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.
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.
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.
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.
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.
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.
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.”
Jeff Hays, senior vice president of sales and leasing at Commercial Properties Inc., is starting his 30th year specializing in the industrial sector and will be the first to tell you that everybody’s busy and no one’s complaining.
LGE Design Build has 54 industrial projects either in the ground or in design, says President Dave Sellers. Brock Grayson, vice president of Layton Construction and co-chair of GPEC’s Community Building Consortium, shares the same sentiments with Layton’s 650KSF of build-to-suit and expansion projects in Arizona.
While LGE’s sweet spot, says Sellers, includes many manufacturing buildings and design-build projects for companies that won’t fit into a spec space, spec isn’t dead. About five spec industrial buildings are in the planning or permitting process. From Sellers’ perspective, the sector is suiting up, so to speak. In the last two months, Sellers says, LGE Design Build has received seven new build-to-suit projects. Layton Construction has also seen some build-to-suit demand. The rise in these projects for Layton has little to do with a declining interest in spec development, says Grayson and Layton Executive Vice President Andrew Geier. They’re just keeping busy with everything else.
Between the build-to-suits and the spec development, though, are the empty spaces contributing to deceptively high vacancy rates. These are the semi-obsolete industrial buildings that need some tenant improvement or a functional change.
A lot of businesses need excess land for more parking or equipment or yard storage, he adds. “It has become a lot more difficult to find quality buildings. That’s leading to some build-to-suits,” he says.
CPI has worked on a handful of distribution center build-to-suits, including Barrel of Fun in Tolleson and Legends Furniture. Unlike office and retail, there’s less interest in aesthetics as much as functionality — clear heights, power capabilities and square-footage.
It’s one thing that’s keeping obsolete industrial spaces from becoming dysfunctional. It’s about $25 per square foot to raise a roof, for instance, so office users looking for that industrial feel are more likely to take the old 16-foot industrial space than someone who is looking for the new 36-foot clear heights. Users are safer bets (they’ll pay more), but Hays says CPI is seeing more action from investors lately, particularly with those in California.
While the rents seem to have stabilized overall and absorption in 2Q was 4MSF, things still aren’t where they were. But CPI’s Hays isn’t concerned as long as the market can reach a happy medium. More end-users are upsizing, build-to-suits are seeing success and quality buildings are becoming harder to find. The effect of rising construction costs depends on the submarket in which a developer is looking.
The airport, East Valley and Deer Valley submarkets are seeing upward pressure on rental rates due to short supply of industrial space. In turn, CBRE Senior Vice President of Industrial Services, Pat Feeney, says the short supply of investment properties are putting downward pressure on cap rates for leased investments. The lack of available land is another way Feeney says developers can combat rising construction rates.
“Those that are lucky enough to own in these submarkets are really in the driver’s seat when it comes to tenant negotiations,” Feeney says. On the other hand, he says, the Southwest Valley submarket is “lethargic.”
“The next couple of large square footage users that lease space are going to be treated as the belle of the ball,” Feeney says. “I think that today the landlords are financially sound so it is unlikely we will see lease rates drop to the levels we saw in 2009 when the market was similar in terms of supply.”
“If it’s at the right price, someone will take it,” says Hays, adding that many class-B and -C industrial was absorbed for other uses during the downturn. “People are still looking for good quality buildings.”
A lack of leased warehouse product in the Southwest Valley available to investors, despite high demand, keeps values up, Feeney says. “Currently, the big box distribution user activity and inquiries are at a high level, but users in this group have been very slow to commit to executing leases,” says Feeney.
“However, it should be noted that while large users have been hesitant to commit, the 20KSF to 100KSF users have been extremely active. Users in this size range have been carrying the market so far this year with more than 1.3MSF of positive net absorption in the first half of 2014.
