breakfast diner, cocktail lounge, salon/spa, financial advisory offices, a law firm, residential development firm …

MG Properties Group Acquires Centra Apartments in Midtown Phoenix for $74.5M

PHOENIX — San Diego-based MG Properties Group has purchased Centra, a multifamily property located in midtown Phoenix, from FORE Property for $74.5 million.Built in 2020, the five-story, podium-style property features 223 units and underwent a swift lease up.Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller. Brooks Benjamin of KeyBank arranged $43.1 million in acquisition financing for the

MIG Expands Portfolio with Four Acquisitions Across Arizona, California

MESA, PHOENIX AND SEDONA, ARIZ., AND OCEANSIDE, CALIF. — Newport Beach, Calif.-based MIG Real Estate has purchased four properties to expand its portfolio in Arizona and California.The properties are:Gateway Technology Commerce Center, a 138,692-square-foot industrial property at 7535 E. Ray Road in Mesa. The property is fully leased to six tenants. Steve Lindley, Eric Wichterman and Will Strong of Cushman & Wakefield represented the undisclosed seller, while Ken McQueen and …

GoodLife Housing Partners Sells Two Multifamily Properties in Tempe for $30.5M

TEMPE, ARIZ. — Los Angeles-based GoodLife Housing Partners has completed the disposition of two apartment communities located in Tempe. Capital Allocation Partners acquired the properties for $30.5 million, or $178,363 per unit.Both built in 1968, the properties are the 134-unit Sakara Tempe and the 36-unit Sakara Villas at Tempe. Units at the properties consist of a mix of one-, two- and three-bedroom layouts, with select units having new laminate kitchen countertops, wood-style vinyl …

Silver Creek Development Acquires 130,642 SF Office Building in Chandler, Arizona

CHANDLER, ARIZ. — Silver Creek Development has purchased Ascend at Chandler Airport Center, a Class A office property located on 11 acres at 1811 E. Northrop Blvd. in Chandler. An undisclosed seller sold the asset for $34.2 million.Build in 2016 and renovated in 2018, the two-story building features 130,642 square feet of office space. At the time of sale, the property was fully leased on a long-term basis as the corporate headquarters of Zovio, a technology services company.Chris …

High Street Residential Completes Construction of 160-Unit Gramercy Scottsdale Multifamily Project

SCOTTSDALE, ARIZ. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with Principal Real Estate Investors, has completed the development of Gramercy Scottsdale, an apartment community in downtown Scottsdale.Situated on two acres, the five-story, Class A property features 160 apartments in a mix of studio, one- and two-bedroom units and three-bedroom penthouses, ranging in size from 600 square feet to 1,650 square feet. Units offer high-end finishes, gas …

Decron Properties Purchases Multifamily Asset in Tempe for $64.7M

TEMPE, ARIZ. — Decron Properties has purchased 1221 Broadway, an apartment property located in North Tempe, for $64.7 million.Built in 2015, the community features 194 apartments in a mix of studio, one-, two- and three-bedroom layouts spread across 10 two- and three-story residential buildings. Averaging 940 square feet, the units include nine-foot ceilings, stainless steel appliances, granite countertops, custom cabinetry, full-size washers/dryers, wood-style vinyl flooring, walk-in …

Marcus & Millichap Brokers $2.2M Sale of Habit Burger Grill-Occupied Building in Phoenix

PHOENIX — Marcus & Millichap has arranged the sale of a restaurant property located at 745 E. Glendale Ave. in Phoenix. A limited liability company sold the asset to a personal trust for $2.2 million.Habit Burger Grill occupies the 1,891-square-foot building, which was built in 1973, on a net-lease basis.Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the

Marcus & Millichap Brokers $9.6M Sale of EoS Fitness-Occupied Property in Tempe

TEMPE, ARIZ. — Marcus & Millichap has arranged the sale of retail property located at 1727 W. Ranch Road in Tempe. MAR Group acquired the asset from a private preferred developer of EoS Fitness for $9.6 million.EoS Fitness occupies the 38,000-square-foot property under a net-lease agreement. Mark Thiel of Marcus & Millichap represented the seller and procured the buyer.Ryan Sarbinoff of Marcus & Millichap’s Phoenix office served as broker of

Taylor Street Advisors Arranges Sales of Three Multifamily Properties in Tucson

TUCSON, ARIZ. — Taylor Street Advisors has arranged the sales of three apartment communities located in Tucson.In the first transaction, an out-of-state investor acquired Fort Lowell Casitas, a 13-unit low-rise apartment building, for $1.5 million, or $116,153 per unit. The property features one- and two-bedroom units. Evan Plonis of Taylor Street Advisors represented the undisclosed seller.In the second deal, The 7th Ave Apartments sold for $990,000, or $66,000 per unit. The 15-unit …

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