$5M+ Deals – $9.20/SF for 904,701 SF of retail on Camelback at 7th Ave

$9.9M ($44/SF) sale of the 224,960 SF Brookwood Commerce Center by 4425 West Olive LLC (Harpreet Kaur, manager) which sits on two parcels covering 14.75 ac at the SWC of W. Olive/Dunlap Ave and N. 43rd Ave (4425 W. Olive Ave) in Glendale.

The buyer was Brookwood URMTA LLC, an entity formed by United Realty MTA, a Phoenix based real estate investment firm specializing in strategic property acquisition and asset management. United purchased the property with a conventional loan and $2.97M down.

The center, which is zoned C-2 and was built in 1974, is home to Arizona College (formerly Arizona College of Allied Health).

For more information, click here.

View affidavit here.


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$8.909M+ ($31.25/SF) sale of 285,071 SF of office space at the Forum at Gilbert Ranch at the NWC of E. Williams Field Road and S. Val Vista Drive (1506 E. Williams Field Road) in Gilbert by FNBN Forum LLC, an entity that appears to have been formed by Sorenson Capital out of Sal Lake City, UT.

The buyer was Everwest Real Estate Partners out of Denver Colorado. Everwest is a privately held real investment and operating company with regional offices in Phoenix, Chicago, Irvine, San Jose, Boston and Morristown, NJ.

This portion of the project was built in 2007, but other portions are still building out and contain both office, retail, and restaurants.

View affidavit here

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$8.325M ($9.20/SF) sale of the 904,701 SF Camelback Village Square Retail Center at the NWC of W. Camelback Road and N. 7th Avenue (740-920 W. Camelback Road) in Phoenix by Wells Fargo Bank N.A. as Trustee.

The buyer was the Saia Family Limited Partnership based in Tempe which owns multiple properties in the valley. Saia purchased the property with a commercial loan and a $4.175M down payment.

The property covers 20.77 acres and appears to be currently mostly vacant but with an open and active Fry’s Food & Drug.

View affidavit here

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