PHOENIX – Metro Commons, a 17,755-square-foot retail center in Phoenix, has sold to Roseben MC LLC for $7.7 million. The Class A center is located at 3121 W. Peoria Ave. It is fully leased to tenants like Verizon, Smashburger, the Joint, Potbelly’s, Menchie’s, Mod Pizza and Yogi’s Grill. The seller, an entity formed by Jacor Partners, was represented by CBRE’s Andrew Fosberg, Cam Stanton, Chris Ackel and Molly Busch.
PHOENIX – Washington Business Park, a 139,196-square-foot business park in Phoenix, has sold to CAM-10 LLC for $11.1 million. The four-building park is located at 5324-5330 E. Washington Street. It was built in 1985. Washington Business Park is currently 72 percent leased. Tenants include Walgreens Drug Co., Arizona Department of Revenue and Quality Care Network, Inc. CAM-10 is an affiliate of Covington Asset Managemen LLC. The seller, BREOF AIP Phoenix, was represented by CBRE’s Barry Gabel and Chris Marchildon.
PHOENIX – The 280-unit Bella Place apartments in Phoenix has sold to an individual/personal trust for $7.7 million. The community is located at 2025 West Indian School Road. It was developed in 1973 by Lincoln Property Co. Community amenities include two swimming pools, a spa, two common barbecue areas and two on-site coin operated laundry facilities with new laundry equipment. The buyer was represented by Pete Te Kampe of Marcus & Millichap. The seller, Mentor Properties Inc., was represented by Cliff David and Steve Gebing of the same firm.
SCOTTSDALE, ARIZ. – Soilworks has signed a lease for Class A office space in Scottsdale. The dust control and soil stabilization provider plans to relocate its new world headquarters inside the space. The office will be located at 7580 N. Dobson Road. It is situated just east of the Loop 101 freeway, within Riverwalk Arizona. Soilworks was represented by JLL’s John Pierson and Trevor Pratt. The landlord, the Alter Group, was represented in-house by Justin Miller.
MESA, ARIZ. – The 126-room Country Inn & Suites Mesa has sold to KCS Investment for $10.9 million. The hotel is located at 6650 East Superstition Springs Blvd. It is situated at the crossroads of U.S. Route 60 and East Superstition Springs Boulevard, just five miles west of Phoenix-Mesa Gateway Airport. The Country Inn was built in 1998. Gordon Allred, David Greenberg and James Meng of Marcus & Millichap represented both the buyer and seller, Suites of Arizona, in this transaction.
MESA, ARIZ. – Phoenix Heart, the valley’s leading cardiology group, has purchased the Talavi Building in Mesa for $6.2 million. The 35,904-square-foot building is located at 5859 W. Talavi Blvd., within the Talavi Business Park. Phoenix Heart currently occupies half of the building. The remaining space is fully occupied by tenants like Credit Union West, John C. Lincoln and Wallick & Volk. Phoenix Heart was represented by Marcus Muirhead of Colliers International. The seller, Credit Union West, was represented by JLL’s Brian Ackerman.
PHOENIX – The 176-unit Indian Wells apartment complex near Phoenix has sold to Sonoma Valley LLC for $9.6 million. The community is located at 975 South Royal Palm Road. It was built in 2001. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers International’s HSK Multifamily Southwest Team, represented both the buyer and seller, CSFB 2004-C5 Apache Apartments, in this transaction.
MESA, ARIZ. — A joint venture between Domain Acquisitions and BH Equities has acquired the 472-unit Midtown on Main Apartments in Mesa for $35 million. The Class B community is located at 2121 West Main Street. Midtown is situated southeast of the Loop 101 and 202 interchange, and west of Dobson Road. It is located directly on the Metro Light Rail line that connects Mesa to Tempe, Sky Harbor International Airport and Metro Phoenix. Common-area amenities include a 10,000-square-foot recreation facility with indoor basketball and racquetball courts, three swimming pools, sand volleyball court, covered children’s play area and gas barbecue facilities. The seller was Bay Club Partners. The transaction was executed by Cindy and Brad Cooke of the Colliers Cooke Team.
TUCSON, ARIZ. — HSL Properties has acquired the 432-room Hilton El Conquistador Golf & Tennis Resort and the El Conquistador Country Club for a reported $15 million. The asset is situated on two separate parcels that total 383 acres. The resort was originally constructed in 1982 as a Sheraton hotel. The hotel was Tucson’s first major resort to include more than 250 rooms. It was repositioned as a Hilton hotel in 2003. The hotel features more than 100,000 square feet of indoor and outdoor event space, along with Tucson’s largest golf and tennis facility. The property contains 45 holes of golf and 31 hard-surface tennis courts. The transaction included 18 acres of developable land on Oracle Road. HSL plans to invest about $16 million to rehabilitate the hotel. This work should take about 12 to 18 months to complete. The majority of the rehabilitation will occur over the slower summer months, HSL says. The firm has also begun the process of splitting the resort’s country club and 45-hole golf course. The town of Oro Valley plans to purchase these assets in a sale that is expected to close March 1. The town will then turn the 31,475-square-foot club building into …
GLENDALE, ARIZ. – The 138-unit Glendale Shadows Apartments has sold to Terra Vista Investments USA for $4.9 million. The community is located at 5902 W. Royal Palm Road. It was built in 1975 and boasts a current occupancy rate of 93 percent. The seller, Monterey Group, was represented by Brett Polachek and Jim Crews of Cushman & Wakefield.
