The Metro Phoenix commercial real estate market remained vibrant in 2021 for LevRose CRE professionals, whose top 5 sales deals alone fetched more than $69 million.
“We were not only excited to see a diverse mix of our top sales and leases (office, retail, industrial and land), but we were thrilled to have so many different teams at LevRose with such a strong 2021,” said LevRose Managing Director Mike Baumgardner.
“This mirrors the incredible transaction volume last year in the Valley’s commercial real estate market,” added Jon Rosenberg, Co-Founder/Managing Partner at LevRose. “It is further proof that investors are active, local businesses are growing and new companies are planting their flag in Metro Phoenix.”
A look at top LevRose deals of 2021
Landon McKernan and Marty Maier facilitated the $24 million sale of a multi-building portfolio at 6111, 6121, 6131, and 6215 W. Van Buren St., in Phoenix. The buyer was Nicola Wealth Real Estate Acquisitions Ltd.
The project totals 161,800 SF and features clean distribution facilities with ample parking and proximity to the Valley’s major freeways.
Keri Davies, Jason Reddington, and Jon Rosenberg represented the buyer in the $15.9 million purchase of 14301 N. 87th St., in Scottsdale. The highly-visible, 76,565 SF, multi-tenant office building is located on the SW corner of Raintree and Loop 101 in North Scottsdale. The buyer was SPB Property, LLC; the seller was Double Anchor Investments, LLC.
Michael Waxman, Aaron Norwood, and Foster Bundy represented the tenant, Bay Logistics, in the long-term lease for 76,189 SF at 291 E. Buckeye Road, in Phoenix. The tenant, a distribution and logistics company, was in need of high-quality commercial refrigeration space.
The property was recently renovated to include an Alta Refrigeration System, which allows for multiple temperature ranges. The building is part of a larger industrial park including 4 other buildings.
Anna Sepic and Gunnar Sinnett represented the out-of-state buyer in the $11.7 million off-market acquisition of 701 N. Central Ave., in Downtown Phoenix, currently a parking lot. The property totals .93 acres (40,508 SF) of DTC-GTWY zoned land. The buyer was 701 N. Central Owner, LLC; the seller was Central Fillmore Dev 1, LLC.
Michael Waxman and Foster Bundy represented the seller, WYAZ Investments, LLC in the $8.86 million sale of Cooper Crossing, 1800-1850 E. Ray Road in Chandler, Arizona. The buyer was 1800 E. Ray Expansive LLC.
Built in 2006, Cooper Crossing is a two-story office property totaling 54,639 SF. Amenities include a conferencing facility, fitness center, and outdoor seating in a courtyard. The asset is located in the much sought-after Southeast Valley submarket.
Flex/hangar building and land
The Kottler/Cosgrove team (Zak Kottler, Joe Cosgrove, Hunter Chasse, and Aaron Cook) represented the seller, Chaplin Family Enterprises, in the $8.775 million disposition of a Scottsdale Airpark portfolio comprised of a ±40,589 SF flex/hangar building plus an adjacent ±1.89 acres (±82,123 SF) of vacant land.
The property at 7428 and 7429 E. Karen Drive in Scottsdale is situated in the heart of the amenity-rich Scottsdale Airpark and is one the largest sites sitting on the Scottsdale Airport Taxiway.
The existing building at 7428 E. Karen Drive previously served for many years as the corporate headquarters for Hi-Health, which has since fully vacated the property. The new owner intends to renovate and occupy the existing building while developing the vacant land at a later time.