RIO RIO, ARIZ. — Omega Produce Co. has completed the sale of an industrial space at 891 E. Frontage Road in Rio Rio. Grower Alliance Properties acquired the asset for $3.6 million. Jose Dabdoub of Cushman & Wakefield | PICOR represented the seller in the deal.
MESA, ARIZ. — Scottsdale, Ariz.-based Martens Development Co. has acquired a fully entitled, 44-acre industrial development site at the corner of Ellsworth and Willis roads in Mesa. Silver Creek Development sold the land for $19.1 million. The sale accounts for the first phase of the project and the second phase accounts for an additional 17 acres. In the first phase, Martens plans to build a seven-building 603,000-square-foot Class A industrial project known as The Brickyards. The buildings will range from 35,938 square feet to 259,554 square feet. The facilities will include heavy power, dock-high and grade-level loading, electric vehicle charging stations, innovative building designs, ESFR K-25 fire sprinklers and ample parking. Kirk Kuller, Phil Haenel and Will Strong of Cushman & Wakefield, in conjunction with CBRE’s Mark Krison and Luke Krison, represented the seller, while Pete Wentis and Kevin Cosca of CBRE represented the buyer in the transaction.
PHOENIX — ViaWest Group has acquired a single-tenant industrial building, located at 2727 W. Grovers Ave. in Phoenix’s Deer Valley submarket, for an undisclosed price. Gary Cornish and Geoffrey Turbow of CBRE handled the off-market transaction with the undisclosed seller. The 23,000-square-foot property features six dock-high trailer positions, four grade-level doors and 1.4 acres of gated outdoor yard space. A wholesale distributor of specialty building products currently occupies the building.
BUCKEYE, ARIZ. — A partnership between Tucson-based Holualoa Cos. and Phoenix-Countrywalk Community Developers has broken ground on Lanai, a multifamily property in Buckeye. Built over two phases, Lanai will feature 444 townhome-style residences. Designed by WORKSBUREAU, Lanai units will feature dormer windows, vaulted ceilings and living rooms with glass sliders to enable indoor-outdoor living. Ground-floor unit will feature semi-private front courtyards. Community amenities will include a pool and lounge area, splash pad, playground, outdoor fitness equipment and area, dog park and dog run.
QUEEN CREEK, ARIZ. — Plaza Cos. and Ryan Cos. have completed the disposition of Ironwood Medical Pavilion, located on the Banner Ironwood Medical Center campus in Queen Creek. Hammes Partners acquired the asset for $23.3 million. Plaza Cos. will remain a minority joint venture investor and will continue to provide leasing and property management services for the property. Completion in September 2019, the three-story Ironwood Medical Center features 60,000 square feet of medical office space. The facility is adjacent to the Banner Ironwood Medical Center, a 78-acre medical center campus at the southwest corner of Gantzel and Combs roads. Bill Cook and Margaret Lloyd of Plaza Cos. will lead leasing efforts, while Scott Rubin of Plaza Cos. will oversee property management of the facility.
TUCSON, ARIZ. — Greenlight Communities and MEB Management, as property manager, have opened Cabana Bridges, a multifamily community located at 1102 E. 36th St. in South Tucson. The 170,784-square-foot property features studio, one- and two-bedroom apartments. Community amenities include a 24/7 fitness center, outdoor fitness circuit, yoga yard, swimming pool, clubhouse, shared spaces, a community garden and electric vehicle charging stations.
Trez Capital Funds Construction Loan for 153,000 SF Hawes Commerce Park Industrial Project in Mesa, Arizona
MESA, ARIZ. — Trez Capital has closed a construction loan for Dale Cavan for the development of Hawes Commerce Park, an industrial project at the intersection of East Pecos and South Hawes roads in Mesa. Currently under construction, Hawes Commerce Park will feature 10 buildings with a combined 16 units and a total of 153,000 net rentable square feet. The property sits adjacent to Phoenix’s secondary airport, Phoenix-Mesa Gateway Airport. Completion is slated for third-quarter 2024.
PHOENIX — LPC Desert West, Lincoln Property’s Co.’s (LPC) Southwest division, has completed the sale of 3131 and 3133 Camelback office buildings in Phoenix to an entity of Presson Corp., led by local investor Daryl Burton, for $72.1 million. Barry Gabel, Chris Marchildon and C.J. Osbrink of Newmark represented the seller in the deal. LPC will retain leasing and management duties for the Class A buildings. Totaling 295,401 square feet, the project spans two adjacent multi-story office buildings at 3131 and 3133 E. Camelback Road. 3131 Camelback is a four-story, 196,332-square-foot building, and 3133 Camelback is a three-story, 99,069-square-foot facility. The property also features an onsite parking garage.
PHOENIX — Greenlight Communities has completed the disposition of Cabana Happy Valley, a multifamily community in Phoenix, to Ideal Capital Group for $79.2 million, or $271,404 per unit. Built in 2023 on nine acres, Cabana Happy Valley features 292 apartments with eight-foot keyless entry doors, European wood-style cabinetry, smart thermostats and full-size washers/dryers. Community amenities include a two-story leasing office and clubhouse, fitness center, lounge, coworking space, swimming pool, car charging stations, bike storage, mail room and covered parking. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.
GILBERT, ARIZ. — DAUM Commercial Real Estate Services has brokered the sale of an industrial building located at 1416 W. San Pedro St. in Gilbert. Sunstone Rover LLC sold the asset to a family-owned corporation for $5.5 million. With the sale, the building will become the headquarters of Swain Electric, a Gilbert-based electrical contractor. Dan Casey of the DAUM Commercial Phoenix represented the seller, while Blake Hardison of Ike Commercial Real Estate represented the buyer in the deal.