Phoenix, Arizona – CBRE announced the $21.45 million sale of a retail portfolio comprising four metro Phoenix retail assets totaling 29,001 square feet and three fully improved developable retail pads in Phoenix’s West Valley. An unnamed private family trust acquired the portfolio from TradeCor LLC.

CBRE’s Glenn Smigiel, Bob Young, Steve Brabant, Rick Abraham, Bill Bones and Chris Ryan represented TradeCor LLC in the transaction. Bruce Francis, Bob Ybarra, Dana Summers, Shaun Moothart and Doug Birrell of CBRE Debt & Structured Finance secured an $11.1 million loan on behalf of the borrower.

The portfolio features fully-leased retail assets in diversified locations across metro Phoenix and a roster of high-quality national tenants. The portfolio includes a 8,252-square-foot, two-tenant retail pad at the northwest corner of Power Road and the U.S. 60 in Mesa, Arizona that is 100 percent leased to Verizon Wireless and Eyeglass World; a 12,500-square-foot, four-tenant retail pad at the southeast corner of Bell Road and Litchfield Park in Surprise, Arizona that is 100 percent leased to Verizon Wireless, FedEx, Chipotle and Pacific Dental; a 6,249-square-foot P.F. Chang’s ground lease located at the southeast corner of McDowell Road and Bullard Ave. in Goodyear, Arizona; and a 2,000-square-foot Valvoline ground lease near the northwest corner of McDowell Road and Pebble Creek Parkway in Goodyear, Arizona.

Additionally, the portfolio includes three fully improved developable retail pads located at the southeast corner of Bullard Ave. and McDowell Road in Goodyear, Arizona. The land parcels are located in the heart of the West Valley’s new transportation and employment corridors, which is spurring residential, retail and commercial development, according to CBRE Research. Goodyear’s annual population growth is anticipated to be 69 percent greater than metro Phoenix.

Gilbert Warner will meet the needs for current and future residents of the community

Gilbert, AZ –  Remington Nevada, a premier commercial land development company in the Southwest, recently broke ground on their latest retail development project, Gilbert Warner, a shopping center located at the intersection of Gilbert and Warner Roads.

The 11-acre, 95,000-square-foot shopping center will complement the surrounding community with an urban layout that will connect tenants and shoppers to the nearby Gilbert Civic Center, Banner Gateway Hospital and Alliance’s Broadstone Gilbert Heritage project.

“Gilbert is one of the fastest growing cities in the country, so it was a natural fit for our team to invest in this area. Gilbert Warner shopping center is going to provide much-needed amenities to meet the demand of the nearby residents and commuters,” said David DelZotto, Remington Nevada Founder and Chief Executive Officer.

Gilbert Warner shopping center will be anchored by a 30,000-square-foot, two-story Planet Fitness. Additional tenants include Black Rock Coffee, Luxe Nails, Pacific Dental and BMO Harris Bank, which will ultimately help meet the demands of current and future residents of several nearby luxury apartments and high-end residential communities that are in development.

Remington Nevada currently has close to 1 million square feet of retail projects taking shape throughout Southern Nevada as well as the metropolitan areas of Phoenix, including SanTan Pavilions, The Villages at Troon North and Gilbert Warner.

Gilbert Warner is located at 915 S. Gilbert Road in Gilbert, Arizona. Phase one of construction is expected to be completed by mid-2020. For leasing and sale information, please contact Jason Hersker and/or Stephen Herman at Capital Asset Management.

TUCSON, ARIZONA – Leman Academy of Excellence has acquired a new site at 6180-6190 E Pima Street in Tucson for a new campus.  The 4.5 acres were split off and sold by the International Church of the Foursquare Gospel Church from a current 8-acre parcel. The Church will remain on the remaining adjacent property.

The site sold with several buildings, a 16,000-square-foot gymnasium and two buildings under 3,000-square-feet each, that were being used by the church. These will be incorporated into the new 30-classroom building for Leman Academy and its K-6 campus.

The property commanded a sale price of $2.2 million ($100 PSF). This will be eighth campus for the charter school, expected to be open for August 2020.

Leman Academy of Excellence is an independently operated, tuition-free public charter school with open-admission policies. The foundational principles for the educational philosophy of Leman Academy of Excellence has been formed and established by Dr. Kevin Leman, the founder of the school, who had often dreamed of launching a school and learning environment for young people that willingly engages and embraces parents in the educational process, highlighting the parent-teacher-scholar relationship to bring out the best in each and every child. There is no entrance exam for admission to Leman Academy.

Pat Welchert of Alpha Commercial Real Estate represented the buyer in the transaction and Chuck Corriere of Keller Williams of Southern Arizona represented the seller.

For more information, Welchert should be contacted at 520.360.9394 and Corriere can be reached at 520.400.9811.

To learn more, see RED Comp #6990.