Leased/Sold

Thumb_2802_e._osborn_rd Sold!
Parties: Todd Braun
Location: 2802 E. Osborn Rd., Phoenix, AZ, 85016
Comments: Lee & Associates Arizona announced today that the Braun Apartment Group arranged the $21.3 million sale of Biltmore Pointe in Phoenix to Portland’s Bean Investment Real Estate (BIRE). The 302-unit property is located at 2802 E. Osborn Rd. The Braun Apartment Group represented the seller, Biltmore Pointe Apartments, LLC., of Los Angeles. “This acquisition offered the buyer an excellent value-add opportunity due to the property’s strong location,” said Todd Braun, principal. “[BIRE] intends to inject significant capital into the multi-family community with interior and exterior upgrades. I expect this to be a very different property in 12 to 18 months.” Biltmore Pointe was built in 1959, was added to in 1972, and sits on 10.5-acres. The development features a mix of studios, and one and two bedrooms. The units are situated in 28 rental buildings and average 800-square-feet.  Biltmore Pointe was approximately 65 percent leased at the time of sale. The Braun Apartment Group is comprised of Todd Braun, principal; Bryson Fricke, associate; and Ryan Boyle, multi-family property specialist.
Date: Nov 02, 2017
Transaction Amount: $21,250,000
Thumb_35_commerce_rd_opt Sold!
Dave Ellis
Location: 35 Commerce Road, Hignham, MA
Comments:
Date: Apr 19, 2017
Transaction Amount: $930,402
Thumb_aerial_for_flyer Sold!
Location: 3627 Foothills Way, Fort Mill, SC, 29708
Comments:
Date: Oct 24, 2017
Transaction Amount: $0
Thumb_2210_s_roosevelt Sold!
Parties: Kurt Saulnier
Location: 2210 S. Roosevelt St., Tempe, AZ, 85282
Comments: Lee & Associates Arizona announced today that Principal Kurt Saulnier represented DP Electric, an electrical contracting firm, in the $3.4 million purchase of an office building at 2210 S. Roosevelt St. in Tempe, Ariz. The 34,370-square-foot building will serve as the firm’s new corporate headquarters. Eric Jones of Commercial Properties Incorporated represented the seller, Robert Coleman Trust.  “Finding a property that offers a fenced yard and efficient parking is a challenge in the Tempe market, but this building allowed for both and was the ideal size for DP Electric’s growth plans,” said Saulnier. “The centrally located building offers quick access to Valley freeways with numerous retail amenities close by, making it an ideal choice for the company.” According to Dan Puente, president of DP Electric, the office will be renovated to house the company’s entire office staff under one roof. The new state-of-the-art office will include an open concept floor plan with offices flanking work stations, and many areas for conferences and collaboration. An employee gym, locker rooms, and a café and event space that can open to the outdoors with an adjacent large patio for entertaining will also be included. DP Electric has been at its current Tempe location since 2005, and will begin operating out of the new corporate headquarters by summer 2018.
Date: Oct 29, 2017
Transaction Amount: $3,200,000
Thumb_096p7524_4cr Sold!
Location: 8912 Spanish Ridge Avenue, Las Vegas, NV, 89148
Comments:
Date: Sep 08, 2017
Transaction Amount: $17,600,000
Thumb_building Leased!
Parties:
Location: 225 Park Street, Hackensack, NJ, 07601
Comments:
Date: Sep 01, 2017
Transaction Amount: $0
Thumb_east-oklahoma-county-land-for-sale Sold!
Location: NE corner of E Memorial Rd and N Hiwassee Rd, Jones, OK, 73049
Comments:
Date: Aug 07, 2017
Transaction Amount: $92,000
Thumb_full Sold!
Location: N.W. Corner of E. Memorial Rd. & N. Hiwassee Rd., Oklahoma City, OK, 73049
Comments:
Date: Aug 07, 2017
Transaction Amount: $400,000
Thumb_6620-e-reno-ave-restaurant-for-sale Sold!
Location: 6620 E Reno Ave, Midwest City, OK, 73110
Comments:
Date: Aug 08, 2017
Transaction Amount: $380,000
Thumb_1720_w_parkside_lane_-_front Sold!
