PHOENIX, ARIZONA — Rein & Grossoehme recently closed on three industrial deals valued at $9.05 million.

INDUSTRIAL – 1705 W PARKSIDE LN, PHOENIX
The sale of 1705 W Parkside Ln, a 33,871-square-foot industrial building built in 2001 and renovated in 2018 was recently recorded. The location of the property is 1705 W Parkside Ln in Phoenix, AZ. The property sold to ZBH/Parkside, a owner/user. The seller was M & D Investments AZ, LLC. The sales price was $4.1 million which equates to $121 per square foot.

Chris Rogers and Trevor McKendry of DAUM Commercial Real Estate represented the seller and Max Schumacher and Patrick Sheehan of Rein & Grossoehme represented the buyer. The Sheehan/Schumacher team specializes in the sale of industrial buildings in the Phoenix market.

INDUSTRIAL – 10821 N 23RD AVE, PHOENIX
The sale of 10821 North 23rd Ave, a 41,000-square-foot Industrial Manufacturing building built in 1977 was recently recorded. The property sold to Dunbar Real Estate Investment LLC, out of El Segundo CA. The seller was 10821 North 23rd Ave Building LLC. The sales price was $2.95 million which equates to $71.00 per square foot. The building was 100% occupied at closing.

Steve Grossoehme of Rein & Grossoehme Commercial Real Estate represented both the Seller and the Buyer. Steve Grossoehme specializes in the sale of investment and Owner/User Industrial Buildings.

LAND – SOUTH ARIRPORT SUBMARKET, PHOENIX
The sale of 2818 E Illini St, an 18,000-square-foot industrial building on 1.95 acres built in 1960 was recently recorded. The property is located in the South Airport submarket in Phoenix, AZ. The property sold to Quail Corp a construction company. The seller was Redeka Ventures, LLC. The sales price was $2 million which equates to $111 per square foot. The seller was an owner/user and the buyer will be the same.

Patrick Sheehan and Max Schumacher of Rein & Grossoehme represented the seller and Rick Hall of Rick Hall Commercial Brokerage represented the buyer. The Sheehan/Schumacher team specializes in the sale of industrial buildings in the Phoenix area.

Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.

Phoenix, Arizona – CBRE arranged the sale of the 512-unit multifamily community Biscayne Bay on behalf of Everest Holdings to San Diego-based MG Properties for $110.25 million ($215.332 per unit).

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Everest Holdings. Financing was arranged by Rocco Mandala of CBRE Debt & Structured Finance.

Located at 300 E. Warner Road in the Chandler submarket of Phoenix, Biscayne Bay features two swimming pools, volleyball and basketball courts, kid’s playground, covered picnic areas with barbecue grills, putting green, parcel pending locker for resident packages, and a dog park. Large one, two, and three-bedroom units have nine-foot ceilings, decorative crown molding, well-appointed kitchens, walk-in closets, full-size washers and dryers, and large patios.

“Value-add communities in outperforming submarkets are in high demand,” Cunningham said. “Biscayne Bay provides an excellent opportunity to reposition a stable asset in one of the best multifamily environments in Metro Phoenix.”

According to data analyzed by CBRE Research, the Chandler/Gilbert multifamily submarket led all Metro Phoenix areas in 2018 with 2,425 units of positive net absorption. Occupancy in the submarket in Q2 2019 was 96 percent.

“Biscayne Bay was an excellent fit for our acquisition criteria and will complement our Phoenix portfolio,” said MG Properties CEO Mark Gleiberman. “The community is well-positioned to capitalize on strong regional fundamentals and will allow us to further scale our operations in the region.”

MG Properties Group specializes in the acquisition, development, rehabilitation and management of apartment communities throughout the western United States. Since 1992, the company has acquired and managed over 142 properties totaling over 32,000 units. Today, MG Properties Group manages over 20,000 apartment homes in over 70 communities in high-growth cities in California, Arizona, Nevada, Washington and Oregon. The company’s apartment portfolio has a total market value of over $3 billion.

Disabled veterans to trek Big Bend National Park and Rio Grande River

TUCSON, Ariz. — Raytheon Company (NSYE: RTN) and the non-profit No Barriers USA today announced the 2019 Big Bend Veteran Wilderness Expedition team. Disabled veterans from Alabama, Arizona, New Mexico, Oklahoma and Texas will participate in the Raytheon-funded expedition Oct. 5-13 at Big Bend National Park on the Rio Grande River in Southwest Texas.

The expedition is designed to push participants physically and mentally, while providing a foundation for stretching goals, facing adversity and leading others.

“For the returning men and women of our armed forces who face physical, mental or emotional injuries, the transition back to civilian life frequently presents unique and significant challenges,” said Jon Kasle, vice president of Communications for Raytheon Missile Systems. “Through a process of individual introspection, teamwork and camaraderie, No Barriers expeditions help impacted veterans reclaim a more complete sense of purpose and gain confidence to improve their quality of life.”

By combining comprehensive curriculum with physically challenging activities such as long-distance hiking and rafting, disabled veterans gain new strategies and skills that help them confront and overcome barriers. Participants take part in online coursework before and after the expedition to internalize the “No Barriers Life” and receive continual support throughout all phases of the expedition.

The 2019 Big Bend Veteran Wilderness Expedition team includes:

• Alexandria “Zayna” Aranda – Albuquerque, New Mexico, U.S. Army.
• Charles Causbie – Tucson, Arizona, U.S. Army.
• Leonard Day – Window Rock, Arizona, U.S. Army.
• Margaret “Margo” Gonzales – Guthrie, Oklahoma, U.S. Air Force.
• William “Bill” Gwaltney – White Rock, New Mexico, U.S. Marine Corps.
• Steven Lumbley – Conroe, Texas, U.S. Army.
• Jose Machado – Lancaster, Texas, U.S. Army.
• Hector Rodriguez – San Antonio, Texas, U.S. Marine Corps.
• Pedro San Miguel – Enterprise, Alabama, U.S. Army.
• Alumnus Coach – Jeremy Spruce, U.S. Army, Oro Valley, Arizona.

This is the sixth year Raytheon and No Barriers have partnered for a veteran wilderness expedition. Previous journeys took teams to the Grand Canyon in Arizona, Rocky Mountains in Colorado and the Wind River Range in Wyoming.

No Barriers improves the lives of veterans with disabilities through curriculum-based experiences in challenging environments. Our experiences serve as both an opportunity for growth and a catalyst for change as these brave men and women stretch physical and emotional boundaries, foster camaraderie, pioneer through adversity, and step up and serve others. Through experiences that are one part adventure, one part curriculum and one part physical challenge, we show veterans that what’s within them is stronger than what is in front of them. The mission of No Barriers USA is to unleash the potential of the human spirit. Through transformative experiences, tools and inspiration, No Barriers helps people embark on a quest to overcome obstacles, live a full life and contribute their absolute best to the world. Follow them on Facebook and Twitter.