PHOENIX, ARIZONA – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $45,000,000 / $296,053 Per Unit / $413.60 Per SF sale of The Parker Apartments, a 152-unit multifamily apartment community located at 5150 West Eugie Avenue, Glendale, AZ 85304.  ABI Multifamily’s Alon Shnitzer, and Rue Bax. ABI Multifamily’s Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick facilitated the transaction.

The buyer is Clear Capital LLC, based out of California.

The Parker Apartments is a 152-unit garden-style apartment community located in Glendale, AZ. Residents enjoy direct access to all areas of the Phoenix Valley by way of the nearby Black Canyon Freeway (Interstate 17), the Agua Fria Freeway (Loop 101), and Grand Avenue (Highway 60). In addition, there are numerous dining and entertainment options within close proximity to the property including the Westgate Sports and Entertainment Districts, which encompasses the Gila River Arena, the State Farm Stadium, and the 225-acre Westgate City Center mixed-use development. With over 8 million square feet of office, high-end condominiums, hotels, entertainment, restaurants, and shopping. These aspects make The Parker a highly desirable community for its residents.

Built in 1984, The Parker Apartments features 152 units housed in 9 two-story buildings resting on a 5.07-acre site. The rental buildings are constructed of wood frame and stucco construction with flat roofs. The unit mix consists of 96 one-bedroom / one-bathroom units and 56 two-bedroom / two-bathroom units. The apartments feature individual electric meters, individual hot water heaters, and individual roof mounted HVAC’s. Interior amenities include air conditioning / heating, ceiling fans, large closets, vertical blinds, patio / balcony, high-speed internet access, and kitchens equipped with a dishwasher, garbage disposal, range / oven, refrigerator, and microwave. The community also provides its residents with a fitness center, pool & spa, covered / open parking, Amazon Hub Package Locker, & large rental office.

Significant employers in proximity to the property include the Medical Technology Corridor (encompassing the Banner Thunderbird Medical Center, Abrazo Arrowhead Hospital, St. Joseph’s Westgate Medical Center), major manufacturers such as Honeywell Aerospace and Conair, retail centers such as Arrowhead Towne Center and Westgate Sports and Entertainment District, and educational institutions including the Arizona State University West Campus, Arizona Christian University, and the Glendale Community College network.

ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.

PIMA COUNTY, ARIZONA — Las Artes Arts & Education Center is accepting applications for its new session that begins Monday, May 16.

Las Artes, a GED program within Pima County’s Department of Community & Workforce Development, helps youths ages 17 to 22 earn money while they prepare for the GED exam and learn valuable job-readiness skills.

The program combines structured classroom study with community art projects where attention to detail is emphasized. Murals created by Las Artes students can be found in neighborhoods, libraries and public buildings throughout Pima County.

A recent Las Artes project was the Jazelle Armenta Memorial (shown above), which was unveiled last fall at Winston Reynolds-Manzanita Park.

Potential students don’t need any artistic skills to apply. Las Artes provides students with workforce services to help them explore possible careers.

Classes are held in person for 30 hours a week and students must attend daily at 23 W. 27th St. in South Tucson. Las Artes pays students a weekly stipend to offset the cost of transportation, clothing and school supplies. Students also may be eligible for bonuses based on attendance and academic achievements.

“Las Artes is special and unique because we provide a place for education and training for students who have not been successful in traditional schools,” said Patricia Gastelum, the school’s manager.

“Through education, mentoring and case management, students who graduate from Las Artes meet all requirements for a GED. They will also have a career plan and enough skills to either obtain employment or continue their education to become productive members of the community.”

Prospective students must take a placement assessment. The program runs 16 to 32 weeks, depending on each student’s academic level.

“Youths should consider attending Las Artes if they are looking for personalized assistance through smaller class sizes,” Gastelum said. “Also, because we are an ‘earn to learn’ program, weekly stipends are available.

“We also offer an array of resources to better prepare students for the workforce. We can assist with post-secondary education; vocational and technical training; and job-search assistance.”

Las Artes has been operating since 1992 and has graduated approximately 1,050 students.

For more information, call 520-724-5050 or go to pima.gov/lasartes

TUCSON, ARIZONA —  An affiliate of Rhino Realty of Nevada, LLC purchased 99,858 square feet of industrial space at Eastside Research Commerce Center, 1800 S. Research Loop in Tucson, from Java Property Investments, LLC for $9,357,692 ($94 PSF).

Bult in 2008, the property sits on 5.59 acres. The asset closed on April 25, 2022.

Ron Zimmerman, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the seller, Tucson-based, Java Properties, in the transaction. Zimmerman had also leased the property to two tenants over a 3-year period. Tenants in 100% leased building include Grace Pacifica Machining and Anewco Products.

Grant Traub with Colliers International AZ of Phoenix brought the buyer, Rhino Realty of Nevada, to the transaction.

For more information, Zimmerman should be reached at 520.546.2755. Traub can be contacted at 602.222.5000.

To learn more, see RED Comp #9816.