$7M sale of land zoned for multifamily in Central Phoenix highlights recent deals negotiated by NAI Horizon professionals

PHOENIX, ARIZONA – The $7 million sale of the largest multifamily-zoned land holding in Central Phoenix highlighted recent deals negotiated by NAI Horizon professionals. NAI Horizon Vice President Kim Kristoff represented Sidney M. Rosen as trustee on behalf of a lifetime grouping of partners and trust beneficiaries.

Sale Transactions:

Kim Kristoff negotiated the sale of a 7.01-acre parcel of land, representing the seller, Sidney M. Rosen, Trustee, for $7 million. The property is located at the NEC of 12th Street and Devonshire Ave., Phoenix, AZ. Brian Gausden with Western Retail Advisors represented the buyer, DECO Acquisitions, LLC.

Matt Harper negotiated the sale of a 2,789 SF retail property, representing the buyer, The Chahoud Family Trust, for $375,000. The property is located at 2829 E. University Dr., Mesa, AZ. Brad Broyles with AZ Real Estate Options represented the seller, CAB Holding, LLC.

Tom Bean, CCIM, negotiated the sale of 1,239 SF office property, representing the buyer, Iscandar, LLC, for $272,580. The property is located at 1095 W. Rio Salado Parkway, Tempe, AZ. David Bean with Commercial Properties, Inc. represented the seller, James J. Lemon as PR for estate of Julie Lemon.

Lease Transactions:

Tyler Smith represented the tenant, Magnus Title Agency, LLC, in a 76-month office lease for 5,150 SF at 2425 S. Stearman Dr., Chandler, AZ. Todd Noel with Colliers International represented the landlord, Stearman, LLC.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Luxe Nail Bar, in a 7-year retail lease for 1,360 SF in Scottsdale Quarter, located at 15147 N. Scottsdale Rd., Scottsdale, AZ. Carol Schillne with CBRE represented the landlord.

Tyler Smith represented both the landlord, HF1-D Phoenix 1706, LLC, and the tenant, SSCW Corporate Office, LLC, in a 63-month lease for 6,448 SF at 1830 N. 95th Ave., Phoenix, AZ.

Tyler Smith represented both the landlord, Pacifica Palm Valley Center, L.P., and the tenant, U. S. Army Corps of Engineers, in a 60-month lease for 2,738 SF at 1626 N. Litchfield Rd., Goodyear, AZ.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, Glendale Center, LLC, in a 120-month land lease for 990 SF at 5080 W. Olive Avenue, Glendale, AZ. Tim Hurlery with JLL represented the tenant, USAA Federal Savings Bank.

Tyler Smith represented the tenant, Millenium Title Agency, LLC, in a 76-month office lease for 1,191 SF at 2425 S. Stearman Dr., Chandler, AZ. Todd Noel with Colliers International represented the landlord, Stearman, LLC.

Stan Matzinger and Tom Bean, CCIM, represented the landlord, 10240 Bell Road Associates, LLC, in a 48-month office lease for 2,806 SF at 10240 W. Bell Rd., Sun City, AZ.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Squeezed Arizona, LLC, in a 60-month retail lease for 1,600 SF at 14891 N. Northsight Blvd., Scottsdale, AZ. Michael Achtman with ORION Investment Real Estate represented the landlord, Northsight Scottsdale Crossing, LLC.

Isy Sonabend represented the landlord, Grimco, Inc., in a 35-month industrial lease for 5,016 SF at 23910 N. 19th Avenue, Phoenix, AZ. Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the tenant, Total Tractor, LLC.

Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon represented the landlord, New Bell Tower, LLC, in a 60-month retail lease for 1,080 SF at 4915 W. Bell Rd., Phoenix, AZ.

Matt Harper represented the landlord, Yee Legacy II, LLC, in a 60-month retail lease for 1,152 SF at 18914 E. San Tan Blvd., Queen Creek, AZ.

Matt Harper represented the landlord, Elmo Tari Trust, in a 60-month retail lease for 1,335 SF at 12235 N. Cave Creek Rd., Phoenix, AZ.

 




NAI Horizon negotiates sale of 2-property California self-storage portfolio

PHOENIX, ARIZONA – The NAI Horizon Self-Storage Team of Senior Vice President Denise Nunez and Associate David Loui represented the seller in negotiating the sale of a two-property self-storage portfolio in California.

L.P.G. Associates, Inc. of Rohnert Park, California, sold Folsom Parkshore Self-Storage in Folsom, California, and All Size Self-Storage in Roseville, California, to Extra Space Properties Two LLC of Salt Lake City, Utah. The two assets total 165,920 NRSF and comprise 1,109 units.

“These two assets were highly sought after Class A properties drawing the attention of 42 well-qualified buyers,” Nunez said. “Both assets were part of L.P.G.’s larger self-storage portfolio which was sold separately. Continental Ranch Self Storage (in Tucson, Arizona), also owned by L.P.G. Associates, sold to an unrelated buyer on August 8, 2018. The overall portfolio sale was $31.55 million.”

Located at 185 Parkshore Dr., the Folsom facility serves Alder Creek, Nimbus, Orangevale, and Gold River, California. Located at 1011 Foothills Blvd., All Size serves residents of Roseville, Citrus Heights, Antelope, and Foothill Farms, California.

 




Tucson Lease Report August 6-10, 2018

Tucson Lease Report Aug. 6-10, 2018

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Aug. 6 thru 10, 2018.

INDUSTRIAL – 3133 S. DODGE BLVD., TUCSON
Bay Insulation of Arizona leased 8,600 square feet of industrial space from Dodge Properties, LLC. The property is located at 3133 South Dodge Boulevard. The landlord was represented by Gary Emerson of GRE Partners, LLC and the tenant was represented by Tim Healy Jr. of CBRE’s Tucson Office and Bill Bayless of CBRE’s Phoenix Office. [mepr-show rules=”58038″]Tenant Phone: 480.966.2266[/mepr-show]

RETAIL AT THE CROSSING AT SAHUARITA
Starbucks recently finalized a lease of 2,400-square-feet at The Crossing at Sahuarita. The Sprouts anchored project is located at the southeast corner of Nogales Highway and Abrego Drive in Sahuarita, Arizona.  The center is leased by Brian Gast and Dave Cheatham of Velocity Retail Group, with Brenna Lacey of The Volk Company in Tucson as co-listing agents.  Greg Furrier with Cushman & Wakefield / PICOR represented the tenant in the transaction.  The landlord ownership group is a partnership between Wadsworth Development Group and Accelerated Development Services.

RETAIL – SHOPPES AT CONTINENTAL RANCH, MARANA
Brian Gast and Bonnie Arlia of Velocity Retail recently negotiated a lease for a 2,200-square-foot Go Wireless – Verizon store in the Shoppes at Continental Ranch in Marana, Arizona.  The Safeway anchored center is located at the southeast corner of Twin Peaks and Silverbell Roads.  The store will be located in a newly constructed building along Silverbell at the entrance to the shopping center.  Craig Finfrock of Commercial Retail Advisors in Tucson represented the Landlord in the transaction.  This is the 6th new location the team has completed for this tenant in the last year.

RETAIL – 9040 E. VALENCIA RD., TUCSON
Solee Enterprises, a chicken wing concept restaurant, leased 1,750 square feet at Rita Ranch Shopping Center located at 9040 E. Valencia Road, Tucson, AZ.  Dave Dutson with NAI Horizon represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $22.00 SF/YR NNN[/mepr-show]

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