Leased/Sold
Sold!
Parties: Andy Ogan
Location: 6877 W. Frye Road, Chandler, AZ, 85226
Comments: Rich Uncles NNN REIT Inc. of Costa Mesa, Calif. expanded into the Phoenix market through a $26.5 million ($162.86 per foot) purchase of AvAir’s headquarters. The 162,714-square-foot creative office/warehouse space is located at 6877 and 6971 West Frye Road in Chandler.
Principal Andy Ogan of Lee & Associates Arizona brokered the sale. The seller, Reasons Aviation LLC, was assisted by John Hink of Tiffany & Bosco P.A.
The high-tech, state-of-the-art, two-building complex is currently occupied as headquarters for AvAir Inc., a commercial aircraft parts business. The sale agreement allows AvAir to occupy the space for 15 years. Developed in 2015, the two buildings sit on 6.17 acres in the Santan Technology Park at the northeast corner of Loop 202 and 56th Street.
“AvAir’s headquarters created an ideal opportunity for Rich Uncles to break into the Valley market by acquiring a new cutting-edge, creative office/warehouse development with a global aviation tenant,” said Ogan. “This transaction will provide long-term, durable cash flows in a market poised for sustained growth and capital appreciation.”
For more information, visit www.leearizona.com or contact Andy Ogan at (602) 474-9565 or aogan@leearizona.com.
Date: Jan 15, 0018
Transaction Amount: $26,500,000
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Sold!
Parties: Natalie V. Wagner
Marty Indvik
Location: 3030 Skyway Dr., Santa Maria, CA, 93455
Comments:
Date: Dec 07, 2016
Transaction Amount: $0
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Sold!
Parties:
Location: 201 Countryside Court, Southlake, TX, 76092
Comments: Property SOLD to an owner/user.
Date: Dec 01, 2017
Transaction Amount: $0
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Leased!
Parties: Simeon Spirrison, CCIM, George Spirrison, CCIM
Location: 2815 83rd Street, Darien, IL, 60561
Comments:
Date: Sep 30, 2017
Transaction Amount: $0
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Sold!
Parties: Simeon Spirrison, CCIM, George Spirrison, CCIM
Location: 123 Confidential, IL
Comments:
Date: Jan 03, 2018
Transaction Amount: $0
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Sold!
Parties: Chauncey Baldwin
Location: 1880 18 Mile Rd. NE, Cedar Springs, MI, 49319
Comments: Property sold to an existing adult foster care operator.
Date: Nov 30, 2017
Transaction Amount: $200,000
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Sold!
Parties: Kevin Vandenboss
Location: 1020 Eastbury Drive, Lansing, MI, 48917
Comments: Purchased by an existing adult foster care operator.
Date: Dec 01, 2017
Transaction Amount: $1,190,000
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Leased!
Parties: Zachary Schunn
Location: 1969 Eight Mile Rd, Cincinnati, OH, 45255
Comments:
Date: Oct 02, 2017
Transaction Amount: $0
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Sold!
Parties:
Location: 622 Verona Street, Kissimmee, FL, 34741
Comments:
Date: Dec 01, 2017
Transaction Amount: $191,616
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Sold!
Parties: Barbara J. Bialon
Location: 9105 W. 151st. St., Orland Park, IL, 60462
Comments:
Date: Jan 31, 2017
Transaction Amount: $650,000
Cap Rate: 12.00%
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Sold!
Parties: Mark Linsalata
Location: 16648 N. 94th St., Scottsdale, AZ, 85260
Comments: Lee & Associates Arizona has sold a 143,892-square-foot office and warehouse space for $16.3 million to GreatHearts Academies, as they plan to expand their North Scottsdale Campus.
Principals Mark Linsalata, Bill Blake and Colton Trauter represented the owners in the sale to GreatHearts Academies, which was represented by Todd Noel of Colliers International. Located at 16648 North 94th Street, the project consists of a 43,500-square-foot office building and a separate 100,000-square-foot warehouse and distribution facility.
The property, which is situated on 16-acres, was named NAIOP Arizona’s Building of the Year in 2004. It offers easy access to the Loop 101 and Bell Road Interchange, and has over 400 parking stalls. It features private balconies, open plenum ceilings, second floor skylights, three phase power, and the warehouse provides ten dock high truckwells, 30’ clear height and two grade level loading.
