May 25, 2018

AZRE

Latest deals from CBRE, ABI, Eagle Commercial Realty, C&W | PICOR

CBRE completes $6.4M sale of West 101 Gateway

CBRE has completed the $6.4 million sale of West 101 Gateway, a 50,040-square-foot office property located at 9520 W. Palm Lane in Phoenix. The value add offering was 96 percent leased to office and medical tenants, with an additional 19,411 square feet of space that will be coming available in the building at year’s end.

Barry Gabel, Chris Marchildon and Will Mast with CBRE Capital Markets, Institutional Properties in Phoenix, represented the seller, Founder’s Properties, LLC of Minnetonka, Minn.

“West 101 Gateway garnered a myriad of interested investors due to the quality of improvements, large site area, expansive parking field, strong historical occupancy, frontage along the Loop 101 Freeway and most notably, the leasing upside due to the pending availability,” said CBRE’s Marchildon.

Positioned on ±5.48 Acres, West 101 Gateway features large flexible floor plates, high-end finishes and design and a ±9/1,000 parking ratio. The property offers excellent visibility and proximity to the Loop 101 freeway and provides easy access to housing, entertainment, prominent retail centers and the 317-bed Banner Estrella Medical Center.

ABI Multifamily brokers $4.875M apartment sale

ABI Multifamily, the Western U.S.’s leading multifamily brokerage and advisory services firm, is pleased to announce the $4,875,000 / $65,000 Per Unit sale of the Eclipse Apartments, a 75-unit apartment community located in Phoenix, Arizona.

The two-story property is built of wood frame with stucco exterior and flat roofs. The attractive unit mix consists of (60%) two bedroom, (20%) one bedroom, and (20%) studio unit types, averaging 800 square feet. Eclipse Apartments contains four buildings and sits on a 2.62 acre site. All two bedroom units are individually metered for electricity with individual hot-water heaters. The community includes a pool, laundry facility, office, and easily maintained desert landscaping throughout.

“Eclipse Apartments provides the Buyer with an excellent opportunity to add value through interior renovations,” states Doug Lazovick, Partner at ABI who represented the Seller. “The Seller had purchased the property in 2015, executed an exterior renovation plan and had built-up enough equity to take advantage of the current market.”

The Seller was a private investor based in California. The Buyer was a private investor based in California.

The Phoenix-based ABI Multifamily brokerage team of Doug Lazovick, John Kobierowski, Alon Shnitzer, Rue Bax and Eddie Chang represented the Seller in this transaction.

Eagle Commercial Realty Services sell boat storage

Jeff Gorden and Kyle Topper of Eagle Commercial Realty Services have arranged the sale of Havasu Boat Storage in Lake Havasu City, Arizona. The boat storage facility sold May 14th, 2018 for $5,700,000. The property spans just over seven and a half acres and provides 316 units of boat storage. Eagle Commercial represented the seller in this transaction. 

Jeff Gorden shared the following about the sale: “This sale is reflective our commitment to the entire storage industry, large metropolitan operators and those in smaller markets and our expertise in RV & Boat Storage properties.  This was our sixth RV and boat storage property sale in the last 18 months.  This is a great asset for the new buyer with high renter demand and a great view of Lake Havasu.” 

Jeff Gorden and Kyle Topper, of Eagle Commercial Realty Services, AMO® in Phoenix, are the Arizona Broker Affiliates of the Argus Self Storage Sales Network and specialize inself-storagee and RV storage investment properties. 

Over the past fourteen months, the team has arranged the sale of 19 self storage properties for total consideration of nearly $70 million dollars. 

Gorden’s team is actively searching for additional Self Storage and RV Storage purchase opportunities nationwide. Send prospective properties to info@gorden-group.com or call 480-331- 8880.

Latest deals from C&W | PICOR

SALE 

John Dorris purchased a 2.88 acre vacant land parcel located at 4980 E. Canada St. in Tucson, from Arizona Buying Company, LLC for $215,964.00.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the buyer; Terrry Lavery with Realty Executives Tucson Elite, represented the seller. 

