PHOENIX, Arizona – CBRE announced today that the firm has completed the sale of the La Ronde Medical Centre, located at 14620 North Del Webb Boulevard in Sun City, Ariz. Chris Bodnar, Lee Asher, Shane Seitz, Ryan Lindsley and Sabrina Solomiany with CBRE U.S. Healthcare Capital Markets and Andrew Fosberg and Dylan Brown with CBRE Phoenix Retail Investment Properties were the seller’s exclusive advisors. The selling entity was Sun City Development Group, LLC, led by Colin Brown with Whiteboard Development Co. The buyer, a confidential entity, purchased the property in a sale that closed on January 29, 2019.

“The seller injected a significant amount of capital into this asset over the last couple of years and has successfully repositioned the property into a vibrant outpatient medical center,” said Chris Bodnar, Vice Chairman, CBRE. “Approximately sixty-percent of the property is anchored by two well established surgery centers which drove significant demand by both institutional and private capital investors focused on healthcare real estate.”

The single-story building was originally constructed in 1972 as a retail center and was completely renovated in 2015 and 2016 into a forward-thinking, integrated health and wellness campus. The property features large glass tenant entries, expansive 10-foot ceilings, building signage, and an intimate and collaborative patient/doctor environment. The 88,400-rentable-square-foot facility was awarded the “Medical Redevelopment of the Year” by the National Association of Industrial and Office Properties (NAIOP) in Phoenix in 2016.

“We are deeply committed to the Phoenix market and are proud to have served as a catalyst to revitalize Sun City’s commercial hub,” said Colin Brown, Principal, Whiteboard Development Co. “We are proud to execute on a vision where efficient design can foster physician practice growth and success. The buyer is specialized in the ownership of healthcare assets nationally and will be a great steward to the tenants and patients that receive care at La Ronde Medical Centre.”

Whiteboard Development Co. is a privately held, real estate investment and development company headquartered in Phoenix. The firm specializes in the development, acquisition and redevelopment of commercial real estate assets throughout the Southwest.

PHOENIX, ARIZONA – NAI Horizon is pleased to announce that Matt Harper, CCIM, has been promoted to Vice President.

Harper wrapped up a stellar 2018, leading NAI Horizon brokers with the most transactions by an individual, 63 (worth $28.8 million). He closed out 2018 representing the buyer in a $4.7 million ($396 PSF) acquisition of a freestanding, 11,878–square-feet, four-tenant retail PAD in Glendale, Arizona.

Harper ranked No. 9 among the Top 10 Producers for 2018. He holds the prestigious designation of Certified Commercial Investment Member (CCIM) and is the 2019 Secretary/Treasurer for the Central Arizona chapter of CCIM.

“Matt exemplifies what it takes to be a successful member of our NAI team,” said Terry Martin-Denning, President and CEO of NAI Horizon. “I am delighted to reward Matt’s hard work and client-focused approach with this well-deserved promotion.”

Harper, who joined NAI Horizon in June 2017, focuses on retail leasing and sales.

“Having the resources available through NAI Horizon and the NAI Global platform, along with a vibrant retail market in the Valley, contributed to my success the last year,” Harper said.

ORO VALLEY, ARIZONA — Northland Investment Corporation of Newton, MA (Matthew Gottesdiener, Chief Investment Officer) acquired Canyons at Linda Vista Trail, a 228-unit luxury apartment community in Oro Valley, for $41.25 million ($181,000 per unit). The purchase of the new development completed in 2014 by Boulder Oro Valley (Ross Rulney, manager) marks Northland’s second acquisition in Oro Valley.

Art and Clint Wadlund of Berkadia in Tucson handled the transaction for the seller. It closed January 8, 2019.

“Northland wanted to add and upgrade its Tucson portfolio,” Art Wadlund told us. “They also own Villas at San Dorado, and now have two of the nicest resort-style luxury apartment communities in beautiful Oro Valley submarket.”

In addition to the Oro Valley properties, Northland owns Hilands I & II and Promontory in Tucson.

Canyon at Linda Vista Trail is located at 9750 N Oracle Road and consists of one-, two- and three-bedroom apartment homes in 17 buildings spread out across 13 acres. It is fully stabilized and sold 96% occupied.

Residents enjoy high end apartments with convenient access to Canada Del Oro Riverfront Park, local parks, restaurants, shopping and entertainment; all with the gorgeous views of the mountains. Community amenities include gated access, hiking trails, pool & spa, state-of-the-art fitness center, pet park, putting green, clubhouse, bocce ball court, in-home washer & dryer, hardwood flooring, quartz countertops and stainless-steel appliances.

For more information, Art Wadlund should be reached at 520.299.7200 and Clint Wadlund is at 520.615.1100.

To learn more, see RED Comp #6497.