Phoenix Commercial Advisors sells Signature Salon Studios

Phoenix Commercial Advisors closed on their most recent sale, Signature Salon Studios, Tuesday, February 13. The property, located on 1.81 acres on the northwest corner of Higley Road and Southern Avenue at 5114 E. Southern Avenue, Mesa, Ariz., sold for $2,750,000. The new 10,480-square-foot building sold at a 6.59 percent cap rate and for $262 per square foot. Signature Salon Studios has a 15-year lease at this location.

Chad Tiedeman at Phoenix Commercial Advisors represented the seller, SSL-MESA, LLC, in this transaction. Daniel Park at Park Industrial Realty represented the buyer, Hyun Joon Lim. The transaction is one of 36 retail investment property sales for the Phoenix Commercial Advisors’ Investment Team in the past 14 months. It is also the third Signature Salon Studios the team has sold for a combined total of $14,350,000.

Formed in 1994, Phoenix Commercial Advisors is a commercial real estate services company. The company specializes in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities, providing leasing, tenant representation, development, investment and redevelopment services to local and national retailers and property investors. Offering the expertise of nearly 250 combined years of experience, Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.

Rein & Gossoehme Commercial Real Estate brokers retail leases

Nic Chavira of Rein and Grossoehme represented the owner and tenant in a 600-square-foot lease renewal in GC Plaza at 3601 W. Camelback Road in Phoenix. The new tenant is Aguila Tax Express. The owner of the center is JARM, LLC.

Nic Chavira of Rein and Grossoehme represented the owner and tenant in a 1,200-square-foot lease in The Palms Center to We Fix You Play at 15610 N. 35th Avenue in Phoenix.

Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.

Berkadia completes 3 multifamily sales

Berkadia announced the sale of Canyon Palms, a 143-unit multifamily apartment building situated just west of Interstate 17-Black Canyon Freeway for $6.2 million. Senior Director Darrell Moffitt, Senior Managing Director Ric Holway, and Senior Director Dan Cheyne of Berkadia’s Phoenix office completed the sale on behalf of the seller, Monte Vista Gardens. The buyer, Canyon Palms Enterprises acquired the property, which consists of one-bedroom units and is master-metered. The buyer plans to first tighten up operations, update interiors as they turn, and improve onsite amenities with a dog run and playground.

Berkadia announced  the sale of Trails at Harris, a garden-style multifamily property in Mesa. Senior Managing Directors Ric Holway and Mark Forrester led the sale, along with Senior Director Dan Cheyne, all out of the Phoenix office. The team completed the sale on behalf of the seller, Canada-based Western Wealth Capital. Senior Director Anthony Ansevin of Berkadia’s Irvine office secured in the acquisition financing through Freddie Mac. The deal closed on February 5. “Trails at Harris represents a strong value-add opportunity within the high demand East Valley submarket on the Mesa / Gilbert border,” said Holway. “The buyer plans to upgrade the unit interiors and reposition the community amenities and branding.” Located at 1653 S Harris Drive, the 209-unit property offers one- and two-bedroom floorplans, ceiling fans and air conditioning. Residents can enjoy amenities such as a clubhouse, fitness center, business center and two swimming pools. Trails at Harris offers convenient access to Routes 60 and 87 and is located in the Gilbert School District.

Berkadia announced the sale of Dusk, a 41-unit multifamily property located at 3130 North Hayden Road in Scottsdale for $11.6M. Senior Managing Directors Mark Forrester and Ric Holway along with Senior Director Dan Cheyne of the Berkadia Phoenix office exclusively listed the property and completed the sale for the seller, 3130 Hayden Partners, LLC. The buyer, Dusk Hayden, LLC acquired the property. Dusk represents a truly unique and one-of-a-kind, “green” luxury rental community. The community features a large solar energy production array allowing the building to generate basically as much electricity as it consumes.

Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.