November 22, 2024 8:08 am
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Rose Law Group

Commercial Real Estate News 6-30-15

Photo credit- Real Estate Daily News
Photo credit- Real Estate Daily News

ABEX

  1. Shoppes at Continental Ranch, LLC bought the Safeway anchored retail center for located at 9090-9160 N. Silverbell Road, Marana, for $5M. The sale was for 10KSF of existing inline shop space and 39KSF of potential expansion space on five outpads sold on 10 acres. The investor plans to expand the inline space by an additional 23.8KSF of space planned for completion in first quarter 2016. There is another 15.2KSF of potential space with the five pads.
  2. Maryland Gardens Investors LLC purchased the 103-unit Villa De La Paz Apartments, 6041 W. Thomas Road, Phoenix, for $4.9M ($47.5K/unit) from Superior Estates LLC. The eight-building apartment complex was constructed in 1983 and currently boasts 90 percent occupancy. Polachek and Jim Crews of Cushman & Wakefield successfully marketed the property for sale and represented the seller, Superior Estates. The buyer was represented by Tony Werstler of Solutions Real Estate.

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