Latest deals from Cushman & Wakefield, Marcus & Millichap, ORION

Real Estate | 6 Sep, 2018 |

Tempe warehouse/manufacturing building sold for $7.5 million

Cushman & Wakefield announced that Scottsdale-based G2 Capital purchased the warehouse/manufacturing building, located at 550 W. Southern Avenue in Tempe, Ariz., from Southern Paramount, LLC, an investment group based in Calgary, Alberta. Sale price was $7.5 million.

Steve Lindley, Bob Buckley, and Tracy Cartledge with Cushman & Wakefield Phoenix’s capital markets group negotiated the transaction on behalf of the seller.

550 W. Southern Avenue is an industrial warehouse/manufacturing facility totaling 130,279 square feet.  It is currently occupied by a manufacturing tenant who will be vacating at the end of the year.

“G2 Capital recognized the opportunity to purchase the asset while its tenancy was in transition,” said Lindley. “They plan to complete a renovation of the property while marketing to a new user.”

Situated on 9.78 acres, the property features functional configuration for industrial tenants – including over 38-foot clear height, dock-high and grade-level loading, and strong 1,600 amp electrical service.

Marcus & Millichap sells 22-unit complex

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 2201 E. Roosevelt, a 22-unit apartment complex located in Phoenix, Arizona. The asset commanded a sales price of $1,750,000 or $79,545 per unit. 

Rich Butler, a Senior Vice President Investments specializing in multifamily product in Marcus & Millichap’s Phoenix office had the exclusive listing and negotiated the transaction on behalf of the seller, a local family partnership and the buyer, an out-of-state exchange investor. 

“Built in 1963, 2201 E. Roosevelt is comprised of recently remodeled studio apartment homes. All units are partially furnished and include new faux wood laminate flooring, new windows and double entry French doors, updated bathrooms and kitchens with granite countertops, as well as new individual HVAC units. In addition to the interior upgrades, the owner has also invested in exterior enhancements including security entrances, paved courtyard and driveway, barbecue area with granite bar, as well as updated landscaping,” said Butler.

The property is located at 2201 E. Roosevelt Street in Phoenix, Arizona.

Marcus & Millichap sells LA Fitness in Tucson

Marcus & Millichap announced the sale of LA Fitness, a 45,000-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 $9,299,185.

Mark Ruble, Mark Thiel and Jamie Medress 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 private investor, was secured and represented by Mark Ruble, Mark Thiel and Jamie Medress.  LA Fitness is located at 9350 E Golf Links Rd in Tucson, AZ.  

ORION represents seller in Glendale shopping center $5.85M closing

Closing for $5,850,000, or $113 per square foot, Brittany Square totals approximately 51,554 square feet and includes two pad buildings. Brittany Square is located at the major signalized intersection of 67th Avenue and Peoria. There was a tenant expansion during escrow, which increased occupancy to 64% at close.

Nick Miner, CCIM, of ORION Investment Real Estate exclusively represented the Seller, Arizona Brittany Square, LLC. Miner said, “I assisted the Seller in purchasing this property over 12 years ago and was extremely appreciative of the ability to assist them recently in the disposition of the property.” The Buyer, T Brittany Square, LLC, was in a 1031 Exchange and was purchasing this property along with another property out of state. The Buyer liked this property because it fit their typical profile of purchasing properties that they can re-lease and then parcel off as part of their value-add strategy that they employ.

ORION represents buyer in Mesa industrial warehouse sale

ORION Investment Real Estate announced the sale of a multi-tenant, 3 bay industrial building in a well-established industrial area of Mesa. The +/- 6,768 building sold for $600,000, or $88.65 per square foot. The property features roll-up doors, fenced yard and approximately 14′ clear height.

Nick Miner, CCIM, of ORION represented the Buyer in this transaction. Miner said, “My client purchased this property because it allows for him to expand his new business line. This property worked very well for his long-term plans.” The Buyer, Fox Den, LLC, will use one bay; one bay was leased at closing and the new owner will lease out the last bay on a short-term basis until they need space for their planned expansion.

The Seller, Visionary Investment Properties, LLC, was represented by Brad Burress of Cutler Commercial.

Latest deals from Cushman & Wakefield | PICOR

SALE 

Pearl Peak, LLC purchased a 6,008 square-foot medical office building located at 7510 N. Oracle Rd., Suite 100 in Tucson, from CCSAM Revocable Trust for $2,165,844. Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the buyer; Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the seller.  

