Tag Archives: commercial properties inc

620 S 80th Avenue

Intermountain Drilling Supply Corporation renews lease

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the lease renewal of a 31,513 square foot industrial building at 620 South 80th Avenue in Tolleson, Arizona. The 31,513 square foot building is located just off Buckeye Rd and 80thAve. Jeff Hays, Chad Neppl and Ryan Steel represented the tenant, Intermountain Drilling Supply, in the lease renewal.  Intermountain Drilling Supply designs, manufactures and distributes innovative drilling products.

Courtesy of CPI

Winters Arizona buys 13KSF office in Chandler

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a ±12,800 SF office building.  Winters Arizona, LLC purchased 3155-3165 S. Price Rd. in Chandler.  Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Group represented the seller, SFGVI Properties LLC, in this transaction.

The buyer purchased the ±12,800 SF, Class A building in the Ocotillo Lakes Community.  Aquila Ocotillo is part of a ±51,164 SF office complex located along the Price Road Corridor, on the Southeast corner of Price Road and Queen Creek Road.

Tyson Breinholt commented, “The building was fully leased to one tenant which made for a somewhat smooth and simple transaction.  The architecture, both inside and out, was complimentary to the area and presented well allowing for a quicker than normal escrow timeline.”

The transaction closed at a value of $1.86 million in total consideration.

7227 N. 16th St.

Renters Warehouse leases 12KSF in Phoenix

Commercial Properties, Inc. announced the lease of a 12,199 square foot office space for Renters Warehouse Arizona.  Renters Warehouse will be expanding and relocating to 7227 N. 16th Street in Phoenix.  Scott Nelson of CPI’s Scottsdale Office Group represented the tenant, in this transaction.
Renters Warehouse Arizona leased 12,199 SF in the Pointe Business Plaza, a ±101,161 SF office building at 7227 N. 16th Street.  The Pointe Business Plaza is located north of Glendale Avenue, on 16th Street and is listed by Landmark ACM.
Scott Nelson commented.
“My client, Renters Warehouse Arizona has been rapidly expanding over the last several years and this move will allow for their continued growth. Renters Warehouse is a top ranked residential leasing and management company who’s  experienced professionals provide industry leading service.
The transaction resulted in nearly $1M in total consideration.
Camelback Medical Plaza

Spooner Physical Therapy leases two Phoenix office suites

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the lease of two suites for Spooner Physical Therapy. Spooner Camelback will be expanding and relocating to 5040 N. 15th Avenue, and Spooner Desert Ridge will be expanding and relocating to 20830 N. Tatum Blvd., in Phoenix, Arizona.  Scott Nelson of CPI’s Scottsdale Office Group represented the tenant, Spooner Physical Therapy at these properties.

Spooner Physical Therapy leased a suite in Camelback Medical Plaza, a ±47,755 SF medical building at 5040 N. 15th Avenue.  Camelback Medical Plaza is located just north of Camelback Road, on 15th Avenue and is listed by Colliers International.  Spooner Physical Therapy also leased space in Desert Ridge Corporate Center, a 137,225 SF office building at 20830 N Tatum Blvd.  Desert Ridge Corporate Center – Phase II was built in 2007, and is listed by Lee & Associates.

Scott Nelson commented. “My client, Spooner Physical Therapy offers outpatient rehabilitation services at their 16 locations throughout the valley.  For the last 25 years, they have transformed their communities through the founding principle of ‘health in motion’.  Moving into new suits allows Spooner Physical Therapy to better serve their clients physical therapy needs by offering the  surrounding communities services such as orthopedic rehab, hand therapy, breast cancer rehab, pelvic health therapy, ASTYM treatment, trigger point dry needling, and the AlterG Anit-Gravity Treadmill. The therapists work closely with their patients in setting individualized, goal driven care, dedicated to helping individuals of all ages and abilities achieve their maximum physical potential. Visit spoonerphysicaltherapy.com for more information on locations and services.”

The combined square footage taken by Spooner Physical Therapy was ±11,666 SF and resulted in nearly $2.5 million in total consideration.

