Arizona

El Dorado Tech Center in Gilbert Sells for $18.6M

by Nellie Day June 23, 2015

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.

June 23, 2015

Arizona Industrial Western

Daifuku Renews, Expands at Chandler Tech Center

by Nellie Day June 18, 2015

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.

June 18, 2015

Arizona Multifamily Western

Mid-America Apartment Communities Buys SkySong Scottsdale Apartments

by Nellie Day June 17, 2015

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.

June 17, 2015

Arizona Industrial Uncategorized Western

DCT Industrial Trust Buys Distribution Building in Tempe

by Nellie Day June 16, 2015

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.

June 16, 2015

Arizona Retail Western

New Forever 21 Concept to Open at Tempe Marketplace

by Nellie Day June 16, 2015

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.

June 16, 2015

Arizona Hospitality Western

The Siegel Group Buys Legacy Suites Near Chandler

by Nellie Day June 15, 2015

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.

June 15, 2015

Arizona Industrial Western

Glendale Manufacturing Facility Sells for $5.7M

by Nellie Day June 15, 2015

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.

June 15, 2015

Arizona Retail Western

YAM Properties Acquires Village at Shea Retail Center for $32.5M

by Nellie Day June 12, 2015

PHOENIX — East Village at Shea LLC, a company formed by YAM Properties LLC, has purchased Village at Shea, a 117,025-square-foot retail center located in Scottsdale, for $32.5 million. Michael Hackett and Ryan Schubert, executive managing directors at DTZ, brokered the sale on behalf of the seller, Karlin Scottsdale Shea LLC. Village at Shea, anchored by Harkins Shea 14 Theatre, was 85 percent leased at the time of sale.

June 12, 2015

Arizona Office Western

Held Properties Buys Crossroads of Tempe for $17M

by Nellie Day June 11, 2015

TEMPE, ARIZ. – Held Properties has acquired Crossroads of Tempe, a 96,691-square-foot office complex, for $17.1 million. The Class A complex is located at 303 and 309 West Elliot Road in Tempe. Both buildings were constructed in 2008. Chris Tocci and Chad Littell of Cushman & Wakefield represented both the buyer and seller, Via West Properties and Southwest Value Partners, in this transaction.

June 11, 2015

Arizona Multifamily Western

Olympus Property Acquires Cactus Forty-2 in Phoenix

by Nellie Day June 11, 2015

PHOENIX – Olympus Property has purchased Cactus Forty-2, a 200-unit apartment community in Phoenix, for an undisclosed sum. The community is located at 4242 E. Cactus Road. Common-area amenities include a resort-style pool and spa, outdoor kitchen, a social gathering space with an outdoor fireplace, a newly designed clubhouse featuring a “living wall” and a fitness center complete with on-demand fitness classes. Cactus Forty-2 is the sixth property to be added to Olympus Property’s fourth fund, WW Olympus Property IV LLC. The investment structure will provide investors an opportunity to diversify among six to seven Class A, multifamily assets in strong markets throughout the United States.

June 11, 2015

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