The WAA GST Exempt Trust purchased a 15,718 square-foot industrial building at 501 S. Toole Ave. in Tucson, from JBM Technologies, LLC for $1,468,000. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller; Garland Shaw with Ventura Properties, LLC, represented the buyer. 

Via Real Estate, LLC purchased a 0.76 acre vacant land parcel at 220-222 W. Irvington Rd. in Tucson, from Kenneth Fenster and Mary A. Vine for $333,100.  Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the seller; Bruce Jeppson with Jeppson Commercial, represented the buyer.

Tuaz Management Group, LLC purchased 32nd Street Apartments, a 12-unit complex located at 419-423 E. 32nd St. in Tucson, from 32nd Street Properties, LLC for $290,000.  Allan Mendelsberg, Multifamily Specialist with Cushman & Wakefield | PICOR, handled this transaction.  

Valley Wide Plastering purchased a 2,538 square-foot building at 1914 S. Country Club Rd. in Tucson, from The Thomas W. Mosier, Jr. & Ginger Susan Mosier Revocable Trust for $220,000.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller; Jerry Chadwick with Long Realty Partners, represented the buyer. 

8469, LLC purchased a 0.98 acre vacant land parcel at 5551 S. Nogales Hwy. in Tucson, from L.M. and P.M. Kleiman Trust for $100,000.  Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction.  

LEASE 

Houwelings Nurseries Oxnard, Inc. leased 22,538 square feet at 772 W. Frontage Road, Suite 3 in Nogales, Arizona, from Nogales Warehouse, LLC. Denisse Angulo-Badilla, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Louie Morales with Century XXI Nogales, represented the tenant.

Sun Valley Supply renewed their lease for 22,398 square feet at 2450 N. Flowing Wells Rd. in Tucson, from Starr Family Trust.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Eye Care and Cure Corp, Inc. leased 16,500 square feet at 3391 E. Hemisphere Loop in Tucson, from Hemisphere Loop, LLC. Rob Tomlinson and Brandon Rodgers, CCIM, with Cushman & Wakefield | PICOR, represented the landlord in this transaction; Gordon Wagner and Dave Blanchette with NAI Horizon, represented the tenant.

American Technologies, Inc. leased 15,320 square feet at 2811 N. Flowing Wells Rd. in Tucson, from Keenan Investment Company. Paul Hooker, Stephen D Cohen, and Russel W Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the tenant in this transaction.  Gary Emerson with GRE Partners, represented the landlord.

Tolin Mechanical Systems Company, Inc. leased a 9,612 square-foot industrial  building at 3810 S. Evans Blvd. in Tucson, from 3800 S. Evans Blvd., LLC & David C. Investments, LLC.   Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Mike Snitz with Realty Executives, represented the tenant.  

Academy of Mathematics and Science, Inc. leased 6,014 square feet at 2980 N. Campbell Avenue, Suite 130 in Tucson, from Campbell Plaza Two, LLC. Ryan McGregor and Tom Nieman, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction; Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant.

ResCare Residential Services Arizona, LLC leased 5,807 square feet at 1200 N. El Dorado Place, Suites C300 & A100 in Tucson, from El Dorado Ventures, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord; Buss Isaacson with Buzz Isaacson Realty, LLC, represented tenant.

3D Smiles, LLC leased 5,000 square feet at 1671 S. Research Loop, Suite 133 in Tucson, from Tin Cup Properties, LLC. Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

True Potential, PLLC renewed their lease for 4,128 square feet at 620 N. Country Club Rd. in Tucson, from Siegmund Properties, LLC. Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Orthomed, LLC leased 3,744 square feet at 1055 N. La Canada Drive, Suites 123 & 127 in Green Valley, from HR Acquisition I Corporation. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction; Jeff Casper with CBRE, represented the tenant.

Vibrance, LLC leased 3,732 square feet at 3100 N. Stone Ave., Suites 104 & 200 in Tucson, from 3100, LLC. Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

Midtown Artisans leased 3,600 square feet at 245 S. Plumer Ave., Suites 18, 19, and 20 in Tucson, from Plumer Partners, LLC.    Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.   

Camp Lowell Surgery Center leased an additional 2,463 square feet of expansion space for administrative needs at the Shops at Creekside, 3175 N. Swan Rd. in Tucson, from Swan Retail, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction.  

