Scottsdale-based Firm Closes Deal on Strip Center in Surprise 

Surprise, Ariz. — LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant retail center in Surprise, Arizona for $2.6 million.  

Located at 12100 N. Dysart Road, the sale was facilitated by Mark Cassell and Trenton McCullough of LevRose Commercial Real Estate. The property was sold to the Houston based buyer KM SKYWAY COMMONS, LLC. Cassell and McCullough represented the Denver based group, Surprise Retail, LLC c/o Northstar Commercial Partners in the transaction.

“We were extremely excited and honored to work with both groups on this transaction,” said Cassell. “Timing was perfect for both parties which allowed for a successful deal. Skyway has a great story and the Surprise market has a lot of growth to make it a key player in the Metro Phoenix Market. Skyway Commons will prove to be a fantastic investment due to the ‘service-based’ nature of strip. Investors are increasingly looking for shopping centers with a tenant roster like this that allows for upside through additional lease up.” 

With an expertise in office and retail, tenant/landlord representation and sales transactions, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally. 

For more information on LevRose Commercial Real Estate, please visit www.LevRose.com or call 480-947-0600.

 



Western Wealth Capital gives out 3,500 backpacks to kick off the new school year

PHOENIX, ARIZONA — Just in time for the new school year, Western Wealth Capital gave out 3,500 backpacks on July 16, including 2,095 in the Greater Phoenix area alone. 25 communities in the Valley participated in Western Wealth Capital’s Fourth Annual We’ve Got Your Back event.

Western Wealth Capital is one of the largest multifamily property owners in Arizona and over the past four years, this event has distributed more than $100,000 in supplies to families in need.

The event was held at Sierra Pines Apartments.More information can be found by following #WWCGotYourBack



Lennar Homes is First Builder to Move Valencia Crossing Forward in SE Tucson  

TUCSON, Arizona – Lennar Homes closed on 162-platted lots at Valencia Crossing Lots 3 & 4, at the northeast corner of I-10 and Valencia Road for $1.82 million ($11,235 per lot). Valencia Crossing is a planned area development approved in June 2012 that encompasses areas of vacant land to the east and west of the Valencia Road interchange at I-10.

Lennar Homes is the first developer moving forward to develop the area. Located in the Tucson southeast submarket, Lennar’s 162-lots are bordered by Julian Wash to the east and I-10 to the west, just inside Tucson City limits.

The development plans include a recreational area which would have amenities including a children’s play area featuring a soft floor surface and playground with shade awning, basketball court, ramada, barbeque and picnic tables.  The community would also feature several pocket parks, along with a multi-use path that connects the community to The Chuck Huckelberry Loop path network, / more than 120 miles of paved pathways and bike lanes already completed with an additional 11 miles planned or currently under construction.

The development will be accessed by a new spine road named Valencia Crossing Drive, which originally was intended to connect to Drexel Rd, but will now end in a cul-de-sac for the time being.

Lennar Homes will be developing and constructing on the 45’ and 50’ platted lots.

Valencia Crossing is a 195-acre commercial/industrial/multi-family site adjacent to a 166-acre FSP Solar facility first developed by Diamond Ventures. It is likely to eventually include a grocery store and other retail, storage units, RV parking, recreation and power sub-stations are also other possible uses for the area.  All of the lots are on the market.

Derrick Sinclair of Terramar Properties in Tucson represents the seller, Desert Parcel 510 Associates, LLC (Bob Morken, Jr. manager) and Lennar was self-represented.

For more information, Sinclair should be reached at 520.577.7800.

To learn more, see RED Comp #6938.