Sperry Van Ness reported the following transactions on August 4, 2014:

 

RETAIL SALES:

  • The Hinkson Company, LLC purchased a 50,467 SF retail building, known as Glendale Center, located at 5139 W. Glendale Avenue in Phoenix for $2,600,000 or $51.51 PSF.  Erin Schrauth, Peter McQuaid and Greg Vanlerberghe represented the seller, GLC Glendale Holdings, LLC.
  • Lead Charter purchased a 16,000 SF retail building, known as Cooper Square, located at 707 E. Ray Road in Gilbert for $935,000 or $58.44 PSF.  Ryan Mojahed represented the seller, JLM Financial Investments 9, LLC.
  • Atos Inc. purchased a 24,724 SF former Big Lots retail building located at 1826 W. Baseline Road in Mesa for $1,250,000.  The seller, Shayesthfar Family Trust, was represented by Shari A. Tucker-Gasser, Trent McCullough, Peter McQuaid, Greg Vanlerberghe and Erin Schrauth.
  • Vito’s Pizza & Italian Restaurant, located at 10999 N. Frank Lloyd Wright Blvd in Scottsdale, has been purchased by Vito’s 3, LLC for $1,000,000.  Neil Sherman, Mary Ridberg and Rommie Mojahed represented the buyer. The freestanding, 4,616 SF building sits just North of Desert Cove Avenue on Frank Lloyd Wright Blvd.  The seller was ECG New Palo Verde LLC.
  • Rittenhouse Landco, LLC purchased a 38,715 SF new construction retail building located ESEC of Rittenhouse Road and Ellsworth Road in Queen Creek for $325,000.  Dairy Queen will occupy the majority of the space and there is 2,600 SF available for lease. Mary Ridberg and Rommie Mojahed represented the buyer and handle the leasing.
  • Trenton McCullough and Shari A. Tucker-Gasser, Retail Investment Advisors in the Phoenix Sperry Van Ness office, represented the buyer, Sossaman Development LLC, in the $2,200,000 purchase of 4.95 acres of commercial land zoned LC, formerly known as C-2, in the City of Mesa. Located just north of Costco on the hard corner of Sossaman Road and Hampton Avenue in Mesa, Ariz. Sossaman Development LLC has plans to develop and sell or lease pads for a multi-tenant retail building and two freestanding single tenant retail buildings along Sossaman Road.

RETAIL LEASES:

  • Mary Ridberg and Rommie Mojahed represented the tenant, ZAK’s Chocolate, to lease 1,882 SF of retail space at Aqua Caliente neighborhood center located at 6990 E. Shea Blvd in Scottsdale.  Brad Balboa of Strategic Retail Group represented the landlord.
  • Doodley Do Dog Grooming leased 1,155 SF of retail space at McDowell Village, located at 8322 E McDowell Road in Scottsdale.  Mary Ridberg and Rommie Mojahed and Beau Flahart represented the landlord.
  • Premier Athletics leased 1,351 SF of flex warehouse space at University Plaza, located at 1415 E. University Drive in Tempe.  Michael Gaida and Michael Franks represented the tenant.
  • A nail salon has leased 1,947 SF of retail space at Arrowhead Festival Shopping Center located at 7260 W. Bell Road in Glendale.  Mary Ridberg and Rommie Mojahed represented the landlord.  Also new to Arrowhead Festival Shopping Center is Destination Scuba who leased 2,054 SF of space at the center.
  • Wireless Toyz leased 1,184 SF of retail space at 3602 E. Indian School Road in Phoenix. Mary Ridberg and Rommie Mojahed represented the tenant.
  • Odyssey Service Corporation leased 2,200 SF of retail space at Sun Valley Shopping Plaza II, located at 7440 E. Main Street in Mesa.  Michael Gaida and Michael Franks represented the landlord in the lease transaction.

OFFICE LEASES:
Justin Horwitz and Nicole Ridberg represented the landlord at The Century Building to lease 1,324 SF of office space to Horsepower Media Group.  The office building is located at 1940 E. Thunderbird Road in Phoenix.   Horsepower was represented by Kyle Greiert at Mohr Partners.