Leased/Sold

Thumb_1555_main Sold!
Parties: Mark Donahue
Location: 1555 Main Street, Brockton, MA, 02301
Comments:
Date: May 03, 2017
Transaction Amount: $2,800,000
Thumb_bell_villas 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
Thumb_parc_17 Sold!
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
Thumb_full Sold!
Parties: Cindy Miller
Tami Rexrode
Location: 106 W High Street, Terrell, TX, 75160
Comments:
Date: Nov 06, 2017
Transaction Amount: $86,000
Leased!
Location: 343 County Line, Rockwall, TX, 75032
Comments:
Date: Jun 24, 2017
Transaction Amount: $800
Thumb_exterior_pic Leased!
Location: 480 S River Road, Des Plaines, IL
Comments:
Date: Nov 07, 2017
Transaction Amount: $0
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_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

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