I believe that as soon as we see five to six large leases signed in the Southwest Valley big box distribution market, we will reach a balance of supply and demand that we have not seen since 2005 and 2006. I am very encouraged with the current condition of the market.” When big box distribution sees some absorption, he says, overall vacancy stands a chance at single digits.
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.
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).
OSA Janitorial Service of Phoenix recently was named a licensed dealer of Ceiling Pro International (CPI), a leader in the commercial ceiling cleaning industry. Based in Eden Prairie, MN, CPI was founded nearly 25 years ago and offers 18 bio-degradable, proprietary products to clean and sanitize ceilings.
OSA Janitorial Service has been owned by Brad Pierce since 2000. The company provides cleaning and janitorial services for restaurants, retail businesses, medical facilities, office buildings, grocery stores and charter schools in the Phoenix Metro area.
“Ceilings trap smoke, odor, grease, dust and other pollutants,” says Pierce. “Not only do they look bad, but also they can quickly become a sanitary problem. Clean ceilings improve your lighting for a brighter, cleaner look to any space. We wanted to provide ceiling cleaning as a service to our clients and selected CPI as the best company in the industry. Using their products and systems, we are able to clean commercial ceilings for 80 percent less than replacing the ceilings. This service is environmentally friendly as we are avoiding unnecessary waste in landfills.”
CPI clients include well-known companies such as McDonald’s, Burger King, Costco, John Deere and Whole Foods Market. Roderick C. Olson of John Deere recently had his company cafeteria cleaned using CPI products. “It was water-stained, smoke-stained and of course, grease-stained and hadn’t been cleaned for many years. When they were done, it looked like a brand new ceiling,” Olson says.
“Dirty ceilings lead to higher rates of allergies and sickness in your employees, which of course leads to lower productivity and higher medical costs if you provide benefits,” Pierce adds. “Also, some industries, like restaurants, face fines or penalties for improper care of their ceilings.”
County health departments, such as Maricopa County, inspect restaurant ceilings for cleanliness as part of their regular inspection process.
Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, announced the sale of Harris Park Professional Plaza. Tyson Breinholt and Shane McCormick of CPI’s Tempe Office Group represented both the buyer and seller in this transaction.
The 27,864 SF, Class B office building is located at 1550 E McKellips Road in Mesa, Arizona and has frontage on McKellips Road, just west of Gilbert Road.
“This transaction came together from my relationship with the out-of-state investor, Penco Properties, who was actively seeking replacement properties for some 1031 Exchange funds. Fortunately, Harris Park Professional Plaza completely met the needs of my client with 100 percent occupancy and a solid tenant history,” said Breinholt.
Harris Park Professional Plaza is a 100 percent leased, multi-tenant office building built in 2001 which was formerly owned by Harris Park Prof Plaza, LLC. Commercial Properties Incorporated picked up the property management account, and Breinholt and McCormick have retained the leasing of the property.
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).
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).
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).
Mary Ridberg and Rommie Mojahed represented the landlord to lease 1,403 SF of retail space at Lakeview Village to a yogurt shop. Lakeview Village is located at 67 S. Higley Road in Gilbert. Tyson Breinholt represented the tenant in the transaction.
Judy Jones, Mary Ridberg and Rommie Mojahed represented the owner of a former JB’s Restaurant located at 310 N. Litchfield Road in Goodyear in the leasing of the 5,012 SF building to Eggs and More Restaurant. Chip Diamond of Diamond Properties represented the tenant.
Sparky’s Shack leased 2,000 SF of retail space at Fort Knox Center, located at 1932 E. University Drive in Tempe. Mary Ridberg and Rommie Mojahed represented the landlord in the lease transaction. Dan Noma of Venture REI, LLC represented the tenant.
Mary Ridberg and Rommie Mojahed represented Firehouse Subs to lease 1,832 SF at Plaza at Mountainside, located at 4025 E. Chandler Blvd., in Phoenix. Dan Lupien of Kimco represented the landlord.