Scott Nelson may be contacted for additional information at snelson@cpiaz.com, or 480.522.2790.

Mesa Springs, WEB

16KSF office building sells in Mesa for $1.19M

Commercial Properties, Inc. announced the sale of 1234 S. Power Rd. in Mesa. Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Investment Group represented the seller, Mesa Springs LLC, and the buyer, Vista Capital Fund LLC.

The ±16,333 SF, class-B office building was built in 1988 and is located adjacent to Superstition Springs Mall.

“This two-story office building features a nice interior lobby & common areas suitable for professional office tenants. The property offers easy access with frontage on the west side of Power Road, and is just off the US-60 in the Superstition Springs Mall District,” Tyson Breinholt commented.

The new owner/investor, Vista Capital Fund LLC purchased the multi-tenant property, which closed at a value of $1.19 million.

Commercial Properties Incorporated, and Breinholt and McCormick have retained the leasing for this property.

RED-Awards-Logo10

AZRE announces 2015 RED Awards finalists

Every February for the last 10 years, AZRE magazine has shone a spotlight on the commercial real estate industry through its annual Real Estate Development (RED) Awards. This year, a record number of projects and brokerage teams were nominated for a chance to be recognized at this year’s RED Awards.

For tickets to this year’s RED Awards, click here.

After lively debate and a few unanimous decisions among this year’s selection committee, AZRE proudly announces the 2015 RED Award finalists are, in alphabetical order:

Congratulations to this year’s contending projects:
Adelante Healthcare Peoria
Banner Estrella New Tower Addition
Banner MD Anderson Cancer Center Phase II Clinic Expansion
Bottled Blonde/Livewire
Broadstone Lincoln
Chandler Regional Medical Center
CityScape Residences
College Avenue Commons
Coyote Center at Chandler-Gilbert Community College, Pecos Campus
CyrusOne, Building 4
General Motors IT Innovation Center
GoDaddy Global Technology Center
Great Hearts Academies, Arete Preparatory Academy
Heritage Marketplace
Lewis Prison Complex Expansion
Liberty Center at Rio Salado
Marketplace at Lincoln & Scottsdale
Mesa Community College Performing Arts Center
MZ
Ocotillo Brine Reduction Facility
Phoenix Sky Train Stage 1A
SkySong, The ASU Innovation Center — SkySong 3
Start @ West-MEC, Innovation Center
Sun Devil Marketplace
Sunset Heights Elementary School
Sussex Properties for TLC Label
The Newton
University of Arizona—McKale Center Renovation
University of Arizona—Old Main renovation

And the companies that have been nominated as finalists with the above projects:
ADM Group
AECOM
Alliance Residential Builders
Alliance Residential Company
Ameris Construction
Architekton
Arizona Board of Regents
Arizona Department of Administration
AV3 Design
Axis Projects Corporation
Balmer Architectural Group
Banner Health
Butler Design Group
BWS Architects
Cam-8, LLC
Carollo Engineers
Cawley Architects, Inc.
Chasse Building Team
City of Phoenix
Corgan Associates, Inc.
CyrusOne Inc.
Dick & Fritsche Design Group
Dignity Health
DLR Group
DPR Construction
Emc2 Architects Planners, PC
Evening Entertainment Group
Fanning Howey
Fimbres Studio
Follett Higher Education Group
Gannett Fleming, Inc.
Gensler
Great Hearts Academies
HKS, Inc.
Hunt Construction, an AECOM Company
Iconic Design Studio

Intel Corporation
JAVCON
JE Dunn Construction
John Douglas Architects
Jones Studio
Kitchell
Layton Construction Co., Inc.
Liberty Property Trust
LGE Design Build
Maricopa Community Colleges
Mark IV Capital
McCarthy Building Companies, Inc.
McCarthy Kiewit Joint Venture
MD Heritage LLC
Modus Development
Mortenson Construction
Okland Construction
ORB Architecture, LLC
Orcutt | Winslow
Peoria Unified School District
PHArchitecture
Plaza Companies
Poster Frost Mirto
RED Development
RJM Construction
RSP Architects
Ryan Companies US, Inc.
SmithGroupJJR
Sundt Construction, Inc.
Sussex Properties
The Whiting-Turner Contracting Company
Venue Builders
Venue Projects
Wespac Construction Inc.
West-MEC

