TEMPE, ARIZ. – Western Refining has expanded its lease at Papago Buttes Corporate Plaza in Tempe. The independent refining and marketing company will lease an additional 17,723 square feet at the office plaza, which is located at 1250 W. Washington Street. The company will take occupancy of the additional space this summer. Western Refining was represented by Larry Downey of Cushman & Wakefield of Arizona. The landlord was represented by Tony Hepner and Janet Ehrlich of Metro Commercial.
PHOENIX — Parallel Capital Partners has acquired One North Central, a 410,000-square-foot office tower in Phoenix, for $93.7 million. The Class A tower is located at 201 North Central Ave. Parallel Capital plans to invest more than $1.5 million to renovate and upgrade the property. This will include lobby modernizations, common-area upgrades, a new tenant lounge and spec suites. The tower was originally built in 2001. It has LEED-Silver certification. One North Central is currently 95 percent leased. Notable tenants include Ryley, Carlock and Applewhite, Arizona Summit Law School, Comerica Bank and the Bureau of Land Management. Parallel represented itself in the transaction. The seller was represented by Eastdil Secured. Parallel currently maintains a portfolio of 1.2 million square feet of office and retail space in Phoenix, including the City Square and Midtown regions.
PHOENIX — Realty Associates Fund X L.P. has purchased the White Star Portfolio, which contains nine industrial buildings throughout Phoenix, for $42.2 million. The buildings are all situated near Phoenix Sky Harbor International Airport. The portfolio features a total of 460,669 square feet of multi-tenant industrial space. It includes White Star Corporate Center at 2110 – 2140 S. 7th Ave.; Baseline Foothills at 4401 – 4409 E. Baseline Road; 3710 E. University Drive; and 2501 W. Phelps Road. The transaction was executed by JLL’s Mark Detmer and Bo Mills.
GILBERT, ARIZ. – El Dorado Tech Center, a 180,480-square-foot flex/back-office facility in Gilbert, has sold to a joint venture formed by Everest Holdings and Walton Street Capital for $18.6 million. The facility is located at 2299 W. Obispo Ave. It was built in 1998. GoDaddy has occupied about 118,000 square feet at the facility since 2005. The joint venture is called W-EH El Dorado Holdings JV VII LLC. DTZ’s Mike Haenel, Andy Markham, Will Strong, Paul Boyle, Rick Danis, Marc Tuite and Phil Haenel represented both the buyer and seller in this transaction.
CHANDLER, ARIZ. – Japanese material handling and automation solutions firm Daifuku has leased 30,247 square feet at Chandler Tech Center. The renewal allows the firm to expand its operations at the center, which is located at 7406 W. Detroit Street in Chandler. Daifuku was represented by Conner Lee and Marc Pierce of Lee & Associates. The landlord, Buchanan Street Partners, was represented by Jackie Orcutt and John Grady of Cushman & Wakefield.
SCOTTSDALE, ARIZ. — Mid-America Apartment Communities has acquired the 325-unit SkySong Scottsdale Apartments for $67.5 million. The community is located at 1301 N. Scottsdale Road. The purchase comes on the heels of the SkySong 3 debut, the newest office building within the 42-acre, mixed-use SkySong, the ASU Scottsdale Innovation Center development. The SkySong development team has also announced plans for a new restaurant facility along Scottsdale Road at SkySong Boulevard, while construction of SkySong 4 is expected to begin sometime this year. SkySong Scottsdale Apartments were developed by a joint venture between the ASU Foundation and USAA Real Estate Co.
TEMPE, ARIZ. – DCT Industrial Trust has acquired a 49,956-square-foot distribution center in Tempe for $3.3 million. The freestanding center is located at 402 W. Geneva Drive within Broadway Industrial Park. It is occupied by Wayne Dalton Garage Doors (dba NationServe). DTZ’s Will Strong, Mike Haenel and Andy Markham represented both the buyer and seller, West Geneva Building LLC, in this transaction.
TEMPE, ARIZ. – F21 red, the newest retail concept by Forever 21, will soon open at Tempe Marketplace. This will be the new iteration’s first store to open in Arizona. F21 red will debut inside a 13,000-square-foot space this fall. The F21 red brand will offer a larger merchandise selection and lower prices than the typical Forever 21 store. Tempe Marketplace is owned by Vestar.
CHANDLER, ARIZ. – The Siegel Group has purchased the 355-room Legacy Suites in Casa Grande for $8.3 million. The extended-stay hotel is located at 540 Cacheris Court. The Class A building was constructed in 2008. This was the firm’s first acquisition in Arizona. The seller, a large developer in Arizona, was represented by ABI Multifamily’s Rue Bax, Alon Shnitzer, Eddie Chang, John Kobierowski, and Doug Lazovick.
GLENDALE, ARIZ. – A 120,000-square-foot industrial manufacturing facility in Glendale has sold to AMERCO Real Estate Company for $5.7 million. AMERCO is a provider of real estate and development services for U-Haul. The facility is located at 6112 N. 56th Ave. AMFORM will occupy the building. It will allow the manufacturing division for U-Haul to triple in size from its present facility in Glendale. AMFORM plans to occupy building in about six months. David Wilson of Daum Phoenix represented both the buyer and the seller, American Park ‘n Swap, in this transaction.