Here are the 5 Biggest Commercial Real Estate Deals from May

Article originally posted on AZ Big Media on June 5, 2021

The Arizona commercial real estate industry is red-got right now, ranking among the best markets for multifamily sales in the nation. Those rankings are backed up by the biggest commercial real estate deals in Metro Phoenix, according to data collected by the commercial real estate tracking website Vizzda. Here are the five biggest commercial real estate deals in the multifamily, industrial, office, and retail sectors that closed in May.

Multifamily

1. The Retreat Apartments: $131,000,000

Location: 20808 N. 27th Ave., Phoenix

Buyer: MG Properties

Seller: LivCor

Brokers: CBRE, Institutional Property Advisors

2. Escape at Arrowhead Apartments: $103,750,000

Location: 7951 W. Beardsley Rd., Peoria

Buyer: Escape Two LLC

Seller: Embrey Development

3. Portrait at Hance Park: $99,500,000

Location: 1313 N. 2nd St., Phoenix

Buyer: Knightvest Capital

Seller: Transwestern

4. Broadstone Rio Salado: $96,150,000

Location: 2325 E. Rio Salado Pkwy., Tempe

Buyer: Decron Properties

Seller: Alliance Residential

5. Monte Verde Apartments: $96,000,000

Location: 3601 E. McDowell Rd., Phoenix

Buyer: TruAmerica Multifamily

Seller: Knightvest Capital

 

Industrial

1. 1715 W. Elliot Rd.: $43,100,000

Location: Gilbert

Buyer: Silver Creek Development

Seller: SunCap Property Group

2. 120 N. 83rd Ave.: $17,400,000

Location: Tolleson

Buyer: Cohen Asset Management

Seller: Eisenberg Company

Financing: Tim Storey, Gantry

3. 3455 S. McQueen Rd.: $14,236,950

Location: Chandler

Buyer: VIAVI Solutions Inc.

Seller: Ryan Companies US

4. 8123 S. Hardy Dr.: $7,800,000

Location: Tempe

Buyer: Kimball Investment Company

Seller: ViaWest Group

Broker: Cushman & Wakefield

5. 1845 E. Jefferson St.: $6,175,000

Location: Phoenix

Buyer: Dadson Laundry

Seller: Tony Sycks

 

Office

1. DriveTime Automotive Corporate Offices: $12,400,000

Location: 4020 E. Indian School Rd., Phoenix

Buyer: 4020 EAST INDIAN SCHOOL LLC

Seller: The Boyer Company

2. 10229 & 10301 N. 92nd St.: $10,500,000

Location: Scottsdale

Buyer:  Caliber Wealth Development

Seller: PCRES HOLDINGS

3. 5859 W. Talavi Blvd.: $10,000,000

Location: Glendale

Buyer: Remedy Medical

Seller: Phoenix Heart Realty

4. 26900 N. Lake Pleasant Pkwy.: $9,300,000

Location: Peoria

Buyer: CD Smith Construction

5. Stetson Canal Condominium Units 100, 105, 110, 205, & 210: $9,000,000

Location: Scottsdale

Buyer: Bright International Corp.

Seller: Christopher Vinger

 

Retail

1. Skyview (Tempe): $12,200,000

Location: 855 South Rural Road, Tempe

Buyer: American Campus Communities

Seller: Golub Real Estate Investments

2. San Tan Pavilions Lot 3B: $9,800,000

Location: 1877 E. Williams Field Rd., Gilbert

Buyer: Orosman Vizcaino

Seller: Remington Nevada

3. EOS Fitness: $9,628,000

Location: 1727 W. Ranch Rd., Tempe

Buyer: Mar Group

Seller: Barclay Group

Title agent: Thomas Title & Escrow

4. Fulton Ranch CVS: $9,044,000

Location: 4990 S. Arizona Ave., Chandler

Buyers: Daniel and Lisa Nguyen, Jeffrey Pieper, Gregory Richart

Seller: Kaneohe Ranch Co.

5. 10706 E. Point Twenty Two Blvd.: $8,965,000

Location: 10706 E. Point Twenty Two Blvd., Mesa

Buyer: Sreenivasulu Ramireddy

Seller: Evergreen Development Company

Broker: Newmark Knight Frank

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