 

Brokerage Team Finalists

CBRE
Pat Feeney, Dan Calihan and Rusty Kennedy
Todd Fogler, Ryan Eustice and Jami Savage-Gray
Tom Adelson, Jim Fijan, Jerry Robert and Corey Hawley

CPI
Leroy Breinholt
Trent Rustan
Tyson Breinholt

Cushman & Wakefield
Chris Toci and Chad Littell
Jackie Orcutt, John Grady and Mackenzie Ford
Larry Downey

DTZ
Mike Haenel, Andy Markham and Will Strong
Robert Buckely, Tracy Cartledge, Steve Lindley

JLL
Anthony Lydon and Marc Hertzberg
Bill Honsaker, Anthony Lydon and Marc Hertzberg
Dave Seeger, Karsten Peterson and Mark Gustin
John Bonnell and Brett Abramson
Mark Detmer and Bo Mills
Pat Harlan, Steve Sayre and Kyle Westfall
Pat Williams, Steve Corney, Vicki Robinson and Andrew Medley

Lee & Associates
Craig Coppola and Andrew Cheney

Velocity Retail
Andy Kroot
Darren Pitts and Dave Cheatham

The project and brokerage team winners will be announced at the RED Awards reception on Thursday, Feb. 26, at the Arizona Grand Resort between 6 and 8 p.m. At the event, winners of AZRE’s 2015 developer, general contractor, architect and subcontractor of the year awards will also be announced.

Tickets are now available for the RED Awards. here for more information.

8722 E San Alberto, CPI, WEB

Mack Management buys 10KSF office building in Scottsdale

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of 8722 E. San Alberto Dr. in Scottsdale.

Ron Schooler, and Kenneth Elmer of CPI’s Scottsdale Office Investment Group represented the seller, K.B. San Alberto LLC.  The buyer had no broker representation in this transaction.

The ±10,216 SF, class-B office building is located in Scottsdale, just north of Via de Ventura, and west of Pima Road in the Ranch Office Park subdivision.

The new owner/investment group, Mack Management, LLC purchased the fully leased property, which was valued at $1.8 million ($176.00 per foot) based on ±10,216 SF.

2915 W Fairview St, CPI, WEB

Trilogy Partners buys 12KSF warehouse in Chandler

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of 2915 West Fairview Street, Chandler, Ariz.  Leroy Breinholt represented the buyer and Jeff Hays, Chad Neppl and Ryan Steele of CPI’s Tempe Industrial Group represented the seller in this transaction.

The ±12,000 SF, freestanding warehouse building is located just south of Frye Road, and east of Price Road in the Chandler industrial submarket.

Neppl commented, “The property offers the new owner/user, Trilogy Partners, LLC, a building with heavy power and a 4/1000 parking ratio for their landscaping company.  The building sits on approximately ±1.19 Acres of land and Trilogy Partners, LLC, (SiteWorks) is doubling their building square footage.”

The sale was valued at $1.2 million ($100.00 per foot) based on ±12,000 SF.

2602 S 47th St, CPI, WEB

Logisticare Solutions leases 62KSF in Phoenix

Commercial Properties, Inc. announce the lease of 2602 S. 47th St., Suite 100 in Phoenix on Friday.  Leroy Breinholt, Darin Edwards and John G. Soldo, SIOR of CPI’s Tempe Industrial Group represented the landlord in this transaction.

The ±61,658 SF, multi-tenant, flex building was built in 1985 and is located just north of University Drive, east of 44th Street and south of Phoenix Sky Harbor Airport.

Edwards commented, ” The property offers the new tenant, Logisticare Solutions, LLC, the ability to increase their operations with the additional square footage, take advantage of the heavy parking available and be centrally located to the airport. LogistiCare provides state government agencies, managed care organizations and hospitals non-emergency, comprehensive transportation programs.”

