PHOENIX, Arizona – DAUM Commercial Real Estate Services has completed the sale of a fully leased industrial asset comprising four buildings totaling 110,679-square-feet in the Deer Valley submarket of Phoenix, Arizona.

DAUM Executive Vice Presidents Chris Rogers and Trevor McKendry represented the seller, California-based private investment firm Greenwood & McKenzie, as well as procured the buyer, Mountain West, the industrial platform of Baron Properties, alongside Will Strong of Cushman & Wakefield.

“We’ve worked closely with the seller for several years, playing an instrumental role in helping to build a strategic investment portfolio of industrial properties in Deer Valley,” explains Rogers. “Based on the strength of the current industrial market and influx of institutional capital into the sector, we advised the firm to consider selling now, after seven years of ownership.”

Rogers notes that the DAUM team recognized an opportunity to collaborate with Strong, of Cushman & Wakefield’s National Capital Markets Group, in order to strategically source the best possible buyer and secure a strong purchase price.

McKendry adds: “We have deep experience in the submarket and comprehensive knowledge of current activity, including new tenants and developments underway like the TSMC plant, a $20 billion project that will bring a significant number of new jobs to the area. Based on this, we were well positioned to understand and communicate the true value of this asset.”

With a week of listing the buildings, the team received several offers from entities based throughout the country, including California, Colorado, New York, and Illinois, McKendry notes.

“We ultimately sold to a Los Angeles-based buyer who recognized the exceptional outlook for Deer Valley, at a price that exceeded the seller’s initial expectations,” continues Rogers

The buildings, which are fully leased to 38 tenants total, are located at 23021, 23025, 23005, and 23015 North 15th Avenue in Phoenix, Arizona. They feature 20’ clear height, two shared truck wells, and 10’ by 12’ grade-level doors.

Tucson, Arizona – Larsen Baker announced that On The Rocks, LLC has leased 4,555-square-feet at the Speedway Pantano Square Complex located at 7930 E. Speedway Blvd, Ste 170, Tucson, Arizona, 85710. On The Rocks will use the space for their operations including a full-service sit-down restaurant/sports bar specializing in American bar fare. They will be opening early 2022.  Isaac Figueroa and Elaina Elliott represented the Landlord, Larsen Baker.

Blush & Bloom Med Spa leased 1,005-square-feet at The Plaza at Williams Centre, 5350 E Broadway Blvd. Suite 138, Tucson, AZ 85711. Blush & Bloom is a Medical Spa founded by Betsy Erickson, RN. Offerings from Blush & Bloom include medical spa treatments such as chemical peels, LED light therapy, micro needling, PRP injections, PDO threads, Kybella, dermal fillers and more. They will open for business Summer 2022.  Isaac Figueroa represented the Landlord, Larsen Baker, and handled this transaction.

Roadrunner Auto Glass, Inc. leased 1,000-square-feet at Camino Seco Business Park located at 140 S Camino Seco, Suite 416, Tucson, AZ 85710. Roadrunner Autoglass offers services for all auto glass types from cars to RV’s and other specialty vehicles. Services include tinting, repair, installation and more. They will open for business in January 2022.  Isaac Figueroa and Elaina Elliott represented the Landlord, Larsen Baker.

Submit sales and leases to [email protected]

GILBERT, AZ –Nick Miner, CCIM of ORION Investment Real Estate, reports selling a 4,200-square-foot retail building on the southeast corner of McQueen Road and Elliot Road in Gilbert for $1,400,000 or $333 per square foot. Miner represented the Buyer in the transaction, 51 S McQueen, LLC, who Miner has been working with since late 2018.

Located in the master planned development of Oasis at the Islands, the property benefits from a high income trade area and several new developments in the immediate area such as the expansion of Northrup Grumman and Gilbert Spectrum Industrial Park.

The tenant, Tacos Tijuana, has 6 locations in the valley with plans of additional expansion.

Nick Miner, CCIM, Senior Vice President at ORION commented, “This property was never officially on the market. The seller had just decided to sell the property when I was talking to Bobby and he told me about it.” Miner continued, “My client had been looking a long time for a good property with a good tenant in a good location. This property checked all the boxes for him.”

Seller, CR Turnbull Investments, was represented by Bobby Raines at Americor.