GLENDALE, ARIZ. – Brookwood Commerce Centre, a 209,182-square-foot office building in Glendale, has sold to United Realty MTA for $9.9 million. The mid-rise center is located at 4425 W. Olive Ave. It was built in 1974. Brookwood was 79 percent occupied at the time of sale. The seller, 4425 West Olive Holdings, was represented by DTZ’s Eric Wichterman and Mike Coover.
PHOENIX – Arizona DCS Office in Phoenix has sold to TH Stratman for $3.1 million. The space is located at 3310 and 3320 N. 19th Ave. The two-story office building is fully leased to the Arizona Department of Child Safety (DCS) through the end of 2021. The space was built in 1983. It was remodeled in 2011 and 2014. The seller, Fenway Properties, was represented by DTZ’s Eric Wichterman and Mike Coover.
TUCSON, ARIZ. – Sonora Quest Laboratories has renewed its lease for 2,393 square feet of office space in Tucson. The space is located at 1440 W. Valencia Road. The transaction was executed by Rick Kleiner and Tom Knox of Cushman & Wakefield | PICOR.
PHOENIX — Palm Glen Shopping Center, a 175,686-square-foot shopping center in Phoenix, has sold to Primestor Development for $14.3 million. The center is located at 3500 W. Glendale Ave. It is anchored by Food City. Notable tenants include Wells Fargo, Dollar Tree and Title Max. The center is set to undergo a renovation this year. The property was listed by Jason Gribin of Wilson Retail Group.
PHOENIX – The 468-unit Willow Springs Apartments in Phoenix has sold to Resort on 27th LLC for $13.2 million. The Class C community is located at 4715 N. 27th Ave. It was built in 1986. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers International’s HSK Multifamily Southwest Team represented both the buyer and seller, MLCFC 2007-7 North 27th Avenue LLC, in this transaction.
TEMPE, ARIZ. – A 350-unit self-storage facility in Tempe has sold to SmartStop Self Storage for $4.4 million. The facility is located at 3803 South Priest Drive. It is currently 89 percent leased. The property was built in 2005. It will be re-branded under the SmartStop Self Storage trade name.
PHOENIX – DLS Worldwide has leased 78,843 square feet of office space at a new speculative building in Phoenix. The third-party logistics provider will use the space for its new headquarters, light manufacturing, and as an assembly and distribution facility. It will be situated in Building B. Phase I of the Airport I-10 speculative project will contain 600,000 square feet. It is being developed by Wentworth Property Company and Clarion Partners. The developer was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall. DLS was represented by Mike Gordon of Cresa.
MESA, ARIZ. – Addictive Desert Designs has signed a three-year lease for two warehouse buildings in Mesa. The property is located at 308 S. Extension Road. It contains a 44,004-square-foot building and a 22,706-square-foot building. The off road truck and SUV design and parts manufacturer will be expanding from its nearby 40,000-square-foot warehouse. Matt McDougall and Matt Fredrick of Lee & Associates represented both Addictive Desert and the landlord, Presson Corp., in this transaction.
TUCSON, ARIZ. – Shops at Desert Springs, a 20,485-square-foot neighborhood retail center in Tucson, has sold to Bastion Investments for $5.3 million. The center is located at 7250 N. La Cholla Blvd. It is shadowed anchored by Albertsons. Other notable tenants include Christie’s Appliance, Edward Jones, L’Amour Nails, Great Clips, H&R Block, Casey’s Hallmark, Edmund Marquez Insurance, Papa Murphey’s Pizza and the Arizona National Guard. The seller was La Cholla Retail II LLC. The transaction was executed by CBRE’s Pete Villaescusa, Mike Sandahl, Jesse Peron, Wyatt Campbell, Phil Voorhees and Brad Rable.
PHOENIX — The P.B. Bell Companies has acquired The Boulevard, a 294-unit apartment community in north Phoenix, for $33.5 million. The community is located near Bell Road and 7th Street. The Boulevard was built in 1994. P.B. Bell plans to invest about $2 million in improvements to the property, which will include updates to the interior living areas and exterior common areas, as well as to the clubhouse, pool area, leasing office and outdoor common areas. Enhancements will also be made to the unit’s cabinets, lighting, flooring and countertops. The seller was Slavin Residential. The transaction was executed by CBRE’s Sean Cunningham and Tyler Anderson. Jim Pierson and Keaton Merrell of Legacy Capital Advisors also arranged a $26.8-million, non-recourse acquisition loan with Freddie Mac.