Eric Ramer of ICON Commercial in Atlanta, GA represented the new tenant, Logisticare Solutions, LLC in this transaction.

6145 W Detroit Street, WEB

Talon Test Labs buys industrial space in Southpark Business Center

Commercial Properties, Inc. announced the sale of 6145 W Detroit Street, Chandler, Ariz.  Jeff Hays, Chad Neppl and Ryan Steele of CPI’s Tempe Industrial Group represented the buyer in this transaction.

The ±24,565 SF, freestanding research and development/manufacturing building is located at 6145 W Detroit Street in Chandler, Arizona just north of Chandler Blvd., and east of Kyrene Road in Southpark Business Center.

“The property offers the new owner, Talon Test Labs, a fully air conditioned building for their non destructive testing services on composites, plastics, powdered and exotic metals for the aerospace, automotive, power generation and medical industries. Talon Test Labs is doubling building square footage,” commented Hays.

The sale was valued at $1.7 million ($69.00 per foot) based on ±24,565 SF.  Jim Wilson and Brian Feist of Cushman & Wakefield Phoenix and New York City represented the seller, 228-32 W 42nd St Realty Corp in New York.

1305 N 27th Ave, WEB

Industrial truck terminal sold for $1.7M in Phoenix

Commercial Properties, Inc., announced the sale of 1305 N. 27th Ave.  Jeff Hays, Chad Neppl and Ryan Steele of CPI’s Tempe Industrial Group represented the buyer in this transaction.

The ±26,104 SF, Industrial Truck Terminal is located at 1305 N. 27th Avenue in Phoenix, Arizona adjacent to I-10, and just off 27th Avenue & McDowell Road.

Hays commented, ” The property offers the new owner, Ralison Properties Holding, LLC, a 55 door, cross-dock facility and a large paved site with easy access to I-10 and I-17.  This site is ideal for their transloading operations receiving general cargo, paper products, tiles, wood and more.”

The sale was valued at $1.7 million ($65.00 per foot) based on ±26,104 SF situated on 5.5± acre site.

Hewson Dover Business Park, CPI, WEB

CPI sells Hewson Dover Business Park in Mesa

Commercial Properties, Inc. announced the sale of Hewson Dover Business Park.  Tyson Breinholt, Trent Rustan and Josh Gosnell of CPI’s Tempe Office & Retail Group represented the seller in this transaction.

The 11,424 SF, class-B office building is located at 4344 E. Presidio Street in Mesa on the NW corner of Greenfield Road and Presidio Street.  The property offers close proximity to the Loop 202 and is just north of Falcon Field Municipal Airport.

Rustan commented, “cross-marketing and re-use of space was the key to getting a $1M building sale in Mesa. During the bull market, everything was going fine. The building was built in the most unlikely of locations, but it was a build-to-suit. A 11,000 SF full service spa was built next to Falcon Field in Mesa. Fully built out with hair salon, nail stations, massage room, showers, lockers and a beverage counter – everything the tenant could deliver to take advantage of all of the prosperity and new growth in North Mesa and Gold Canyon, but they never got the chance. The real estate crash of 2008 put a quick end to that business plan — and the building sat vacant ever since.”

4344 E Presidio Street is a 100 percent leased, multi-tenant, class-B office building which was built in 2005 and formerly owned by Fisher Holding Company LLC.

Gosnell said, “since we were unlikely to find another 11,000 SF day spa to take this building, we had to think outside the box and market the building to different types of users – office, industrial, medical.”

Breinholt added, “A doctor has purchased the building with the intention of retrofitting the building into his medical practice, which will operate out of the property. This is a use that really makes sense. The doctor is able to use the existing structure and much of the interior rooms, but retro fit the interior for their own unique use. It was a win-win.”

