Cushman & Wakefield Negotiates Sale on Behalf of Birtcher Anderson Realty

PHOENIX, Arizona – Cushman & Wakefield announced that Birtcher Anderson Realty of San Juan Capistrano, Calif. sold Fiesta Tech Business Centre, a 91,544-square-foot office campus located at 2150-2220 S. Country Club Drive in Mesa, Ariz. A private investor in North Hollywood, Calif. purchased the property for $11.375 million ($124. PSF)

Bob Buckley, Tracy Cartledge and Steve Lindley of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller. Jim Zemezonak of Boulder Realty Advisors represented the buyer.

Built in 1986 and 1991, Fiesta Tech Business Centre was renovated in 2018. Upgrades to the common areas, restroom and parking lot positioned the project to capitalize on the strong Southeast Valley market.

“Fiesta Tech was a successful value-add investment for Birtcher Anderson,” said Buckley. “The renovations they completed in 2018 contributed to strong leasing activity at the property. Now stabilized, Fiesta Tech should prove to be a secure investment for the buyer.”

Fiesta Tech Business Centre is a four-building, single-story suburban office property located on State Route 87, offering major street frontage along Country Club Road. It is currently 94.3 percent occupied by a wide range of tenants, including companies in the legal, healthcare, government/nonprofit, aerospace, education and financial services industries.

AVONDALE, AZ. – Developer Brookfield Residential (Arizona) LLC broke ground on its next master-planned community in Avondale, Arizona on Thursday, April 4, 2019. In attendance were the Brookfield Residential management team and staff, along with over 60 guests that included City of Avondale elected officials, City Council and staff, and dozens of Brookfield Residential partners and consultants.

Opening remarks were delivered by Brookfield Residential Arizona Division President, John Bradley, who welcomed attendees and recognized the strong collaborative partnership with Brookfield Residential and the City to add Alamar to the City’s sustainable communities’ initiatives. 

“The Brookfield team is excited to start work within a special part of the valley that enjoys a very rich heritage. We saw tremendous potential here from the beginning, as did many others who wanted to see Avondale reach its full potential. We are grateful for the City’s leadership, vision and support to help us reach this point, along with many other valued partners who join us today, says Bradley.

Brad Chelton, Sr. Vice President of Brookfield Residential Arizona spoke about the importance of the April 4 milestone. “A groundbreaking like this is a huge milestone for the City of Avondale and for Brookfield Residential. It reflects years of intense planning, work sessions, and critical meetings with many stakeholders who ultimately align with a common vision to better their community. This truly is a partnership and we are honored to be building a best-in-class community for Avondale’s future,” says Chelton. 

Alamar is located just north of the Sierra Estrella Mountains at Avondale Boulevard and Broadway Boulevard on a 1,130-acre site formerly owned and farmed by the Lakin family. It represents the first large master-planned community to be developed in the Valley since Eastmark launched in 2013. Alamar is entitled for up to 3,695 single family home and the first development phase will consist of 461 home sites developed within 5 distinct neighborhoods.

“Alamar will be a huge attraction as additional companies choose Avondale and the West Valley for their new corporate locations.  The vast array of housing choices and amenities will make Alamar a community of choice for new residents,” says Avondale Mayor Kenneth Weise. 

The Alamar community also has plans for a 41-acre regional community park co-developed with the City of Avondale as well as many other spacious community and neighborhood parks. Over 20 acres have been designated for a future Littleton Elementary School site. Alamar’s Grand Opening is projected for late 2020. 

“We are deliberately focused on the City’s sustainable communities’ initiative with green spaces and connected corridors. One of Alamar’s key amenities will be a well-amenitized 41-acre public park for hosting large gatherings, recreational activities and popular events year-round. And Alamar’s generous open spaces and numerous parks and trail systems will be ideally suited for families seeking a lifestyle of health and wellness,” says Chelton.

“Brookfield intentionally seeks to develop and build in areas where its leaders understand long-term investment and are dedicated to providing high standards of living for families and businesses. When we approached Avondale officials three years ago, we found special, like-minded partners who understood right away what we were hoping to achieve. Their vision and support have turned our mission into an important future icon for Avondale residents,” says Bradley.

Brookfield Residential is a development partner of Eastmark in Mesa, AZ (in conjunctions with DMB Associates Inc.), Harvest at Queen Creek in Queen Creek AZ and Trilogy at Verde River, Rio Verde, AZ (in conjunction with TerraWest Communities LLC) and San Tan Ridge, North Pinal County. 

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from April 1 thru 5, 2019.

