Arizona

Link Senior Development, MedCore Partners Plan 202-Unit Seniors Housing Community in Buckeye, Arizona

by Amy Works August 24, 2021

BUCKEYE, ARIZ. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye. The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023. Insight Senior Living will manage the community, including oversight of all programs and resident services. This will be Insight’s third senior living project in Arizona. Ankrom Moison Architects designed the facility. Link and MedCore are collaborating on two other developments in Albuquerque, New Mexico and Tracy, California. The two firms previously worked together on the 2019 sale and acquisition of five senior living communities in Arizona and Utah.

August 24, 2021

Acquisitions Arizona Multifamily Western

Greystar Acquires 352-Unit Cordoba Apartment Community in Phoenix

by Amy Works August 24, 2021

PHOENIX — Charleston, South Carolina-based Greystar has purchased Cordoba, a multifamily property located at 4520 E. Baseline Road in Phoenix, from Dallas-based Cordoba Apartments LLC for an undisclosed price. Cindy Cooke, Brad Cooke, Matt Roach and Chris Roach of Colliers in Arizona handled the transaction. Originally built in 1986 and renovated in 2018 through 2020, Cordoba features 352 apartments in a mix of one-, two- and three-bedroom layouts, averaging 740 square feet. At the time of sale, the property was 99 percent leased. The buyer plans to continue value-add renovations at the property.

August 24, 2021

Acquisitions Arizona Industrial Western

SKB Acquires 106,892 SF Flex Industrial Building in Chandler, Arizona

by Amy Works August 23, 2021

CHANDLER, ARIZ. — ScanlanKemperBard (SKB) has purchased Chandler Business Center, a flex industrial property located at 6150 W. Chandler Blvd. in Chandler. Terms of the transaction were not released. Situated 15 miles south of the Phoenix Sky Harbor International Airport, the building features 106,892 square feet of industrial and flex space. At the time of sale, the asset was 100 percent leased.

August 23, 2021

Acquisitions Arizona Multifamily Western

WhiteHaven Capital Sells Canyon 35 Multifamily Property in Phoenix for $15.5M

by Amy Works August 23, 2021

PHOENIX — WhiteHaven Capital has completed the disposition of Canyon 35, an apartment community located at 4336 N. 35th Ave. in Phoenix. A Utah-based fund manager acquired the asset for $15.5 million. Built in 1986, Canyon 35 features 98 apartments, a leasing office, pool, covered parking, laundry facilities and gym. The seller completed a programmatic renovation on 97 of the 98 units during its three-year ownership of the property. Paul Bay and Darrell Moffitt of Marcus & Millichap handled the transaction.

August 23, 2021

Acquisitions Arizona Industrial Western

Mapleton Investments Acquires Industrial Property in Phoenix for $4.4M

by Amy Works August 20, 2021

PHOENIX — Mapleton Investments has purchased a freestanding industrial building located at 3269 E. Harbour Drive in Phoenix. Stephen M. Javinett Trust sold the asset for $4.4 million, or $150 per square foot. Situated within the Southbank Industrial Business Park, the property features 29,665 square feet of space. Constructed in 1989, the building features a 40/60 blend of office and warehouse space, 100 percent air conditioning, three grade-level doors, 1,000 amp, 277/480-volt power, 18-foot clear heights in the warehouse, moisture-abating industrial clerestory skylights, fenced rear yard and 96 parking spaces. Chris Toci and Chad Littell of Cushman & Wakefield’s Phoenix office represented the buyer, while Mike Parker of CBRE represented the seller in the deal.

August 20, 2021

Acquisitions Arizona Industrial Office Western

Colton Commercial Brokers $8.5M Sale of Two-Building Ace Asphalt Property in Phoenix

by Amy Works August 18, 2021

PHOENIX — Colton Commercial has arranged the sale of the Ace Asphalt facility, a two-building property located at 3030 S. 7th St. in Phoenix. OP 3030 7th Property acquired the asset from Aceland LLC for $8.5 million. Situated on 29.4 acres, the property includes a 27,682-square-foot office building and an 11,788-square-foot service building. Ace Asphalt will continue its current lease at the site. Dan Colton of Colton Commercial represented the seller, while Pat Harlan of JLL’s Phoenix office represented the buyer in deal.

