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CBRE Brokers Sale of 15.5K SF Weinick Bros. Marketplace in Phoenix for $930K

A joint venture formed by James Kuykendall and Pat Cantelme purchased Welnick Bros. Marketplace, a 15,521 square-foot retail property located at SEC 4th Ave & Van Buren St in Phoenix Central Business District, from Joyce Reiff for $930,000.

CBRE’s Christoper Ackel and Pat Horan represented both the buyers, James Kuykendall and Pat Cantelme, and selleer, Joyce Reiff, in the transaction.

Editor’s Note: Some of the data presented was collected from Loopnet - which also indicated the asking price for the property was $1.3M.

Propak Logistics Leases 48.7K SF of Industrial Space in Phoenix

Propak Logistics, Inc. leased 48,735 square feet of industrial space at Estrella Business Park located at E/NEC 67th Ave & Buckeye Rd in Phoenix from EJM Development. The property is now 100% occupied.

CBRE’s Pat Feeney, Dan Calihan, Rusty Kennedy and Bob Pielsticker represented the tenant, Propak Logistics, Inc.

Also noted: EJM Development currently owns 5.5M square feet of industrial buildings in Metro Phoenix.

Cave Creek Shoppers Mall LLP Acquires 8.7K SF Retail Center in Cave Creek for $1.9M

Cave Creek Shoppers Mall LLP purchased Shops at Dynamite & Tatum, a 8,726 square-foot retail center located at NEC Tatum Blvd & Dynamite Blvd in Cave Creek, from Bainbridge Island for $1.9M.

Cardon Commercial’s Nathan Cardon represented the buyer, Cave Creek Shoppers Mall LLP.

CBRE’s Steve Julius and Jesse Goldsmith represented the seller, Bainbridge Island.

Regent Properties Acquires 293K SF Office-Retail Property in North Phoenix for $58.6M

Regent Properties purchased Desert Ridge Corporate Center, a 293,161 square-foot office-retail property located at NEC Tatum Blvd & Loop 101 (Pima Fwy) in North Phoenix from Ohio Public Employees Retirement System for $58.6M. The property was 75-percent leased at the time of sale.

CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Ken White and Paul Jones brokered the transaction.


TriWest Healthcare Alliance Leases 55.6K SF at Marconi Research Park in Phoenix

TriWest Healthcare Alliance leased 55,550 square-feet of office space in the Marconi Research Park located at S/SWC I-17 & Bell Rd in North Phoenix from Newport Beach.

CBRE’s Ashley Brooks, Jim Bayless and Jenny Aust represented the landlord, Newport Beach.

Editor’s Note: The total amount of space leased appears to be a blend of renewing existing space plus adding new.

Progressive Leasing Inks 20K SF Office Lease at Talavi Corporate Center in Glendale

Progressive Leasing, a financial services vendor for retailers and merchants, leased 20,000 square feet of office space at Talavi Corporate Center, SE/SEC 59th Ave & Bell Rd in Glendale, from ROF II Talavi, LLC.

Ashley Brooks, Jim Bayless and Jenny Aust with CBRE’s Phoenix office negotiated the lease between the landlord, Los Angeles, Calif.-based ROF II Talavi, LLC and the tenant.

Old School Property Acquires 9.3K SF Old School 07 in Phoenix for $6.1M

Old School Property LLC purchased Old School 07, a 9,293 square-foot retail property located at NWC 7th St & Osborn Rd in Phoenix from 07, LLC, for $6.1M.

TauroREIS’ Steven Stein represented the buyer, Old School Property LLC.

CBRE’s Joe Compagno represented the seller, 07, LLC.

Clear Sky Uptown II Acquires 18-Unit Plantation Arms in Phoenix for $870K

Clear Sky Uptown II, LLC purchased Plantation Arms, an 18-unit multifamily property located at W/SWC 7th St & Camelback Rd in Phoenix, from Tralke, LLC for $870,000.

CBRE’s Brian Smuckler and Jeff Seaman represented both the buyer, Clear Sky Uptown II, LLC, and seller, Tralke, LLC, in the transaction.

Renovations Scheduled for The Esplanade in Central Phoenix

Renovations are scheduled to commence on The Esplanade at SEC 24th St & Camelback Rd in Central Phoenix.

Property owner, MetLife, secured CBRE to manage the property and oversee renovations. Gensler has been selected as the project’s architect and design firm. Work is scheduled to begin first quarter of 2015.


Helix Acquires 10K SF Building at Sonoran Corporate Center in North Scottsdale for $1.57M

Helix Capital purchased Sonoran Corporate Center Building 6, a 10,154 square-foot* office property located at NE/NEC 82nd St & Bell Rd in North Scottsdale from A Company of Brothers LLP for $1.57M.

CBRE’s Mitchell Stravitz represented the buyer, Helix Capital.

* The way the article is worded, Building 6 was not specifically identified as being 10,154 SF. But it appears that it was intended to be.

20-Unit Fiesta Arms Apartments in Central Phoenix Sell for $740K

Elain and Maher Meida purchased Fiesta Arms, a 20-unit multifamily property at S/SEC Central Ave & Dunlap Ave in Central Phoenix from FSFA 89 LLC for $740,000.

CBRE’s Brian Smuckler and Jeff Seaman represented the seller, FSFA 89 LLC.

Bell Steel Acquires 46K SF Industrial Property in Chandler for $4.5M

Bell Steel Inc. purchased a 46,100 square-foot industrial property at NE/NEC Arizona Ave & Ray Rd on Hamilton St from TW Steel for $4.5M.

Jones Lang LaSalle’s Steve Larsen represented the buyer, Bell Steel Inc.

CBRE’s Evan Koplan and Mike Parker represented the seller, TW Steel.

Casa Mirage Properties Acquries 20K SF Retail Center in El Mirage for $3M

Casa Mirage Properties LLC purchased Rancho El Mirage Plaza, a +/-20,130 square-foot retail center at N/NEC Dysart Rd & Thunderbird Rd in El Mirage, from El Mirage Partners LLC for $3.07M.

Sperry Van Ness’ Trent McCullough and Shari Tucker represented the buyer, Casa Mirage Properties LLC.

CBRE’s Andrew Fosberg, Cam Stanton and Milly Busch represented the seller, El Mirage Partners LLC.

Grand Corona One LLC Acquires Ground Lease in Mesa for $608K

Riverside, formed by Grand Corona One LLC, purchased a free-standing Pizza Hut ground lease at E/SEC Dobson Rd & Main St in Mesa from Mesa Partners LLC for $608,000.

Real Estate Foundation Inc’s Alan Fruitman represented the buyer, Riverside.

CBRE’s Andrew Fosberg and Molly Busch represented the seller, Mesa Partners LLC.

DriveTime Leases 96K SF Office Space in Liberty Center at Rio Salado in Tempe

DriveTime Automotive Group Inc. leased 96,000 square-feet of office space in Liberty Center at Rio Salado located north of 52nd St & University Dr in Tempe from Liberty Property Trust.

Lee & Associates’ Fred Darche represented the tenant, DriveTime Automotive Group Inc.

CBRE’s Brad Anderson and Michael Strittmatter represented the landlord, Liberty Property Trust.

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