TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 23-unit multifamily portfolio in Tucson. Plowden/Martin Properties LLC acquired the asset from Welsey James Krajicek Family Revocable Trust for $2.1 million. The portfolio includes Pima Apartments at 4238-4246 E. Pima St. and Lee Apartments at 4223-4245 E. Lee St. Allan Mendelsberg and C. Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.
PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has purchased MorningStar at Arcadia, a seniors housing property in Phoenix. Located at 3200 E. Glenrosa Ave., MorningStar at Arcadia features 78 assisted living suites across studio, one-bedroom and two-bedroom floorplans and 30 memory care suites. Community amenities include a fitness center, resident game room, outdoor seating area with fire pit, and resident dining room. The buyers plan to implement an improvement program including a cosmetic refresh to common areas, including the main entrance lobby, dining room, theater and other amenity spaces along the reconfiguration of smaller assisted living units to meet local demand for larger and more functional living spaces. Additionally, the buyers plan exterior painting and landscaping improvements. Aron Will and Michael Cregan of CBRE National Senior Housing arranged financing for the acquisition. The seller, price and other transaction details were not released.
PHOENIX — Gantry has arranged a $9.9 million permanent loan to facilitate the acquisition of an industrial building located at 5120 W. Buckeye Road in Phoenix. The 127,000-square-foot, multi-tenant warehouse features 30-foot clear heights and 30 loading docks, including four drive-in doors. At the time of financing, the property was fully leased by two tenants. Tim Storey and Chad Metzger of Gantry represented the borrower, a private real estate investor, in securing the seven-year loan from one of Gantry’s correspondent life company lenders. The loan features interest-only terms, prepayment flexibility and a fixed rate.
TUCSON, ARIZ. — Friends of Pima Animal Care Center has acquired 5,060 square feet of retail space at 2661 N. 1st Ave. in Tucson from Patrick Loop for $1.2 million. Kameron Norwood and Dave Hammack of Cushman & Wakefield | PICOR represented the seller, while Paula Valencia of RE/MAX Results Commercial represented the buyer in the transaction.
SCOTTSDALE, ARIZ. — Net Lease Office Properties has completed the sale of a single-tenant data center and office campus on Shea Boulevard in the Phoenix suburb of Scottsdale. Terms of the transaction were not released. Situated on more than 38 acres, the 354,888-square-foot asset serves as a mission-critical data and operations center for CVS. Peter Bauman and Tivon Moffitt of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
TEMPE, ARIZ. — Evergreen Devco has acquired 12.7 acres of land at the southeast corner of 48th Street and Alameda Drive in Tempe for $13 million. The company plans to develop 48th @ Alameda, an industrial project, on the site. The acquired parcel includes two sites: Jim Wilson of Cushman & Wakefield will list the project for sale or lease.
BUCKEYE, ARIZ. — MDH Partners has acquired KV Buckeye 10, a two-building industrial property located at 835 and 945 N. 215th Ave. in the Phoenix suburb of Buckeye, from Kentwood Ventures for $51 million. Situated on 18.8 acres, KV Buckeye 10 features 249,600 square feet of Class A industrial space spread across two buildings. Built in 2023, the asset feature 535 car parking spaces and 28-foot clear heights. Building A is 115,200 square feet and Building B is 134,400 square feet, with each building offering 12 truck-well doors and six grade-level doors. Currently KV Buckeye 10 is 60 percent leased to a variety of tenants, including the City of Buckeye; Hajoca, a privately held wholesale distributors of plumbing, heating and cooling, pool and industrial supplies; Safelite, a national automotive glass repair and replacement provider; and AVI, an international provider of communications and audio-visual technology. Greer Oliver and Connor Nebeker-Hay of JLL represented the seller in the deal. John Lydon, Hagen Hyatt and Kelly Royle of JLL are handling leasing for the project.
MESA, ARIZ. — SimonCRE has completed the sale of Mesa Ranch Plaza, a shopping center in Mesa. Mesa Ranch 24 LP acquired the asset for $26 million. Located at 1008, 1036, 1060 and 1142 E. Southern Ave., Mesa Ranch Plaza totals 130,000 square feet. At the time of sale, the property was 99 percent occupied. Alex Kozakov and Patrick Wade of CBRE’s South Bay Los Angeles office represented the buyer and seller in the transaction. Michael Hackett of CBRE served as the local market expert for the deal.
WHITE HILLS, ARIZ. — SRS Real Estate Partners Capital Markets has arranged the sales of two quick-service restaurants in White Hills for a total consideration of $7.5 million. The newly constructed, adjacent properties are occupied by Carl’s Jr. and Del Taco, both of which have 20-year, absolute triple-net leases in place. White Hills is located in the Mojave Desert, approximately 70 miles southeast of Las Vegas. The Carl’s Jr. property, located at 19360 U.S. Highway 93, sold for $3.8 million. The 2,586-square-foot asset was built in 2022. Located at 19312 U.S. Highway 93, the Del Taco asset sold for $3.7 million. The 2,304-square-foot property was built in 2023. Matthew Mousavi, Patrick Luther and Winston Guest of SRS Capital Markets represented the seller, a multi-unit franchisee. The properties were acquired by individual out-of-state 1031 buyers.
MESA, ARIZ. — PSRS has arranged $7.6 million in financing for the acquisition of Superstition Marketplace in Mesa. Built in 1988, Superstition Marketplace offers 54,837 rentable square feet. Current tenants include Dollar Tree, Jersey Mike’s Subs, State Farm Insurance and Thai House. Mike Davis and Tony Messiah of PSRS arranged the 10-year loan with a 30-year amortization schedule through one of its correspondent life insurance companies.