Washington Developer Buys Goodyear Land for Multifamily Project

Estrella Commons Property Sells for $3.8+ Million

Phoenix, Arizona –  IDM Companies, a Vancouver, Washington-based real estate company, has purchased 14.72 acres near the southeast corner of Interstate 10 and Estrella Parkway in Goodyear.  The company paid $3,848,186 for the land and plans to develop 352 apartment units on the site called Acero Estrella Commons.

“This property provides a terrific, live-work-play environment for multifamily development,” says Ramey Peru with Colliers International in Greater Phoenix. “It is situated next to a Walmart Super Center and walking distance to Safeway, Walgreens and nearby restaurants.  Job growth in the area has been robust, which enables future residents to enjoy a complete lifestyle without long commutes.”

 

IDM Companies intends to break ground on its Acero Estrella Commons multifamily project in January 2019 with expected completion in mid-2020 . The Estrella Commons land features 700 feet of frontage along Estrella Parkway.  The property is located just one-third of a mile from a full diamond interchange of Interstate 10.  The neighborhood is home to a sizable Fulton Homes development of single-family dwellings, as well as a Christopher Todd community of single-family rental homes.

IDM Companies purchased the property from Evergreen Devco of Phoenix.  Peru, Chaz Smith and John Finnegan of Colliers International in Greater Phoenix represented Evergreen in the sale transaction.  Torrey Briegel of Phoenix Commercial Advisors represented IDM Companies.

IDM Companies was founded in 1993 and began developing in the Portland, OR area.  The company now operates throughout the Pacific Northwest and Southwest regions.

Evergreen Devco is a national, fully diversified real estate company specializing in retail, commercial and multifamily development, asset management, property management and leasing.  The company has completed more than 500 development projects in more than 175 municipalities throughout the United States.




Phoenix Lease Report Aug. 20-24, 2018

Phoenix Leases Aug. 20-24, 2018

The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from Aug. 20 thru 24, 2018.

RETAIL – 2970 E GERMANN RD., STE C-103, CHANDLER
Brian & Tom Woods of Colliers International represented Vestar, the landlord on a ten-year lease with Broken Yolk at Crossroads Towne Center at 2970 E. Germann Road, Suite C-103, Chandler, AZ, 85286 for 4,951-square-feet.  Greg Laing of Phoenix Commercial Advisors represented the Tenant.  Signed in August 2018.

RETAIL – 288 E GREENWAY PKWY., STE 101, PHOENIX
Brian Woods of Colliers International represented Nexus, the landlord on a ten-year lease with Grand Nails Lounge at Bell Towne Plaza at 288 E. Greenway Parkway, Suite 101, Phoenix, AZ, 85022 for 2,180-square-feet.  Matt Bustamante of Realty One Group represented the tenant.  Signed in August 2018.

RETAIL – 20022 N 67TH AVE., STE C-302, GLENDALE
Brian Woods of Colliers International represented the landlord, Sunbelt Investment Holdings, Inc., on a ten-year lease with Avalon Nail at Village at Arrowhead at 20022 N. 67th Avenue, Suite C-302, Glendale, AZ, 85308 for 1,220-square-feet.  Matt Bustamante of Realty One Group represented the tenant.  Signed in August 2018.

Submit sales and leases to REDailyNews@Outlook.com




Tucson Lease Report July 9-13, 2018

Tucson Lease Report July 9-13, 2018

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from July 9 thru 13, 2018.

SEASONAL SPACE LEASED FOR 3 HALLOWEEN SUPERSTORES
CBRE arranged the leases for three retail spaces totaling 53,764-square-feet to seasonal “pop-up” tenant Spirit Halloween Superstores. Nancy McClure with CBRE Tucson represented the landlords in all three transactions. Torrey Briegel with Phoenix Commercial Advisors represented the tenant.

Spirit Halloween Superstores has signed leases in the following locations:

  • A 21,535-square-foot space owned by K-GAM Broadway Wilmot LLC, at 6230 E. Broadway Blvd, #100, just east of Park Place Mall at the southwest corner of Broadway Boulevard and Wilmot Road.
  • An 18,382-square-foot space at Saguaro Shopping Center, 5975 E. Broadway Blvd. The landlord is KGAM Saguaro Properties, LLC.
  • A 13,845-square-foot space at 4625 N. Oracle Road, across the street from the Tucson Mall, owned by Daniel Beringhause Trust.

“As more large retail space comes available, we’re continuing to see landlords take advantage of leasing to seasonal pop-up tenants that will draw shoppers and that translates to a benefit to the other tenants in shopping centers, so it’s a win-win,” said CBRE’s McClure.

OFFICE – 6450 N SWAN DR., TUCSON
Elite Medical Experts leased a 3,792 square feet of office space from Swan/Skyline Plaza, LLC located at 6450 N. Swan Drive, at Top of Swan Offices. Jeff Casper of CBRE Tucson represented the landlord and Eric Danielson of DL Real Estate Services and Tom Hunt of Tango Commercial represented the tenant.

RETAIL – 3120 E FORT LOWELL RD., TUCSON
Doug and Mari Harding DBA (M.A.I.D) have leased approximately 1,160-square-feet in Winter Haven Square at 3120 E Ft Lowell. Juan C. Pantoja with Grimm Commercial represented the Tenant in this transaction. Greg Furrier with Cushman & Wakefield | Picor represented the Landlord.

RETAIL – 6979 E BROADWAY BLVD., STE 131, TUCSON
My Spoiled Pooch, Inc. leased 1,100-sqaure-feet at 6979 E. Broadway Blvd., Suite 131, from Maqsood and Sabina Enterprises, LLC, the landlord.  J.J. Brown & Associates, Inc. represented the Tenant and Robert J. Nolan of Oxford Realty Advisors represented the landlord in the transaction.

RETAIL – 2742 N CAMPBELL AVE., TUCSON
Martha R. Dabdoub DBA American Family Insurance has leased approximately 868-square-feet at Gee Plaza – 2742 N. Campbell Ave Tucson, AZ 85719. Juan Pantoja with Grimm Commercial, LLC represented tenant and Jesse Peron with CBRE represented landlord in this transaction.

Submit sales and leases to REDailyNews@outlook.com