Brokerage Archives

Mesa apartments near Falcon District sell

by in AZRE Magazine | Brokerage

California-based OpenPath Investments purchased Green Leaf Vista, a 98-unit apartment complex in Mesa, from Green Leaf Partners for an undisclosed amount, according to brokerage firm Marcus & Millichap who represented the sellers. The property is located at 3443 E. University Dr. in Mesa, four miles from the Falcon District, a 5,100-acre area composed of more than 10… Read More →

Purchased land near Mill Ave. planned for high-rise apartments

by in AZRE Magazine | Brokerage | Site Selection

An investment firm plans to develop a high-rise apartment project at one of the two plots of land it purchased near Mill Avenue, according to Cushman & Wakefield who represented the sellers in the deal. Core Campus Investment Partners LLC purchased .75 acres at the southeast corner of Seventh Street and Mill Avenue in Tempe, along… Read More →

Multi-property double-escrow transaction completed by CBRE

by in AZRE Magazine | Brokerage

A four property exchange with three double escrows was completed by CBRE’s Bill Bayless and Helix Properties LLC’s Ryan Spiekerman, Adam Feldman and Marc Altieri, negotiating on behalf of a single-entity LLC controlled by Helix. The multi-property, double-escrow transaction also involved Phoenix-based Verde Investments. Verde was represented by Scott Ellsworth of SRS Real Estate Partners. Through… Read More →

Mixed-use project at University Drive and Forest Avenue sold

The Opus Group began construction on the two residential towers late last year. (Rendering courtesy of The Opus Group)
by in AZRE Magazine | Brokerage

Cushman & Wakefield negotiated the $15.24 million sale of the mixed-use development at the northwest corner of University Drive and Forest Avenue in Tempe, Ariz. to Minneapolis-based The Opus Group. The Cushman & Wakefield team of Brent Moser, Mike Sutton and Brooks Griffith represented the seller, Sundt Companies of Tempe. The 115,325-square-foot development site, yet to be named, will include two… Read More →

CPI negotiates $1.85M industrial sale

by in AZRE Magazine | Brokerage

Arizona-based brokerage firm Commercial Properties Inc./CORFAC International. (CPI), completed the $1.85 million sale of an industrial investment building located at 61 S. William Dillard Dr. in Gilbert, Ariz. The building is approximately 14,910 square feet, located in the Elliot Commerce Park. Jeff Hays of CPI’s Industrial Team represented the owner, Sagamore Properties LLC. Hays commented, “This property was built in… Read More →

Tractor Supply Co. location sells for $5.88M

by in AZRE Magazine | Brokerage

CBRE completed the sale of a newly constructed, single-tenant Tractor Supply Co. location at 24930 S. Ellsworth Rd. in Queen Creek, Arizona. The 21,702-square-foot Tractor Supply Co. opened for business on October 8, 2016. Total consideration for the transaction was nearly $5.88 million. Joseph R. Compagno with CBRE’s Phoenix office represented the seller and buyer; Long Development… Read More →

CBRE completes 5 apartment deals worth $6.8M

by in AZRE Magazine | Brokerage

CBRE Multifamily Investment Group recently completed five transactions of multifamily properties located in Northern and Central Phoenix—Mountain View, Heritage Park, Palm Vista, Morningside Pointe and The Wells—with a total consideration of approximately $7 million. Mountain View: A 26-unit complex located at 9633 N. 17th Ave. in Phoenix, Arizona. Total consideration for the transaction was $1.33 million,… Read More →

Apartments near Raintree Drive sell for $51M

Apartments near raintree drive
by in AZRE Magazine | Brokerage

MG Properties purchased a Scottsdale apartment community, Broadstone Scottsdale Horizon, from Rockwood Capital and Alliance Residential Company for $51 million, according to JLL Phoenix, which negotiated the deal. Executive Vice President John Cunningham and Senior Vice President Charles Steele led the JLL team on the deal. Broadstone Scottsdale Horizon is a 330-unit rental community near 92nd Street… Read More →

Student apartments near UA sell for $2.695M

Student apartments
by in AZRE Magazine | Brokerage

Located less than one half mile south of The University of Arizona Campus, Cherry Park Studios student housing complex closed for $2,695,000 ($165.32/SF). Cherry Park Studios consists of 17 student housing apartments. The property was originally built in 1952, then expanded by the American Red Cross in 1985. Roja Cruz Apartments LLC purchased the building… Read More →

CBRE completes double escrow sale near South Mountain

by in AZRE Magazine | Brokerage

CBRE completed the sale of CVS Plaza at South Mountain at 1615 – 1635 E. Baseline Rd. in Phoenix, Arizona and negotiated the spinoff of the CVS Pharmacy, which closed the same day. The sale included an approximately 14,000-square-foot. retail strip center and a 14,169-square-foot CVS Pharmacy. The first sale commanded a price of $5.9… Read More →

Clear Sky Capital buys Tatum Place in Scottsdale

Tatum Place is located at 16801 N. 49th St. (Photo courtesy of Cushman & Wakefield)
by in AZRE Magazine | Brokerage

Cushman & Wakefield negotiated the $18.1 million ($110,336 per unit) sale of Tatum Place, a 164-unit apartment community located at 16801 N. 49th Street in Scottsdale, to Phoenix-based Clear Sky Capital EBH, LLC. The property, built in 1984, currently offers one- and two-bedroom floor plans with an average unit size of 804 square feet. Tatum Place offers… Read More →

Uptown Phoenix offices with penthouse sells for $2.063M

uptown Phoenix
by in AZRE Magazine | Brokerage

A 7,400-square-foot contemporary resident and office building at 116 W. McDowell Rd. has sold for $2,062,500 in an all-cash transaction. Price per-square-foot was $278.71. Built in 2007, this striking contemporary building features 6,300 square feet of creative work and gallery space, a 1,100-square-foot penthouse residence, an additional 1,200-square-foot rooftop deck and 12 parking spaces. Lee & Associates… Read More →

561-unit Phoenix apartments sell for $36.25M

Phoenix apartments
by in AZRE Magazine | Brokerage

A Los Angeles-based property firm sold a 561-unit community in Phoenix for $36.25 million, according to Cushman & Wakefield. B.H. Properties sold the property to Phoenix-based 3rd Avenue Investments LLC. The apartment community, Madera Court, was built in 1982, and is considered to be a great property for interior and exterior renovations, according to Cushman & Wakefield.… Read More →

Hines buys Southwest Industrial Center for $47.3M

Southwest Industrial Center
by in AZRE Magazine | Brokerage

Hines, the international real estate firm, acquired the Southwest Industrial Center from Hillwood Property Trust for $47.3 million. The  Class A industrial park is located in the heart of the Southwest Valley submarket in Phoenix at Buckeye Road and 75th Avenue. The project consists of a 684,000-square-foot, 32-foot clear logistics warehouse and an adjacent development parcel capable of accommodating a… Read More →