GLENDALE, ARIZ. — DCL Investments LLC has acquired Arrowhead Lakes Marketplace, a 22,280-square-foot retail center in Glendale, for $6 million. The center is located at 20329 North 59th Ave. It is 92 percent leased. Arrowhead Lakes Marketplace is part of a larger shopping center anchored by Albertsons. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers International represented DCL. The seller represented itself in this transaction.
PHOENIX — Bixby Land Co. has purchased the Tharco Freeport Distribution Center, a 108,287-square-foot industrial distribution center in Phoenix, for $8.1 million. The institutional-quality center is located at 640 S. 51st Ave. The building is fully leased to Tharco, one of the largest manufacturers and suppliers of unprinted corrugated stock boxes in the U.S. It was built in 1994. DTZ’s Will Strong, Mike Haenel, Andy Markham and Phil Haenel executed the transaction.
GLENDALE, ARIZ. — Colliers International has arranged the $6 million sale of Arrowhead Lakes Marketplace, a 22,280-square-foot grocery-anchored retail center located in Glendale. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers represented the buyer, DCL Investments LLC, in the transaction. The seller was self-represented. The center was 92 percent occupied at the time of sale.
PHOENIX — Lowe Enterprises Investors (LEI) has purchased three office buildings at the Phoenix Gateway Center office complex for an undisclosed sum. The properties are located in the North Airport/44th Street corridor area of Phoenix. The transaction included the 107,755-square-foot Gateway I; the 107,963-square-foot Gateway II; and the 221,885-square-foot Gateway III buildings. LEI plans to improve the properties’ common areas and public spaces. The overall occupancy at the buildings is 94 percent. Peter Morgan led LEI’s acquisition team. CBRE’s Barry Gable and Kevin Shannon represented the seller, a partnership of Pearlmark/Transwestern and Oaktree Capital.
PHOENIX — The 331-room Wigwam Resort in the Phoenix submarket of Litchfield Park has received a $29 million loan. The hotel is located at 300 E. Wigwam Blvd. The resort features 45,000 square feet of indoor meeting space, 55,000 square feet of outdoor meeting space, an Elizabeth Arden Spa, four food and beverage venues, four swimming pools and three 18-hole golf courses. JLL’s Dustin Stolly, Mike Huth and Aaron Niedermayer secured the floating-rate loan. East West Bank provided the funds to JDM Holdings.
PHOENIX – A 2,654-square-foot space in Phoenix that is leased to Jack in the Box has sold to JIB BIT LLC for $2.2 million. The fast food restaurant is located at 2113 W. Happy Valley Road. The LLC was represented by Jim Casale of Lee & Associates’ San Diego office. The seller, Stine Development, was represented by Joe Caputo of Trivanta.
SCOTTSDALE, ARIZ. — DTZ has arranged the sale of The Summit at Scottsdale, a 190,408-square-foot shopping center located in Scottsdale, for $54.1 million. Safeway and Target anchor the center. Ryan Schubert, Michael Hackett and Dan Wald of DTZ worked on behalf of the seller. The center was 97 percent leased at the time of sale to tenants including CVS/pharmacy, Office Max, PetSmart, Starbucks Coffee, Bath & Body Works, Verizon Wireless and Chico’s.
PEORIA, ARIZ — Heritage Communities of Omaha, Neb., has announced its plans to develop the company’s third seniors housing community in the Phoenix metro area: Orchard Pointe at Terrazza. Working in partnership with Telis Commercial Real Estate of Phoenix, the $22 million project will be located in Peoria as part of the Terrazza mixed-use development. When completed, Orchard Pointe at Terrazza will feature 118 units: 40 independent living, 56 assisted living and 22 memory care. Reece Angel Rowe, the architect for Heritage Communities’ other Phoenix properties, will also design this third location. Construction on the new project is slated to begin in 2016 with a projected open date in 2017. Heritage Communities’ first project in Arizona, Orchard Pointe, is located in Surprise. Opening in 2013, the community serves nearly 100 residents. Construction on Orchard Pointe at Arrowhead — Heritage’s second Phoenix-area community — is scheduled to begin this month in Glendale. Established in 2001, Heritage Communities owns and operates 10 senior living communities throughout Nebraska, Iowa and Arizona.
PHOENIX – The 44th and McDowell Hotel Group LLC has purchased the 228-unit Holiday Inn Hotels & Suites Phoenix Airport North for an undisclosed sum. The hotel is located at 1515 N. 44th Street. The property underwent an $11 million conversion to Holiday Inn & Suites in 2011. It is situated just two miles from Phoenix Sky Harbor Airport. The seller, Jordan Hotels LLC, was represented by Bill Murney of HREC Investment Advisors’ Phoenix office.
SCOTTSDALE, ARIZ. – Cypress West Partners has purchased Scottsdale at Mescal, a 48,457-square-foot medical office building, for an undisclosed sum. The garden-style complex is located at 10900 N. Scottsdale Road. It is anchored by Honor Health, formerly known as Scottsdale Health. Cypress’ joint venture partner on this acquisition was MedProperties Holdings LLC.
