$5M+ Deals – $42.65M retail deal in Scottsdale and more

Below are the deals closed Friday, December 19, 2014, in Maricopa County over $5 million according to the Maricopa County Recorder. The Rose Law Group Reporter has not independently verified these transactions.

$42.65M sale of the approx. 150,000 SF Scottsdale Horizon Commercial Center at the southwest corner of N. Frank Lloyd Wright Boulevard and E. Raintree Drive (14700-14858 N. Frank Lloyd Wright Blvd.) in Scottsdale by CH Realty V Scottsdale LLC, an entity formed by Crow Holdings Capital in Dallas Texas.

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$24.2M ($121,000/unit) sale of the 200 unit Superstition Canyon apartment complex on E. Southern Avenue between S. Ellsworth and S. Crismon Roads (1247 S. 96th St.) in Mesa by Spanos Corporation, an entity formed by the AG Spanos Companies out of Stockton California. The complex, built in 2009, sits on 11.6 acres.

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$23.85M sale of the Chaparral Mobile Home Park at the southwest corner of S. Kyrene Road and the U.S. 60 (400 W. Baseline Rd.) in Tempe by Chaparral Mobile Home Park, LLC. The 45 acre site at a large intersection in Tempe seems to me like a great opportunity for redevelopment to a higher and better use, but the new owners could not be reached for more details. We’ll keep an eye out for where this site may be going.

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$7.39M+ sale of 35,149 SF of the Safeway anchored Canyon Trails shopping center on the northwest corner of N. Estrella Parkway and W. Van Buren Street (530 N. Estrella Pkwy and 15590 W. Van Buren St.) in Goodyear by Eisenberg Canyon Trails SPE LLC, an entity formed by Eisenberg Company in Phoenix.

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$7M sale of the 9.4 acre Paradise Valley Ranch mobile home park just north of E. Greenway Road on the west side of SR 51 (16005 N. 32nd St.) in Phoenix by Copper Kettle MHP LLC, an entity formed by Henry Keith II in Chandler and Daniel Williamson out of Canyon Country, California. This may have been a part of the Chaparral Mobile Home Park sale above, but the parties could not be reached for comment.

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$5.7M+ sale of 20.6 acres of undeveloped land on the perimeter of the Chandler Municipal Airport. The property has roughly 2,300 feet of frontage on the south side of E. Germann Road going west from the intersection with S. Cooper Road. Though it is bisected by a small piece owned by the City of Chandler, I would expect to see a rezoning application soon to change from the current AG-1 zoning to commercial or industrial.

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