GLENDALE, Ariz. – 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 a former Pet Club, a 6,200-square-foot single-tenant vacant property located in Glendale, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,160,000 ($187 PSF).

Cassandra Mosser, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. “The property had been previously listed and exposed by two other brokers before I secured the assignment,” Mosser explained. “The transaction required an immense amount of time and effort which led us to the right buyer pool, and inevitably the final buyer.” The former Pet Club was purchased by a buyer that plans to lease the building and sell the asset soon after.

The former Pet Club property is located at 17024 North 67th Avenue in Glendale, Arizona. The property was built in 2000 and sits on 0.84 acres of land. It benefits from being located just off West Bell Road and North 67th Avenue, which is visible to over 54,300 cars daily. Additionally, this area is heavily populated area with almost 11,000 people within a one-mile radius, further contributing to the steady traffic counts in the area throughout the day.

A $2.9 million sale of Monterey Vista Village Shopping Center in Chandler, Arizona highlights the transactions from Rein & Grossoehme in Phoenix this week along with multiple retail leases throughout the metro Phoenix area, from Surprise to Mesa.

SALE TRANSACTION

Jared Lively of Rein & Grossoehme represented California-based investor Rosebud Omega, LLC on the $2.9 million ($296 PSF) purchase of 9,794-square-foot retail property, at 980 E. Pecos Rd. in Chandler, Arizona. The property known as Monterey Vista Village was sold at a 7.89% cap rate on 85% Occupancy. The seller was MVV Retail I, LLC.  Steve Julius and Jesse Goldsmith of CBRE represented the seller.

LEASE TRANSACTIONS

RETAIL – 14419 W MCDOWELL RD., GOODYEAR, AZ
A lease for 2,621-square-feet in Palm Place Plaza to MBI Urgent Cares, Inc was recently consummated. The location of the property is 14419 W. McDowell Road in Goodyear, AZ. The owner of the center is MB Rentals, LLC. Jared Lively of Rein & Grossoehme CRE represented the Tenant in this transaction.

RETAIL – RED MOUNTAIN PLAZA – 9124E APACHE TRAIL, MESA, AZ
A lease for 1,820-square-feet in Red Mountain Plaza to Third Eye Body Art was recently consummated. The location of the property is 9124 East Apache Trail in Mesa, AZ. The owner of the center is Red Mountain Retail Group.  Matt Harper of NAI represented the owner and Jim Edwards of Rein & Grossoehme represented the tenant.

RETAIL – LAVEEN VILLAGE MARKETPLACE SHOPPING CENTER, LAVEEN, AZ
A lease for 1,717-square-feet at the Laveen Village Marketplace Shopping Center to The Neck & Back Clinics was recently consummated. The location of the property is 5270 W. Baseline Rd Suite 150 in Laveen, AZ. The Neck & Back Clinics has 9 other locations. The owner of the center is Litwin Management.  Erik Litwin of Litwin Management represented the owner and Jake Ertle of Rein & Grossoehme represented the tenant.

RETAIL – GREENWAY CROSSING, 16630 W GREENWAY RD., SURPRISE, AZ
A lease for 1,357-square-feet in Greenway Crossing to Kustom Kuts was recently consummated. The location of the property is 16630 W. Greenway Rd. in Surprise, AZ.  Jim Edwards and Kevin Roessler of Rein & Grossoehme represented the owner.

RETAIL – GC PLAZA, 3601 W CAMELBACK RD., PHOENIX, AZ
A lease renewal for 1,200-square-feet in GC Plaza to Music Store/Discoteca was recently consummated.  The location of the property is 3601 W Camelback Rd. in Phoenix, AZ.  The owner of the center is JARM, LLC. Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.

RETAIL – METRO VILLAGE, 12426-12456 N 28^TH SR., PHOENIX, AZ
A lease for 830-square-feet in Metro Village to Certa Pro Painters of Peoria was recently consummated. The location of the property is 12426-12456 N 28th Dr. in Phoenix, AZ.  Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.

RETAIL – GC PLAZA, 3601 W CAMELBCK RD., PHOENIX, AZ
A lease for 800-square-feet in GC Plaza to Lifestyle Barbershop was recently consummated. The location of the property is 3601 W Camelback Road in Phoenix, AZ. The owner of the center is JARM, LLC.  Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and the tenant.

SCOTTSDALE, ARIZ. – Sigma Contracting, Inc. continues to grow its staff and presence in the Southwest with the hiring of another superintendent and a new project manager.

Sigma is pleased to announce the hiring of Superintendent Ron Alderman and Project Manager John Russell. They each have spent 23 years in the industry.

Originally from Canandaigua, N.Y., Alderman will oversee the operations of his current construction site, the new Mountainside Fitness at 5320 E. Shea Blvd., Scottsdale. He will be responsible for daily scheduling, supervising all activities and tasks and ensuring the safety and compliance of the project site.

A native of Tucson who grew up in Pinetop, Russell will oversee a variety of projects, ensuring that plan documents are executed properly and that the superintendents and subcontractors have the proper direction and resources to meet deadlines. In overseeing their interests, Russell will collaborate with owners, employees and suppliers to oversee safety, adherence to schedule and budget.

“The demand for Sigma’s longevity of experience and expertise has led to an influx of projects that gave us the opportunity to bring on board this great pair of industry experts,” said Dan Hinkson, President of Sigma Contracting. “Together they bring a combined 46 years of experience and excellent skill sets. Just as we were thrilled to bring back Ben Gorbea, we are equally thrilled to have Ron and John join the team.”

Gorbea, who had previously worked for the Arizona-based general contracting company, was re-hired as a superintendent earlier this year. He is currently supervising a remodel and addition for Knight-Swift Transportation.

Prior to joining Sigma, Alderman worked at GCON Inc., in Phoenix, and Wasson Commercial Contracting in Mesa. He also worked at A.R. Mays. A member of the Army National Guard from 1993 to 1999, Alderman graduated from Hobart College in Geneva, N.Y. He earned a BA in economics.

Russell also joins Sigma from GCON, where, in addition to project management, he implemented, enforced and managed the company’s safety policy and procedures. He was director of construction for Children’s Learning Adventure.  The father of four boys, Russell is a youth basketball coach and enjoys camping, fishing and hiking.