Arizona

JLL Arranges $31.8M Sale of 266-Unit Apartment Community in Phoenix

by Amy Works February 6, 2019

PHOENIX — JLL has negotiated the sale of Sanctuary on 22nd, a multifamily community located in Phoenix. Laguna Point Properties sold the property to a private investor for $31.8 million. Built in 1985, Sanctuary on 22nd features 266 apartments in a mix of one- and two-bedroom layouts with an average unit size of 788 square feet. Each unit features an oversized patio and full-size washer and dryer, while select units offer a fireplace. On-site amenities include two swimming pools, a modern fitness center, clubhouse and business center. John Cunningham and Charles Steele of JLL’s Multifamily Capital Markets represented the seller in the deal.

February 6, 2019

Acquisitions Arizona Office Western

Helix Properties Purchases 81,922 SF Office Building in Phoenix for $8.5M

by Amy Works January 29, 2019

PHOENIX — Helix Properties LLC, on behalf of Next Gen 101 LLC, has purchased West 101 Corporate Center, an office property located at 1860 N. 95th Lane in Phoenix. Regent Properties sold the property for $8.5 million. Situated on a 230,432-square-foot lot, the three-story building features 81,922 square feet of Class A office space. Designed by DFD Architects, the property features 452 linear feet of Loop 101 frontage. At the time of acquisition, the property was 53 percent occupied. Chris Toci and Chad Littell of Cushman & Wakefield’s Phoenix office represented the seller in the transaction. The buyer is a single entity controlled by Helix.

January 29, 2019

Acquisitions Arizona Industrial Western

C&W|PICOR Negotiates $3.9M Acquisition of 44,736 SF Industrial Building in Tucson, Arizona

by Amy Works January 28, 2019

TUCSON, ARIZ. — Cushman & Wakefield|PICOR has arranged the purchase of an industrial property located at 4551-4571 S. Alvernon Way in Tucson. Walter & Sons LLC acquired the building from HS-Tucson AZ LLC for $3.9 million. Rite Way Heating, Cooling & Plumbing will occupy the 44,736-square-foot building. Russell Hall and Stephen Cohen of Cushman & Wakefield|PICOR represented the buyer, while William Di Vito of CBRE represented the seller in the transaction.

January 28, 2019

Acquisitions Arizona Industrial Western

Pacifica Real Estate Group Buys 125,896 SF Industrial Property in Mesa for $14.6M

by Amy Works January 25, 2019

MESA, ARIZ. — Santa Barbara, Calif.-based Pacifica Real Estate Group has acquired Pecos Gateway Business Park in Mesa from Mesa-based Boomerang Capital Partners for $14.6 million. Located at 8743 E. Pecos Road, the three-building, multi-tenant property features 125,896 square feet of industrial space. Built in 2008 and situated on 10.5 acres, the asset features 18-foot to 23-foot clear heights, 11 dock-high loading doors, 29 grade-level loading doors and suites ranging in size from 2,000 square feet to 17,500 square feet. At the time of sale, the property was 100 percent occupied. Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix office represented the seller in the deal.

January 25, 2019

Acquisitions Arizona Restaurant Retail Western

Orion Investment Real Estate Brokers $4.1M Sale of Restaurant Property in Yuma, Arizona

by Amy Works January 21, 2019

YUMA, ARIZ. — Orion Investment Real Estate has arranged the sale of a restaurant property, located at 590 E. 16th St. in Yuma. Edwards Corral LLC sold the property to an undisclosed buyer for $4.1 million, or $413 per square foot. Golden Corral Buffet & Grill has occupied the 10,015-square-foot property since mid-2004. Judi Butterworth of Orion represented the seller in the transaction.

January 21, 2019

Acquisitions Arizona Multifamily Western

MG Properties Acquires 429-Unit Sonoran Apartments in Arizona

by Amy Works January 17, 2019

PHOENIX — San Diego-based MG Properties Group has purchased Sonoran Apartments, a multifamily property located in Phoenix, for an undisclosed price. Built in 1995, the garden-style apartment community features 429 units in a mix of one-, two- and three-bedroom floor plans with well-appointed kitchens, walk-in closets, full-size washers/dryers and private patios or balconies. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE Phoenix represented the undisclosed seller, while Rocco Mandala of CBRE arranged financing for the acquisition.

January 17, 2019

Acquisitions Arizona Multifamily Western

IPA Negotiates $37.2M Sale of Multifamily Complex in Central Phoenix

by Amy Works January 17, 2019

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Monterra Apartment Homes, a multifamily community in central Phoenix. Weidner Apartments Homes sold the property to an institutional investment manager for $37.2 million, or $144,186 per unit. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Built in 2001, Monterra Apartment Homes features 258 apartments.

January 17, 2019

Arizona Development Office Western

Hines Opens 250,000 SF Offices at Chandler Viridian in Chandler, Arizona

by Amy Works January 16, 2019

CHANDLER, ARIZ. — Hines has officially opened the Offices at Chandler Viridian, a six-story, Class A office property located in at the intersection of Loop 101 and Loop 202 in Chandler. The 250,000-square-foot building features a large, open floorplan with 10-foot tall ceilings, a lounge and a large courtyard. In addition to the grand opening, Hines announced two tenants: Stantec will occupy approximately 51,000 square feet on the second and third floors, while Workuity will occupy 19,787 square feet on the first floor. Phoenix-based Whiting Turner served as the general contractor, while Minneapolis-based RSP Architects designed the building. Jerry Roberts and Patrick Boyle of Cushman & Wakefield have been retained to lead the leasing efforts for the office building. Hines developed the office building, which is the capstone of Chandler Viridian, in a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client. The 25-acre Chandler Viridian features a hotel, multifamily units, retail offerings, pedestrian promenades, a dog park, jogging trail and a large public plaza with high-speed internet and Wi-Fi.

January 16, 2019

Arizona Development Industrial Western

Andersen, Opus Break Ground on 550,000 SF Manufacturing Facility in Goodyear, Arizona

by Amy Works January 14, 2019

GOODYEAR, ARIZ. — Minnesota-based Andersen Corp., a window and door manufacturer, along with Opus Development Co., has broken ground on a manufacturing facility within Goodyear Crossing Industrial Park in Goodyear. Situated on 26 acres, the 550,000-square-foot facility will feature 21 truck bays on the east side of the building, four truck bays on the southeast corner, rail service by two lines and a front entrance with two stories of glass windows. As lead developer, designer and constructor, Opus expects the building shell to be completed in October, and Andersen aims to have the facility fully operational by first-quarter 2020. The project team includes Opus Development Co. as developer, Opus Design Build as design-builder and Opus AE Group as architect and structural engineer of record. Cushman & Wakefield represented Andersen, while JLL represented Opus in the lease deal.

January 14, 2019

Arizona Development Industrial Self-Storage Western

1784 Capital Holdings Breaks Ground on Gold Dust Self Storage in Scottsdale, Arizona

by Amy Works January 11, 2019

SCOTTSDALE, ARIZ. — Scottsdale-based 1784 Capital Holdings has broken ground on its Gold Dust Self Storage, located at 7245 E. Gold Dust Ave. in Scottsdale. Situated on a 2.1-acre former Macaroni Grill site, the facility will feature two above-ground floors and one below-ground floor totaling 117,567 gross square feet and 82,505 square feet of net rentable space. The high-end self-storage property will feature climate-controlled loading areas, hotel-style lobbies, conference rooms and play areas. The self-storage facility is slated to open at the end of 2019. TLW Construction is serving as general contractor for the project.

January 11, 2019

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