Tag Archives: CPI

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).

JB's Restaurant in Goodyear, WEB

Sperry Van Ness reports recent summer transactions

RETAIL LEASES:
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.

OFFICE LEASES:
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.

OFFICE SALES:
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.

INDUSTRIAL LEASES:
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.

CPI, WEB

CPI sells 10KSF masonry building in Chandler

Leroy BreinholtCommercial 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.

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.

900 N Fiesta 01, CPI, WEB

CPI sells 62KSF industrial building in Gilbert

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.

Gilbert industrial, CPI, WEB

CPI sells 74KSF industrial property in Gilbert

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.

Airport Business Center

CPI sells 26KSF industrial property in Scottsdale

Bob Deininger, Commercial Properties, Inc.

Bob Deininger, Commercial Properties, Inc.

Commercial Properties, Inc. has announced the sale of a 26,010 SF industrial property located at 7830 East Redfield Road in Scottsdale, Arizona.  Bob Deininger and Craig Trbovich of CPI’s Scottsdale Office represented the buyer, DRD Properties, LLC, in this transaction.  Airport Business Center was built in 1984, and is a multi-tenant building near the corner of Redfield Road and Hayden Road within the  Scottsdale Airpark Industrial Park.

Craig Trbovich, Commercial Properties, Inc.

Craig Trbovich, Commercial Properties, Inc.

According to Bob Deininger, “DRD is a private equity investor who owns other properties here in the Valley.  This transaction was part of a 1031 exchange, and Airport Business Center was a perfect match for their multi-tenant, investment property requirements.”

The sale was valued at $2.65 million.  Bob & Craig have retained the leasing assignment for Airport Business Center, and may be contacted for additional information at bdeininger@cpiaz.com or ctrbovich@cpiaz.com or 480.966.2301.

8100WBuckeye Road, WEB

Nuclear response center in Tolleson sells

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.

Andy Jaffe

Andy Jaffe

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.

6902 W. Hadley St., Phoenix

CPI reports top land, industrial transactions

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.

1030 N Colorado Street

Commercial Properties, Inc., announces 22,186 sf office space lease in Gilbert

Commercial Properties, Inc. is pleased to announce the lease of 22,186 SF of office space located at 1030 North Colorado Boulevard in Gilbert, Arizona. Tyson Breinholt of CPI’s Tempe Office represented the new tenant, Ready Auto Transport, LLC, in this transaction. The property is a 37,037 SF multi-tenant building just east of South Country Club Drive, on the corner of West San Angelo Street and North Colorado Street.

According to Breinholt, “The new tenant, Ready Auto Transport, LLC has over 30 years of experience transporting automobiles throughout the United States. The company endeavors to provide the most accurate and cost effective auto shipping services available throughout the nation.”

Chris Hook and Michael Conner of CBRE represented the Landlord.

Tyson Breinholt may be contacted for additional information at 480.966.7513

Brookwood

Commercial Properties Inc., secures 22,112 SF for Brookwood Commerce Centre

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the lease of 22,112 SF of office space at Brookwood Commerce Centre located at 4425 West Olive Avenue in Glendale, Arizona.  Eric Butler of CPI’s Scottsdale Office represented the landlord, 4425 W Olive Ave LLC, in this transaction.  Brookwood Commerce Centre is a 209,174 SF multi-tenant office building near the corner of 43rd Avenue and West Dunlap Avenue.

Eric ButlerAccording to Eric Butler, “The tenant, Empact-SPC has been committed to working with public and private partners to solve community problems for more than 40 years.  They provide community and cultural education to make all our communities safer, stronger and healthier using their expertise to address behavioral health, housing, family and children’s services, employment and crisis intervention issues.”

Eric may be contacted for additional information at 480.522.2788.

819-835 W. 22nd St.

Commercial Properties Releases Transaction List

Commercial Properties, Inc. reported its top five recent transactions.

