Arizona

Phase1-Virgin-Industrial-Park-Glendale-AZ

GLENDALE, ARIZ. — IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale. Totaling more than 1 million square feet, Virgin Industrial Park Phase I features Building A, a 564,320-square-foot, cross-dock facility; Building B, a 212,160-square-foot, rear-loading asset; and Building C, a 243,360-square-foot, rear-load space. All buildings offer divisibility options down to 75,000 square feet. Buildings feature 32- to 36-foot clear heights, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70-foot speed bays and fully secured concrete truck courts. Make-ready improvements include speculative office space, LED lighting, warehouse HVAC and mechanical pit levelers. The project team includes Graycor Construction Co. as general contractor and Deutsch Architecture as project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing of the property. At full build-out, Virgin Industrial Park will add 1.5 million square feet of industrial space spread across five Class A buildings to metro Phoenix’s Loop 303 Corridor.

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PHOENIX — Cushman & Wakefield has arranged the sale of an industrial property, located at 2424 S. 21st St. in Phoenix. The 40,930-square-foot asset traded for $9.5 million. The names of the seller and buyer were not disclosed. Cushman & Wakefield’s Phoenix Industrial Private Capital Group handled the transaction.

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TUCSON, ARIZ. — Arizona Diagnostic Pathology Associates has acquired an office space at Rillito Crossing Corporate Centre in Tucson from Rale Offices LLC for $1 million. The 4,324-square-foot office space is located at 3987 E. Paradise Falls Drive. Jason Shaltiel of Cushman & Wakefield | PICOR represented the buyer, while Georgina Plante of RISING Real Estate Services represented the seller in the deal.

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Parc-Germann-Chandler-AZ

CHANDLER, ARIZ. — Libitzky Property Cos. has acquired Parc Germann, a two-building industrial campus in the Phoenix suburb of Chandler, for an undisclosed price. Built in 2020, Parc Germann offers a total of 224,471 square feet of Class A industrial space that was 100 percent leased to three tenants at the time of acquisition. Situated on 16 acres, Parc Germann features a 92,261-square-foot building at 2215 E. Germann Road and a 132,210-square-foot warehouse at 2225 E. Germann Road. The buildings feature 28-foot clear heights and the campus offers 62 dock-high doors, 14 drive-in doors, 262 parking spaces and ideal ingress/egress. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield National Industrial Advisory Group – Mountain West represented the undisclosed seller in the disposition.

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Ash-Business-Center-Tempe-AZ

TEMPE, ARIZ. — Newport Beach, Calif.-based BKM Capital Partners has purchased Ash Business Center, a nine-building, small-bay light industrial asset in Tempe, for $17.4 million. The name of the seller was not released. Located at 4666-5010 S. Ash Ave., the 89,728-square-foot Ash Business Center features 16 units averaging 5,608 square feet with 16- to 18-foot clear heights, 16 grade-level doors and ample parking.

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7300-E-Hampton-Ave-Mesa-AZ

MESA, ARIZ. — Austin, Texas-based KoMiCo Phoenix LLC, a company that offers semiconductor cleaning and coating services, has purchased a manufacturing facility at 7300 E. Hampton Ave. in Mesa. Tempe-based 7300 East Hampton LLC sold the property for $17.5 million. KoMiCo will redevelop the 125,000-square-foot facility into an advanced semiconductor equipment parts cleaning, coating and repair facility in the Superstition Springs area of the Southeast Valley. The facility, which is situated on 12.5 acres, is slated to be operational by 2026. Representing a more than $50 million in capital investments, the building will be KoMiCo’s third location in the United States and eighth globally. Rick Foss, Isy Sonabend and Drew Eisen of NAI Horizon represented the buyer, while Lee & Associates represented the seller in the transaction.

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2228-W-Guadalupe-Rd-Gilbert-AZ

GILBERT, ARIZ. — Sorrento Seven has purchased an industrial building located at 2228 W. Guadalupe Road in Gilbert, approximately 20 miles southeast of Phoenix. Simon Charitable Foundation sold the asset for $10.9 million. Moog Aerospace and Defense (NYSE: MOG.A/MOG.B) fully occupies the 34,132-square-foot facility, which was built in 2019. Brian Ackerman of Colliers handled the marketing and sale of the property.

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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.

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3200-E-Glenrosa-Ave-Phoenix-AZ

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.

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5120-W-Buckeye-Phoenix-AZ

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.

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