Erin Schrauth, Peter McQuaid and Greg Vanlerberghe represented the landlord at Main Street Shops in Mesa to lease 1,800 SF to AZ Gold Depot. Main Street Shops is located at 6336 E. Main Street in Mesa.
Mary Ridberg and Rommie Mojahed represented JJ’s Restaurant Group to lease 3,663 SF of restaurant space at Chandler Sunset Plaza, located at 4910 W. Ray Road in Chandler. The restaurant will operate as Duke’s Tavern. Brad Balboa of GDCRE represented the landlord.
Talk A Lot Wireless leased 1,094 SF of retail space at 17220 N. 19th Place in Phoenix. Mary Ridberg and Rommie Mojahed represented both parties in the lease transaction. This center is now fully leased!
Barbara McKenney represented the landlord at Northsight Village III to lease 2,608 SF to Impact Ultimate Wellness. The retail center is located at 14880 N. Northsight Blvd. in Scottsdale.
Ryan Mojahed represented Copper State Construction to lease 3,106 SF of retail space at 7125 E. Southern Avenue in Mesa.
Judy Jones, Mary Ridberg and Rommie Mojahed represented the tenant, Anthem RV & Boats, in a lease purchase transaction of 7,921 SF of retail space at 10801 W. Grand Avenue in Sun City.
Mary Ridberg and Rommie Mojahed represented the tenant, The Naegle Law Firm, PLC., to lease 2,681 SF at 3850 E. Baseline Road in Mesa.
Borg Property Services leased 630 SF of office space at Fiesta Crossing, located at 1660 S. Alma School Road in Mesa. Beau Flahart, Mary Ridberg and Rommie Mojahed represented both parties in the lease transaction. Also new to Fiesta Crossing, Excel Caregiver Training leased 646 SF of office space. Beau Flahart, Mary Ridberg and Rommie Mojahed represented both parties in the lease transaction.
Justin Horwitz represented the landlord at Warner Century Plaza to lease 2,219 SF of office space to Clear Title Agency. The office building is located at 2133 E. Warner Road in Tempe. Perry Gabuzzi represented the tenant.
Affinity Dental leased 4,058 SF of office space at 21321 E. Ocotillo in Queen Creek. Justin Horwitz and Nicole Ridberg represented the tenant.
Justin Horwitz, Nicole Ridberg and Neil Sherman represented the seller, Washington Federal Bank, in the sale of Pro One Plaza, located at 221 E. Indianola Avenue in Phoenix. The 14,000 SF freestanding building was purchased by an owner occupant, Garrison Bryan TI, LLC and Clifford L. Paul Living Trust for $825,000 and closed on May 23, 2014.
TriStar Engineering Management leased 3,742 SF of industrial space at Palm Valley Business Park, located at 13765 W. Auto Drive in Goodyear. Michael Gaida represented the tenant.
Commercial Properties, Inc., announced the sale of a 10,196 SF industrial service building located at 4041 W. Milky Way in Chandler, Ariz. Leroy Breinholt of CPI’s of Tempe office represented the owner in this transaction.
The masonry building was built in 2006, has a fenced yard, and is a single-tenant building formerly owned by Stellar Autoplex Sales & Leasing LLC. The property is located just South of Chandler Blvd., and West of McClintock Drive in Stellar Industrial Airpark.
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.
Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a 62,413 SF industrial property located at 900 North Fiesta Blvd., in Gilbert Arizona. Jim Stockwell of CPI’s of Tempe Office represented Rhodes Family Trust in this transaction.
The reinforced concrete building was built in 1999 and is a single tenant building formerly owned by the Md 900 Fiesta Llc. The property is 100% leased to Air Transport Components, and located just North of Guadalupe Road and East of Arizona Avenue in Gilbert Tech Center.
Jim Stockwell commented, “Rhodes Family Trust purchased the property as part of a 1031 tax deferred deal. The attractive component for the buyer was the long-term NNN lease tenant, Air Transport Components, that came along with the transaction.”
