09 Mar Latest deals from Colliers, Marcus & Millichap, NAI Horizon, Kidder Mathews
Christian Family Care purchases Central Phoenix building
Christian Family Care has purchased a 22,000-square-foot office building at 2346 N. Central Ave. for $3,325,000. The 35-year-old, non-profit organization will utilize the building to accommodate future expansion.
Christian Family Care is a well-known 501C3 based in Phoenix. The organization provides adoption care, foster care and counseling services to a wide variety of populations in Greater Phoenix.
“This very important community organization was interested in purchasing commercial office space in the Central Phoenix area,” says Greg Hopley, executive vice president with Colliers International in Greater Phoenix. “This building is ideally suited for the organization’s future use and expansion since Christian Family Care’s current headquarters is conveniently located near 7th Avenue in Greater Phoenix.”
Hopley represented Christian Family Care in the purchase transaction. The landlord, Deco 2346 Central, LLP, was represented by Cushman & Wakefield.
Marcus & Millichap sells apartment portfolio
Marcus & Millichap announced the sale of Ambassador and Tropicana, a 23-unit and 14-unit property portfolio located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix and Tucson offices. The assets sold for $2,574,000.
“Ambassador is a 23-unit community adjacent to the University of Arizona and presents a tremendous opportunity for BRAD Management to implement the same successful repositioning of assets they have instituted in California, Oregon, and Washington. The property consists of 23 bungalow-style homes offering individual backyards and garages for residents. BRAD Management plans to completely transform the asset into high-end student living,” stated James Crawley.
Crawley, along with Hamid Panahi, both investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, a private investor.
“The Seller had owned both Ambassador and Tropicana since the mid-1980’s, and had successfully owned and operated several multifamily communities around the University for decades,” added Crawley.
The buyer, a private investor, was also secured and represented by Crawley and Panahi.
Orsett Properties acquires over 8 acres in Deer Valley
Orsett Properties, has acquired the last remaining 8.3 acres within the Spectrum Ridge Business Park located at 7th Street and Deer Valley Road, in Deer Valley. The acquisition includes a 2.05-acre parcel along East Lone Cactus Drive and a 6.31-acre parcel on 7th Street, just south of Deer Valley Road.
Over the last several years Spectrum Ridge has been one of the most successful and active business parks in the Valley, with nearly 500,000 square feet of industrial and office buildings constructed. Plans for the remaining acreage include the potential construction of up to an additional 100,000 square feet of new development.
Kidder Mathews brokers Eric Bell, Mike Ciosek, and Dylan Scott negotiated the transaction between Orsett Properties and Turner Development. Orsett Properties is considering several options for the property including build-to-suits for industrial uses or office buyers and tenants. For more information, contact the Kidder Mathews agents at (602) 513-5200.
The acquisition of an industrial property in Chandler for a business that sells and installs raised computer flooring and the long-term industrial lease for an electronics supply company in Phoenix highlight recent transactions closed by NAI Horizon professionals.
Rick Foss negotiated the sale of a 10,161 SF industrial property, representing the buyer, Pacific Desert, LLC, for $1.129 million. The property is located at 503-505 E. Boston Circle, Chandler, AZ. David Bean and Leroy Brienholt with Commercial Properties represented the seller, Eric J. & Susan D. Cassinat and Anthony & Cindy L. Cassinat.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon negotiated the sale of 10.76 acres of land, representing the seller, Continental 187 Fund, LLC, for $625,000. The property is located at the NWC of US-60 and Goldfield Road, Apache Junction, AZ. Matt Rinzler with Insight Land & Investments, LLC represented the buyer, David McHenry and/or Nominee.
Stan Matzinger and Tom Bean, CCIM, negotiated the sale of a 6,000 SF industrial property, representing the buyer, 2315, LLC, for $430,000. The property is located at 2315 E. Washington St., Phoenix, AZ. Andrew Brigham with CBRE represented the seller, Lawrence DeRogatis.
Laurel Lewis, Barbara Lloyd and Lane Neville negotiated the sale of a 5,929 SF office building, representing the seller, Troon, LLC, for $385,385. The property is located at 10051 E. Dynamite, Scottsdale, AZ. Gary Schultz with West USA represented the buyer, H & S Enterprises, LLC.