965 N Acacia Drive, WEB

Fiesta Ranch warehouse sells in Gilbert

Andy Jaffe, CPI

Andy Jaffe, CPI

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of a 10,366 SF industrial warehouse located in Fiesta Ranch Commerce Park at 965 North Acacia Drive in Gilbert, Ariz. Andy Jaffe, SIOR of CPI’s Tempe Industrial Group represented the buyer, D&F Properties, LLC in this transaction.

Andy Jaffe, SIOR commented, “The property was originally only listed for lease and my client made an offer to purchase the property.  Kent Hanson represented the Lorenzo M Contreras Family Trust, who ultimately accepted the offer and the deal closed in under 30 days from fully executed contracts.”

965 N. Acacia Dr. is a freestanding warehouse building previously owned by the Lorenzo M Contreras Family Trust, and is located just north of Guadalupe Road and east of McQueen Road in Gilbert.  The reinforced concrete industrial warehouse was built in 2003 and is located in close proximity to major freeways and has excellent parking.

Jaffe, added, “D&F Properties, LLC is the new owner/operator, which will be setting up a manufacturing and distribution center for a company that they own, to expand here in Gilbert.  D&F Properties, LLC is based out of San Jose, California.”

The sale was valued at $960,000.

Cavan Commercial_Phoenix-Mesa Gateway Site Plan, CPI, WEB

Cavan Commercial leases 7.5 acres at Phoenix-Mesa Gateway Airport

Commercial Properties, Inc. (CPI) announced the land lease of approximately 7.5 acres for the future development of approximately 100,000 SF multi-tenant industrial buildings located on the corner of Sossaman Road & Velocity Way and just south of the airport terminal. Leroy Breinholt and David Bean of CPI’s Tempe Industrial Group represented both Phoenix-Mesa Gateway Airport and Cavan Commercial, and will retain the lease listing of the completed project.

Michael Merk, Director of the Phoenix Mesa Gateway Authority commented, “Phoenix-Mesa Gateway Airport is one of the fastest growing regional hub airports in the U.S., flying over 1.45 million passengers annually.  Currently it’s home to Allegiant Airlines, Arizona State Polytechnic University, Chandler Gilbert Community College.”

Breinholt and Bean are working closely with Cavan Commercial consulting on the proposed designs of the multi-phase industrial project which is starting construction in early 2015.  LGE Design Group is going to design and build the project which includes more expansion options in the future.

Merk added, “According to population and growth estimates from the Maricopa Association of Governments, Phoenix-Mesa Gateway Airport and surrounding areas will boast over 100,000 new jobs by 2035, making it one of the largest employment centers in the state of Arizona.”

Dale Cavan, of Cavan Commercial, commented, “We are excited to expand into this rapidly growing submarket in Arizona which needs new product to meet increasing demand.  We identified the need for more manufacturing space as available inventory continues to shrink and rental rates climb higher.  Along with the prospect of bringing more jobs, this project will offer new tenants industrial/office suites with truckwells, secured storage yards, and large grade level doors, which are highly sought after in this product type.”

Sapphire Scientific leased 31KSF at 21430 N. 15th Ln. in Phoenix.

Sapphire Scientific leases 31KSF in Phoenix

Commercial Properties, Inc., announced the lease of a 31,034 SF industrial suite located at 21430 N. 15th Ln. in Phoenix. John G. Soldo, SIOR of CPI’s Tempe Industrial Group represented the tenant in this transaction.

The property is a multi-tenant warehouse building owned by Columbia Arizona 15Th Industrial LLC, and is located just south of the Deer Valley Airport and south of Deer Valley Road and 15th Lane in Phoenix. The reinforced concrete building was built in  2005 and offers the new tenant immediate access to the I-17, Loop 101 and SR-51 freeways.

John G. Soldo, SIOR said, “The new tenant, Sapphire Scientific, Inc, designs and manufactures the industry’s most powerful, efficient truck mounted carpet cleaning accessories. The Class A, institutional property offered them 30′ of clear height, truckwell and grade level loading for their equipment.  Sapphire Scientific is headquartered in Prescott, Arizona, so this location off I-17 was ideal for my client.”