In total the firm completed 128 transactions in March for a total of 888,662 SF.

Leading in sales transactions was Leroy Breinholt and Darin Edwards, who handled both sides of the deal for a 42,886 SF Industrial space sold to WNG Industrial, LP, at 819 – 835 West 22nd Street in Tempe for $2,250,000.

In land sales, Eric Butler and David Verwer sold approximately 4 acres for the owner at 6424 E Cave Creek Road, in Cave Creek, Arizona to Schuey, LLC, for  $973,420.

Ken Elmer leased a ±4,600 SF retail space at 10330 N. Scottsdale Road in Scottsdale to Arizona Urgent Care,LLC in the Total Wine Center.  “This pad building is just south of Shea Blvd on the Scottsdale road frontage, and was formerly occupied by Alphagraphics,” said Elmer.

Jeff Hays, Chad Neppl and Ryan Steele sold approximately 2 acres of industrial land at 4010 E. Raymond Street in Phoenix to McGilicuddy Industrial Partners, LLC, for $670,000. “The buyer is planning to construct a  ±30,000 SF Office/Warehouse freestanding building,” said Hays.

Andy Jaffe, SIOR handled both sides of the deal and sold a 5,500 SF office property at 5020 N. 8th Place in Phoenix for $550,000 to 777 Properties, LLC.  “This was an essential piece of a larger deal which Earnhardt’s has planned for a Lexus Dealership at Camelback Road and 8th Place,” said Jaffe.

3195 E 36th Street, WEB

CPI Sells Industrial Property in Tucson

Commercial Properties, Inc., announced the sale of a 31,682 SF industrial property located at 3195 E 36th Street in Tucson. Chad Ackerley of CPI’s Tempe office represented the new owner, Hercules Capital, the parent company of Hercules Industries from Denver. Hercules Industries manufactures and distributes high-end HVAC equipment and sheet metal, and is one of the largest of its kind in the Western and Midwestern regions of the United States.

“Increasing the footprint four times its current 8,000 SF location, indicates the future growth Hercules sees for the construction Industry in Tucson,” Ackerley said.

The seller, Horizon Relocation Services, a local moving company, was recently acquired after being family run for 90 years in Tucson by Suddath Relocation Systems in Jacksonville, Fla. Steve Cohen of Cushman & Wakefield represented Horizon in the transaction.

The sale was valued at $1.7M ($53 PSF) with 2.6 acres.

Lisa Harryman, WEB

Lisa Harryman Joins CPI

Commercial Properties, Inc. announced Thursday the appointment of Lisa Harryman as director of property management.

Harryman brings more than 30 years of commercial property, operations, association management and receivership services experience to the director’s position with Commercial Properties. As director, she is responsible for managing the day-to-day operations of CPI’s property management division, and overseeing a portfolio of 130 projects, totaling more than 4.5 MSF. Harryman’s diverse background includes the management of office, retail, industrial, hotel, estate, association, multi-family and aviation leased and owned properties. Over her vast career, Harryman has also worked for such firms as Mesirow Financial Real Estate, Shorenstein Realty Services, Biltmore Management, Victoria Properties and Cushman & Wakefield.

A Certified Property Manager (CPM), licensed broker and a member of the Institute of Real Estate Management (IREM), Harryman proudly earned the BOMA-Toby Award in 2012. Harryman has been an intricate part of property management and construction management for the developers/owners on local projects. Specifically, she served as the real estate manager for the  Scottsdale Waterfront and was the president/designated broker for The Brickyard on Mill. Additionally, she managed core, shell and TI construction on multiple projects.

8836 N 23rd

CPI’s Top 5 December Transactions

Commercial Properties, Inc., CPI, completed 137 transactions in December for a total of 493,145 SF. It announced the following top 5 transactions:

Leading the Lease Transactions Category, Tenant Representatives Eric Butler and David Verwer leased out 10,000 SF of Office space to USDA-APHIS, at 8836 N. 23rd Avenue in Phoenix.