Location: 1720 W. Parkside Lane, Phoenix, AZ, 85027
Comments: Guenther Properties, LLC., a Phoenix-based investment firm, recently purchased the industrial building that Paul Johnson Drywall calls home. The 18,640-square-foot property, located at 1720 W. Parkside Lane in Phoenix, was purchased for $2.6 million in a 1031 exchange.  In the exchange, Guenther Properties’ sold an industrial building in Scottsdale Airpark to AC Land Holdings for $2.53 million. The 12,956-square foot space is located at 15470 N. Greenway Hayden Loop in Scottsdale. Andy Cracchiolo of Cracchiolo & Associates represented himself as the buyer. Principal Mark Linsalata of Lee & Associates represented Guenther Properties in both transactions.Paul Johnson Drywall leased back 10,500 square feet of the Parkside Lane property from Guenther Properties for 24 months. The remaining 8,140-square-foot space remains available for lease. Section 1031 Exchanges, or like-kind exchanges, are used in commercial real estate to allow investors to reinvest their profits into a new property through an exchange of a similarly valued property and defer capital gains taxes from the sale.
Date: Oct 18, 2017
Transaction Amount: $2,600,000
Thumb_original Sold!
Location: 8914 Mears Street, Fairfax, VA, 22031
Comments:
Date: Aug 25, 2017
Transaction Amount: $0
Sold!
Location: 16531 River Ridge Blvd, Woodbridge, VA, 22191
Comments:
Date: Dec 31, 2016
Transaction Amount: $0
Thumb_state_seal_co. Sold!
Location: 7001 W. Erie St., Chandler, AZ, 85226
Comments: Phoenix-based LOC Leasing LLC., an entity owned by the principals of State Seal Corporation, has purchased an 86,000-square-foot industrial distribution building at Chandler Technology Center for $6.9 million. Ken McQueen of Lee & Associates represented the buyer. Mike Parker and Evan Kaplan of CBRE represented the seller, CTC Industrial, LP., an entity controlled by Kevin Pshebiniski of Hopewell Development. “State Seal currently occupies four separate facilities and this acquisition will allow them to operate more efficiently out of one property and minimize operational costs,” said McQueen. State seal will begin operating out of the building in December 2017. Located on 9.76-acres at 7001 W. Erie St. in Chandler, the property offers strong curb appeal, heavy power, 24-foot clear height, and grade and dock high loading. Functional attributes are complimented by abundant area amenities. Axus Technologies currently holds 23,000-square-feet at the property, further reducing the occupancy cost for the buyer.
Date: Oct 09, 2017
Transaction Amount: $6,900,000
Thumb_esplanadeii Sold!
Parties: Jim Watkins
Location: 2515 E Camelback Rd, Phoenix, AZ, 85016
Comments: Lee & Associates announced today that the brokerage firm coordinated the 3,900-square-foot renewal, relocation and expansion for lessee, Piper Jaffray, at Camelback Esplanade. The company previously leased 3,350-square-feet in the same building for 23 years. Lee & Associates’ Jim Watkins represented Piper Jaffray, a Minneapolis-based investment bank and asset management firm. Pat Boyle of CBRE represented the landlord, LBA Realty of California. It is a five-year lease. According to Watkins, Piper Jaffray needed larger premises to handle anticipated growth while at the same time remodeling their offices. For more information, visit www.leearizona.com.
Date: Oct 09, 2017
Transaction Amount: $0
Thumb_screen_shot_2017-10-06_at_10.10.07_am Sold!
Parties: Conner Lee
Location: 7822 S. 46th Street, Phoenix , AZ, 85044
Comments: On behalf of Los Angeles-based Cohen Asset Management, Cushman & Wakefield and Lee & Associates completed the sale of an 188,142-square-foot industrial building located at 7822 S. 46th Street in Phoenix. Bailard of Foster City, Calif. purchased the property for $16.1 million. Will Strong of Cushman & Wakefield, along with Rick Lee and Conner Lee of Lee & Associates, represented both parties in the deal. The state-of-the-art industrial/flex building, situated on approximately 8.5 acres, is 100% leased to BAE Systems. Located in the highly desirable Phoenix Sky Harbor Airport submarket, this is one of the most recognizable assets in the area due to its long-term credit tenancy, high-profile location, quality high-tech interior improvements and proximity to major freeways.