Matt Harper negotiated the sale of a 960 SF retail property, representing the buyer, Purple Elephant Cakes, LLC, for $180,000. The property is located at 13331 W. Indian School Rd., Litchfield Park, AZ. Linda Robbins with Avison Young represented the seller, Jana Bakery, LLC.
Isy Sonabend represented the tenant, Elliott Electric Supply in an 87-month industrial lease for 62,900 SF at 121 S. 39th Ave., Phoenix, AZ. Don MacWilliam with Colliers International represented the landlord, Sieroty DBA Eastern Columbia Properties.
Tyler Smith represented the landlord, Meridian West Rose Garden, LLC in a 65-month medical office lease for 10,556 SF at 20950 N. 29th Ave., and 2925 West Rose Garden Lane, Phoenix, AZ. Mari Lederman with CBRE represented the tenant, Cancer Treatment Center of America Professional Corporation of Arizona, P.C.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, The Market at Estrella Falls, LLC in a 60-month retail lease for 1,502 SF at 1981 North Pebble Creek Parkway, Goodyear, AZ. Donna Reece with Zell Commercial Real Estate Services, Inc. represented the tenant, Lipsey Communications, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, LNR Partners, LLC in a 120-month retail lease for 1,400 SF at 20987 N. John Wayne Parkway, Maricopa, AZ. Mark Haslip with Menlo Group represented the tenant, Maricopa Smiles, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega, Patrick Anthon and Tom Bean represented the landlord, New Bell Tower, LLC in an 84-month retail lease for 2,500 SF at 4915 W. Bell Rd., Phoenix, AZ.
Laurel Lewis represented the tenant, MTI America, Inc. in a 39-month lease for 3,036 SF at 1711 Greentree Dr., Tempe, AZ. Pat Schrimsher with Cushman & Wakefield represented the landlord, DIG Agave Center, LLC.
Tyler Smith represented the tenant, Dental Facial Imaging, LLC in a 62-month medical office lease for 1,788 SF at 17235 N. 75th Ave., Glendale, AZ. Bill Cook with Plaza Companies represented the landlord, Holualoa Arrowhead Executive, LLC.
Matt Harper represented the tenant, Jodi White-Guthrie and Michael Guthrie in a 62-month industrial lease for 2,849 SF at 20650 N. 29th Place, Phoenix, AZ. Jim Stockwell with CPI represented the landlord, H&A Ventures, LLC.
Tyler Smith represented the tenant, Magnus Title Agency, LLC in a 60-month office lease for 2,005 SF at 8190 S. Kyrene Rd., Tempe, AZ.
Stan Matzinger and Tom Bean, CCIM represented the landlord, 10240 Bell Road Associates, LLC in a 61-month office lease for 1,854 SF at 10240 W. Bell Rd., Sun City, AZ.
Rick Foss represented the landlord, Gerald M. and Diane M. Olson Revocable Living Trust in a 61-month industrial lease for 4,000 SF at 111 N. 30th St., Phoenix, AZ. Jack Stone with JMS Commercial Real Estate Services, LLC represented the tenant, Consumer Advocacy Projects, Inc.
Jeff Adams represented the tenant, Adams Disaster and Restoration, Inc. in a long-term lease for 3,164 SF at 1716 W. Broadway Rd., Mesa, AZ. Rod Corrty and Brad Burress represented the landlord, Zimmerman Commons II, LLC.
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, CP6GT, LLC in a 41-month retail lease for 1,200 SF at 5830 W. Thunderbird Rd., Glendale, AZ.
Matt Harper represented the landlord, Allan Edward Slatin Trust in a 5-year retail lease for 1,000 SF at 4744 E. Thunderbird Rd., Phoenix, AZ. Jim Edwards with Rein & Grossoehme represented the tenant, TLC Therapies, LLC.
Matt Harper represented the landlord, M&N Realty, LLC in a 24-moonth retail lease for 1,233 SF at 12020 S. Warner Elliot Loop, Phoenix, AZ.
Matt Harper represented the tenant, Doggy Stylez Grooming and Boarding, LLC in a 28-month retail lease for 1,200 SF at 12416 N. 28th Dr., Phoenix, AZ.
Matt Harper represented the landlord, E & L Investments, LLC in a 12-month retail lease for 1,000 SF at 2647 W. Glendale Ave., Phoenix, AZ.
Matt Harper represented the landlord, Hillcrest Plaza, LLC in a 12-month retail lease for 420 SF at 1241 E. Broadway Rd., Mesa, AZ.