Brokerage Archives

Goodyear apartments sell for $15.5M

Park Shadows has 237 units, and is situated along Litchfield Road. (Photo courtesy of Berkadia)
by in AZRE Magazine | Brokerage | Multi-Family

Berkadia announced the recent sale of Park Shadows, a multifamily property located in Goodyear, Ariz. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office organized the $15.5 million sale that closed on July 22. The buyer, JB Partners, LLC, a Nevada limited liability company based in… Read More →

CBRE completes $10.85M sale of JCPenney

JCPenny
by in AZRE Magazine | Brokerage

CBRE has completed the sale of a single-tenant, JCPenney located in the Ahwatukee Foothills, on East Ray Road and the I-10 freeway. Joseph R. Compagno with CBRE’s Phoenix office represented the seller, Yorktown Corporation of Santa Cruz, Calif., and the buyer, GRT Ray JCP, LLC of Santa Monica, Calif. The 104,880-square-foot retail property commanded a… Read More →

Colliers negotiates $5.45M west Phoenix apartment sale

Colliers
by in AZRE Magazine | Brokerage | Multi-Family

Colliers International of Greater Phoenix negotiated the $5.45 million sale of Bella Rio Apartments at 4903 W. Thomas Rd. in West Phoenix. The property was sold to a local investor who is adding the development to his existing portfolio of local apartment projects. “Bella Rio is a perfect example of a property purchased to take… Read More →

ABI Multifamily negotiates Biltmore Corridor sale

ABI Multifamily
by in AZRE Magazine | Brokerage | Multi-Family

Brokerage firm ABI Multifamily negotiated the $6,045,000 ($118,529/Unit) sale of the 18 at Biltmore Apartments, a 51-unit apartment community located in Phoenix, Arizona. 18 at Biltmore is a low density, one and two-story apartment community built from 1957 to 1962 of concrete construction and sits on approximately 3.5 acres of land. The property consists of… Read More →

NAI Horizon negotiates $3.3M investment property sale

NAI Horizon
by in AZRE Magazine | Brokerage

NAI Horizon Associate John Toben represented the buyer in the acquisition of the $3.33 million investment property sale of a newly constructed Kneaders Bakery and Café at 4126 E. Indian School Rd., in Phoenix. Toben represented Scottsdale-based LEP Properties, LLC, in the transaction. “The highly-desired Arcadia neighborhood is now home to a healthy option on… Read More →

ORION sells Red Devil Center for just over $2M

red_devil_02
by in AZRE Magazine | Brokerage

ORION Investment Real Estate announced the sale of Red Devil Center for $2,060,000 ($113/SF). This ±18,170 square foot retail strip center is located just west of the northwest corner of the high traffic intersection, Southern and Mill Avenue. The property is shadow anchored by Fry’s Food Store. Red Devil Center was 81% occupied to stabilized,… Read More →

After leasing out for three years, LPC sells $30M industrial property

LPC
by in AZRE Magazine | Brokerage | Industrial

After leasing a Class A Lincoln Property Company (LPC) distribution facility in the heart of Phoenix’s Southeast Valley industrial market for three years, global supply chain leader XPO Supply Chain Inc. has opted to purchase the building for more than $30 million. A top-ten global provider of supply chain solutions, XPO (formerly Menlo Worldwide) originally occupied the LPC… Read More →

NAI Horizon negotiates Planet Fitness lease

NAI Horizon
by in AZRE Magazine | Brokerage

NAI Horizon negotiated a long-term lease on behalf of the tenant, Planet Fitness, at 20924 N. John Wayne Pkwy. in Maricopa, Ariz. The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega and Retail Specialist Patrick Anthon represented PF Maricopa City LLC in the transaction totaling… Read More →

Tempe retail center sells for $7.5M

Tempe retail center
by in AZRE Magazine | Brokerage | Retail

A Tempe retail center, Countryside Specialty shops, sold for $7,500,000, according to ORION Investment Real Estate. This ±31,723 square foot, vibrant retail strip center sits on the northwest corner of McClintock Drive and Warner Road at a signalized intersection, with high traffic counts. The property was sold by JDS Countryside LLC/DLS Countryside LLC. Morris Family Trust… Read More →

Daum negotiates sales in Phoenix and Scottsdale

Office building at 33765 N. Scottsdale Rd.
by in AZRE Magazine | Brokerage

Daum Commercial Real Estate Services has negotiated the $5.362 million sale-leaseback of a large medical practice group of west valley properties – the 19,679-square-foot medical office complex, Fountains Medical Center located at 5620 W. Thunderbird Road in Glendale and the 5,262-square-foot medical office center, Indian School Professional Plaza at 9150 W. Indian School Road in… Read More →

KBS REIT III renews lease at Anchor Centre

Anchor Centre
by in AZRE Magazine | Brokerage | Office

KBS Real Estate Investment Trust III (“KBS REIT III”), a non-traded real estate investment trust based in Newport Beach, California, announced the renewal of a 16,194-square-foot lease by Northwestern Mutual, a financial planning company, at Anchor Centre. The Class A, two-building office complex totals 333,014 square feet and is located in Phoenix’s Camelback Corridor. Northwester Mutual’s… Read More →

CBRE completes $42.65M sale of apartment communities

CBRE
by in AZRE Magazine | Brokerage | Multi-Family

CBRE finalized the sale of Highland Park and Park View, two multifamily communities totaling 472 units and located in Tempe. Together, the properties sold for $42.65 million. A joint venture sponsored by Scottsdale-based Everest Holdings purchased the communities from San Diego-based Stratford Partners. Tyler Anderson, Sean Cunningham, Asher Gunter, and Matt Pesch negotiated the transaction with CBRE’s… Read More →

Coldwell Banker Commercial Advisors expands Phoenix offices

Coldwell Banker Commercial Advisors
by in AZRE Magazine | Brokerage

Coldwell Banker Commercial Advisors is expanding its brokerage services in the Phoenix area with real estate veterans Chuck Wells and Trask Switzenberg leading the charge. Coldwell Banker Commercial Advisors has been expanding its services across the country recently, said Lew Cramer, president and CEO of the brokerage services provider. “Growing a full-service brokerage operation in… Read More →

NAI Horizon completes sales, lease transactions

123rf.com: Vitaliy Vodolazskyy
by in AZRE Magazine | Brokerage

Commercial Real Estate firm NAI Horizon, announced $2.4 million worth of recent sales transactions, and 11 leases that were finalized. Sales transactions: Barbara Lloyd and Lane Neville negotiated the sale of a 3.86-acre parcel of land, representing the seller, Lindsay Square Care Center, LLC, for $1.3 million. The property is located at 940 E. Williams… Read More →