Tucson, Arizona —  CBRE’s Nancy McClure, First Vice President, represented the seller, Pyramid Federal Credit Union in the sale of its former branch at 7740 E. Speedway Blvd to WB7740 Holdings, LLC, an affiliate of Whirlygig Properties.

The asset sale closed on July 22, 2022.

Built in 1993, the property consists of a 6,139 square-foot building with a double drive-thru on a 1.08 acre site.

Pyramid Credit Union has been open since 2010. It’s the 19th largest credit union in Arizona with assets totaling $233.93 million and providing banking services to more than 17,000 members as of June 2022.

The property was most-recently used as  a Pyramid Federal Credit Union branch and administrative offices but was vacated with the consolidation of the company’s move to its headquarter building location at 4911 East Broadway.

The buyer purchased the building for $800,000 ($130 PSF) and intends to renovate the building for lease to a tenant.  Buyer was represented by Lynn Taylor of Whirlygig Properties.

For mor information, McClure should be contacted at 520.323.5117 and Taylor can be reached at 520.546.9003.

To learn more, see RED Comp #10060.

After pandemic pause, Downtown headquarters opens with amenities for work and play

PHOENIX, ARIZONA — After an all-too-familiar pandemic delay, Phoenix-based property management leader Arcadia Management Group (AMG) has relocated and expanded its downtown Phoenix headquarters within the 3550 N. Central office tower. The new space welcomes employees back with amenities for work and play, including a unique attraction for a fourth-floor office tenant… a bowling alley.

“It took us longer than expected to debut our new headquarters, but we were happy that we’re here now,” said Arcadia Management Group President Gary Shaw. “We have exceptional employees who work exceptionally hard, and we have new employees joining the firm each month. This office allows us to accommodate for that growth, making it easier for employees to collaborate and giving them a fun environment in which to celebrate their accomplishments. And nothing says celebrate like a bowling alley!”

Since its founding in Phoenix in 1986, AMG has become a national entity managing more than 60 million square feet of U.S. office, industrial and retail space, and providing tenant and capital improvements through its in-house construction management division.

AMG previously occupied space on the fifth floor of the downtown office tower. Its new headquarters allows the company to relocate and expand within the same building, where it also serves as property manager.

Totaling 18,500 square feet, the new AMG headquarters features independent and collaborative workspaces, a white noise sound masking system, private phone rooms, maternity room, and training and conference space featuring a 20-foot door that opens to seamlessly connect with a full-service kitchen, dining and break area.

The new office also features a human–centric lighting system that mimics the progression of daylight. Starting with soft tones in the morning and gradually increasing in brightness and color temperature throughout the day, this system avoids the fatigue associated with static lighting systems found in “ordinary” offices.

As a nod to the ownership’s Arcadia roots, the new AMG headquarters reception and copy areas feature wood harvested from a tree that had been scheduled for removal within the Arcadia neighborhood.

“Our greatest feat, though, is the bowling alley,” said Mark Zimmerman, Arcadia Management Group’s National Director of Construction Management. “We used carefully selected materials and worked with acoustics specialists to ensure that this amenity had zero sound implications for the tenants above or below us. Being able to problem solve to make the bowling alley vision a reality was a high point for our construction team, and reflects the commitment we make to all of our Arcadia projects.”

Construction on the new AMG headquarters was directed by the company’s in-house construction management division. That same team was responsible for the 2020 transformation of a portion of unused roof and indoor office space at the tower, transforming these areas into a fifth-story outdoor patio and luxury indoor hospitality suite for building employees.

The 3550 building has space available for lease ranging from 2,000 to 12,225 square feet and offering stunning views. For more information, contact leasing brokers Scott Boardman and Dave Carder of Cushman & Wakefield, at 602.954.9000.

Country Club Village Mobile Home Community Closes for $44 million

PHOENIX, ARIZONA — Northmarq’s Manufactured Housing group announced the sale of Country Club Village, a 493-site manufactured housing community located at 2060 N. Center Street in Mesa, Arizona. The buyer was Havenpark Communities, LLC from Orem, Utah.

Northmarq’s Phoenix team of Jared Bosch, Don Vedeen and Chris Michl and the Los Angeles team of Jeff Bensen and Samuel Neumark brokered the sale of the 493 site community for $44 million ($89,249/site) on behalf of the seller, Country Club MHP, LLC from Anaheim, California. The property sold at a sub three capitalization rate.

Country Club Village offered a unique opportunity in the Phoenix metro market to acquire a value-add property at scale. The location in northwest Mesa will allow the buyer to capitalize on the current vacancy by immediately bringing in new home inventory. The community is also on a land lease, which brough another layer of complexity that our team worked with both the buyer and seller on to find a solution,” said Bosch.

Country Club Village was built in 1980 and is situated on 67.28-acres that are located south of Loop 202/Red Mountain Freeway and east of State Route 87/Country Club Drive, with easy access to downtown Mesa. The community includes two resort-style pools, recreation center, basketball court and picnic areas. Country Club Village was 73 percent occupied at the time of sale.

The city of Mesa is the third largest city in Arizona with a population of 520,000 residents. During the past 10 years, the Mesa population has expanded by nearly 80,000 residents, an annual growth rate of more than 1.5%.