Brokerage Archives

Maracay Homes closes on $12.42 million land purchase

Land Advisors Organization recently brokered the $12,420,000 purchase by Maracay Homes of 216 finished homesites in Gilbert, Arizona. Ryan Semro and Bret Rinehart of Land Advisors Organization brokered the cash transaction between Maracay Homes, a wholly owned company of the TRI Pointe Groupe, and the seller, Annecy Recovery Acquisition, LLC. The East Valley is rapidly… Read More →

Redevelopment plans will transform Phoenix hotel into senior housing

A partnership between Bruckal Developments and Ridgeline Properties has purchased the former Country Inn & Suites property at 20221 N. 29th Ave. for a price of $8,336,000. The buyer plans to convert the property into senior housing — assisted living and memory care. “This is one of the most creative and complex real estate transactions… Read More →

ABI brokers $43.5M sale of Chuparosas Apartments in Chandler

by in AZRE Magazine | Brokerage

ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $43,500,000 / $168,605 Per Unit sale of the Chuparosas Apartments located in Chandler, Arizona. Chuparosas is a two story, garden-style apartment community which rests on approximately 17.13 acres. The property was built in 2007 of frame construction with… Read More →

IPA sells 424-unit Green Leaf Promontory Pointe

by in AZRE Magazine | Brokerage

Institutional Property Advisors (IPA) announced today the sale of Green Leaf Promontory Pointe, a luxury, 424-unit apartment complex in North Central Phoenix, Arizona. The asset sold for an undisclosed price. “Green Leaf Promontory Pointe enjoys a coveted position within the submarket’s competitive landscape, particularly with its topography and striking mountain views,” says Cliff David, senior… Read More →

301-unit apartment community in Phoenix sells for $12.7M

by in AZRE Magazine | Brokerage

Cushman & Wakefield announced the $12,742,000 sale of La Reserve at Forty-Fifth, a 301-unit apartment community located at 2627 N. 45th Avenue in Phoenix, to Phoenix-based Jevan Capital, PLLC. Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the seller, CEGOP-PHX 1, LLC of Fort Collins, Colo. Built in 1972, La… Read More →

How do autonomous vehicles in logistics impact real estate?

By now we’ve all heard the buzz about autonomous vehicles. Companies like Amazon, Mercedes-Benz and Uber are heavily investing in this technology and many have begun open road testing. The arrival of these vehicles is imminent and fast approaching. In a report published by Edmonds last month, by the year 2030, 95 percent of U.S. car… Read More →

Daum negotiates $5.925 sales with 2 flex/industrial buildings

by in AZRE Magazine | Brokerage

Daum Commercial Real Estate Services has negotiated the $5.925 million sale of two industrial buildings located in Tempe and Phoenix. Daum Phoenix Executive Vice President Rich Sica represented the buyer and seller in both transactions. In the first transaction, University Realty LLC, an affiliate of the ASU Foundation purchased a 50,450-square-foot single-story industrial office building… Read More →

Marcus & Millichap sells Residence Inn Marriott in Gilbert

by in AZRE Magazine | Brokerage

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a 100-room, upscale extended-stay Residence Inn Marriott in Gilbert, Arizona. The terms of the sale were not disclosed.             “The sale of the Residence Inn Gilbert demonstrates that the hotel… Read More →

Henkel seeking buyer for iconic Scottsdale headquarters

The prestigious North Scottsdale office market — home to several of Arizona’s largest and most notable employers, including HonorHealth, Vanguard, Fender and Quicken Loans — now boasts one of the most desirable investment/occupier opportunities in the country with the Henkel headquarters now on the market. German-based consumer products global leader, Henkel, is seeking a buyer… Read More →

Midtown apartments, Club 7, sell for $19M

Club 7
by in AZRE Magazine | Brokerage | Multi-Family

Club 7 Apartments, a 219-unit, urban infill multifamily community at 3030 N. 7th St., Phoenix, sold for $19,000,000 or $86,758 per door. Lee & Associates brokers Todd Braun, principal, and Bryson Fricke, associate sold the property on behalf of Oregon-based 3030 North Equity LLC. The sought after property was in high demand with multiple offers.… Read More →

Upcoming Chandler Airpark secures first two tenants

Chandler Airpark
by in AZRE Magazine | Brokerage

Chandler’s newest industrial development by California-based Silagi Development & Management (SDM) welcomed its first two users to the park upon completion of the development, Chandler Airpark. The DeMichele Group, a provider of software and equipment for the fenestration industry, acquired Building B totaling 17,149 square feet at 2110 S. Douglas Dr. California-based labor law poster All In One… Read More →

Wine distributor buys Phoenix facility for $20.5M

Wine distributor
by in AZRE Magazine | Brokerage | Industrial

On behalf of Young’s Market Company of Arizona, a family-owned distributor of wines, spirits and select beverages, Cushman & Wakefield recently negotiated the purchase of 402 S. 54th Place in Phoenix for $20.5 million. The seller was Los Angeles-based Barley Equites V LLC. Andy Markham, SIOR, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented Young’s Market Company of Arizona. The team represented Young’s in previous site selections, including the… Read More →

Village at Hayden sells for $26.45M

Village at Hayden
by in AZRE Magazine | Brokerage

Holliday Fenoglio Fowler LP (HFF) closed the $26.45 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development in Scottsdale, Arizona. HFF marketed the property on behalf of the seller, Village at Hayden LLC, a partnership comprising AEW Capital Management LP and The Muller Company. HFF also procured the buyer, Arizona Partners.  The property… Read More →

Discount Tire HQ sells for $40M

Discount Tire HQ
by in AZRE Magazine | Brokerage

The Discount Tire Corporate Headquarters in Scottsdale at 20225 N. Scottsdale Rd. Were sold for $40.18 million to Discount Tire’s founder, Bruce Halle, according to Colliers International, the brokerage firm behind the sale. The two-story Class “A” office project was developed by Opus West Corp. in 2002 through a structured build-to-suit agreement with Discount Tire Company’s founder,… Read More →