August 18, 2021

Arizona Development Industrial Western

Baker Development to Build $150M Cactus 303 Industrial Park in Surprise, Arizona

by Amy Works August 17, 2021

SURPRISE, ARIZ. — Baker Development Corp. (BDC) has acquired an 81-acre land site for the development of Cactus 303, an industrial park in Surprise. BDC purchased the land, located on the northeast corner of Cactus Road and Loop 303, for $20 million. The $150 million project will feature approximately 1 million square feet of industrial space spread across seven Class A buildings. The project will also feature a retail component along the Cactus Road frontage, with retail pads ranging from 0.75 acres to 16 acres. The industrial buildings will range from 82,000 square feet to 378,000 square feet with all buildings offering flexible single- or multi-tenant configurations; 32-foot to 40-foot clear heights; dock-high and grade-level doors; up to 200-foot truck courts; and extensive, expandable auto and trailer parking. The site can also accommodate build-to-suit users of up to 600,000 square feet. Construction is scheduled to begin in early 2022, with the first phase slated for completion by year-end 2022. Butler Design is serving as architect and Layton Construction is serving as the general contractor. Cactus 303 is situated within the 3,300-acre Prasada master plan, which features single-family homes, a 180-acre auto mall and a 60-acre power center. Anthony Lydon, Marc …

August 17, 2021

Acquisitions Arizona Office Western

Cushman & Wakefield Brokers Sale of $39M Vacant Office Facility in Scottsdale, Arizona

by Kristin Harlow August 12, 2021

SCOTTSDALE, ARIZ. — Cushman & Wakefield has brokered the sale of a vacant corporate headquarters facility in Scottsdale for $39 million in an off-market transaction. The new owner, Dansons, will relocate from its current headquarters in central Phoenix to the two-story, 200,000-square-foot office building. Dansons, a privately held company with over 400 employees, is the maker and distributor of grills and smokers, including Pit Boss and Louisiana Grills. The building was formerly occupied by a Fortune 100 insurance company. Located at 8877 N. Gainey Center Drive, the building features multiple two-story lobby entrances, large open floor plates, mature landscaping, an onsite cafeteria and test kitchen, ample surface visitor parking, along with three levels of underground garage parking. The property provides convenient access to the Loop 101 freeway and enjoys an abundance of upscale amenities, retail services and entertainment venues in the Gainey Ranch area. Cushman & Wakefield’s Dave Carder and Scott Boardman represented Dansons in the transaction. Lee & Associates’ Fred Darche and Spencer Nast represented the private seller.

August 12, 2021

Arizona Office Western

George Oliver Completes Sale of $56.5M Office Complex in Phoenix

by Madison Pettway August 11, 2021

PHOENIX — George Oliver, a Phoenix-based developer, has completed the sale of CASA, a Class A office complex in Phoenix for $56.5 million. At $312 per square foot, the sales price sets a new record for the Piestewa Peak submarket. The buyer was Macquarie Asset Management. JLL’s Benjamin Geelan and Brian Ackerman represented George Oliver in the transaction. New office amenities include co-working suites, a dog park, dedicated food truck parking and shaded outdoor dining and lounge areas. A final lease-up initiative this summer brought the building to being fully committed, notably the new Mediacom headquarters relocation from North Carolina and new offices for D.R. Horton and CrossCountry Mortgage. George Oliver purchased CASA, formerly known as Catalina Terraces, in 2018.

August 11, 2021

Acquisitions Arizona Development Western

Cresset Real Estate Partners, Clarius Partners Acquire Land for 1.7 MSF Logistics Development in Arizona

by Madison Pettway August 11, 2021

GLENDALE, ARIZ. — Cresset Real Estate Partners and Clarius Partners have closed on the land acquisition for 303 Crossroads, a planned 1.7 million-square-foot logistics development in the Phoenix suburb of Glendale. The land price was not disclosed. The development will consist of two buildings to be built in two phases on land fronting Loop 303 and Northern Parkway. Building one will be 1 million square feet and is slated for completion in 2022. Building two will be 734,800 square feet and is slated for completion in 2023. The groundbreaking for the project is scheduled for this October. Both buildings will feature cross-dock configurations, a 40-foot clear height and above-market parking ratios. The buyers were represented in the transaction by CBRE.

August 11, 2021

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