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CREReport | Phoenix for October 7, 2014

CREReport | Phoenix

Commercial Real Estate Report for October 7, 2014

Cavan Commercial Plans 100K SF Industrial Property Near Phoenix-Mesa Gateway Airport

Cavan Commercial’s Dale Cavan leased 7.5 acres of land near Phoenix-Mesa Gateway Airport (SE/SEC Power Rd & Loop 202 in Mesa) from Phoenix-Mesa Gateway.

Cavan plans to build a 100,000 square-foot industrial facility at the location.

The story first appeared on Sept. 19, “Cavan Leases 8 Acres Near Phoenix-Mesa Gateway; Plans to Build a 120K SF Industrial Property” - some details are different.

PLJ Pinchot Holdings Acquires 54-Unit Pinchot Green Apartments in Central Phoenix for $3.6M

PLJ Pinchot Holdings LLC purchased Pinchot Green Apartments, a 54-unit multifamily property at NW/NWC 24th St & Thomas Rd in Central Phoenix, from San Francisco Group LLC for $3.6M.

City to City CRE’s Michael Finch represented the buyer, PLJ Pinchot Holdings LLC.

JW Sterns’ Dan Dulin represented the seller, San Francisco Group LLC.

A and M Manufacturing Acquires 15K SF Industrial Property in North Phoenix for $1.77M

A and M Manufacturing purchased a 15,410 square-foot industrial property at SEC 15th Ave & Pinnacle Peak Rd in North Phoenix from Boat Family Limited Partnership for $1.77M.

DAUM Commercial Real Estate Services’ Skip Corley Jr represented the buyer, A and M Manufacturing.

Daum Commercial Real Estate Services’ Bob Lundstedt and Chris Rogers represented the seller, Boat Family Limited Partnership.

FFG Development Acquires First Credit Union North Site in North Scottsdale for $1.5M

FFG Development LLC purchased the First Credit Union North location at SEC Hayden Rd & Northsight Blvd in North Scottsdale from First Credit Union for $1.5M.

Phoenix Commercial Advisors’ Torrey Briegel represented the buyer, FFG Development LLC.

Sperry Van Ness’ Erin Schrauth, Peter McQuaid and Greg Vanlerberghe represented the seller, First Credit Union.

This deal correlates with the Sept. 4 announcement, “Plans Submitted for 3.8K SF Scottsdale Restaurant

Sperry Van Ness Transaction Report (October 2014)

Sperry Van Ness Advisors published their transaction report. Highlights:

• Scottsdale - Sale of First Credit Union North, $1.45M

• Phoenix - Sale of 5,968 SF retail property for $445K

• Gilbert - Lease of 6,000 SF office property (tenant: New Direction Fertility)

• Tempe - Lease of 19,603 SF office property (tenant: Miner Southwest)

Many more...

MODE Commercial Real Estate Announces Merger

MODE Commercial Real Estate Management Services announced a company merger with Middlefork Commercial.

NKGF Add Brokers: Joe Doucett, Tim Gunnink, Kathleen Morgan, Trisha Talbot, Jerry Jacobs and Michael Crystal

Headlining the press release, Joe Doucett and Tim Gunnink join Newmark Grubb Knight Frank’s Phoenix office. Mr. Doucett and Mr. Gunnink were formerly at GDC/RE.

Further into the press release, other brokers joining NGKF: Kathleen Morgan, Trisha Talbot, Jerry Jacobs and Michael Crystal.

Scottsdale Reschedules General Plan Amendment Cases

Originally scheduled for Wed, Oct. 8, the City of Scottsdale has rescheduled this year’s major General Plan amendment cases to Wed, Oct. 22, 2014.

Cases include: • Pinnacle Peak Patio; • El Regalo; • Cavalliere Flat; • Greasewood Flat. Announces Scheduled Sale of Senior Participation Interest in Two Loans for East Valley Apartments

“( has been retained as the exclusive loan sale advisor for the senior participation interest, including servicing rights, for two 2007 vintage notes collateralized by two class A multifamily properties in Gilbert, Arizona.”

Indicative Bids due no later than Oct 23, 2014.

Final Auction scheduled for Nov 6, 2014.

Subject properties:

• 3004 S Market St, Gilbert AZ

• 3314 S Market St, Gilbert AZ

A Google Search identifies the address, 3004 S Market St, as Borrego at Spectrum (Mark Taylor Property).