Steve Sayre represented the landlord, Lincoln Property Company.

Andy Jaffe (L) Receives Olen Monsees Award from Robert Tillsley in Chicago.

CPI’s Andrew Jaffe wins CORFAC ‘unsung hero’ award

CORFAC International 2014 President Robert Tillsley, SIOR, announced that Andrew Jaffe,SIOR, with Tempe, Arizona-based Commercial Properties Incorporated/CORFAC Internationalhas won CORFAC International’s Olen Monsees Award.

The Olen Monsees Award recognizes the CORFAC individual as the ‘Unsung Hero’ for the CORFAC member who goes above and beyond without being asked and with little recognition. Andy Jaffe, SIOR certainly fits this description.

In presenting the award to Jaffe, Robert Tillsley cited Jaffe’s involvement with CORFAC:
    2015 Appointed Member – Executive Director At-Large of CORFAC International
    CORFAC Strategic Planning Committee and Membership Committee
    2007 CORFAC Winner for Largest Value Office Joint Assignment
    2010 CORFAC Winner for Top R&D Size Assignment
    2012 CORFAC Winner for Top Investment Value & Size

“Through the years Andy has been a great contributor to CORFAC International’s initiatives and he is a highly accomplished individual in the commercial real estate world. Andy is sincere, hard-working and fulfills his commitments. He is a worthy award winner,” said Tillsley.

Andrew is active in professional organizations, including the Society of Industrial and Office Realtors (SIOR). His background includes working with Fortune 500 Companies as well as other large firms, such as Suntech Power Holdings, United Rental, The Federal Bureau of Investigation, the United States Postal Service, the State of Illinois, Sonic Wall, Kindred Health Care and Apria Health Care. Additionally, he has serviced many mid-sized firms and entrepreneurs.

Olen Monsees (1940-2012), was the president of Karbank Real Estate Company and colleague since 1969.

Olen was an iconic figure in the Kansas City real estate brokerage community.  He distinguished himself with his plain spoken wisdom, his quiet dignity and his low-keyed manner that engendered deep loyalty among his clients, friends and colleagues.  His focus was always to get the job done properly.  He worked with a natural sense of responsibility, without complaint, without excuses.  Olen was the finest of gentlemen.

Jaffe was presented the award earlier this month at CORFAC International’s Fall Summit in Chicago.

Offices at Sundown Ranch, WEB

Offices at Sundown Ranch sold

Commercial Properties, Inc. announced the sale of The Offices at Sundown Ranch.  Eric Butler of CPI’s Scottsdale Office Group represented the seller in this transaction.

 

The 6,291 SF, Class B office condo is located at 8434 E Shea Blvd., in Scottsdale, Arizona and is right off Shea Blvd., just west of the Loop 101.  The property offers close proximity to major medical centers including Scottsdale Healthcare Center.

 

The Offices at Sundown Ranch is a 100% leased, single-tenant office condo built in 2001 which was formerly owned by 85th & Shea Office LLC.

 

The sale was valued at $1,250,000 ($199.00 per foot).

CPI, WEB

CPI sells 11KSF retail building in Mesa

Commercial Properties, Inc., announced the sale of a 10,992 SF freestanding, retail building located at 1021 E Main Street in Mesa, Ariz., to Northern Partners Holding, LLC. Rex Griswold of CPI’s Tempe office represented the seller in this transaction.

1021 E. Main St. is a single-tenant, retail building with frontage on Main Street.  The building was formerly owned by Sebariz, LLC.  The building was built in 1995 and is located just west of Stapley Drive, on Main Street which has traffic counts of approximately 30,965 vehicles per day.

The sale was valued at $720,000 ($65.50 per foot).

3215 N Nevada Street, CPI, WEB

E&E Tradeshow Rentals leases 10KSF at Arizona Corporate Center

Commercial Properties, Inc., announced the sale of a 10,672 SF freestanding, industrial building located in Arizona Corporate Center at 3215 N Nevada Street in Chandler, Arizona to E&E Tradeshow Rentals and Properties. Eric Jones and Leroy Breinholt of CPI’s Tempe Office represented the seller in this transaction.

