Mesa, AZ – Lacey Eyman at ORION Investment Real Estate assisted Long Wong’s franchisee Victor Martinez lease his 5th location this past week. Lacey Eyman assisted Victor in his 4th location opening in Casa Grande just last week, and quickly closed this second lease in Mesa for him this week. The Long Wong owner is experiencing massive success at their existing locations and are expanding quickly.

This newest Long Wong’s location is 1,200 SF and is located in Country North Plaza Shopping Center right off of the SR-87, Country Club Drive, and Brown Road, just south of the Loop-202. There’s a newly remodeled Wendy’s on the hard corner and a strong tenant-mix in the center. Many tenants have been there since the building was built in 1983, including the Dirty Drummer, the Krazy Sub Shop and more.

Lacey Eyman, who represented Long Wong’s, commented on the deal, “I have so enjoyed watching this tenant grow and expand in his success. Not only did he sign two leases in just one month, but this particular lease is also a special location for Victor Martinez. He grew up on Country Club and is now the proud owner of both Long Wong’s on Country Club Drive. The franchisee has had great success and has been able to employee much of his family in the restaurants. I always love being able to help my clients open businesses at strategic locations as they continue to grow.”

PHOENIX, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Circle K Ground Lease, a 4,500-square-foot property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,780,000.

“Marketing this deal produced multiple offers, leading it to trade over list price,” said Cassandra Mosser, senior associate in Marcus & Millichap’s Phoenix office. “The desire for a COVID essential tenant mixed with a long-term, corporate lease, made this deal very attractive to a large buyer pool.” Mosser had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Circle K Ground Lease is located at 1875 West Greenway Road on the southeast corner of 19^th Avenue and Greenway Road, which sees over 31,000 vehicles per day and connects directly to Interstate-17, Loop 101 and Route 51. The asset, built in 2017, includes a corporate guaranty with over 16 years remaining on a triple-net ground lease.

JLL Capital Markets arranged the $13.725 million loan through Freddie Mac 

PHOENIX, Arizona – JLL Capital Markets announced today that it has arranged $13.725 million in acquisition financing for the 117-unit, Haven at South Mountain multi-housing property in Phoenix.

JLL worked on behalf of the borrower, a joint venture between Sunrise Multifamily and Intrust Property Group, to secure the 10-year, floating-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Located at 1630 E. Baseline Rd, the property is 97% occupied and offers studio, one- and two-bedroom units for rent. Units include spacious floorplans, private patios and balconies, walk-in closets and granite countertops. Community amenities include a pet park, barbeque and picnic area, fitness center, playground and pool.

Haven at South Mountain is conveniently located near various shopping and grocery centers and the Phoenix area’s hiking and trails including the Mormon, Beverly Canyon, Geronimo and Prima Canyon Trailheads and the South Mountain Park and Preserve. The apartments are also just 30 minutes from Scottsdale, home to the prominent Echo Canyon hiking trail and premiere shopping and retail including Scottsdale Fashion Square and Kierland Commons.

The JLL Capital Markets team representing the borrower was led by Director Tim Brousse.

“JLL is excited to have been able to provide attractive acquisition financing for Haven at South Mountain and is looking forward to seeing the continued growth of both Sunrise Multifamily and Intrust Property Group,” said Brousse.

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales advisory and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.  

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.