The sale was valued at $6.85 million.
Commercial Properties, Inc. announced the sale of a 74,514 SF industrial property located at 1620 W. Sunrise Blvd., in Gilbert Arizona. Jeff Hays, Chad Neppl, and Jim Stockwell and Mike Goldwater of CPI’s of Tempe Office handled both side of the deal.
Jeff Hays and Chad Neppl represented the seller, MJA Investments, Inc., and Jim Stockwell and Mike Goldwater represented Rhodes Family Trust in this transaction. The reinforced concrete building was built in 2000 and is a single tenant building which is 100% leased to Stara Technologies, Inc., just North of Elliot Road and West of McQueen Road in Sunrise Business Park.
Jim Stockwell commented, “Here is a little indication on CPI’s market saturation in the Phoenix Southeast Valley; Leroy Breinholt originally sold the lot for a build-to-suit project to LGE back in 2000. Jeff Hays and Chad Neppl leased it to Stara Technologies, Inc., in 2012. Then, Mike and I sold it to Rhodes Family Trust in a 1031 tax deferred, off market deal.”
The sale was valued at $6.65M.
Commercial Properties, Inc. announced the sale of a 72,570 SF industrial property located at 8100 W. Buckeye Rd. in Tolleson, Ariz. Andy Jaffe, SIOR of CPI’s Tempe office represented the buyer, Barnhart Crane and Rigging Company, in this transaction. The masonry building was built in 1998 and is a single tenant building near the corner of 83rd Avenue and Buckeye Road as part of a regional nuclear response center.
This center was established in response to the Fukushima accident in Japan in 2011 where power was lost to effectively cool the reactor. The Phoenix center will be capable of getting the necessary equipment on-site using air and ground transportation within 24 hours to any site in America.
Randy Edington, executive vice president and chief nuclear officer at Arizona Public Service Company, which operates the Palo Verde nuclear facility commented, “Equipment from the regional response centers will enable all nuclear plant operators to protect their reactors and used fuel storage pools until normal power and cooling systems are restored. This is an addition to other measures, including built-in safety systems, the use of on-site portable emergency equipment, and portable equipment and materials on hand at all 62 nuclear energy facilities that can be utilized and shared during an emergency.”
Each facility contains five sets of equipment including portable backup generators, pumps, standardized couplings and hoses to be deployed into the field, and will undergo regular testing for operability.
According to Andy Jaffe, SIOR, “Their final decision to occupy was the large amount of land on-site, and overhead doors that aligned for ease of ingress and egress of their equipment. Also, it was a clear spanned building, which permits movement of their equipment, and proximity to the airport and freeway accessibility were key factors.”
The sale was valued at $3.9 million.
Commercial Properties, Inc. (CPI), Arizona’s largest locally owned commercial real estate brokerage, reported its top transactions for last week.
In land sales, Bob Deininger and Donn Kinzle handled both sides of the deal for 8.7 acres of land located east of the southeast corners of Daisy Mountain Road and Meridian Drive to Merrill Gardens.
“Merrill Gardens is a family run company with 21 senior living communities located in Alabama, California, Nevada and Washington. Their plans include a brand new 123,000 square foot senior care facility which will address the needs of residents by focusing on their high standards of service, and long-term commitment to quality and security,” said Kinzle. Merrill Gardens purchased the property for $1,042,000.
Jeff Hays, Chad Neppl, and Ryan Steele leased a ±51,260 SF industrial property at 6902 W. Hadley Street in Phoenix to Brian and Serena Moran dba Sun Country Trailers and Towing Equipment, and PlayCraft Trailers. The 20 year old company will continue manufacturing all types of trailers and towing equipment at their new location on Hadley Street in Phoenix.
According the Jeff Hays, “The 6.75 acre site was formerly occupied by Wells Cargo Trailers, and came with a paint spray booth which made it ideal for the new tenant in the same line of business.” The terms of the lease were not disclosed.