Hamilton Medical Consultants, Inc. leased 2,400 square feet at 2470 W Ruthrauff Rd. in Tucson, from Presson Scottsdale, LLC. Rob Glaser, SIOR, CCIM and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction. 

Vector Fire Technology leased 2,120 square feet at 3250 S. Dodge Blvd., Suites 9,11 &12 in Tucson from Presson Corporation.  Max Fisher and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord and tenant in this transaction.  

We Fix Ugly Houses, LLC leased 2,085 square feet at 3250 S. Dodge Blvd. in Tucson, from Presson Corporation.     Max Fisher and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord and tenant in this transaction. 

Sunrise Engineering, Inc. leased 1,500 square feet at 4585 S. Palo Verde Rd., Suite 413 in Tucson, from Presson Equity Partners, LLP. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; James T. Lavery with Lavery Realty, represented the tenant. 

Goodwill leased 1,500 square feet from Vail-SSC, LLC, for a drop-off store in the new Vail Safeway Shopping Center. Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Lynn Taylor with Whirlygig, represented the tenant.

Brock Cabinetry, LLC leased 1,500 square feet at 3538 N. Romero Road, Suite 160 in Tucson, from Costa Verde Investments, LLC.   Ron Zimmerman, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Dean’s Plumbing leased 1,500 square feet at 3538 N. Romero Rd., Suite 172 in Tucson, from Costa Verde Investments, LLC. Ron Zimmerman, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

All Copy Products, Inc. leased 1,440 square feet in Exchange Place Business Center, 1870 W. Prince Rd., Suite 10 in Tucson, from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Max Fisher, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord; Dave Blanchette with NAI Horizon, represented the tenant.

JSAS Services, Inc. leased 1,440 square feet at 3865 E. 34th St. in Tucson, from AP & D Investments, LLP. Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Integra Group Real Estate leased 1,390 square feet at 850 E. Ohio St., Suite 9 in Tucson, from RRL, Inc.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. 

Farmers Insurance leased 1,272 square feet at 4500 E. Speedway, Suite 113 in Tucson, from Presson Midway, LLC. Rob Glaser, SIOR, CCIM and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.   

About Me Hair Salon leased 1,244 square feet, at the new Vail Safeway Shopping Center located at Colossal Cave and Mary Ann Cleveland Way, from Vail-SSC, LLC.  Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. 

Tito’s Pizza leased 1,200 square feet in the Rancho Sahuarita Marketplace, Pad 3, Suite 140 in Sahuarita, from Rancho Sahuarita Commercial Ventures, LLC.  Dave Hammack and Aaron LaPrise, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord; Valerie Schuyler with Partners Management & Consultants, Inc., represented the tenant. 

The Arizona Waterman, LLC leased 1,200 square feet at 3220 S. Dodge Blvd., Suite 7 in Tucson, from Presson Corporation. Max Fisher and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented both parties in this transaction.   

Gamebro, a board game, toy and collectible retailer, leased 1,156 square feet at Berkshire Village Shopping Center, located at 8546 E. Broadway Blvd. in Tucson, from JMK Family Properties, LP. Aaron LaPrise, Rob Tomlinson, and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, handled the transaction.  

Nesco Resources, LLC leased 1,020 square feet at 4400 E. Broadway, Suite 807 in Tucson, from 4400 Broadway, LLC.  Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction; Michael Gross with Tucson Realty and Trust Co., represented the landlord.

Gary Panttila leased 1,000 square feet at 2112 N. Dragoon St., Suite 8 in Tucson, from Rich Rodgers South, Inc.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction.

Larsa Comunicaciones, LLC leased 780 square feet at 1100 E. Ajo Way, Suite 207 in Tucson, from 15100 Family Limited Partnership.  Kelly Fickle, a member of the Cushman & Wakefield | PICOR, Russell W. Hall, SIOR, GSCS and Stephen D. Cohen team,  represented the landlord; Denisse Angulo-Badilla, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant. 

Option Care Enterprises, Inc. leased 597 square feet at 5880 N La Cholla Blvd, Suite 126 in Tucson, from La Rubia, LLC. Ryan McGregor, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction; Kevin Rogers with Jones Lang and LaSalle, represented the tenant. 

Blue Sky Marketing Group, Ltd. leased 590 square feet at 215 W. Giaconda Way, Suite 101 in Tucson, from Giaconda 205 Partners, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction; Alan Moore with Chapman Lindsey, represented the tenant.

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