Latest deals from SVN, NAI Horizon, C&W | PICOR

SVN sells owner/user office building in 30 days

The commercial real estate industry is about “Creating a Culture of Trust in Commercial Real Estate”.  This speaks volumes and it is also a newly released book written by Diane K. Danielson, the COO of SVN International Corp. that outlines the SVN philosophy.  At SVN Desert Commercial Advisors in Phoenix Rommie Mojahed, the Director of Retail Leasing & Sales Investments has been an exceptional leader and exemplifies the very brand every advisor should possess.

Last week Mojahed sold 14.44 acres of land in the west valley near the University of Phoenix stadium and Westgate Entertainment District.  The land sold for approximately $3.3M to a high-end luxury apartment builder in the valley. The buyer, Greg Hancock with Hancock Communities, LLC sees this as an opportunity to build new apartments in the area.  Mojahed just recently closed on another sale in Mesa.  The property is located at 3048 E. Baseline Rd. The 5,000 square-foot property sold from beginning to end in only 30 days.

Industry relationships are extremely important in the CRE industry and knowing your market, what property is available at any given time can be the key to 30-day closings. This deal rings true to the simple characteristics of well-organized advisor. Mojahed worked with Michael J. Smith, DDS and knew that he wanted to sell his building and when the buyer, Davis Dental Properties, LLC interest in the building, it was an easy connection for both parties. Mojahed represented the seller in the sale and wanted to sell. It was easy to identify the buyer and generate multiple buyers.

“This deal came together for both buyer and seller and we enjoy win-win transactions,” said Mojahed. It is essential to have the right people in place to make deals process quickly. Dr. Smith will enjoy retirement soon and the owner/owner user investment will soon prosper under its new name in Mesa.

Luxury apartment builder purchases land for $3.3M

SVN Desert Commercial Advisors was recently voted in the Top 3 brokerages by Ranking Arizona, AZ Big Media as the best of Arizona businesses. SVN was also voted in the top rankings for several other categories including the “Land” category. A great example is the recent sale in the west valley by the Director of Retail Leasing & Sales Investments, RommieMojahed and senior advisor, Beau Flahart for $3.3 million.

The property is located at 1610 N. 91^st Ave. in Phoenix. The land was originally proposed as an office park that ultimately never went into fruition, however it was not long before someone else came along to acquire the property. The property is located in close proximity to the University of Phoenix Stadium and close access to the I-10 freeway.  So much so, that the desirable property raised the interest of a high-end luxury apartment builder.  Mojahed and Flahart represented the seller, Wade Ferguson with Interchange Holdings, LLC.  The buyer, Greg Hancock with Hancock Communities, LLC sees this as a huge opportunity to turn this property into luxury apartments. 

Flahart stated, “It is amazing how much multifamily construction is happening right now.” SVN’s full service brokerage also provides investors many opportunities to buy and sell apartments at the brokerage. For Mojahed and Flahart, they have almost 20 land listings all across the valley. “There is such a strong growth in Arizona that creates new job opportunities. As a result, this creates a high demand for apartment living all across Arizona,” Flahart said. 

Besides multifamily development projects, you will also find that SVN has several listings in the southeast valley in areas that are growing at a fast paced.  Trending demographics point to San Valley, Queen Creek, Chandler, and Mesa.

Warehouse sale, land sale highlight recent NAI Horizon deals

The sale of a contractor’s warehouse in Mesa and a land sale, 15 acres within Maricopa County, highlight recent transactions closed by NAI Horizon professionals.

Sale Transactions:

Rick Foss and Tom Bean, CCIM, negotiated the sale of a 12,436 SF property, representing both the buyer, YBL, LLC, and the seller, DMW Properties, LLC, for $2.675 million. The property is located at 10646 E. Pecos Road, Mesa, AZ.

Mark Wilcke negotiated the sale of a 15-acre land property, representing the buyer, United States of America, for $907,200. The property is located south of the SEC of Litchfield Road and Glendale Avenue in Maricopa County. Chad Russell with Land Advisors represented the seller, M&S Land Investment Company, LLP.

John Toben negotiated the sale of a 7,100 SF office property, representing the seller 16^th Street Property Investments, LLC, for $800,000. The property is located at 7325 N. 16^th St., Phoenix, AZ. Jacques-Henri Munro with Munro Realty International represented the buyer, ADLS Inc.

Rick Foss negotiated the sale of a 1.832-acre land property, representing the seller, Nelson AZ Properties, LLC, for $466,841. The property is located at 0 E. Corporate Place, Chandler, AZ. Kent Hanson with Cushman & Wakefield represented the buyer, Unique Companies, LLC.

Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 3,900 SF office property, representing the seller, Troon, LLC, for $270,883. The property is located at 10031 E. Dynamite, Units 200, 205 and 210, Scottsdale, AZ.

Lease Transactions:

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, The Market at Estrella Falls, LLC, in a retail lease with Party City for 15,068 SF at 1981 N. Pebble Creek Parkway, Goodyear, AZ.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Queen Creek Fiesta, LLC, in a 120-month retail lease with Five Guys Burgers for 2,405 SF at 21545 S. Ellsworth Loop Rd., Queen Creek, AZ. Ben Craney with NAI Horizon – Tucson represented the tenant.

Tyler Smith represented the tenant, Landmark Title Assurance Agency of Arizona, LLC, in a 63-month lease at 7047 E. Greenway Parkway, Scottsdale, AZ. Mike Strittmatter with CBRE represented the landlord, JPMCC 2007-CIBC19 East Greenway, LLC.

