Phoenix, Ariz. – Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced that it has arranged a $3.725 million sale of the Fry’s Vineyard Shopping Center in Mesa, Arizona.  Fry’s Vineyard is a 78,109-square-foot Fry’s Food and Drug anchored shopping center located at 542 west Baseline Road Mesa, Arizona. The adjacent shop building and outparcel building totaling 17,451-square-feet were included in the sale.

The sale was a collaborative effort for the Lee and Associates Arizona office. Jan Fincham and Andrew Lundahl represented the seller, Barclay Holdings LXV. Sean Bishop represented the buyer, DL Baseline LLLP.

“The sale of the Fry’s Vineyard Shopping Center is an excellent example of the Lee and Associates network opening up opportunities for our clients” said Jan Fincham, Principal of the Lee & Associates Arizona office.

The property was 69% occupied at closing with the majority of the tenants are credit and national quality. The property is situated on approximately on 2.06 acres just west of the northwest corner of Country Club & Baseline Roads. The property sits along the borders of Mesa, Gilbert, and Chandler and benefits from proximity to the US-60. The Country Club & Baseline intersection boasts traffic counts of over 75,000 VPD.  The shopping center is home to tenants Fry’s Food and Drug (NAP), The UPS Store, Great Clips, Streets of New York and Subway.

“Fry’s Vineyard was attractive to many investors because of its strategic location in a densely populated area and it is adjacent to Fry’s Food and Drug, the number one sales volume grocer in Arizona” said Fincham. “The buyer was also attracted to the complementary mix of internet-resistant tenants providing grocery, service, retail, and fast casual dining.”

According to Fincham, the property is the beneficiary of a population of over 430,000 residents within a 5 mile radius which is one of the densest areas within the Greater Phoenix Metropolitan Area.

This sale represents another successful closing for the Retail Investment Sales Team at Lee & Associates led by Jan Fincham, amassing a total sales volume of over $525 million since the beginning of 2015 and nearly $40 million in the last 90 days alone. Fincham states that, “The market is particularly active right now, driven by the fact that yields produced by shopping center investments are significantly more attractive compared to what banks are paying investor’s for their deposits.”

For more information contact Jan Fincham at 602-954-3754, Sean Bishop at 602-954-3774 or Andrew Lundahl at 602-385-3799.

SCOTTSDALE, Arizona – Well-located on the southwest corner of Pima Road and Bronco Trail, the soon-to-be 16 residential lots sold for $2,850,000, or approximately $150,000/acre. The land parcel totaled 19-acres and sold subject to zoning and plat recordation. The property is located near the affluent communities of Troon North, Estancia, Grayhawk, and Pinnacle Peak Estates.

Larry Kush, Senior Vice President of ORION Investment Real Estate, exclusively represented the Seller, Medley LLC. Kush said, “It is getting harder all of the time to find quality parcels in this area of North Scottsdale; Camelot did a terrific job of processing the zoning through the city.”

The Buyers, Mark and Julie Hancock of Camelot Homes, were self-represented. A locally-owned, award winning home builder, Camelot Homes is one of Arizona’s most prestigious family-owned homebuilders. With 50+ years’ experience building thousands of homes in Arizona’s finest communities, Camelot Homes has established an unparalleled tradition of home building pride and excellence.

For more information, Larry Kush can be reached at 480.482.1944

Vestis Group negotiated a multi-year office lease for Kane, Temple, Myers, PLLC, a multi-state personal injury law firm, at The Doyle Building, located at 4331 N 12th St, Phoenix, AZ 85014

Phoenix, Arizona – Vestis Group, a commercial brokerage and investment firm, is pleased to announce the completed lease for Kane, Temple & Myers, PLLC, a multi-state personal injury law firm, at The Doyle Building, located at 4331 N 12th St, Phoenix, AZ 85014.
“Kane, Temple, & Myers, PLLC, a multi-state personal injury law firm specializing in car accidents, dog bites, and wrongful death, is proud to announce the opening of their Phoenix office,” says Jeff Temple, Partner at Kane, Temple & Myers, PLLC, “Now with offices in Phoenix and Las Vegas we are able to help more people who have been injured.”

The Phoenix based Vestis Group commercial brokerage team of Natan Jacobs and Matt Morrell worked in conjunction with Alicia Milton of Keller Williams Realty East Valley, who negotiated the transaction on behalf of the tenant, Kane, Temple & Myers, PLLC, and the landlord, 4331 North 12th Street LLC. Vestis Group provides tenant representation services to select national, regional and local tenants with their expansion plans throughout Arizona.

The Doyle Building, aka 4331 North 12th Street, is a 2,100 square feet, single-level, mid-century modern office building designed by award-winning architect Gerald A. Doyle, located in Phoenix’s downtown-midtown-uptown urban core, just minutes from the “Golden Corner” of 24th Street & Camelback, Camelback Corridor, Downtown Phoenix, Sky Harbor International Airport and numerous Valley hotspots, including: Postino WineCafe, Oregano’s, St. Francis, Windsor, Little Cleo’s at The Yard, Culinary Dropout at The Yard, Taco Guild and Starbucks at Old School 07.

The Doyle At Midtown is a mid-century modern single-story office building located in Midtown Phoenix, one half mile south of Camelback Road along 12th Street allowing easy access to Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. The property is adjacent to the Grand Canal, which many people utilize for recreation, including running and biking.

Built in 1973, The Doyle was remodeled in 2014 and updated again in 2019, by MODE, a Valley real estate developer specializing in revitalizing properties in the mature neighborhoods of Central Phoenix. The Doyle is a freestanding office building with a flat roof and combination frame/stucco and exposed steel beam construction. The unit mix is comprised of 3 separate but interconnected suites, including 2 suites of approximately 500 square feet and 1 suite of approximately 1,100 square feet. The property includes 10 surface parking spaces.

Vestis Group is the broker of choice for individuals and institutions investing in multifamily residential and commercial real estate throughout Metropolitan Phoenix. Our advisors assist clients in the acquisition and disposition of multifamily investment and retail investment assets, including, apartments, bulk condo packages, duplex/triplex/fourplex properties, single-family rental portfolios (SFR Portfolios), income producing single-family investment properties, neighborhood strip centers, retail power centers, retail strip centers, neighborhood grocery, retail PAD and retail shopping centers. In the field of housing, Vestis Group’s principals have developed, built, rehabilitated, constructed, improved, managed, and sold thousands of apartments units, condos, single-family homes and home sites.