PHOENIX, ARIZONA – NAI Horizon represented the seller in the disposition of two parcels of land and an industrial building, which the City of Maricopa, Arizona, plans to utilize as a facilities works yard.

NAI Horizon First Vice President Michael Gaida represented DRA LLC of Maricopa in the deal which fetched $2.4 million. The transaction includes an 18,000 SF building on 2.5 acres at 32240 W. Bud Road. It also includes an adjacent vacant 2.51 acres to the North for a total of 5.01 acres.

“Available industrial land with this many buildings in the Maricopa/Gila Bend market is nearly impossible to find,” Gaida said. “The City of Maricopa has been actively searching for a location like this for several years.

“The property comes with a lot of machining equipment and powder-coating spray booths and dryers. The city will be able to securely park, service, and repair its fleet of vehicles, light and heavy equipment, with ample storage for all future Pinal County expansion projects,” Gaida said.

The City of Maricopa will occupy the building, which formerly housed Alpha Tech Coatings. The property will ultimately save taxpayer dollars over time as Maricopa continues to expand.

The investment highlights include Ak-Chin airport access, on-site living quarters, a security system, and storage space. The building was constructed in 1996 and renovated in 2003.

SCOTTSDALE, ARIZONA – LevRose CRE/TCN Worldwide brokers enjoyed an active month in April, facilitating deals totaling $27.9 million and 182,692 SF.

The top transactions for April:

Partners Zak Kottler and Joe Cosgrove with Advisor Hunter Chasse, represented the seller in the office building sale of 13847 N. Northsight Blvd., in Scottsdale. The 16,000 SF building was sold by Bradley Investments, LLC, for $6 million and purchased by Salt Castle Trust.

Partners Danielle Davis and Trent McCullough and Advisor Branden Mondragon facilitated the sale of 4333 N. Scottsdale Road in Scottsdale. Representing the seller, Hudye Group LP the 16,482 SF redevelopment retail opportunity sold to Galleria Triangle, LLC for $4.9 million.

Partners Danielle Davis and Trent McCullough facilitated the sale of the retail plaza at 8880 E. Via Linda in Scottsdale, Arizona. LevRose represented both the buyer, Doxa to Theo 2, LLC. and the seller, Chaffee Family Trust. The 17,974 SF plaza sold for $3,85 million.

LevRose represented the seller, A & C Building Management, LLC, in the sale of the office building at 5621 W. Beverly Lane, in Glendale, Arizona. The deal was negotiated by Partner Michael Waxman and Senior Advisor Foster Bundy. The 8,100 SF property sold for $2.05 million.

Representing the buyer, Partner Aaron Norwood helped negotiate the sale of an office/retail building at 4045 E. McDowell Road in Phoenix. The 9,700 SF property, Castor Plaza, was sold to AES Property Development, LLC, for $1.2 million. The seller was Castor Plaza, LLC.

Partners Keri Davies and Jason Reddington of represented the landlord, JBJM Camelback, LLC, in the 10,928 SF lease of 3001 E. Camelback Road, #100, 140 and 150 in Phoenix. The new office tenant is BOKF, NA.

PHOTO: 8880 E Via Linda in Scottsdale, AZ

Marana, AZ – Flint Development (“Flint”) acquired two parcels totaling 129 acres from an affiliate of Crown West Land Group within the Crossroads at Gladden (“Crossroads”) development located at Tangerine Road and Interstate 10.  Flint Development is a commercial real estate development firm based in Kansas City, specializing in industrial, multi-family and senior living development throughout the country.  Flint has over 50 years of combined experience and a proven history in development projects making positive impacts in communities.  The acquisition encompasses Blocks 1 and 2 of Crossroads, bounded by Clark Farms Boulevard on the West and Interstate 10 to the East.  Flint plans to develop over 1,700,000 square feet of Class “A” industrial space, with the first two spec buildings totaling nearly 1,000,000 square feet kicking off construction immediately as part of its Southern Arizona Logistics development (link).

The Crossroads at Gladden is located to the north of the Tangerine Distribution Center that has another 1.36 million square feet of distribution space under development and the Tangerine Commerce Park specific plan. The developer paid an aggregate of $21.2 million ($164,286 per acre / $3.77 PSF) for the 129 acres. The transaction closed on May 12, 2022.

An affiliate of Crown West Land Group acquired Crossroads in 2021 as its adjacent Gladden Farms Master Planned Community neared sell-out to over six different national homebuilders, commercial and multifamily users, and the Marana Unified School District, Northwest Medical, and Northwest Fire District.  The complimentary mix of uses at Crossroads will bring substantial commercial and retail amenities to the Gladden Farms community and the Tangerine / I-10 intersection including employment opportunities.

Southern Arizona Logistics – Building Rendering

Photo Credit: Flint Development

Southern Arizona Logistics – First Two Buildings Site Plan

Photo Credit: Flint Development

The first two buildings will be an aggregate of 948,012 square feet with a planned delivery for 2023.

Tim Healy with CBRE Tucson represented the buyer, Flint Development, in the transaction.

Crossroads at Gladden: Remainder

The remaining 143 acres of Crossroads predominately fronts Tangerine Road and is planned for a mix of industrial, retail, and commercial uses expected to be developed in the next 24 months.

• Blocks 3 & 6: 104 acres for planned Industrial developments with over 1,500,000 square feet of warehouse and distribution uses.
• Block 4 & 5 (Corner of Clark Farms Blvd. & Tangerine): 12 acres for planned Retail, Commercial, and Lodging uses in a contiguous shopping center.
• Blocks 7 & 8 (Corner of Tangerine & I-10): 28 acres planned with a Fortune 10 retail user for a single ‘big-box’ store location of over 150,000 square feet offering both dry goods and grocery.

Note: Glossed sections reflect user ownership. Photo Source: Crossroads Master Developer

As described previously, the high-visibility corner of Tangerine Road & Clark Farms Boulevard is planned for a shopping center with over 50,000 square feet of retail, restaurant, and lodging uses across seven pad sites.  Crown West Land group is in discussion with several users for pad sites within Blocks 4 and 5.

Crossroads at Gladden – Future Retail Blocks 4 and 5

For information on this sale Healy can be reached at 520.323.5119; for information on the remaining Blocks 4, 5, 7 and 8 contact Nancy McClure of CBRE at 520.323.5117.

To learn more, see RED Comp #9861.