Phoenix, Arizona – Trammell Crow Company (TCC) and its partner, CBRE U.S. Development Partners 5, a fund sponsored by CBRE Global Investors, announce the completion of Park Aldea, a 356,000-square-foot four-building industrial development in Phoenix, Arizona. Green Worldwide, an international shipping company, signed a lease to occupy the entirety of Building C, which spans 87,296-square-feet and is located at 10200 West Montebello Avenue. The company plans to move to the new facility at the end of 2020.

Park Aldea is located on a 27-acre site just west of the intersection of 99th Avenue and Cardinals Way (Bethany Home Road). Three buildings at the development are available for lease and include Building A, which spans 74,164-square-feet; Building B, which includes 76,322 square feet; and Building D, which offers 118,241-square-feet. Divisibility is available down to 7,280 square feet.

“Park Aldea is the first Class A industrial park to be built in the past 10 years along this 10-mile stretch of Loop 101. It is filling a huge void in this area for flexible, high-quality space that meets the needs of a variety of industrial users,” said Ryan Norris, Vice President at Trammell Crow Company. “Industrial continues to be a strong-performing sector in Phoenix, and we are pleased to deliver another significant project to meet the local demand.”

Features at the buildings within Park Aldea include ESFR fire sprinkles; clear heights ranging from 24 feet up to 32 feet; building depths ranging from 140 feet to 222 feet and truck courts than range in size from 130 feet to 180 feet.

Mitchell Stravitz, Cooper Fratt, and Tanner Ferrandi with CBRE Phoenix serve as the exclusive leasing agents for the project. Ted Liles from Cresa represented Green Worldwide in its lease.

Park Aldea is easily accessible from the Loop 101 Freeway and Cardinals Way, providing access to a deep, diverse labor pool. The site is 20 minutes from Downtown Phoenix and from Sky Harbor International Airport and is a short drive to the Westgate Entertainment District.

SAHUARITA, ARIZONA — Chipotle at The Crossing at Sahuarita Shopping Center in Sahuarita, Arizona sold for $2.233 million ($969 PSF). The 2,305-square-foot building was built in 2019 at 18725 S Nogales Hwy. in Sahuarita and fully leased as a Chipotle restaurant with drive-thru.

The Crossing at Sahuarita is a 150,000-square-foot center that boasts a Sprouts Farmers Market, TJ Maxx, PetSmart, Beall’s Outlet, and several restaurants and shops to compliment the diverse tenant mix. The project is located at the southeast corner of Nogales Highway and Abrego Drive in Sahuarita, Arizona, which is about 20 minutes south of Tucson.

Chad Tiedeman and Steven Underwood with Phoenix Commercial Advisors represented the seller, FAE Holdinga of Utah and Art Flores with CBRE in Newport Beach, CA represented the investor.

“Pandemic proof retailers prove to be in high demand these days,” said Underwood. “Especially high quality quick service restaurants such as Chipotle with a drive thru. We could sell 50 of these tomorrow if we had the listings.”

Dutch Bros at 18800 S Nogales Hwy. in Sahuarita also sold for $1.93 million ($2,386 PSF). The 810-square-foot Dutch Bros constructed in 2019, sits on a 16,754-square-foot lot was purchased by James D. Borel for investment, leased to Dutch Bros.

CVP- Sahuarita Plaza DB LLC, an affiliate of Cole Valley Partners of Portland Oregon, purchased the land from Team Adams Sahuarita in November 2018 for $765,000 ($28 PSF) to develop the Dutch Bros Coffee. in Sahuarita Plaza.

Sean Heitzler with CBRE in Newport Beach represented the seller, CVP-Sahuarita Plaza and Dustin Olive with West USA Prescott represented the investor.

For more information, Tiedeman and Underwood can be reached at 602.957.9800. Flores can be contacted at 949.725.8625 and Heitzler is at 310.567,1425

To learn more, see RED Comp #7952 and #8076.

Private Investor Purchases Award-Winning Building

Phoenix, Arizona – The Signature Office Suites building, located at 8585 E. Hartford Dr. in Scottsdale, has been sold to a private investor for $6,850,000 ($246 PSF).  The Class ‘A’, two-story office building features self-contained office suites that were 96 percent occupied at the time of sale.

Saffield Family LLC purchased the property from Signature Suites SPT LLC (San Pasqual Fiduciary Trust Company) in a 1031 Exchange transaction.  Greg Hopley, Jim Keeley and Dillon Hopley of Colliers International in Arizona represented the seller in the disposition.  Steven Barger with CRE Property Advisors represented the buyer.

“This Class A office building received two different awards for its high-quality design,” says Hopley, senior executive vice president with Colliers.  “The suites feature spectacular desert and mountain views visible through full height glass lines.  The property layout also offers a desert oasis courtyard with water features and benches that provide tenants with a very unique indoor and outdoor work environment. Plus, the overall demographics are some of the best in the entire valley.”

Built in 2000, the building contains approximately 27,797-rentable-square-feet of office space. Situated on 2.13 acres of land just west of the Loop 101 near Bell Road, the property is a short walking distance from the TPC Scottsdale Champions Course and Scottsdale Sports Complex, and the renowned Princess Hyatt Resort.  The interior was remodeled in 2017-2019 and now features breakrooms with granite-topped entertainment bar and hardwood cabinets.  Modernized LED lighting, wood blinds, 11-foot ceilings and updated private restrooms provide tenants with high-end office space amenities.