PHOENIX – Popeye’s Louisiana Kitchen will open a 2,565-square-foot outpost in Phoenix. The new restaurant is situated at the southwest corner of Central and Dunlap. It was formerly occupied by KFC. The site will be repurposed for the new Popeye’s location, which will open next year. Popeye’s was represented by Darren Pitts, Michael Clark, Nick Ault and Dave Cheatham of Velocity Retail. The landlord, an entity controlled by Lawrence Geyser & Associates, was represented by Jason Fessinger of Strategic Retail Group.
GOODYEAR, ARIZ. – Palm Valley Office Park I & II, an 83,575 square foot office project in Goodyear, has sold to Kootenay Holdings for $15.3 million. The space is located at 1616 and 1646 North Litchfield Road. The seller was Steve Schrag, REO asset manager, of Key Bank c/o KeyCorp Real Estate Capital Markets. The transaction was executed by Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group. Jeffery Hartland and Scott Boardman of Cassidy Turley’s Office Group will handle the building’s leasing.
PHOENIX – Dollar Tree has opened four stores in Arizona. The locations include a 10,800-square-foot space now open at Chandler Festival in Chandler; a 10,204-square-foot space at Cotton Plaza in Surprise; an 8,625-square-foot space in Bell Camino Shopping Center in Sun City; and a 7,840-square-foot space located at the southwest corner of Guadalupe Road and Hawes Road in Mesa. Dollar Tree was represented by Kurt Kalocin of SRS.
CHANDLER, ARIZ. – A 46,119-square-foot industrial property in Chandler has sold to Bell Steel Inc. for $4.5 million. The asset is located at 1100 N. Hamilton Street. The sale included a 4,000-square-foot office building, a 29,319-square-foot fabrication building, a 10,800-square-foot office/warehouse building and a 2,000-square-foot storage building. Bell Steel was represented by JLL’s Steve Larsen. The seller, TW Steel, was represented by Evan Koplan and Mike Parker of CBRE’s Phoenix office.
TEMPE, ARIZ. – DCT Industrial Trust has purchased a three-property industrial portfolio in Tempe for $26.4 million. The portfolio contains a total of 355,371 square feet. The transaction includes Roosevelt Center at 2405 and 2415 S. Roosevelt Street; Parkland Center at 7245 and 7307 South Harl Ave.; and Wilson Center at 2636 South Wilson Street. Roosevelt Center and Wilson Center contain three high-quality warehouse/manufacturing buildings totaling 292,605 square feet within the Broadway Industrial Park. Parkland Center contains two multi-tenant industrial buildings totaling 62,766 square feet in the south Tempe submarket. The portfolio was 98 percent leased at the time of sale. DCT plans to hold the portfolio and continue its lease-up efforts. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group represented both the buyer and seller, a Chicago-based global investment manager, in this transaction.
PHOENIX – Gateway Office Center, a 31,557-square-foot office complex in Phoenix, has sold to Garnett Capital Corporate for $3 million. The center is located at 4130 E. Van Buren Ave., within the Phoenix Gateway Center Office Park. It was built in 1987. The property is fully leased. The seller, Brentwood Gateway Center, was represented by Eric Wichterman, Mike Coover and Gordon Raguse of Cassidy Turley.
CHANDLER, ARIZ. – Arizona Priority Care has leased 24,896 square feet at Chandler Corporate Center. The Class A center is located at 585 North Juniper Drive. The medical care provider was represented by Michael Dupuy and Fletcher Perry of Colliers International. The landlord, Garmin International, was represented by Todd Noel and Ryan Timpani of the same firm.
SCOTTSDALE, ARIZ. – The 101-room Hampton Inn & Suites Scottsdale-Riverwalk has received $7 million in acquisition financing. The hotel is located at 9550 E. Indian Bend Road. Indian Bend Hotel Group LLC, an affiliate of Caliber Companies, recently acquired the hotel for $10.4 million. The hotel is part of the 187-acre, $400-million Riverwalk Arizona master development. The bridge loan was funded by Thorofare Capital. The transaction was structured and negotiated by the firm’s Felix Gutnikov.
SCOTTSDALE, ARIZ. – Hartford Place, a 66,800-square-foot flex office/warehouse in Scottsdale, has sold to Hartford Exchange LLC and Reems & Greenway LLC for $7 million. The property is located at 8388 E. Hartford Drive within the Perimeter Center Business Park. HomeSmart recently signed on to occupy half of the building. The seller, Buchanan Street Partners, was represented by Eric Wichterman, Mike Coover and Michael Kitlica of Cassidy Turley.
PHOENIX – Tierra Del Sol, a 42,994-square foot retail property in Phoenix, has sold to Pacific Property Group for $4.2 million. The center is located at 1606 East Bell Road. It is currently 75 percent leased. Ben Tashakorian and Stuart Fagan of Marcus & Millichap’s San Diego office represented both the buyer and seller, 5121 Glendale Associates, in this transaction.