TUCSON, ARIZONA — Crystal Tree Traders, LLC (Daniel Lamb, member) dba The Girls Estate Sales, purchased the former U Like Buffet, 9,625-square-feet of restaurant space located at 330 S. Wilmot Rd. in Tucson.  The property was purchased from AEI Investment Fund of St. Paul, Minnesota for $1,100,000 ($114 PSF).

The building has been vacant since the Asian restaurant closed in June 2017. There is another U Like Buffet at Oracle and River

The buyers plan to renovate for use as a retail store.

“The Girls” have become one of the most popular Estate Liquidation Services in Southern Arizona. Following the estate sale, any items not sold are taken to its retail store where each item is offered for three weeks. The first week the item will be priced at the regular Estate Sale Price. The second week, that item will be offered at 25% off, and finally the third week if the item has not sold it will be marked down to 50% off the original price. New items are brought in every Saturday Morning for the new week using a Color Tag System to help distinguish what price an item is being offered at.

Cushman & Wakefield | PICOR handled this transaction.  Greg Furrier and Rob Tomlinson, Retail Specialists, represented the seller; Brandon Rodgers, SIOR, CCIM, Industrial Specialist, represented the buyer in this transaction.

For more information, Furrier can be reached at 520.546.2735 while Tomlinson is at 520.546.2757 and Rodgers should be reached at 520.546.2714.

To learn more, see RED Comp #7056.

PHOENIX, Arizona — Valley-based multifamily investment firm Mark-Taylor has expanded its luxury apartment portfolio by 485 new East Valley units with the acquisitions of Avant at Fashion Center in Chandler and Lakeside Drive in Tempe. Mark-Taylor will handle the management and leasing of both new communities.

“Mark-Taylor is thrilled to expand our portfolio with these signature communities adjacent to two of the valley’s most dynamic locations with premium shopping, dining and robust economic scenes,” noted John Carlson, president of Mark-Taylor Residential. “This is a significant opportunity for us to extend premium service and luxury housing to even more East Valley residents looking to call Mark-Taylor home.”

Avant at Fashion Center, a 335-unit multifamily luxury community in Chandler, is well-located in a thriving community. With some of the Valley’s top shopping, dining, nightlife, and proximity to Chandler’s vibrant tech corridor, this location provides a luxury oasis for its residents. Avant is two minutes from the second largest shopping destination in Phoenix with 185 stores, 20-plus restaurants and wide variety of entertainment found at Chandler Fashion Center mall. Chandler is also the innovation and technology hub of the southwest, meaning plenty of high-paying tech, healthcare and management positions for residents.

Inside the complex, Avant offers high-end finishes and hardwood floors, spacious gourmet kitchens with open studio, one- and two-bedroom floor plans, stainless Energy Star appliances, optional walk-in closets, Sonos® sound systems, private garage, and 24-hour package concierge. The community also boasts a gorgeous outdoor resort-style pool, perks for pets, two-story fitness center and breathtaking demonstration kitchen.

Additionally, Mark-Taylor recently acquired Lakeside Drive, a 150-unit luxury multifamily community in Tempe near Tempe Town Lake.

“Lakeside Drive is in the midst of downtown Tempe, a thriving cosmopolitan area of talented professionals from all over the world and just blocks away from Arizona State University,” said Carlson. “Tempe has become a growing job hub for digital and emerging technology, plus numerous national employers have recently relocated their headquarters here, making Lakeside Drive an ideal location to live and work.”

Inside Lakeside Drive are elegant studios, one- and two-bedroom apartments, plus penthouse residences, each appointed with full gourmet kitchens, Energy Star appliances, granite countertops, and a premium technology package with smartphone resident access. Other amenities include pool deck with spa, private cabanas, outdoor entertainment pavilion, two-story state-of-the-art fitness center, exclusive rooftop lounge with panoramic views, as well as pet-friendly amenities.

Find out more about Mark-Taylor and what makes it the premier specialized multi-family management firm in Arizona by visiting https://www.mark-taylor.com/ or follow Mark-Taylor on Facebook, Twitter or Instagram.

New York buyer expands national suburban office portfolio with $107.6 million acquisition

MESA, Arizona – Following the execution of a strategic development, repositioning and leasing plan, Harvard Investments and Lincoln Property Company (LPC) have sold the Waypoint suburban Class A office campus for $107.6 million to Innovatus Capital Partners LLC (Innovatus), an independent advisor and portfolio management firm headquartered in New York City.

Totaling four buildings and almost one-half-million square feet at the borders of Mesa, Tempe and Scottsdale, Arizona, the project is the highest-priced office sale of the year in metro Phoenix. The seller was represented by Barry Gabel, Chris Marchildon and Will Mast of CBRE.

Waypoint, which sits near the confluence of the Loop 101 and 202 freeways within the highly amenitiezed Riverview District, is 98 percent leased.

“Waypoint was developed with a clear vision in one of the tightest, growing and popular office markets in metro Phoenix,” said Bradley Seiden, Managing Director of Innovatus. “The property is a very strong addition to our diversified portfolio of U.S. office properties located in emergent top-tier markets. Waypoint provides an opportunity to leverage our team’s operational expertise, provide additional improvements for our tenants and potentially develop another building.”

“Waypoint is a fantastic success story, encompassing two ground-up buildings developed by Harvard and Lincoln, and two buildings that we purchased, redeveloped and rebranded to create a cohesive office campus that now employs nearly two thousand,” said Harvard Investments President and CEO Craig Krumwiede.

Waypoint is leased to a high-quality list of national and local tenants including Cognizant, Verra Mobility, Mitel, Ashton Woods, Beazer Homes, Nextcare, Udall Shumway and EPS Group. LPC, who has served as the property manager for all four buildings, will maintain the management assignment as part of the firm’s almost 10 million-square-foot Phoenix property management portfolio.

“This sale marks the seventh U.S. transaction that Lincoln has completed with Innovatus in just 18 months,” said Lincoln Property Company Executive Vice President David Krumwiede. “We have a great history together and appreciate expanding the Innovatus and Lincoln partnership to greater Phoenix. We look forward to continuing our work with Innovatus and driving economic success in their targeted markets.”

Harvard and LPC developed the first, 108,956-square-foot building at Waypoint in 2014 as a build-to-suit that was fully pre-leased to Verra Mobility (formerly American Traffic Solutions) before the building was completed. In 2016 the partnership completed a second, 153,134-square-foot building and purchased two adjacent, existing buildings to create the four-building, 426,951-square-foot Waypoint campus, which spans 36 acres in the rapidly growing Riverview District.

Tenants at Waypoint enjoy a high-tech modern aesthetic, multi-story lobbies, creative workspaces, amenity areas and outdoor collaborative spaces. The Harvard/LPC-constructed buildings also offer 14-foot open ceilings and glass windows that begin at floor level and extend 11 feet high.

Waypoint sits adjacent to the mixed-use Riverview District, offering 1.3 million square feet of retail, restaurants, entertainment and the upscale Sheraton and Hyatt Place hotels. Also within Riverview are Riverview Lake and Sloan Park, home of the Chicago Cubs spring training facility. Waypoint is located just six miles east of Phoenix Sky Harbor International Airport and is minutes from Arizona State University’s main campus. The location provides convenient access to Loop 101 at Rio Salado Parkway, and the Loop 202 at Dobson and Alma School roads.

Dave Carder and Scott Boardman of Cushman and Wakefield were the property’s leasing agents.