This week’s Phoenix Lease Report this week highlights leases as reported by Rein & Grossoehme.

The following leases were conveyed to the Real Estate Daily News for Phoenix between October 26 thru October 30, 2020.

INDUSTRIAL – 2939 WEST CULVER, PHOENIX
A 21,650-square-foot industrial lease to Poolman was recently consummated. The location of the property is 2939 W Culver St in Phoenix, AZ 85009. Poolman is one of the largest commercial pool service companies in the United States. The owner of the property is Harrison Properties.  Max Schumacher of Rein & Grossoehme represented the Tenant.

RETAIL – 3345 WEST GREENWAY ROAD, PHOENIX
A lease for 2,730-square-feet within Greenway Village Square to SpiceSea Cajun Asian was recently consummated. The location of the property is 3345 W. Greenway Road in Phoenix, AZ. The owner of the center is Southwestern Holdings, LLC. Jared Lively of Rein & Grossoehme CRE represented both the Tenant and the Landlord on this transaction

RETAIL – 4139 WEST BELL ROAD, PHOENIX
A lease for 1,900-square-feet in Siete Square to La Cura Taco Shop was recently consummated. The location of the property is 4139 W. Bell Rd. in Phoenix, AZ. Kevin Roessler and Nic Chavira of Rein & Grossoehme represented the tenant and landlord.

RETAIL – 838 E. INDIAN SCHOOL ROAD, PHOENIX
A lease for 1,760-square-feet at 9th Street & Indian School Road Center to Fresh Apparel & Footwear was recently consummated. The location of the property is 838 E. Indian School Rd. in Phoenix, AZ. Kevin Roessler of Rein & Grossoehme represented the tenant and owner.

OFFICE – 4223 N 38th DRIVE, PHOENIX
A lease for a 1,200-square-feet office on 5 acres to C&K Trucking was recently consummated. The location of the property is 4223 N 38th Dr in Phoenix, AZ. C&K has 16 other locations across the United States. The owner of the property is Harrison Properties. Max Schumacher and Patrick Sheehan of Rein & Grossoehme represented the Tenant. Max Schumacher and Patrick Sheehan specialize in the leasing and sale of industrial properties, specifically heavy industrial facilities, and properties with a large land component.

RETAIL – 3345 N 19th AVENUE, PHOENIX
A lease for 590-square-feet in the Shopping center at the SEC of 19th Avenue and Osborn to Integrity Staffing was recently consummated. The location of the property is 3345 N 19th Avenue in Phoenix, AZ. The owner of the center is CVP – 19th Avenue & Osborn, LLC.  Jake Ertle and Nic Chavira of Rein & Grossoehme Commercial Real Estate represented the owner and Matt Fitz-Gerald of Colliers represented the tenant.

Submit sales and leases to [email protected]

Seattle, WA- Thayer Manca Residential (TMR) has purchased Entrada Apartments, their newest multifamily property in Tucson, AZ. TMR purchased the 424-unit property for $65.5 million and is the largest acquisition to date for the company.

With a $4.9m renovation budget, the repositioning plan includes a full marketing rebrand, high-end renovation scope for the remaining classic units, the addition of washers and dryers to units without, modernizing the 24-hour fitness center, enhancing the pet park and sports court, adding package lockers and completing a variety of additional capital upgrades.

“We believe Tucson is one of the most vibrant apartment rental markets in the nation. We are thrilled to add this exceptional asset to our Arizona portfolio,” says Joe Manca, Principal at TMR. 

Entrada enjoys a premier location in the Catalina Foothills district of north Tucson, an exclusive, upscale commercial and residential sub-market and sits directly on The Loop. The property is located off one of the area’s primary east-west thoroughfares, East River Road and is just 4.5 miles north of the University of Arizona, Banner Medical Center and Comcast. It’s also very close to north Tucson’s medical district. Entrada’s residents are within minutes of 1.3M SF of retail and dining.

Entrada is the second property in Tucson for TMR. The firm purchased the 368-unit, Palm Canyon Apartments for $40.3 million in 2019. 

Entrada Apartments is located at 4545 N Via Entrada, Tucson, AZ 85718. 

Based in Seattle, Washington, Thayer Manca Residential LLC (TMR) is a sponsor of partnership, multifamily investments specializing in value-add opportunities. TMR is driven by a commitment to protect and grow investor capital while delivering safe, clean and inspired homes to the market at highly competitive rental rates. Disciplined business practices, conservative investment parameters and a hands-on asset management style, have produced outstanding returns for investors. 

During the company’s 39 years of operation, TMR has closed more than a billion dollars of partnership, multifamily transactions, generating outstanding cash flow and capital gain profits for investors. The company is proud of its 39-year track record without a single capital loss.  

Art and Clint Wadlund of Berkadia Real Estate Advisors Tucson handled the transaction.

Former Radisson Hotel Group Franchise Sales & Development Leader Moves Into Brokerage

Phoenix, Arizona – Ryan Wall has joined the Hospitality Team at Colliers International in Arizona. The former head of Franchise Sales and Development in the Southwest for Radisson Hotel Group has transitioned to brokerage of hospitality assets.

“Ryan brings great skills as a negotiator and sales professional,” says Bob Mulhern, senior managing director of Colliers International in Arizona. “His experience in the hospitality industry and as a valuation consultant enhances the services of our outstanding hospitality team.”

Wall joins James Meng, Jon Grantham and Mike Montoya on the Phoenix-based team. The team provides extensive advisory services and representation to clients in the disposition, management and acquisition of hospitality-related assets. They also advise companies and owners pursuing the monetization of real estate holdings through hospitality asset financing.

Prior to working with Radisson Hotel Group, Wall served as director of Consulting and Valuation for HVS Consulting. In this role at the hotel appraisal and consulting firm, he worked on portfolio valuations for a wide variety of hospitality clients.

Wall holds a Bachelors of Arts degree from the School of Hospitality Business at Michigan State University. He also is certified by the Hotel Real Estate Investments and Asset Management program at Cornell University