3215 N Nevada Street is a single-tenant building with a fenced yard, a truck well, and three 14 foot roll up doors.  The building was formerly owned by Berkshire Delaware, LLC.  The building was built in 2007 and is located just north of Elliot Road., and east of Arizona Avenue.

The sale was valued at $1,300,000 ($121.81 per foot).

10636 N 71st Way, WEB

CPI sells Sundown Plaza in Scottsdale for $1.95M

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of a 13,400 SF retail strip center located at 10636N 71st Way in Scottsdale, Ariz. Matt Zaccardi of CPI’s Tempe Office represented the buyer in this transaction.

10636 N 71st Way – Sundown Plaza is a multi-tenant strip center formerly owned by Silverbell Plaza, LLC.  The corner lot property was built in 1973, tenants include Discount Tire, Starbucks, Jack in the Box and other popular businesses. The property is located just north of Shea Blvd., and is on the west side of Scottsdale Road.  Matt Zaccardi said, “The buyer, Jaylynn Properties, LLC was actively seeking investment properties like this center. Fortunately, Sundown Plaza had 100% occupancy, a solid tenant history, and was in the perfect geographic area for my client.”

The sale was valued at $1,950,000 ($145.52 per foot).

1929 N Rosemont, CPI, WEB

CPI sells 10KSF industrial property in Mesa

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of a 10,093 SF industrial warehouse building located at 1929 N. Rosemont in Mesa, Ariz. Andy Jaffe, SIOR and Rex Griswold of CPI’s Tempe Office represented both the buyer and the seller in this transaction.

The reinforced concrete building was built in 2000, and is part of a 85,000 SF project. 1929 N Rosemont is a single tenant building formerly owned by the Lawrence & Laurie Rudner Family Trust. KDS Properties, LLC purchased the property which is located just south of Loop 202 off McKellips Road, and west of Higley Road.  The building is conveniently located across from Falcon Field Municipal Airport.

The sale was valued at $812,500 ($80.50 per foot).

Velocity Retail, WEB

Velocity Retail Group reports recent transactions

Below is a summary of Velocity Retail Group, LLC recently completed transactions:

Goodwill Industries will be opening a new retail store at the southwest corner of Arizona Avenue and Riggs Road in Candler, Ariz.  Andy Kroot of Velocity Retail Group negotiated the ten-year lease of 27,600 SF on behalf of the tenant. The landlord, Greenway 32, LLC, was represented by Bob Rusing of Arizona Partners Retail.

Velocity Retail Group represented Tokyo Joe’s in a ten-year lease of 2,500 SFnorth of the northeast corner of Baseline Road and Val Vista Drive in Gilbert, Ariz. The landlord was represented by Trent Rustan of Commercial Properties.  A second Tokyo Joe’s was also signed at Chandler Pavilions at the southeast corner of Ray Road and Interstate 10 in Chandler.  The 2500 SF store will be opening in the former Barbeques Galore space during the 3rd quarter.  The landlord was represented by Cliff Johnston of Cassidy Turley BRE.

Integrity Staffing leased a 6,005 SF free-standing building at the Agua Fria Towne Center, located at the northeast corner of Camelback Road and Loop 101 in Glendale, AZ. Velocity Retail Group’s Judi Butterworth, Nick Ault, and Michael Clark represented the landlord. The tenant was represented by Michael Prochelo of Financial Management Group.

Nick Ault of Velocity Retail Group represented Yummi Sushi in a three-year lease of 3,797 SF at the northeast corner of Thunderbird Road and 32nd Street in Phoenix.  The landlord was represented by Reuel Couch of The Restaurant Brokers.

Representing the landlord at the Sun Village Fair Shopping Center at the NEC of Warner Road and Alma School Road in Chandler, Ariz., Michael Clark, John Jackson, and Larry Miller of Velocity Retail Group leased a 1,507 SF space to Third Party MVS Services on a five year lease. Sun Village Fair is one of eleven valley centers that Velocity Retail Group represents for owner NorthStar Realty Finance Corp.