INDUSTRIAL – 3840 S. PALO VERDE RD., TUCSON
Ministerios Zoe, Inc. leased 6,600-square-feet at 3840 S. Palo Verde Rd., Suite 201 in Tucson, from Palo Verde Trust Partners, LLC.  Rob Glaser, SIOR, CCIM and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 5151 E. BROADWAY BLVD., TUCSON
Summit Funding, Inc. leased a total of 5,819-square-feet of office space at 5151 E. Broadway Blvd., Suite 700 in Tucson, from Tucson 5151 Investments, LLC.  Thomas J. Nieman and Richard M. Kleiner, MBA, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Ryan McGregor and Brandon Rodgers, SIOR, CCIM, with Cushman & Wakefield | PICOR, and Toria Kaufman with Gallaway Commercial, represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $22.00 -$27.00 SF/YR Full Service Gross; Tenant Phone: 520.873.9105[/mepr-show]

INDUSTRIAL – 1664 S. RESEARCH LOOP, TUCSON
Nelson Precision Manufacturing, LLC & Boogeyman Customs, LLC leased 3,760-square-feet at 1664 S. Research Loop, Suites 232-240 in Tucson, from Clairemont Partners, LLC.  Max Fisher and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $8.28 SF/YR Modified Gross; Tenant Phone: 520.792.0775[/mepr-show]

INDUSTRIAL – 1639 W. GRANT RD., TUCSON
Golden State Overnight leased 3,300-square-feet at 1639 W. Grant Rd. in Tucson, from Rodgers Hoge Partners.  Brandon Rodgers, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Michael Petrick with Fischer and Company, represented the tenant.

INDUSTRIAL – 245 S. PLUMER AVE., TUCSON
Desert Earth & Wood, LLC leased 2,400-square-feet in Commerce Plaza, located at 245 S. Plumer Ave., Suites 14 and 15 in Tucson, from Plumer Partners, LLC.  Paul Hooker and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $7.80 – $8.40 SF/YR Modified Gross; Tenant Phone: 520.624.5602[/mepr-show]

RETAIL – 3007 E. SPEEDWAY BLVD., TUCSON
Famous Dave’s Bar-B-Que leased 2,307-square-feet in Speedway Center located at 3007 E. Speedway Blvd. in Tucson, from Mahoney Family Partnership.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord; Craig Finfrock with Commercial Retail Advisors, represented the tenant.

RETAIL – 4500 E. SPEEDWAY BLVD., TUCSON
Thread Ready leased 1,600-square-feet in the Midway Business Center, located at 4500 E. Speedway Blvd., Suite 13 in Tucson, from Presson Midway, LLC.   Paul Hooker and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $8.88 – $9.60 SF/YR Modified Gross; Tenant Phone: 520.333.2020[/mepr-show]

INDISTRIAL – 41 S. 6^th AVE., TUCSON
Pueblo Vida Brewing Co. leased 1,485-square-feet at 41 S. 6^th Ave. in Tucson, from Rich Rodgers Investment, Inc.  Brandon Rodgers, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord; Curt Stinson with Engel & Volkers Tucson, represented the tenant. [mepr-show rules=”58038″]Tenant Phone: 520.623.7168[/mepr-show]

RETAIL – BROADWAY ALBERTSON’S SHOPPING CENTER, TUCSON
Serenity Nails renewed their lease for 1,300-square-feet of retail space in the Broadway Albertson’s Shopping Center, located at the northeast corner of Broadway Blvd. and Harrison Rd. in Tucson, from Grabbert Ranch, Inc.  Rob Tomlinson and Greg Furrier, Retail Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.733.1500[/mepr-show]

INDUSTRIAL – 470 W. ROGER RD., TUCSON
JMRB Enterprises, LLC leased a total of 1,296-square-feet of industrial space located in the Roger at Oracle Business Center, 470 W. Roger Road, Suite 108 in Tucson, from Roger 14, LLC.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $12.00 SF/YR Modified Gross[/mepr-show]

RETAIL – 4500 E. SPEEDWAY BLVD., TUCSON
Tucson New Thought, Inc. leased 1,067-square-feet in Midway Business Center, located at 4500 E. Speedway Blvd., Suite 7 in Tucson, from Presson Midway, LLC.  Paul Hooker and Rob Glaser, SIOR, CCIM, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $8.88 – $9.60 SF/YR Modified Gross; Tenant Phone: 520.406.3232[/mepr-show]

OFFICE – 2020 N. FORBES BLVD., TUCSON
D2K Enterprises, LLC leased 1,056-square-feet at 2020 N. Forbes Blvd., Suite 101 in Tucson, from Santo Tomas Partners, LLP.  Brandon Rodgers, SIOR, CCIM, and Ryan McGregor, with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $13.50 SF/YR Modified Gross[/mepr-show]

OFFICE – 5151 E. BROADWAY BLVD., TUCSON
Lesher & Corrandini, PLLC renewed their lease for 1,032-square-feet of office space at 5151 E. Broadway Blvd., Suite 1540 in Tucson, from Tucson 5151 Investments, LLC. Thomas J. Nieman and Richard M. Kleiner, MBA, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. T[mepr-show rules=”58038″]enant Phone: 520.747.7790[/mepr-show]

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