ABI Multifamily brokers $6M Melrose District deal

ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $6,000,000 / $146,341 Per Unit sale of the 41-unit (of 60), Solterra on Fifth Condominiums in Phoenix, AZ. Solterra, originally built in 2006, features spacious 1 and 2-bedroom units with a weighted average size of approximately 841 square feet.

“Western Wealth Capital acquired the property several years ago having been attracted to the ‘A’ class asset’s up-and-coming location. With the numerous new developments and planned construction, the Seller’s instincts on the area’s transformation have been proven correct,” states Eddie Chang, Partner at ABI, who along with Doug Lazovick, Partner at ABI, were the lead brokers in the transaction.

The Solterra on Fifth Avenue Condominiums are located in Midtown Phoenix off 7th Avenue and Turney Avenue in the trendy Melrose District. The property is just minutes from hiking and dining hotpots along the famed-interior arterials of 7th Street, Central Avenue and 7th Avenue, as well as, SR- 51. Solterra is a gated community that sits on 1.98-acres of land, with (2) three-story buildings and features a community pool, elevators and view of the Phoenix skyline.

The Buyer, Skyline Companies, is a private investment firm based in Arizona.

The Seller, Western Wealth Capital, is private investment firm based in Canada.

The Phoenix based ABI Multifamily brokerage team of Eddie Chang, Doug Lazovick, John Kobierowski, Alon Shnitzer and Rue Bax represented the Seller in the transaction. Samir Sawhney of XCD Realty & Property management represented the Buyer.

Marcus & Millichap sells 55.2K SF net-leased property

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Safeway, a 55,228-square foot net-leased property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $8,258,000.

Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by John Susank, an investment specialist in Marcus & Millichap’s Newport Beach office.

“We continue to work closely with our Apartment Agents nationwide to assist in moving sellers out of their management intensive assets into more of a hands off long term investment,” says Medress. “The collaboration amongst the agents is second to none in the business and continues to yield unmatched results in the market.”

Safeway is located at 9100 N Silverbell Rd in Tucson.

The latest transactions from Cushman & Wakefield | PICOR

SALE

• Palmilla MP, LLC and Palmilla BCL, LLC purchased Vista Palmilla Apartments, a 57 unit complex located at 3828 E. Fort Lowell Rd. and Libertade Apartments, a 20 unit complex located at 3838 E. Presidio St. in Tucson, from Riderjak Properties, LP and Seajak Properties, LP for $2,725,000.  The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR, handled this transaction. 

• James and Sari Brody purchased Palo Verde View Apartments, a 24 unit complex located at 2438 N. Palo Verde Ave. in Tucson, from 2438 N. Palo Verde Avenue, LLC for $846,000.  The Multifamily team of Allan Mendelsberg and Daniel Leibsohn, with Cushman & Wakefield | PICOR, handled this transaction. 

• Tin Cup Properties, LLC purchased a 7,528 square foot retail building located at 1700 S. 6th Ave. in Tucson, from Mennonite Trust, Ltd. for $180,000.  Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

• Exodus Real Estate, LLC purchased 1.26 acres at 2190 E. Benson Hwy. in Tucson, from Ashland Group-Millennium, LLC for $95,900.  Rob Glaser, SIOR, CCIM Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller and Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the buyer. 

LEASE

• Founders Health Care, Inc., dba Preferred Home Care, renewed their lease for 17,260 square feet in Broadbent Industrial Center, 2155 N. Forbes Blvd., Suites 104 and 107 in Tucson, from Forbes Tucson, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Jesse Blum with CBRE, represented the tenant.

• T&T Cleaning & Restoration, LLC leased 14,278 square feet at 420 E. Columbia St. in Tucson, from Plastic and Metal Parts, Inc.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  

• LISCO leased 10,000 square feet of industrial space at 845 E. Ohio St., Suite 107 in Tucson, from 845 E. Ohio, LLC.   Brandon Rodgers, CCIM, Principal; Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, and Kelly Fickle, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

• KS Mission, LLC leased 8,457 square feet at 109 W. Ventura St. in Tucson, from Robert & Lynn Robley.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  

• Stevens Equipment Supply, LLC leased 6,000 square feet at 750 E. Ohio St., Suite 2 in Tucson, from Ohio Street Building  No. 2 Ltd., LLLP.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Josh Wyss and Tony DelDotto with Cushman and Wakefield Phoenix, represented the tenant.

• Silver Mountain Mining Operations, Inc. leased a 6,000 square foot industrial building located at 313 W. Sahuaro St. in Tucson, from Michael D. & Sandra D. Harris Living Trust.  Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

• Breathe East Automotive, LLC leased a 5,785 square foot building at 331 W. Adams St. in Tucson, from Oracle Gateway, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

• TEKsystems, Inc. leased 4,928 square feet of office space at 5151 E. Broadway Blvd., Suite 550 in Tucson, from Kent Circle Partners.  Tom Nieman and Rick Kleiner, MBA, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord; Jeff Casper with CBRE represented the tenant.

• Gearhead Motorwerks leased 4,000 square feet at 1546 S. Euclid Ave., Suite 100 in Tucson, from DBR Investment Properties, LLC.  Max Fisher and Brandon Rodgers, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.  

• PathogenDx, Inc. leased 3,175 square feet at 1220 and 1230 E. Pennsylvania St., Suite 102 in Tucson, from Rogers Real Estate Holdings, LLC.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

• Headquarters Hookah, LLC leased 3,000 square feet of retail space at Village on Broadway located at 2900 E. Broadway Blvd., Suite 118 in Tucson, from H.L.F. Properties, Inc.  Isaac Figueroa and Rob Tomlinson, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

• Mike’s Drilling, LLC leased 2,100 square feet at 7231 S. Comstock Rd. in Tucson, from Kevin and Diana Young.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  

• Charles L. Krone, M.D., PC leased 1,600 square feet of medical office space at 5200 E. Farness, Suite 100 in Tucson, from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

• Angularis, LLC leased 1,045 square feet at 5300 E. Erickson Dr., Suite 104 in Tucson, from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord and Sue Frizzell with Holladay Properties, represented the tenant. 

• J & J Image Makers leased 880 square feet at 5110 E. Speedway Blvd. in Tucson, from 5104 E. Speedway, LLC.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

• Horizons for Refugee Families leased 650 square feet at 4411 E. 5th St., Suite E in Tucson, from Midtown Professional Center, LLC.  Isaac Figueroa, CCIM, and Ryan McGregor, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

• AZ EZ Ride leased 500 square feet at 7100 N. Camino Martin in Tucson, from Dick Walker.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

• Agave Surgical Associates renewed their lease for 463 square feet at 5375 E. Erickson Dr., Bldg. G in Tucson, from TMC Holdings, Inc.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

• Kerr & Bowron, PLLC leased 437 square feet at 5315 E. Broadway Blvd., Suite 208A in Tucson, from the Jesson Properties, LLC.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant and Carl Weinstein with CHW Group, LLC, represented the landlord.