Vestis Group completed the sale of two adjacent apartment complexes, totaling 16 multifamily units, located at 4401 N 21st Street and 4405 N 21st Street, in the Biltmore-area of Phoenix, for $3 million or $187,500 per unit.

Phoenix, Arizona – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of two adjacent apartment complexes, totaling 16 multifamily units, located at 4401 North 21st Street and 4405 North 21st Street, in the Biltmore-area of Phoenix, for a combined sales price of $3 million or $187,500 per unit.

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs and Matt Morrell worked in conjunction with Jeff Seaman of CBRE, Inc., who negotiated the transaction on behalf of the seller, MODE Apartments + Homes of Phoenix. The buyer, a private investor from Scottsdale, Arizona, was represented by Victoria Miachika of Real Estate Intelligent Marketing, LLC.

21st Street & Turney Apartments, aka MODE @ 21st Street & Turney, is a 16-unit, midcentury modern, single-story, rental community located in the Biltmore-area of Phoenix, near Phoenix Children’s Hospital, Arizona Heart Hospital, and shops and popular eateries such as Binkley’s, Whole Foods, Trader Joe’s, Grassroots Kitchen & Tap, Pizzeria Bianco, Snooze, Sage Kitchen and The Parlor.

21st Street Apartments is a midcentury modern rental community located in Phoenix’s Biltmore Area, east of the SR-51 Piestewa Freeway, west of 24th Street, just north of Indian School Road, along Glenrosa Avenue, allowing easy access to The Shops at Town & Country, Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. The property is a short distance from the Grand Canal, which many people utilize for recreation, including running and biking.

Built in 1950, 1954 and 1971, 21st & Turney Apartments was fully remodeled and repositioned in 2018. The apartment community is comprised of sixteen (16) residential rental units, including one-bedroom, two-bedroom and three-bedroom units floorplans. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, granite countertops with porcelain tile backsplash, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, pet friendly accommodations and covered parking.

PHOENIX, ARIZ. – Looking to continue building connections through design expertise and industry leadership, Cawley Architects is celebrating its 25th anniversary with the naming of four new partners.

For the past quarter of a century, Cawley has been one of the most prolific architectural firms in the Valley. Over that time, it has applied its unique collaborative approach to create almost 800 structures of superior form, function and value.

“It’s been our privilege to participate in some of the top commercial projects throughout the Valley with an exceptional group of clients, contractors and design professionals,” said Sherman Cawley, founder of the company. “Along with my partner Paul Devers, we have built an exceptional team and have been fortunate to win many honors, awards, and accolades. Our employees are our most important asset.”

“As we celebrate our first 25 years in business and numerous successes in the community, Paul and I are pleased to share the most exciting celebration of all, announcing four new partners who will guide this company into the next 25 years,” Cawley said.

Cawley Architect’s new partners:

• Lynette Dreitz is Director of Finance and Administration. She oversees the firm’s financial and office administrative functions including financial reporting, cash management, billing, human resources and payroll. She has been with Cawley since 2013.
• Kevin Fawcett is Project Director and joined Cawley in 2013. He is responsible for overseeing the design and production of projects, negotiating with the various municipalities, assisting the principals in managing the office and expanding the firm’s client base.
• David Fulk is Project Director and responsible for initiating the design and programming of Cawley projects. He has been with the firm since 2016. Fulk is also responsible for coordinating and expanding the relationship with Cawley clients.
•  Rafael Macias is Director of Construction Administration and Quality Assurance. He oversees the coordination and confirmation of each drawing package the office produces. His duties also include mentoring, maintaining and improving Cawley’s construction documentation process. He has been with Cawley since 2014.

“Over the years Paul and I have invested time, effort and creativity to provide the resources and mentoring necessary for our staff to grow and succeed,” Cawley said. “With their dedication, attention to detail and exceptional leadership, I know that the legacy we have created will continue to grow and prosper.

“Each new partner brings their unique set of skills to those that we developed and fostered during the first 25 years. As we transition into new areas of responsibilities, Paul and I know that Lynette, Kevin, David and Rafael will continue to promote our values, high standards and exemplary customer service,” Cawley said.

Cushman & Wakefield sells Glendale and Tucson fast food restaurants

PHOENIX & TUCSON, Arizona – Cushman & Wakefield completed the sale of two Carl’s Jr.’s for a total of $3.4 million. The properties located at 1880 E. Broadway Boulevard in Tucson, Ariz. and 5775 W. Northern Avenue in Glendale, Ariz. were controlled by Strata Equity Corporation, Inc. and purchased by Phoenix-based Starcorp, LLC.

Chris Hollenbeck and Brad Douglass of Cushman & Wakefield represented San Diego-based Strata Equity Corporation, Inc. as the seller of the properties.

The two single-tenant fast food chain restaurants totaling 6,829-square-feet were 100% occupied at the time of sale by Carl’s Jr. 1880 E. Broadway Boulevard sold for $1.7 million and totals 2,600-square-feet. 5775 W. Northern Ave. also sold for $1.7 million and is 4,229-square-feet. Both were all cash deals.

The franchisee, Starcorp, plans to continue operating both of the locations as Carl’s Jr.

“Starcorp has been a well-known Carl’s Jr. and Hardee’s franchisee here in Arizona and we are glad they were able to purchase these properties to continue to operate the locations under the Carl’s Jr. name,” stated Hollenbeck.

For more information, Hollenbeck can be reached at 602.224.4475 and Douglass should be reached at 602.224.4406.

To learn more, see RED Comp #6744.

[mepr-show rules=”58038″]In a subsequent document, StarCorp sold the Carl’s Jr at 1880 E Broadway in Tucson in a sale leaseback agreement to investors for $1.775 million and a 6.5% cap rate.[/mepr-show]