LEASE

Mettler–Toledo Thorton, Inc. renewed their lease for 8,050 square feet at 2102 N. Forbes Blvd., Suites 103-107 in Tucson, from East Park VI Holding Company, LLC.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Jesse Blum with CBRE, represented the tenant in this transaction.

Ironwood Gastroenterology, PLLC and Rehan Iftikhar, PLLC expanded their leasehold for an additional 3,883 square feet at 1951 W. Grant Rd., Suites 150 and 160 in Tucson, from Wright and Case Holdings, LLC. This expansion brings the total square feet for the gastroenterology practice to 10,657 square feet. Rob Tomlinson, Retail Specialist, and Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord; Esther Empens with Tierra Antigua Realty, LLC, represented the tenant.

Jack in the Box will construct and lease a 2,600-square foot restaurant located at Mission Rd. and Ajo Way in Park View Plaza,.    Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented Jack in the Box in this transaction; Richard Volk represented the landlord.

Acorn Associates Architecture, Ltd. renewed their lease for 1,837 square feet of office space at 5151 E. Broadway Blvd., Suite 1050 in Tucson, from Kent Circle Partners.  Tom Nieman and Rick Kleiner, MBA, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

The Facilities Company, LLC leased 1,725 square feet at 2341 S. Friebus Ave., Suite 13 in Tucson, from Friebus Investors, LLC.  Rob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

H&R Block Enterprises, LLC renewed their lease for 1,200 square feet in the Broadway Albertson’s Center, located at the NEC of Broadway Blvd. and Harrison Rd. in Tucson, from Grabbert Ranch, Inc.  Rob Tomlinson and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, handled this transaction. 

Jose Corral and Concepcion Leon leased 1,200 square feet in Plaza Azteca, 3553 S. 12th Ave., Suite 173 in Tucson, from NAI Investments, LLC.  Denisse Angulo-Badilla and Rob Tomlinson with Cushman & Wakefield | PICOR, handled this transaction.

 3 Wishes Tattoo and Supply Company, LLC leased 1,200 square feet in Grant Square, 4444 E. Grant Rd., Suite 121 in Tucson, from Kolvoord Family Limited Partnership.  Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Hilda Ramirez with HomeSmart, represented the tenant.

The Ballet of Conservatory Dance Music and Art, LLC expanded their leasehold for an additional 1,189 square feet at 6330 N. Campbell Ave., Suite 110 in Tucson, from HRA Paloma Village, LP. This expansion brings the total square feet for the studio to 5,247 square feet. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

Allan Goddard – Farmers Insurance, leased 1,129 square feet at 5403 E. Pima St. in Tucson, from DBR Investment Properties, LLC.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Bruce Suppes with CBRE, represented the tenant.

Ai-Yun and Mei-Ying Fang leased 1,080 square feet in Grant Square, 4444 E. Grant Rd., Suite 104 in Tucson, from Kolvoord Family Limited Partnership. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Daniel Yan and Chris Tsighis with Coldwell Banker, represented the tenant.

True Collectors, a vintage toy store, leased 950 square feet in Monterey Village Shopping Center, located at the SWC of Speedway Blvd. and Wilmot Rd. in Tucson, from Monterey Village, LLC.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

Presidio Hair and Nails leased 900 square feet in Central Point Business Plaza, 3955 E. Speedway, Suite 107 in Tucson, from Central Point Tucson, LLC.  Rob Tomlinson and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, handled this transaction. 

Hairdoer Studio, LLC leased 425 square feet of office space in Midstar Plaza, 4560 E. Broadway Blvd., Suites 229-230 in Tucson, from Midstar Partners, LLC. Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Monier Insurance leased 275 square feet of office space in El Dorado Square, 1200 N. El Dorado Pl., Suite D-430 in Tucson, from El Dorado Ventures, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Mark Monier, Monier Realty & Insurance, represented the tenant in this transaction.