PHOENIX, Arizona – Cushman & Wakefield has announced that Scottsdale-based HonorHealth signed a 5,000-square-foot  lease at Physicians Medical Plaza of North Mountain, located at 9250 N. 3rd Street in Phoenix. Sheila Bale, Tom Weinhold and Ryan O’Connor of Cushman & Wakefield represented both HonorHealth and the real estate owner, Physicians Realty Trust (NYSE: DOC), in lease negotiations.

Lynn Moreno, vice president of real estate for HonorHealth stated, “The space was nicely designed and ready to occupy with very few changes. It saved us significant time and money because of the condition of the suite.”

Physicians Medical Plaza of North Mountain is a 121,976-square-foot medical office building on the campus of HonorHealth John C. Lincoln Medical Center. HonorHealth plans to use the location for gastroenterology services to patients needing care in the North Central Phoenix area.

Bale stated, “We are able to offer aggressive rates and accommodate a spectrum of medical groups of varying sizes with suites ranging from 1,500- up to 30,000-square-feet at the property. As physician groups get larger, hospital specialist groups grow in size, and North Central Phoenix continues to grow in population density, this flexibility is a distinct advantage.”

BUCKEYE, 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 Burger King, a 3,237-square foot triple-net-leased property located in Buckeye, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,525,000 ($471 PSF).

The buyer, a partnership, was procured by Chris Lind, Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office. Burger King is located at 1315 South Watson Road in Buckeye, Arizona about one mile south of Interstate-10 surrounded by dense residential neighborhood. The property has great visibility from Yuma Road, which sees more than 23,000 vehicles per day, as well as Watson Road, which sees more than 14,000 vehicles per day.

TUCSON, 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 Amphi Gardens, a 24-unit apartment property located in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Tucson and Phoenix offices, the asset sold for $1,725,000 ($71,875 per unit).

James K. Crawley and Hamid Panahi, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the sellers, two family trusts. “The sellers had enjoyed an unprecedented 55 years of continuous ownership of Amphi Gardens,” Crawley stated. “Offering a mix of large two- and three-bedroom units in the Hedrick Acres neighborhood, the single-story community has been meticulously maintained for five decades.”

“The property presented an opportunity to both increase rents and reposition the classic condition interiors to match what other communities are experiencing within the neighborhood. Due to its proximity north of the University and the Campbell Avenue Retail Corridor, Hedrick Acres has seen an influx of capital investment with corresponding rent premiums,” Crawley explained.

Amphi Gardens is located at 2853-2939 North Euclid Avenue in Tucson, Arizona. The 24-unit community, situated on 1.75 acres consists of 12 two-bedroom/one-bathroom units and 12 three-bedroom/two-bathroom units averaging 1,050 square feet. The community was developed in 1964 with burnt adobe brick construction. Apartment interiors feature well equipped-kitchens, an electric range, and washer/dryer hook-ups. Community amenities include a sparkling pool, individual car ports, and large grass courtyards.

The buyer, Taylor Street Investments, L.L.C. was represented by Joseph Chaplik of Joseph Bernard Investment Real Estate.