California Investor Purchases Westwood Business Park for $7.4M

Commercial real estate services provider Cassidy Turley announced the $7.4 million ($80.88 per square foot) sale of Westwood Business Park, a Class B office development at 2222-2228 W. Northern Ave. in the northwest Phoenix submarket. California-based LBK Trust III purchased the property from Nebraska-based MJA Holdings, LLC. Cassidy Turley Executive Managing Director Eric Wichterman and Senior…


Isagenix International Coming to 250-Acre Rivulon Development

Columbus-based Nationwide Realty Investors announced today that it has signed a lease with Arizona based health and wellness leader Isagenix International, LLC to occupy a three-story single-tenant building at its master-planned Rivulon development in Gilbert, AZ. Also completed is a land swap agreement with LA Fitness, Nationwide Realty Investors President and Chief Operations Officer Brian…


Retail Investor Taps Cassidy Turley for 300,000 SF Walmart Power Center in Mesa

Commercial real estate services provider Cassidy Turley announced it has been engaged by Greenfield Gateway Retail Investments for the marketing and leasing assignment of Greenfield Gateway in Mesa. The assignment consists of a 300,000-square-foot shopping center anchored by Walmart Supercenter and Sportsman’s Warehouse. Cassidy Turley Vice President Brent Mallonee is now leasing the property. “We…


NAIOP to FAA: Retract Proposed Height Reductions of Commercial Buildings Near U.S. Airports, Including Sky Harbor

The Arizona Chapter of NAIOP has urged the Federal Aviation Administration to retract the proposed One Engine Inoperative Procedures in the Obstruction Evaluation Studies published in the Federal Register on April 28. “While  NAIOP-AZ fully supports the FAA’s role to oversee aviation safety, we oppose this proposed OEI policy, note that it does not address…


Colliers International Completes 11,800 SF Lease at Surprise Office Condo Project

Colliers International in Greater Phoenix recently completed an 11,800-square-foot office lease in Surprise for One Step Beyond, Inc., a Peoria-based day training organization for individuals with developmental disabilities. One Step Beyond is leasing space at The Offices at Reems, an office condo project. The tenant signed a 10.5 year-lease for two buildings located at 15527…


Colliers International Completes $2.3M Sale of Office Shell in Downtown Phoenix

Colliers International in Greater Phoenix has recently completed the sale of a Class C office shell in downtown Phoenix for $2.3 million, or $130 per square foot. Phoenix-based New City Church purchased the building, located at 1300 N. Central Ave., from Drapac Group of Los Angeles. The New City Church has experienced tremendous growth in…


Commercial Properties, Inc. Reports $1.1M Sale of a 10,196-square-foot Industrial Building In Chandler

Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, completed the $1.1 million sale of a 10,196-square-foot industrial service building located at 4041 W. Milky Way in Chandler. Leroy Breinholt of CPI’s of Tempe Office represented the owner in the transaction. The masonry building was built in 2006, has a fenced yard, and…


Cire Equity Acquires Pecan Promenade Retail Center in Tolleson

Cassidy Turley, a leading U.S. commercial real estate services provider, has been awarded the leasing assignment for Pecan Promenade, a 40-acre, 336,023-square-foot retail center on the northeast corner of 99th Avenue and Lower Buckeye Road by the property’s new owner, CIRE Equity of La Jolla. Cassidy Turley’s Brad Douglass and Chris Hollenbeck have the leasing…


NorthMarq Capital Closes $5.3M Acquisition Financing for Paradise Vista Apartments

NorthMarq Capital’s Denver based regional office secured the $5.3 million acquisition of Paradise Vista Apartments, a multifamily property containing 24, two-story buildings with 352 total units located at 7102 North 43rd Ave in Phoenix. The transaction was structured with an eight-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with…


Lee and Associates brokers 2 properties for $4.55M

1531 W. 17th St

Lee Associates brokered two Tempe properties recently for a total of $4.55 million.

59,375 SF Manufacturing Building Sells for $2.4M

A Tempe manufacturing building at 1531 W. 17th St. in Tempe, sold for $2.4 million.

The 59,275 square-foot facility fetched $40.42 per square foot.

Lee & Associates principals, Matt Hobaica and Matt McDougall represented the seller, JCS, LLC of Tempe. The facility was the former home of All Pro Industrial, LLC.

Paul Timm of Trust Realty Advisors represented the buyer, Lexkel, Inc. of Mesa, AZ.

The 1981-built building sits on 3 acres and features heavy power, a fenced yard, natural gas, A/C and evaporative production areas and four grade-level loading doors. It is located just east of the Interstate 10 and the Broadway Road curve and with convenience to Phoenix Sky Harbor International Airport.

For more information, contact Matt Hobaica, 602-954-3755,; or Matt McDougall, 602-474-9561,

18,730 SF Manufacturing Facility Trades for $2.15M
609 W. Knox

An 18,730 square-foot freestanding manufacturing facility at 609 W. Knox Road d. in Tempe, sold for $2.15 million or $114.79 per square  foot an 11-day escrow.

Lee & Associates Arizona Principals represented both sides of the transaction. Stein Koss and Tom Louer represented the buyer, Broadway-Genesis, LLC of Tustin, CA while Ken McQueen, Principal, represented the seller, Fleet Wing Holdings, LLC of Tempe. The building previously was headquarters for Spectrum Aerospace.

The transaction was a 1031 exchange for the buyer and represented an 8.15 percent cap rate on a seven-year sale-leaseback.

Built in 2006, the two-story, single-tenant building features 4,000 square feet of office and two drive-in doors. The facility sits on 1.14 acres in south Tempe, off Kyrene Road, between Warner and Ray roads and is close to Interstate 10.

For more information, contact Stein Koss, 602-912-3520,; Tom Louer, 602-954-3779,; or Ken McQueen, 602.474.9564,

Colliers International racks up two sales for $4.45M

Colliers International in Greater Phoenix has sold two Scottsdale of two office-warehouse buildings  for a total of $2.9 million. $2.9 Million Sale of 7327 E. Tierra Buena Lane in Scottsdale Colliers the $2.9 million sale of a 21,008-square-foot office/warehouse/flex building at 7327 E. Tierra Buena Lane in Scottsdale. The property was built in 1996. Henry Mohrschladt…


JLL Completes One of the Largest Industrial Leases This Year in Southwest Phoenix

On behalf of Clarion Partners, the Phoenix office of JLL has completed a 93,489-square-foot lease with Benson Industries, LLC at Durango Commerce Center in Phoenix. The deal represents one of the largest industrial lease transactions in Phoenix’s Southwest Valley submarket this year. It also brings the 670,000-square-foot, two-building Durango Corporate Center to 91 percent occupied and…