PHOENIX, ARIZ.– NAI Horizon represented the buyer in the $1.895 million ($52 PSF) acquisition of a freestanding industrial building at 1710 E. Washington St., in Phoenix.

NAI Horizon Senior Vice President Jeff Adams represented Nationwide Surplus Holdings, LLC, an Arizona Limited Liability Company of Mesa, Arizona, in the purchase of the 36,556-sqare-foot building.

The property is the former Desert Liquidators building. It will be converted into an electronic recycling, refurbishing and resale facility. It is a freestanding building with arterial frontage and a fenced area that includes parking and truck-well loading.

Built in 1981, the property includes 2,500-square-feet of office space. It sits on 1.44 acres, features clear ceiling height of 14 to 18 feet and includes three dock-high doors for loading and three drive-in grade-level doors.

“Nationwide Holdings LLC is the real estate entity for a couple of complementary Phoenix-based companies that has now expanded nationally in multiple cities throughout the country,” Adams said. “I sold them their first facility here in Phoenix at roughly the same size or larger with some land for potential expansion in early 2012.

“Both were discounted frontage facilities which would allow them to do some level of building rehab in order to feature their sustainability aspects and still operate affordably with reasonable margins. The main company is a well-run entity that is expanding rapidly, in large part due to unique, proprietary models and methods, which no competitor in their industry currently has,” Adams said.

The seller, RMO Holdings LLC, a Wyoming Limited Liability Company headquartered in Florida, was represented by Rob Martensen and Sam Jones of Colliers International.

PHOENIX, AZ, – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of MacAllister Phoenix Apartments, a 24-unit apartment property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset commanded a sales price of $4,150,000 or $172,917 per unit.

Rich Butler, a Senior Vice President Investments in Marcus & Millichap’s Phoenix office as well as Sean Connolly, a multi-family specialist negotiated the sale on behalf of both the seller and buyer.

“Built in 2018, MacAllister Phoenix Apartments is comprised of studio, one-bedroom and two-bedroom units, all of which feature a functional floor plan with high ceilings, vinyl plank flooring, granite counter tops, stainless steel appliances, and an en-suite washer and dryer. The community includes a resort-style pool, along with a dog park and covered parking readily available to residents,” said Butler.

The property is located at 2016 West Orangewood Avenue in Phoenix, Arizona. “MacAllister Phoenix Apartments is less than one mile from Interstate-17 and in very close proximity to Christown Spectrum Mall with retailers such as Costco, Walmart, Target, and Harkins Theatre. The property is also near the Abrazo Medical Center and Grand Canyon University. Residents also enjoy the proximity to the Phoenix Metro Light Rail, which has a rail station within walking distance from the property at 19th Avenue and Northern Avenue. This transportation option becomes an invaluable benefit to tenants requiring transportation flexibility,” added Connolly.

TUCSON, ARIZONA — The Rio Nuevo Board of Directors advanced a project to help make Rocco’s Chicago Style Pizzeria one of the first new tenants of the Sunshine Mile redevelopment project along East Broadway.

The restaurant will move about a half-block west to the Solot Plaza into a 6,000-square-foot building at 2635 E. Broadway that’s about three times the size of its current location at 2707 E. Broadway.

The new location, designed by Intertech Architectural Interiors, will feature a large group party area and a designated bar area. Pizzeria owner Rocco DiGrazia said his business has rapidly grown after a sign on the restaurant’s marquee went viral and an appearance on the Food Network show Diners, Drive-ins and Dives.

The Board unanimously agreed to proceed with the financing of the project, which includes a $500,000 loan for renovations, a lease of up to 25 years and a rebate on site-specific sales tax.

The Sunshine Mile is an effort to improve and upgrade Broadway Boulevard between Euclid Avenue and Country Club Road and bring new life to the gateway into downtown Tucson.

In other business, the Board voted to hire Swaim Associates as the Project Manager for the $65 million plan to renovate and upgrade the Tucson Convention Center and surrounding campus, including the Tucson Music Hall, Leo Rich Theater and the Eckbo Plaza and Fountain. After a recommendation by Phil Swaim, the Board then voted to hire GLHN Architects & Engineers to do the design work for the exhibition hall and meeting rooms.

The Board also voted to allow some Rio Nuevo-owned parcels on the West Side to be included in a coordinated area plan by the City of Tucson. Those parcels could include the Carrillo House and land near A Mountain, including West Mission Lane. Board member Mark Irvin made the motion, which was unanimously approved, provided that it would be part of a larger, comprehensive plan for the West Side.

More information on these projects and Downtown can be found at RioNuevo.org.