Trio of Arizona self-storage deals highlight recentNAI Horizon deals
A trio of self-storage facility deals worth a combined $13.25 million closed by Senior Vice President Denise Nunez highlight recent transactions closed by NAI Horizon professionals.
Sale Transactions:
Denise Nunez negotiated the sale of a 101,891 SF self-storage property in Tucson, AZ, representing the seller, LPG Associates, for $7.15 million.
Denise Nunez negotiated the sale of a 5.03-acre self-storage entitled, permit-ready site, representing the seller, Happy Valley Self Storage Partners, LLC, for $3.2 million.
Denise Nunez negotiated the sale of a 4.8-acre self-storage entitled, permit-ready site, representing the seller, Waddell & Litchfield Self Storage Partners, LLC, for $2.9 million.
Laurel Lewis negotiated the sale of a 3,775 SF office property, representing the buyer, NRC, LLC, for $540,000. The property is located at 1608 W. Earll Dr., Phoenix, AZ. Mike Coover with Cushman & Wakefield represented the seller, 1608 E. Earll Building, LLC.
Tom Bean, CCIM, and Rick Foss negotiated the sale of an industrial property, representing the seller, Erin M. Glenn, PR for Estate of Robert William McIntire, for $410,000. The property is located at 918 E. Broadway Rd., Phoenix, AZ. Jack Cardinal with Cooper Cardinal & Company represented the buyer, David Michael Sweetman Family Trust
Barbara Lloyd, Lane Neville and Logan Crum negotiated the sale of an office property, representing the seller, Lexbrooke Properties, LLC, for $387,000. The property is located at 7420 E. Pinnacle Peak Rd., Building D, Scottsdale, AZ.
Matt Harper and Michael Gaida negotiated the sale of a 2,500 SF retail property, representing the seller, Fineline Properties, LLC, for $355,000. The property is located at 13331 W. Indian School Rd., Litchfield Park, AZ. Johnnie & Tarja Panfill with West USA Realty represented the buyer, CWS AZ, LLC.
Lease Transactions:
Barbara Lloyd, Lane Neville and Logan Crum represented the tenant, Legacy Air HVAC, LLC, in a 92-month office lease for 11,405 SF at 645 E. Missouri Ave., Phoenix, AZ. Mike Strittmatter with CBRE represented the landlord, ICIC Commercial Investments 3, LLC.
Tyler Smith, Troy Giammarco and Joe Pequeno represented the landlord, Bay Pacific Phoenix Corporate Center, LLC, in a 65-month lease for 19,436 SF at 10010 N. 25th Ave., Phoenix, AZ. Garius Green with Keyser Company represented the tenant, Veyo, LLC.
Isy Sonabend represented the tenant, FinishMaster, in an 88-month industrial lease for 12,712 SF at 318 S. Dobson Rd., Mesa AZ. Mike Parker with CBRE represented the landlord, PRA/LB, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, The Market at Estrella Falls, LLC, in a 120-month retail lease for 1,871 SF at 1981 N. Pebble Creek Parkway, Goodyear, AZ.
Tyler Smith represented the tenant, Magnus Title Agency, LLC, in a 60-month office lease for 2,644 SF at 17015 N. Scottsdale Rd., Scottsdale, AZ.
Matt Harper represented both the landlord, 43rd Avenue, LLC, and the tenant, Family Care Connections, LLC, in a 63-month retail lease for 4,889 SF at 9250 N. 43rd Ave., Glendale, AZ.
Laurel Lewis and Tom Bean, CCIM, represented the landlord, Top of the Tram, LLC, in a 36-month office lease for 3,446 SF at 2165 W. Pecos Rd., Chandler, AZ.
Sharon Reeves represented the landlord, Jula International, LLC, in a 63-month retail lease for 1,664 SF at 10626 N. Scottsdale Rd., Scottsdale, AZ. Josh Stewart with Strategic Retail Group represented the tenant, Scottsdale D&D, LLC.
Sharon Reeves represented the landlord, First & Pierce, LLC, in a 60-month retail lease for 1,227 SF at 7119 E. Sahuaro, Scottsdale, AZ.
Matt Harper represented the landlord, MAZ Northern Plaza, LLC, in a 25-month retail lease for 1,000 SF at 5008 W. Northern Ave., Glendale, AZ.
Ed Toschik represented the tenant, LK Institute, in a 36-month office lease for 1,428 SF at 2525 W. Carefree Highway, Building 1A, Phoenix, AZ. Bob Deininger with Commercial Properties Inc. represented the landlord, Sonoran Property, LLC.
Tyler Smith represented the landlord, Arrowhead 79th, LLC, in a 63-month lease for 864 SF at 18001 N. 79th Ave., Glendale, AZ. Adrienne Bryant with Bryant Commercial Real Estate represented the tenant, Parma River, LLC.
