PHOENIX, Arizona — CBRE has arranged the sales of two Phoenix apartment communities to Calfornia buyers.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the buyer and the seller in the transactions.

NDX Investments II, LLC, sold 34 Arcadia, a newly renovated 45-unit contemporary boutique apartment community in Phoenix’s lower Arcadia neighborhood, to Champion 34 Arcadia, LLC, for $5.86 million. The buyer was a first-time Phoenix multifamily investor from California. Alex Walton with CBRE Capital Markets Debt & Structured Finance arranged the debt on behalf of the borrower. The property features studio and one-bedroom floor plans averaging 527 square feet. Interior upgrades include in-suite laundry, stainless steel appliances, and upgraded countertops and bathrooms. Located at 2936 N. 34th Place, the property is nearby to Biltmore Fashion Park and Camelback Corridor, one of the metro’s main employment corridors.

California-based Goldstein Investment Co. acquired Idle Hours, a 28-unit apartment community in Phoenix, from Delaware-based Torino Holdings, LLC for $5.8 million in an all-cash transaction. The buyer was completing a 1031 exchange. Located at 1501 E. Rovey Ave., the mid-century modern community is located in the North Central Corridor in Uptown Phoenix. The property was remodeled and repositioned in 2018 and features 800-square-foot two-bedroom, one-bath floor plans. Interior upgrades include in-suite laundry, stainless steel appliances, quartz countertops and upgraded bathrooms. Idle Hours provides residents with excellent access to various lifestyle amenities and several central employment corridors, including Camelback Corridor, Old Town Scottsdale, Downtown Phoenix and Tempe.

Buyer Plans Chandler Corporate Center II – 87,000 SF Development

Phoenix, Arizona – DPMG Galveston LLC, a private Phoenix-based company, completed the $2,050,000 purchase of 6.5 acres in Chandler. Located at the southwest corner of Galveston Street and McClintock Drive, the parcel was purchased from Truwest Credit Union. DPMG will develop its third investment in Chandler on the site, an 87,000-square-foot mixed-use industrial project.

“This long-term client is very keen on Greater Phoenix, and especially the Chandler submarket with its excellent job growth, extensive amenities and convenient location,” says Greg Hopley, executive vice president at Colliers International in Arizona.  “DPMG is planning to develop a high quality commercial project that will accommodate a unique single user or variety of tenants that are interested in joining great companies already located within this business community.”

Chandler Corporate Center is a business area that features facilities occupied by Garmin, Davita RX, Creative Leather, MTD and AllState.

Greg Hopley and Dillon Hopley of Colliers International marketed the property and negotiated the transaction.

This commercial land totaling 6.5 AC or 263,550+/- SF sold at approximately $2,050,000 or $7.75 PSF. The buyer favored the West Chandler location and close access to the 101 and 202 freeways. DPMG’s previous two developments in Chandler are located just across the street from this site. The buyer will hold the investment long term and was attracted to the lack of product in the area and volume of interested tenants.

DPMG plans to construct Chandler Corporate Industrial Center II during the next 12-18 months with completion expected in mid- to late-2021.  The contemporary design of the project offers flexibility for office and/or industrial use.  Greg Hopley and Dillon Hopley serve as exclusive leasing agents for the new project.

PHOENIX, ARIZ. – When the Town of Gilbert Development Services Department points to an example of a light industrial building that meets and exceeds its design standards, it looks no further than the Hawkins Design Group’s office/warehouse, which was designed by award-winning firm Cawley Architects.

Hawkins Design Group is a professional electrical engineering firm that also specializes in photovoltaic (PV) solar energy systems. The $3 million, 12,275 SF building is a mixed-use project with business office operations (6,000 SF) as the primary occupancy along with a large warehouse area (6,275 SF).

“This project consists of corporate offices for one of the Valley’s most successful family-owned electrical engineering firms. It’s a point of pride that a consulting engineering firm could build its own building that is an ongoing company resource as well as an example of its professional accomplishments,” said Cawley A unique steel-framed canopy over the main entry glass wall defines the entrance to the building. This feature is replicated over the office windows to enhance the façade of the building. Similarly, steel beams continue around the side of the building to cover the large outdoor patio making it an ideal place for group gatherings during any season.

As an energy-efficient feature, and to display their solar business, they installed photo-voltaic solar panels on The main interior focus of the project is the open space office area, where project managers work in a collaborative office environment highlighted by outstanding light fixtures.  The office area is supported by an impressive conference room and a flexible break room area that opens onto a large, expansive covered patio. Unique contemporary lighting schemes are featured in each private office to illustrate the variety of possible fixtures and effects that a customer may choose to showcase in their business.

Cawley Architects worked closely with Dave Hawkins and his executive team to incorporate favorite decorative themes into the project. These include an enormous tank of saltwater fish, photos of fishing expeditions, and other marine-themed mementos.

Additionally, the lobby, conference room, open office area and break room floors have been painted a stunning deep blue color reflecting Hawkins’ love of the ocean and its bounty.  Subtle blue and white accent lighting can be observed throughout the interior as well.

“We began looking at pre-owned buildings nearly 3 years ago when we realized we needed a larger workspace for our team,” Hawkins said. “After touring many existing buildings and realizing that none of them ‘fit the bill’, we approached Cawley Architects to begin to investigate the potential of designing a ground-up.

“The incredible team at Cawley Architects not only accepted the task, but created a space far beyond anything we could have imagined. By taking simple ideas that our management team had about how we wanted the space to feel, Cawley was able to design our building as a showroom for our clients while taking into account the needs and desires of our entire workforce, creating a ‘home away from home’ for our team to enjoy,” Hawkins added.

Other features of the project, 1140 W. Harwell Road in Gilbert, include a secured yard and a large warehouse area for Hawkins’ vehicles and storage of supplies.

The general contractor for the project was Kennedy Design Build.