Date: Sep 25, 2017
Transaction Amount: $16,100,000
Thumb_2017-08-13_14.27.13 Leased!
Location: 625 E Cypress St, Suite E, Kennett Square, PA, 19348
Comments: 3 year initial term with 3% annual escalator. Andy Crawford served as a Dual Agent, representing both the Lessor & the Lessee in the transaction. Initial rent is $2503/Month + NNN/CAM. Space consists of 3,000sf and will continue to be utilized as a bakery.
Date: Sep 01, 2017
Transaction Amount: $92,831
Thumb_dsc_0957 Leased!
Joanne West
Location: 200 Old Forge Ln, Ste 202, Kennett Square, PA, 19348
Comments: 2 year initial term with 2% escalator. Joanne West of Lieberman Early represented the Gobel Group (Tenant) in the transaction and Andy Crawford represented Beiler-Campbell Center, Inc. (Landlord) in the transaction. Suite 202 consists of approximately 3350sf professional office space.
Date: Aug 29, 2017
Transaction Amount: $125,190
Thumb_dsc_0374web Leased!
Joan Goloskov
Location: 400 Old Forge Ln Suite 408, Kennett Square, PA, 19348
Comments: 5 year initial term lease with 2% escalation clause. Leased at $18.50/sf + NNN/CAM. Greeley Orthodontics, PA (Tenant) was represented by Joan Goloskov of Long & Foster. Andy Crawford represented the Landlord, Beiler-Campbell Center, Inc. in the transaction. The space consisting of 2,457sf will be fit out to Dr. Greeley's specifications as per the agreement with Beiler-Campbell Center, Inc. We welcome Greeley Orthodontics, PA to the Beiler-Campbell Business Center and wish her much success!
Date: Sep 15, 2017
Transaction Amount: $236,548
Thumb_hub317 Sold!
Location: 317 S. 48th Street, Phoenix, AZ, 85034
Comments: Ken McQueen and Chris McClurg negotiated the $10.3 million purchase transaction of a 117,885-square-foot industrial property situated on 12.17-acres in the heart of the Phoenix Sky Harbor International submarket. Industrial specialists McQueen and McClurg represented the buyer, HUB 317, LLC., a joint venture partnership between Colorado-based DPC Companies and Confluent Development, Denver, in the transaction. This is their first industrial acquisition in the Phoenix metropolitan market, although they have several office and retail holdings in Phoenix. The seller was Road Machinery, LLC.DPC & Confluent will be expanding the property with 109,000squarefeetof dock high warehouse space, totaling 227,491squarefeet. Property features include a full diamond interchange, proximity to the light rail and Sky Harbor International Airport, 24-foot and 32-foot clear heights, and 290 parking stalls and freeway monument signage. The project’s estimated completion is June 2018.
Date: Sep 17, 2017
Transaction Amount: $10,300,000
Sold!
Location: Phoenix, AZ
Comments: The Koss | Louer team of Lee & Associates Arizona arranged the sale of a 95,836-square-foot industrial portfolio. Luke Marley, LLC., a California-based partnership owning retail product in California, purchased the portfolio from Delcor, LLC. for $12.45 million. Principals Stein Koss and Tom Louer represented both the seller and the buyer in the transaction. The portfolio is fully leased for five years to Horizon Distributors, Inc., a wholly subsidy of POOLCORP. The portfolio is comprised of the following freestanding buildings: • 8746 W. Kelton Lane, Peoria -8,750 SF on 1.25 acres • 15517 N. 77th St., Scottsdale -8,750 SF on 1.26 acres • 4055 W. Saturn Way, Chandler -5,300 SF on .86 acres • 201 W. Juanita, Mesa -9,924 SF on 1.97 acres • 5214 S. 30th St., Phoenix -42,138 SF on 5.10 acres • 41802 N. Vision Way, Anthem -10,009 SF on 1.31 acres • 4740 N. La Cholla Blvd., Tucson -10,965 SF on 1.2 acres
Date: Sep 14, 2017
Transaction Amount: $12,450,000

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