Arizona

Pinnacle South Mountain Apartments in Phoenix Sells for $63M

by Nellie Day January 14, 2015

PHOENIX — FPA Multifamily has purchased the 552-unit Pinnacle South Mountain apartment community in Phoenix for $63 million. The community is located at 5151 E. Guadalupe Road. Pinnacle is situated near the 16,000-acre South Mountain Park, which offers hiking and biking trails. It is also near the Ahwatukee Foothills Town Center. The community was developed in two phases in 1995 and 1997. Common-area amenities include four resort-style swimming pools with spas and poolside cabanas, two 24-hour fitness centers, a resident business center with conference room, sport courts, and barbecue and picnic areas. The seller was Essex Property Trust. The transaction was executed by Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch of CBRE’s Phoenix office.

January 14, 2015

Arizona Multifamily Western

The Brittany Apartment Complex in Mesa Sells for $3.1M

by Nellie Day January 13, 2015

MESA, ARIZ. – The Brittany apartment complex, a 92-unit multifamily property in Mesa, has sold to 29SC Brittany LLC for $3.1 million. The complex is located at 708 North Country Club. Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office represented both the buyer and seller, Pristine Estates LLC, in this transaction.

January 13, 2015

Arizona Retail Western

Weingarten Nostat Buys Scottsdale Horizon Shopping Center

by Nellie Day January 12, 2015

SCOTTSDALE, ARIZ. – Weingarten Nostat has acquired Scottsdale Horizon Shopping Center, a 154,766-square-foot neighborhood shopping center, for an undisclosed sum. The center is located at 14850 N. Frank Lloyd Wright Blvd. in Scottsdale. It was 95 percent leased at the time of sale. Notable tenants include Safeway, CVS Chase Bank, H&R Block, Supercuts, Jack in the Box, Massage Envy and Leslie’s Pools. The seller, CHC–Real Estate, was represented by DTZ’s Dan Wald, Michael Hackett and Ryan Schubert.

January 12, 2015

Arizona Retail Western

Fate Brewing Co. Nabs New Home in Scottsdale

by Nellie Day January 12, 2015

SCOTTSDALE, ARIZ. – Fate Brewing Co. has purchased a 15,000-square-foot building in Scottsdale to open a new brewpub location. The space is located at 1312 N. Scottsdale Road. The new space will include a large beer garden-style patio and 19-foot interior ceiling heights. The new location will also brew Fate’s flagship beers, while its original nearby location will continue brewing its small batch, limited-release beers. Plato’s Closet will also take up residency in the building. The buyer, Tom Frenkel, represented himself in the transaction. The seller, SBI Leasing Inc., was represented by Brian Kocour and Courtney Auther Van Loo of Cushman & Wakefield.

January 12, 2015

Arizona Industrial Western

AZ Partsmaster Buys Tempe Industrial Building for $4.9M

by Nellie Day January 8, 2015

TEMPE, ARIZ. – AZ Partsmaster has purchased a 73,536-square-foot industrial building in Tempe for $4.9 million. The building is located at 7125 West Sherman Street, just three miles from the homebuilding and property maintenance supply provider’s former location. The seller was Sun State Builders. The transaction was executed by Payson MacWilliam and Don MacWilliam of Colliers International.

January 8, 2015

Arizona Multifamily Western

HSL Breaks Ground on Encantada at Tucson National Apartments

by Nellie Day January 7, 2015

TUCSON, ARIZ. — HSL Properties has broken ground on the 368-unit Encantada at Tucson National apartment community. The $46-million luxury community is located at 8323 N. Shannon Road. Encantada at Tucson National is scheduled for completion in fall 2016. It will begin leasing this summer. The newest community will join HSL’s existing apartment properties in northwest Tucson, including Encantada at Riverside Crossing, Dove Mountain and Steam Pump. Common amenities at Tucson National include a clubhouse, fitness center, movie theater, indoor/outdoor living space with a professional kitchen, two resort-style pools with a large spa and private cabanas, a complimentary coffee bar and a dog area.

January 7, 2015

Arizona Office Western

ARC Healthcare Buys Paradise Valley Medical Plaza in Phoenix for $28.3M

by Nellie Day January 7, 2015

PHOENIX — American Realty Capital Healthcare Trust (ARC Healthcare) has acquired Paradise Valley Medical Plaza, a 104,000-square-foot medical office building in Phoenix, for $28.3 million. The Class A building is located at 3805 East Bell Road, on the Abrazo Paradise Valley Hospital campus. Paradise Valley Medical Plaza was 90 percent occupied at the time of sale. The property was sold by RP Paradise Valley LLC, a joint venture between Plaza Companies and USAA Real Estate Company. Plaza will continue to provide leasing, construction services and property management for the building. The medical office building was sold to ARHC PVPHXAZ01 LLC, a subsidiary of ARC Healthcare. Plaza Companies and ARC Healthcare are also collaborating on Arrowhead Professional Center in Glendale, which is owned by ARC Healthcare and managed by Plaza.

January 7, 2015

Arizona Retail Western

Sahuarita Plaza Shopping Center Near Tucson Sells for $12.2M

by Nellie Day January 6, 2015

TUCSON, ARIZ. – Sahuarita Plaza Shopping Center, a 160,000-square-foot retail power center near Tucson, has sold to Colt Valley Development Company for $12.2 million. The center is located at the interchange of I-19 and Duval Mine Road in Sahuarita. It’s anchored by Ross, Big Lots, PETCO, Jo-Ann Fabric and Crafts and Ace Hardware. The seller was Canada Life Real Estate LLC. The transaction was executed by Greg Furrier of Cushman & Wakefield | PICOR and Greg Valladao of Cushman & Wakefield.

January 6, 2015

Arizona Multifamily Western

Cove on 44th Apartment Community in Phoenix Changes Hands

by Nellie Day January 6, 2015

PHOENIX – Cove on 44th, a 256-unit apartment community in Phoenix, has sold to Cove Phoenix LLC for $7.7 million. The Class B community is located at 4030 N. 44th Ave. It was built in 1983. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers International’s HSK Multifamily Southwest team represented both the buyer and seller, Cove at 44th LLC, in this transaction.

January 6, 2015

Arizona Industrial Western

Garlock Printing Leases Distribution Space in Sparks

by Nellie Day January 6, 2015

SPARKS, NEV. – Garlock Printing and Converting West has leased 65,088 square feet of distribution space at the Greg Street Industrial Park in Sparks. The space is located at 1450 E. Greg Street. The retail packaging service provider first opened a facility out West in Reno this past March. The company was represented by J. Michael Hoeck, Michael Nevis, Dave Simonsen and Steve Kucera of the NAI Alliance Industrial Properties Group. The landlord was not named.

January 6, 2015

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