Tyler Smith represented both the landlord, Arrowhead 79th, LLC, and the tenant, Tina M. Waggoner, LLC, in a 38-month office lease for 1,276 SF at 18001 N. 79th Ave., Glendale, AZ.
Matt Harper represented the landlord, M&N Realty, LLC, in a 39-month retail lease for 1,908 SF at 12020 S. Warner Elliot Loop, Phoenix, AZ.
ABI brokers $8.15M, 98-unit sale near GCU
ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $8,150,000 / $83,163 Per Unit sale of Silver Tree Apartments located in Phoenix, Arizona. Built in 1986 of frame construction with some renovations between 2015/17, Silver Tree is a garden-style apartment community that features 98 units in seven, two-story buildings. The property rests on approximately 3.54-acres with a unit mix that consists of (16) studios, (42) one bed and (40) two-bed units with an average size of 604 SF. Electricity is individually metered with individual A/C units and a main boiler for domestic hot water. The xeriscape property grounds have a beautiful spacious swimming pool with Ramada and centrally located laundry facility. Additional planned improvements include a fitness center, dog park, business center, group project area for students, rebranding and more. Interior planned improvements include new kitchen cabinets, quartz countertops, stainless steel appliances and more.
“The property has been meticulously maintained by a pride-of-ownership owner/operator with new roofs installed in 2015 and more exterior improvements in 2017 including all new paint,” states Eddie Chang, Partner, who represented both the buying and selling entities in the transaction. “The buyer was attracted to this value-add opportunity due to its close proximity to Grand Canyon University which has been expanding rapidly, creating the need for additional quality housing and services. The new owners plan to take advantage of the growing demand by making sweeping exterior and interior improvements targeting the student population of GCU.”
The buyer is a private partnership based in Phoenix. The seller is a private partnership based in Phoenix.
ABI Brokers $5.25M sale in South Phoenix near light rail expansion
ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $5,250,000 / $65,625 Per Unit sale of Brighton Place Apartments located in Phoenix, Arizona. Built in 1988 of frame construction, Brighton Place is a garden-style apartment community that features 80 units in 8, two-story buildings. The property rests on approximately 4.68-acres with a unit mix that consists entirely of two bedroom units with an average size of 703 SF. Units feature air conditioning/heating, private patio / balcony, walk-in closets, and all-electric kitchens equipped with a garbage disposals, dishwashers, and breakfast bar. Additionally, each unit has its own individual water heater. This community also provides its residents with a swimming pool, a leasing office, laundry facilities and lush landscaping.
“The seller purchased the property back in 2010 through a lender receivership sale at the market’s bottom,” states Rue Bax, Senior Managing Partner, who represented the seller in the transaction. “By end of 2017, the sellers had completed a general renovation of both the exterior and some interior units of the property.”
“The buyer is an experienced multifamily investor with thousands of apartment units owned across the Valley,” states Alon Shnitzer, Senior Managing Partner, who represented the buyer in the transaction. “With the South Central Extension of Light Rail set for completion by 2023, the buyer hopes to capitalize as this project ramps up and opens the entire area to redevelopment.”
The Buyer, Cody Drive Apartments, LLC, was formed by a private investment firm based in Los Angeles, CA. With this latest acquisition, the parent company and its subsidiaries currently control over 4,000 apartment units in the Arizona Market.
The seller was a private partnership based in California.
Taylor Street Real Estate Advisors sells multifamily asset
Taylor Street Real Estate Advisors, a leading full service commercial real estate advisory firm, announces the sale of Campbell Apartments, a 24-unit un-renovated apartment community located in the Biltmore area of Phoenix. The asset commanded a sales price of $3,150,000 or $131,250 per unit.
Brian Tranetzki and Eric Thomas with Taylor Street Real Estate Advisors had the exclusive listing and negotiated the transaction on behalf of the Seller.
“Campbell Apartments was lightly upgraded with in-suite washer and dryers in 11 of the 24 units, but not yet renovated to the level that would meet the demand of this high-profile location. The buyer will continue to renovate the interiors of the units bringing them to a standard the young professional tenant base in the immediate area expects. With these improvements the investor has the ability to increase existing rents by over thirty percent,” says Tranetzki
Campbell Apartments address is 2417 East Campbell Avenue, Phoenix, AZ 85016
Campbell Apartments is located at 24th Street and Campbell Avenue, just south of the 24th Street and Camelback intersection, the heart of Phoenix’s financial district. Also located at 24th and Camelback, and walking distance from Campbell Apartments is the renowned Biltmore Fashion Park, an open-air shopping center that boasts high end retailers such as the Apple Store, Pottery Barn, Saks Fifth Avenue, Gucci, and ARHAUS,” Tranetzki concludes.
