Justin Lanne and Andrew Sternberg with NAI Horizon’s Tucson office represented the seller, 535 Wilmot Investors, an affiliate of The Schomac Group. The buyer, AP MP, LLC, an affiliate of MBRE Health Care, closed escrow on the investment property on July 7.
The asset is a 40,936 SF medical building which is wholly occupied and leased to Banner Health, Inc. Banner Health has been a long-term tenant and just renewed its lease for another 10 years. Banner’s Diamond Children’s Multispecialty Service Clinic and Whole Health Clinic occupy each floor of the building.
“I sold the empty building to an affiliate of the seller in December of 2002,” Lanne said. “The asset was held by a lending institution at that time. The previous tenant was Cigna Health Care.”
NAI Horizon negotiates acquisition of Phoenix industrial building for Chicago real estate firm
NAI Horizon Senior Vice President Isy Sonabend and agent Drew Eisen represented a Chicago-based real estate investment and development company in the $4.4 million acquisition of an industrial building in Phoenix.
NAI Horizon represented Industrial Outdoor Ventures of Schaumburg, Illinois, in the purchase of the 48,000 SF building at 2600 W. McDowell Ave., in Phoenix.
“The buyer is an investor in freight and trucking terminals nationally,” Sonabend said. “This property will go through extensive modernization and will be offered for lease only. This is a diminishing product type. Due to the scarcity of this property type, we have already experienced a lot of interest.”
The 10.7-acre site with service and warehouse buildings is a freeway-friendly location in Central Phoenix. The property is a multi-building distribution facility 3.7 miles from Downtown Phoenix with 17 foot to 20 foot clear heights, roll down doors and drive-in/through service bays.
The secure and paved site features three street ingress, providing immediate access to Phoenix’s major freeways, I-10, I-17 and US Highway 60.
Industrial Outdoor Ventures is a Chicago-based real estate investment and development company that specializes in providing real estate solutions for heavier industrial uses in major markets throughout the U.S.
It is focused on creating value for its tenants, host communities and investors through the acquisition, and long-term ownership of mission critical Industrial Service Facilities (ISF), which feature a significant outdoor storage component.
The seller was D. Thompson Properties of Portland, Oregon.
Industrial sales in Mesa recent deals closed by NAI brokers
The sales of two industrial buildings in Mesa totaling $1.4 million highlight recent deals closed by NAI Horizon professionals. One building went for $1 million; the other sold for $399,500.
Mark Wilcke negotiated a sale of a 7,833 SF industrial building representing the seller, EMP LLC for $1 million. The property is located at 2628 W. Birchwood Circle, Bldg. A, Mesa, AZ. The buyer, AZ EUROS, LLC was represented by Langdon Bridges with Commercial Properties Inc.
Rick Foss negotiated a sale of a 4,000 SF industrial building representing the buyer, Richard Bryant Leopold and Janet Marie Leopold for $399,500. The property is located at 414 S. Grand, Mesa, AZ. The seller, Olsen Recker/Guadalupe Properties, LLC was represented by Bill Olsen with City to City Commercial Real Estate.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Biscuits Enterprises, Inc. in a 124-month retail lease for 5,120 SF at 310 E. Bell Road, Phoenix, AZ. The landlord, Whitestone Fountain Square, LLC was self-represented.
Kevin Higgins represented the landlord, Bogle Family Realty in an 84-month office lease for 5,200 SF at 7227 N. 16th St., Phoenix, AZ. The tenant, Blackstone Security was represented by Jack Stone with JMS Commercial Real Estate Services.
Isy Sonabend represented the tenant, Grimco, Inc. in a 60-month industrial lease renewal for 8,600 SF at 3717 E. Broadway, Phoenix, AZ. The landlord, Warne West Investments was self-represented.
Jeff Adams represented the tenant, Air Zip Enterprises, LLC in a 24-month industrial lease for 8,185 SF at 1522 W. Todd Drive, Tempe, AZ. The landlord, REB Limited, LLC was self-represented.
Matt Harper, CCIM represented the landlord, LASA Realty, LLC in a 36-month retail lease for 2,938 SF at 7448 W. Glendale, AZ. The tenant, World Staffing USA, LLC was represented by Jennifer Eggert with Orion Investment Real Estate.
Joe Pequeno and Troy Giammarco represented the tenant, 4 A Healthcare, LLC in a 38-month office lease for 2,145 SF at 3150 N. 24th St., Phoenix, AZ. The landlord, Riviera Business Management was represented by Jeremy Stout with Commercial Properties, Inc.
Matt Harper, CCIM represented the landlord, M&N Realty, LLC in a 40-month retail lease for 1,227 SF at 12020 S. Warner Elliot Loop, Phoenix, AZ. The tenant, E-Migos Ebike Retailer, LLC was self-represented.
Matt Harper, CCIM represented the landlord, Grand Center Plaza, LLC in a 25-month retail lease for 1,107 SF at 11001 N. 99th Ave., Peoria, AZ. The tenant, Simply Captured Photography, LLC was self-represented.
Matt Harper, CCIM represented the landlord, Yee Legacy II, LLC in a 24-month retail lease for 576 SF at 18914 E. San Tan Blvd., Queen Creek, AZ. The tenant, The Amistad Clinic, PLLC was self-represented.
Matt Harper, CCIM represented the landlord, Puchhi, Inc. in a 12-month retail lease for 1,240 SF at 9501 W. Peoria Ave., Peoria, AZ. The tenant, The Greenline Enterprises Brokerage, Inc. was self-represented.
Joan Krueger represented the landlord, Jade Lion, LLC in a 12-month retail lease for 566 SF at 9241 N. 6th St., Phoenix, AZ. The tenant, BDP Groups, LLC was self-represented.