<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2jFham_0vi2NjSX00" alt="https://img.particlenews.com/image.php?url=2jFham_0vi2NjSX00" width="768" height="434" ><figcaption>7. Escondido Apartments. Credit: ABI Multifamily</figcaption></figure>Sales Transactions<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4dI1cX_0vi2NjSX00" alt="https://img.particlenews.com/image.php?url=4dI1cX_0vi2NjSX00" width="290" height="688" ></figure>1. CBRE negotiated the sale of Vela on Camelback, a 237-unit multifamily community in the Camelback Corridor submarket of Phoenix. The seller, Pacific Development Partners, was represented by CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen. Sherman Residential acquired the community for $72.1M.2. Brown Group sold the 217-unit Build-to-Rent development Sanctuary on 51st for $61.4M. The Phoenix property, located at 7100 S. 51st Ave, was sold to Brunton Management. The seller was represented by Berkadia Phoenix’s Mark Forrester, Ric Holway, Dan Cheyne, Spencer Scott and Andrew Curtis.3. TruVista Development was the seller and developer of the 109-unit multifamily housing community Village of Chandler. Northmarq represented the seller in the $39.2M transaction. The buyer was not disclosed.4. The Reserve at Fox Creek, a 311-unit manufactured housing property in Bullhead City, was sold to Keith Management LLC for $38M. HARRI5 Manufactured Housing &amp; Commercial Brokerage negotiated the transaction and reported that it was a part of a 1031 exchange involving Golden Coach Mobile Estates.5. Marcus &amp; Millichap announced the sale and financing of the 120-unit Flagstaff apartment community Ponderosa Park. Buyer Bridge Partners acquired the property for $28.1M. Marcus &amp; Millichap’s Cliff David and Hamid Panahi represented the seller, Keller Investment Properties, and procured the buyer. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, Jake Vitta and Tyler Johnson secured acquisition financing.6. ABI Multifamily announced the sale of Thom Slate on Thomas Apartments for $16.5M. Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick facilitated the 130-unit Phoenix property sale. The buyer and seller were not disclosed.7. ABI Multifamily announced the sale of Escondido Apartments for $16M. The undisclosed buyer and seller were represented by Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick. The 75-unit multifamily apartment complex is located in Phoenix.8. Cushman &amp; Wakefield has advised the $13.55M sale of a two-building industrial project totaling 94.7KSF in Phoenix. Fully vacant, the asset consists of a pair of freestanding buildings located at 236 &amp; 240 North 48th Avenue on approximately 5.3 acres. The buyer was STOS Partners. The seller was Quantico Plastics Group Inc. Cushman &amp; Wakefield’s Phil Haenel, Will Strong, Foster Bundy and Katie Repine, in collaboration with Gary Anderson and Nik Vallens, represented both parties. Anderson and Vallens have also been retained by STOS to continue handling the project’s leasing efforts.9. CenterSquare Investment Management has acquired The Park at San Tan Retail Center in Chandler, a 20KSF shopping center, for $8.8M The seller was DPG Development.10. The Gateway Medical Center in Phoenix was purchased by Helix Properties for $7.2M. Starwood Property Trust was the seller of the 77.4KSF property, located at 690 N. Cofco Center Ct. The property is 35% leased between Gateway Surgery Center and Devi Holdings.11. Urbana @ Oro Valley LLC purchased Sunnyslope Apartments, a 41-unit apartment complex located at 150 E. Hardy Road in Tucson. The property was purchased from Sunnyslope Apartments LLC for $5.6M. Allan Mendelsberg and Joey Martinez with Cushman &amp; Wakefield | PICOR represented both parties.<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=1E5xgL_0vi2NjSX00" alt="https://img.particlenews.com/image.php?url=1E5xgL_0vi2NjSX00" width="298" height="269" ></figure>12. ABI Multifamily announced the $3M sale of Tolleson 9.78 Acres, a land plot located in Tolleson. John Klocek and Patrick Burch represented the seller. The buyer and seller were not disclosed.13. Cushman &amp; Wakefield announced it advised the sale of an industrial portfolio comprising two small-bay buildings totaling 80KSF in Phoenix’s Deer Valley submarket. The buildings are 100% leased to single tenants. The portfolio was acquired by Stonelake Capital Partners. C&amp;W’s Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the buyer and seller. DAUM‘s Trevor McKendry and Chris Rogers provided leasing advisory. The details of the transaction were undisclosed.Lease Transactions14. Coopers DIY, LLC leased 18.4KSF of industrial space at Park Avenue Industrial Center, 4700 S. Park Ave., Suites 1-5 in Tucson from Ohio Street Building No. 2 Ltd. LLLP. Robert Glaser with Cushman &amp; Wakefield | PICOR represented the landlord. Alex Demeroutis and Andrew Keim with Cushman &amp; Wakefield | PICORrepresented the tenant.15. Purvis Industries, LP leased 12.4KSF of industrial space at 3818 S. Evans Blvd., in Tucson from Sunstone Partners, LLC. Stephen D. Cohen and Briclyn Chase with Cushman &amp; Wakefield | PICOR, represented the landlord. Paul Hooker with Cushman &amp; Wakefield | PICORrepresented the tenant.</div></body>

Mountain View, CA

NewsBreak

Commercial Real Estate 09-24-24

1. CBRE negotiated the sale of Vela on Camelback, a 237-unit multifamily community in the Camelback Corridor submarket of Phoenix. The seller, Pacific Development Partners, was represented by CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen. Sherman Residential acquired the community for $72.1M. 2. Brown Group sold...