In industrial sales, John G. Soldo, SIOR sold a 6,000 SF property for the owner at 4346 E. Magnolia Street, Phoenix, to The Jerome P Barnier Jr Revocable Trust, totaling $1,845,000.

Chad Merwin and Phill Tomlinson sold a 4,136 SF Retail space at 10817 W. Indian School Road in Avondale to IPS, Inc, for $1,325,000.

Vice President Sarge Glenn sold a 6,703 SF Retail property at 1721 N. Arizona Avenue in Chandler to Trustees of the Michael & Phyllis Dindio Trust, for $1,075,000.

Lastly, Don Shikles brokered a 12,428 SF Industrial property at 4941 W. Magnolia Street in Phoenix $940,000 for 4941 W. Magnolia, L.L.C.

CPI Industrial Chrisman Lock Chiang

CPI Closes Deal on 88,774 SF Industrial Property

Commercial Properties Incorporated (CPI) announced the sale of an 88,407 SF Industrial property located in Phoenix.

John Soldo and Leroy Breinholt of CPI’s Industrial Team represented the buyer, Chrisman Lock Chiang, in the recent purchase of 43 North 48th Ave. in Phoenix.

“Chrisman Lock Chiang is a tool and manufacturing owner/user from California who purchased this building for cash.  The property sits on approximately 4 acres of land,” Soldo commented.

The sale was valued at $2.5 million ($28.27 per square foot). Jerry McCormick and Cooper Fratt of CBRE represented the seller, Atkinson Land Holdings, LLC in this transaction.

3510 E. Atlanta Ave.

CPI Sells Two Industrial Properties in Phoenix

Jeff Hays and Chap Neppl.

Jeff Hays and Chap Neppl.

Commercial Properties Incorporated (CPI) proudly announces the sale of two industrial buildings located in Phoenix.

Jeff Hays and Chad Neppl of CPI’s Industrial Team with Tom Snider of Cassidy Turley in San Jose represented the seller, Hadco Corporation for 3510 E Atlanta Avenue property. Hadco Corp, is a technology firm owned by San Mina-SCI Corporation in San Jose, California that previously renovated and occupied the property. Jeff Hays and Chad Neppl fully leased the property to Eberle Design Inc, and Electronic Devices, Inc prior to selling it to the new owner, Dunbar Atlanta Ave, LLC.

3502 E. Atlanta Ave.

3502 E. Atlanta Ave.

“Dunbar, a real estate investment firm from California purchased this 100 percent AC, flex building on approximately 2.21 acres of land,” Hays commented.

The sale was valued at $2.15 million ($71.48 per square foot). Ken McQueen of Lee & Associates represented the buyer in this transaction.

In addition, Jeff Hays and Chad Neppl also represented Hadco Corporation on the investment sale of a 25,430 industrial building at 3502 E. Atlanta Ave. in Phoenix.

“Harry Ross Industries, a private investor from California, paid cash for the 1.96 acre property after we had the building fully leased to Joe Enterprises, Inc,” said Hays.

The sale was valued at $1.78 million ( $70 per square foot). Pat Takash of PT Properties represented the buyer.

These two industrial properties represent two of the four buildings Hadco Corporation occupied previously. Currently, CPI is marketing a 16,194 SF and a 15,553 SF property that both Jeff Hays and Chad Neppl have available for sale or lease.

Jaffe

Andy Jaffe Joins Education Advisory Committee at AZDRE

Commissioner Judy Lowe of the Arizona Department of Real Estate has reappointed Andy Jaffe, SIOR, Sr. Vice President at Commercial Properties Incorporated, as the only commercial broker on the committee.  The Education Advisory Committee was established to assist the Arizona Department of Real Estate and endeavors to protect the public by raising the standards for education and continuing education in the Arizona Real Estate industry.