GreatHearts Academies plans to open the new Archway Scottsdale Campus for the 2018-19 school year, and will serve students in kindergarten to fifth grade. For more information, visit www.leearizona.com or contact Linsalata at (602) 912-3539, Blake at (602) 954-3761 or Trauter at (602) 474-9503.
Date: Nov 28, 2017
Transaction Amount: $16,300,000
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Sold!
Parties: Patrick Dempsey, Jan Fincham
Location: 13801 N. Tatum Blvd. , Phoenix, AZ, 85032
Comments: Lee & Associates Arizona's Fincham Dempsey Team arranged the sale of the 54,430-square-foot Pueblo Point Shopping Center for $11 million. Principals Jan Fincham and Patrick Dempsey, along with associate Andrew Lundahl, facilitated the transaction on behalf of the seller, Arneil Pueblo, LLC., and the buyer, Paradise Valley Ventures, LLC.
Located at 13801 North Tatum Boulevard, the 5.46-acre shopping center includes Smart & Final Extra Grocery store, Domino’s Pizza, The UPS store and an Ace Hardware store, which is not a part of the sale.
“Pueblo Point shopping center is attractive to investors because of its strategic location in North Phoenix, just north of the Paradise Valley Mall. The property sits in an infill location with significant barriers to entry for any new future retail development, ensuring the stability and long-term success of Pueblo Point Shopping Center,” said Fincham.
“Additionally, the property enjoys attractive demographics with over 220,000 residents within a 5 mile radius with significant annual house hold income of more than $92,000,” said Dempsey.
For more information, visit www.leearizona.com or contact Fincham at (602) 954-3754 or Dempsey at (602) 954-3772.
Date: Dec 01, 2017
Transaction Amount: $11,000,000
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Sold!
Parties: Mark Donahue
Location: 1000 MAIN ST , BRIDGEWATER, MA
Comments:
Date: Mar 23, 2017
Transaction Amount: $1,200,000
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Sold!
Parties: Mark Donahue
Location: 1555 Main Street, Brockton, MA, 02301
Comments:
Date: May 03, 2017
Transaction Amount: $2,800,000
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Sold!
Parties: Todd Braun
Location: Phoenix, AZ
Comments: Entities formed by investor Richard Trull of Anthem, Ariz. acquired 44-units in two Phoenix properties for $6.8 million. The sellers in the two transactions were companies formed by investors Brandon and Darrin Nunns of Phoenix. The Braun Apartment Group of Lee & Associates Arizona, made up of Todd Braun, Ryan Boyle and Bryson Fricke, represented both the buyer and the seller.
In the larger sale, Bell Villas 28 Apartments LLC, managed by Trull, paid $4.4 million for the 28-unit Bell Villas 28 apartments at 17402 N. 19th Avenue. The seller was Bell Villas 28 LLC in Phoenix, of which the Nunns are members.
In the other sale, Siesta 16 Apartments LLC, managed by Trull, paid $2.4 million for the16-unit Siesta 16 apartments at 2525 E. Siesta Lane. The seller was Siesta 16 LLC, of which the Nunns are members. The apartment, located near Union Hills Drive and Cave Creek Road, was developed by the seller in 2015.
Date: Nov 16, 2017
Transaction Amount: $6,800,000
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Sold!
Parties: Stein Koss, Thomas Louer
Location: 1800 S. 7th Ave., Phoenix, AZ, 85007
Comments: The Koss | Louer Team of Lee & Associates Arizona has successfully negotiated two leases resulting in an increased occupancy of Parc 17. The 177,770-square-foot industrial project went from 24 percent occupied to 75 percent occupied in just seven months after close of escrow.
In April 2017, Principals Stein Koss and Tom Louer sold Parc 17 to Colony NorthStar, Inc. (NYSE:CLNS), a leading global real estate and investment management firm, for $16 million. Colony projected that the property would be 60 percent leased after one year.
In September, Koss and Louer leased 52,845 square feet to Peterson Aluminum, and in early November, Polyloom leased 31,871 square feet. These leases put the team 15 percent above their target goal.
Date: May 01, 2017
Transaction Amount: $6,100,000
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Leased!
Parties: Simeon Spirrison, CCIM, George Spirrison, CCIM
Location: 480 S River Road, Des Plaines, IL
Comments:
Date: Nov 07, 2017
Transaction Amount: $0
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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
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Sold!
Parties: Betsy Donahue, David Esterkes
Dave Ellis
Location: 35 Commerce Road, Hignham, MA
Comments:
Date: Apr 19, 2017
Transaction Amount: $930,402
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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
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