Phoenix Commercial Advisors closes on downtown Starbucks
Phoenix Commercial Advisors closed on their most recent sale—Starbucks—Friday, March 16. The property, located on 0.513 acres on the southeast corner of 7th Avenue and Roosevelt Street at 837 N. 7th Avenue in Phoenix, sold for $2,512,000 or $1,293 per square foot. The new 1,946-square-foot building closed at 100 percent of the asking price.
Chad Tiedeman at Phoenix Commercial Advisors represented the seller, William Rodriquez, in this transaction. Lee & Associates represented the buyer, Douglas Parking, LLC. Lance Umble at Phoenix Commercial Advisors leased the space. The transaction is one of 37 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in the past 15 months.
CBRE releases recent transaction report
CBRE’s Tucson office has released the following recent transaction report:
• Nvest, Inc leased 6,436 sq. ft. of office space at 100 N. Stone Avenue in the Pioneer Building. Trevor Pratt of JLL represented the tenant. Bruce Suppes and David Volk of CBRE represented the landlord, Holualoa Pioneer, LLC, in the transaction.
• Pyramid Federal Credit Union has leased a 3,931 sq. ft. Office space at 6725 E. Broadway Blvd. CBRE’s Nancy McClure represented Pyramid in the transaction, and NAI Horizon-Tucson office represented the landlord, Alpine Chalet Apartments, LLC.
• WSB Tucson Financial Center leased 3,304 sq. ft. of office space at 1636 Swan Road. Janine Irvin of Mark Irvin Realty represented the tenant. Bruce Suppes and Ian Stuart or CBRE represented the landlord, K Nardelli Building, LLC, in the transaction.
• Presidio Surgical Group leased 1,921 sq. ft. of office space at 2055 W. Medical Hospital Drive in the Northwest Professional Plaza. Vicki Teeple of Tango Commercial represented the tenant. Bruce Suppes and Dave Volk of CBRE represented the landlord, Windrose Northwest Professional Plaza Properties, in the transaction.
• Bi Bim Bap Korean Restaurant leased 1,360 sq. ft. of retail space at 4951 E. Grant Road in the Crossroads East Shopping Center. Daniel Yang and Chris Tsighis of Coldwell Banker represented the tenant. Nancy McClure of CBRE represented the landlord, Machado Properties Crossroads East, in the transaction.
Latest deals from Rein and Grossoehme Commercial Real Estate
• A lease for 6,457 square feet in Arrowhead Commerce Center to Arrowhead Imports was recently consummated. The location of the property is 8643 W. Kelton Lane, Peoria, AZ. The owner of the center is Arrowhead Commerce Center Partners, LLC. Jared Lively of Rein & Grossoehme CRE represented both the Landlord and the Tenant. Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.
• A lease for a 2,400 square foot building on the North East corner of 51st Avenue and McDowell Road to Cash One (AAA Auto Title Loans, LL) was recently consummated. The location of the property is 5050 West McDowell in Phoenix, AZ. The owner of the center is McDowell Arizona, LLC. Jake Ertle of Rein and Grossoehme Commercial Real Estate represented the Landlord.