“Not many people have an opportunity to contribute to the efforts of the Education Advisory Committee, I’m honored to be selected,” remarks Jaffe.  The Education Advisory Committee is made up of 14 volunteer members from various backgrounds including, attorneys, escrow, lending, real estate instructors, real estate school admin/owners, residential and commercial real estate licensees, and partners.  “As a committee, we are working to bring change in continuing education for professionals in the Arizona Real Estate industry.  Ms. Lowe is very proactive and experienced in supporting legislation for increasing the diversification of continuous real estate education courses.  One of the goals of the committee is to help ensure that Arizona Real Estate courses will be more tailored toward the specialties of the individual,” says Jaffe.

rsz_2631_n_37th_drive

CPI Announces Sale Of 13,783 SF Phoenix Property

 

Commercial Properties Incorporated (CPI) announced the sale of a 13,783 SF property in the West Valley at 2631 N. 37th Dr. in Phoenix.

Jeff Hays and Chad Neppl of CPI’s Tempe office represented the new owner, Little Grand Canyon, an Arizona Limited Liability Company.

“As an owner/user purchase, this industrial distribution building was attractive since it already had a truck well, heavy power and was ideally located for their business,” Neppl said.

The sale was valued at $715,000 ($51.87 per square foot). The seller was Phoenix Highway Products, Inc.

 

rsz_900_northfiestablvd1

CPI Announces Sale Of 62,413 SF Property In Gilbert

 

Commercial Properties Incorporated (CPI) announces the sale of a 62,413 SF property in the East Valley at 900 N. Fiesta Blvd. in Gilbert.

Jeff Hays and Chad Neppl of CPI’s Tempe Office represented the buyer – MD 900 Fiesta, LLC – based in Lincoln, Neb.

The seller, United States Postal Service, was represented by Dan Calihan and team from CBRE. USPS had occupied the site as a distribution facility since its construction in 1999. The site has now been leased to Air Transport Components, Inc. and will be redeveloped to meet its specific needs.

“ATC is an established company with a worldwide customer base including major airlines, parts distribution suppliers and aircraft manufacturers/aerospace companies,” Hays said. “The construction schedule will allow ATC to take occupancy effective December 1, 2013.”

The sale was listed at $2.975M ($47.67 per square foot).

OLYMPUS DIGITAL CAMERA

CPI Announces Sale of 53,823 SF Property in Mesa

 

Commercial Properties Incorporated (CPI) announces the sale of a 53,823 SF property in the East Valley at 6402 E. Superstition Springs Blvd. in Mesa.

Ken Elmer of CPI’s Scottsdale office brokered the sale for Westwind Holdings, LLC in Chandler to the new owner, Tierra Properties VII, Prescott.

“This high-quality office space ideally matched the buyer’s criteria, and even more appealing, was its 89% occupancy rate,” Elmer said.

The sale was valued at $7.1M ($131.91 psf).

CPI and Elmer have retained the property leasing rights with the new owner.

 

rsz_former_cork_&_cleaver_street_view

Commercial Properties Inc. Announces Lease of Former Cork & Cleaver Restaurant For New Mastro's Concept

 

 

Mastro’s Restaurants, famous for Mastro’s City Hall Steakhouse in Scottsdale, signed a lease with Randy Buncheck, managing Director of Westwood Financial, for its newest restaurant concept, Steak 44.

The new restaurant will be located at 44th St. & Camelback Rd. in Arcadia. Josh Gosnell and Trent Rustan of Commercial Properties, Inc., represented Mastro’s in identifying the location at the NEC of 44th Street and Camelback, in the Camelback Village Center.

Gosnell and Rustan ultimately negotiated the 7,136 SF lease of the former Cork & Cleaver restaurant.

“This is truly a great location for a restaurant, and it deserved the best steak operator. Nobody does it better than Mastro’s,” Rustan said. “Steak 44 promises to offer its own unique design elements while keeping true to the Mastro’s goal — to provide every guest with a truly memorable experience.”