Denny’s Restaurants was represented by Andy Kroot of Velocity Retail in the 10-year least of 5,695 SF at the NWC of I-17 and Dunlap Avenue, in Phoenix. The Winco/Conn’s Shopping Center was represented by Gordon Keig of Kornwasser Properties.

Larry Miller and John Jackson of Velocity Retail represented Edward Jones Investments in the five year lease of 1,100 SF at Lindsay Groves on the SWC of Lindsay Road and Germann Road in Gilbert, Ariz. The landlord was represented by Matt Zaccardi of CPI. Edward Jones Investments plans to relocate their Gilbert office to the new location in October of this year.

Miller and Jackson also represented The Sherwin Williams Company in the ten year lease of 4,000 square feet West of the Southwest corner of Happy Valley Road and 19th Avenue in Phoenix, AZ. The landlord, Happy Valley Towne Court, was represented by Jerry Roberts of NNN Amercia. The lease represents the first of several stores Sherwin Williams plans to open in 2015, as they expand their North Phoenix footprint.

Westfest LLC, owners of Desert Sky Festival located at the southeast corner of Thomas Road and 75th Avenue recently completed a 3-year lease with CFC financial for a 1200 square foot space.  Judi Butterworth from Velocity Retail, and Paul Serafin of De Rito Partners co-listed the project and negotiated on behalf of the Landlord.

Darren Pitts of Velocity represented Uptown Cheapskate in a five-year lease of 4056 square feet at Chandler Gateway shopping center located at the northeast corner of Chandler Boulevard and Chandler Village Parkway.  The landlord is Chandler Gateway SPE, LLC.  The retailer is a sister company of Kid to Kid, and will focus on teen and tween resale and new clothing and accessories.  The store is planning to open by 3rd quarter of this year.

7424 S Atwood Street, WEB

Commercial Properties Inc. reports its top transactions

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, reports its top transactions last week.

In total the firm completed 138 transactions in June for a total of 617,718 SF.

Leading the sales transactions category last week, Tyson Breinholt and Matt Zaccardi handled both sides of the deal for a ±45,016 SF office property sold to Pathfinder TRF P LLC, at 2045 S. Vineyard Ave. in Mesa for $2.35M.

In office sales, Brandon Koplin sold ±12,000 SF office condominium at 13034 W. Rancho Santa Fe Blvd., in Avondale, Ariz., to 525 S. Douglas St., LLC.  Koplin commented, “This sale/leaseback deal required a sophisticated buyer for a very complex transaction. The building sold for $1.4M cash, keeping the tenants in place.”

Jeff Hays, Chad Neppl, and Ryan Steele just closed an off market investment sale.  The ±19,012 SF Industrial building on approximately 2 acres of land is located at 331 S Price Road in Chandler, Ariz. The building sold to MDB 331 S. Price Rd., LLC for $1.3M.

Leroy Breinholt sold a ±14,863 SF industrial property at 7424 S Atwood Street in Mesa, Ariz., to 7424 S. Atwood, LLC, for $1,074,400. “The building was ideal for the owner/user, who plans to use the space as a local distribution center,” Breinholt.

2500 E Chambers Street

CPI sells 100KSF manufacturing building in Phoenix

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage,  announced the sale of a 99,969 SF industrial property located at 2500 E. Chambers St. in Phoenix. Jeff Hays, Chad Neppl and Ryan Steele of CPI’s of Tempe Office represented the seller, BH Chambers, LLC in this transaction.

The concrete tilt building was built in 1995 on ± 6 Acres in the South Airport Industrial Submarket. The single-tenant property is located just South of Roeser Road and East of 24th Street in Southern Garden Industrial Park.

Chad Neppl commented, “The Buyer, District Photo, required a quick close in order to get a jump start on their improvements for their upcoming peak holiday season.”  The ±100,000 square foot building met the buyer’s requirement for their production use.  This transaction was a win-win for both parties.”

The sale was valued at nearly $5.2 million.