Barbara Lloyd and Tom Bean, CCIM, represented the landlord, Tempe CC, LLC, in a 60-month office lease for 2,604 SF at 4515 S. McClintock Dr., Tempe, AZ. Tim Whipple with West USA Commercial represented the tenant, Coelho & Associates.

Matt Harper represented the landlord, Hope Thunderbird, LLC, in a 60-month retail lease for 1,584 SF at 13702-4 N. 51^st Ave., Glendale, AZ.

Tom Bean, CCIM, represented the tenant, Delante Solutions, LLC, in a 66-month retail lease for 825 SF at 960 W. University Dr., Tempe, AZ. Trent Rustan with CPI represented the landlord, 32 Gallon Investments, LLC.

Matt Harper represented the landlord, Puchhi, Inc., in a 12-month retail lease renewal for 1,020 SF at 9501 W. Peoria Ave., Peoria, AZ.

Matt Harper represented the landlord, Hillcrest Plaza, LLC, in a 12-month retail lease for 820 SF at 1241 E. Broadway Road, Mesa, AZ.

Here are the latest deals from C&W | PICOR

SALE 

Pelican 9^th, LLC purchased Sonoran on 9th Apartments, a 26 unit complex located at 814 & 838 E. 9^th St. in Tucson, from SVP Holdings, LLC for $4,550,000.  The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR, handled this transaction.  

West Ina Center Marana Arizona, LLC purchased an 8,917 square-foot building at 3662 W. Ina Rd. in Tucson, from Ina Meredith, LLC for $3,150,000.  Rob Tomlinson, Cushman & Wakefield | PICOR Retail Specialist, represented the buyer.  Rick Volk with Volk Company and Pete Villaescusa with CBRE, represented the seller. 

Vista Hermosa Apartments, LLC purchased Vista Hermosa Apartments, a 57 unit complex located at 3066 N. Balboa Ave. in Tucson, from FMTV, LLC for $1,920,000.  The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR, handled this transaction.  

Vista Hermosa Apartments, LLC purchased Mi Casitas Apartments, a 47 unit complex located at 252 W. Valencia Rd. in Tucson, from Valencia Tucson, LLC for $1,500,000.  The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR, handled this transaction.

Alex Rudnitsky purchased a 7,400 square-foot retail building located at 16256 N. Oracle Rd. from Berg Family Living Trust for $590,000.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

LEASE

SMI Imaging, LLC renewed their medical office lease for 4,000 square feet at 4566 N. 1^st Ave., Suite 100 in Tucson, from Rose & Friedman Investments, LLC.  Rick Kleiner, MBA, Principal and Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Kathleen Morgan with Newmark Knight Frank, represented the tenant.

Oro Valley Jiu-Jitsu, LLC leased 3,909 square feet from VPOVM, LLC, in Oro Valley Marketplace, situated at the corner of Oracle and Tangerine Rds., 1930 E. Tangerine Rd., Suite 190. Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction; Dave Dutson with NAI Horizon, represented the landlord.

Arizona Institute of Urology renewed their lease for 3,886 square feet of medical office space at 6565 E. Carondelet Dr., Suite 285A in Tucson, from Tucson 6565 Medical Properties, LLC.  Rick Kleiner, MBA, Principal, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Unscrewed Theater leased 3,425 square feet in Midway Business Park, 4500 E. Speedway Blvd., Suites 37-39 in Tucson, from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM and Paul Hooker with Cushman & Wakefield | PICOR, represented the landlord; Rob Tomlinson with Cushman & Wakefield | PICOR, represented the tenant.  

Amistades, Inc. renewed their lease for 2,250 square feet at 5501 N. Oracle Rd., Suite 125 in Tucson, from Survivors Trust.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant; Bruce Suppes with CBRE represented the landlord.

Caps & Corks, Inc. leased 1,975 square feet in Marana Marketplace, 3830 W. River Rd., Suite 100 in Tucson, from Marana Marketplace Partners, LLC.  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant; Melissa Lal with Larsen Baker, represented the landlord. 

A & J Automotive, LLC leased 1,750 square feet 8140 E. 22^nd St., Suite 140 in Tucson, from Autocare 22^nd Associates, LLC.  Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR represented both parties in this transaction. 

Intech Services, LLC leased 1,505 square feet in Midpoint Business Park, 3925 E. 29^th St., Suite 402 in Tucson, from Presson Midpoint, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

Martinez Construction leased 1,400 square feet at 3755 E. 34^th St., Suite 115 in Tucson, from Rodgers Investment Fund, II, LP.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

Tim Rehrmann leased 1,300 square feet of retail space from Costco Plaza, LLC for TimsTradeIn.com, the new home builder showroom located at I-10 & Orange Grove Rd., 3900 W. Costco Drive, Suite 168, in Marana. Greg Furrier and Diane Carlson, Retail Specialists with Cushman & Wakefield PICOR, represented the landlord.  Tim Rehrmann, New Home Builder Specialist with Keller Williams Southern Arizona, represented the tenant.  

Detroit Auto Detailing, LLC leased 1,200 square feet at 3755 E. 34^th St., Suite 107 in Tucson, from Rodgers Investment Fund II, LP.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.  

1A Smart Start renewed their lease for 1,200 square feet in Grant Interstate Commons, 1101 W. Grant Rd., Suite 206 in Tucson, from the Sloat Family Partnership, LLLP.   Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

Tom DeBerry, State Farm Insurance Agent, leased 1,000 square feet of office space at 3125 E. 2^nd St. in Tucson, from Agare, LLC.  Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.  

Landmark Barber Studio leased 960 square feet at 4343 N. Oracle Rd., Suite 125 in Tucson, from Wetmore Plaza Shops, LLC.  Dave Hammack, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant; Melissa Lal with Larsen Baker, represented the landlord.