Phoenix, Arizona – Vestis Group, a commercial brokerage and investment firm, is pleased to announce the sale of Hinton Place Plaza, an 8,865-square-foot neighborhood shopping center, located at 2814 N 16th Street and 1539 E Edgemont Avenue, in Phoenix, Arizona for $375,000 ($42 PSF).

“The buyer is really looking forward to revitalizing this unique retail shopping center located in Midtown Phoenix, along the 16th Street Corridor, next to Barrio Cafe and the up-and-coming Coronado neighborhood,” says Matt Morrell, President of Retail Investments at Vestis Group and the lead broker for this transaction, “The redevelopment plan includes a full remodel of the existing neighborhood shopping center, while protecting the urban art murals and keeping the spirit of the original mid-century modern architecture. Vestis Group will facilitate all leasing for the new ownership on the retail investment property.”

The Phoenix based Vestis Group commercial brokerage team of Matt Morrell, Natan Jacobs and Chad Barber negotiated the off-market retail transaction on behalf of the buyer, MODE Retail of Phoenix in the sale. The seller, The Marda Phillips Living Trust Trust of Honolulu, Hawaii, did not utilize third party representation.

Hinton Place Plaza, aka Coronado 16, is a single-story, neighborhood shopping center located in Midtown Phoenix. Built in 1957, Coronado 16 is scheduled to be artfully restored by MODE, a Valley real estate developer specializing in revitalizing properties in the mature neighborhoods of Central Phoenix. Coronado 16 will soon combine mid-century modern charm and urban art with a great mix of local and national retailers and restaurants. Coronado 16 is located in Phoenix’s downtown-midtown-uptown urban core, near seven major hospitals including: Phoenix Children’s Hospital, Abrazo Arizona Heart Institute, Abrazo Arizona Heart Hospital, Banner – University Medical Center Phoenix, Barrow Neurological Institute, Carl T. Hayden VA Medical Center, Phoenix Indian Medical Center and St. Joseph’s Hospital and Medical Center. The property is situated in a commercial area adjacent to the Coronado Historic District, west of the SR-51 Piestewa Freeway, just south of the southwest corner of 16th Street and Thomas Road in Central Phoenix.

For more information on leasing, Morrell, Jacobs and Barber should be reached at 602.281.6202.

Phoenix, Arizona – Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of MODE @ 22nd Street Apartments, an 11-unit apartment community located at 4120 North 22nd Street, in the Biltmore-area of East Phoenix for $1.98 million or $180,000 per unit.

“The Buyer contacted us initially looking for help acquiring value-add multifamily investment opportunities in the Phoenix market,” says Matt Morrell, Investment Advisor at Vestis Group and the lead broker for this transaction, “Eventually, the buyer asked if we would consider selling any of our MODE properties ‘off-market’ and a deal was struck on 22nd Street. MODE Apartment Living will continue to manage the Biltmore-area apartment community for the new ownership moving forward.”

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, MODE Apartments+Homes from Phoenix, Arizona and the buyer, a private investor from Phoenix, Arizona.

MODE @ 22nd Street, aka 22nd Street Apartments, is a modern, one and two story, multifamily community, located in the Biltmore-area of Phoenix, near Phoenix Children’s Hospital, Arizona Heart Hospital, and shops and popular eateries such as Bink’s Midtown, Mejico Cocina Mejicana, Coup Des Tartes, Whole Foods, Trader Joe’s, Grassroots Kitchen & Tap, Pizzeria Bianco, Snooze, Sage Kitchen and The Parlor. The property is located in Phoenix’s Biltmore Area, east of the SR-51 Piestewa Freeway, west of 24th Street, just north of Indian School Road, along 21st Street, allowing easy access to The Shops at Town & Country, Biltmore Fashion Park, the Camelback Corridor and the Grand Canal, which many people utilize for recreation, including running and biking. The property is located less than a half mile from State Route 51 (Piestewa Freeway) which connects to Interstate 10 (Maricopa Freeway), Loop 202 (Red Mountain Freeway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Tempe, Scottsdale, the southeast and southwest Valleys.

MODE @ 22nd Street offers style and convenience while raising the bar for urban apartment living in central Phoenix. Developed in 1986, the subject property was fully renovated in 2016, using high-end finishes and updating with modern contemporary design. The unit mix is comprised of ten (10) 2-bedroom / 2-bathroom units of approximately 952 square feet and one (1) 3-bedroom / 2-bathroom single family home of approximately 1,713 square feet.

Interior finishes include en-suite laundry, new stainless-steel appliance package equipped with an electric stove, dishwasher, refrigerator, stainless steel range hood, stainless steel sink, granite countertops, stained concrete floors, upgraded lighting and plumbing fixtures, modern bathroom tiling and modern fixtures, ceiling fans, oversized windows, upgraded doors and large closets.

Community amenities consist of a swimming pool and pet-friendly accommodations. The apartments all have designated covered parking, attached storage, ans private patios or balconies. The subject property also has great access to the Valley freeway system, the Biltmore, Camelback Corridor and Downtown Phoenix.

PHOENIX, Arizona — Vestis Group, a multifamily brokerage and investment firm, is pleased to announce the sale of MODE @ 27th Street South Apartments, a 12-unit apartment community located at 4207 North 27th Street, in the Biltmore-area of East Phoenix for $1.9 million or $158,333 per unit.

“The Buyer approached us through their broker after the sales of MODE @ 38th Street for $2.5 million and Trinity 38 Apartments for $2.6 million and asked if we would consider selling any other MODE properties off-market as they were looking for an upleg property to complete a 1031 exchange,” says Natan Jacobs, Principal at Vestis Group and the lead broker for this transaction, “They ultimately offered on MODE @ 27th Street South because they liked the courtyard feel of the property and its proximity to the Camelback Corridor, Biltmore and Arcadia neighborhood restaurants and entertainment.”

The Phoenix based Vestis Group multifamily brokerage team of Natan Jacobs, Chad Barber and Matt Morrell negotiated the transaction on behalf of the seller, MODE Apartments+Homes from Phoenix, Arizona. The buyer, a private investor from Santa Rosa, California, was represented by Victoria Miachika of Arizona Investment & Management, LLC in Scottsdale, Arizona.

MODE @ 27th Street South is a midcentury modern, single story, courtyard-style multifamily community, located in the Biltmore-area of Phoenix, near Phoenix Children’s Hospital, Arizona Heart Hospital, and shops and popular eateries such as Binkley’s, Mejico Cocina Mejicana, Coup Des Tartes, Whole Foods, Trader Joe’s, Grassroots Kitchen & Tap, Pizzeria Bianco, Snooze, Sage Kitchen and The Parlor. The property is located in Phoenix’s Biltmore Area, east of the SR-51 Piestewa Freeway, west of 28th Street, just north of Indian School Road, along 27th Street, allowing easy access to The Shops at Town & Country, Biltmore Fashion Park, the Camelback Corridor, the Valley freeway system and numerous employers. Nearby freeway access to State Route 51 (Piestewa Freeway) which connects to Interstate 10 (Maricopa Freeway), Loop 202 (Red Mountain Freeway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Tempe, Scottsdale, the southeast and southwest Valleys.

Built in 1959, MODE @ 27th Street South was fully remodeled and repositioned in 2016. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, granite countertops with porcelain tile backsplash, stained concrete floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features a manicured courtyard, pet friendly accommodations, keyed entry pedestrian gates and covered parking. All units have private patios.

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.