Below are the deals that closed Wednesday, May 20, 2015, in Maricopa County over $5 million according to the Maricopa County Recorder. Rose Law Group Reporter has not independently verified these a transactions.
$38 million sale of the Papago Park Industrial Center south of the southwest corner of Washington and 56th streets (424 S. 56th Street) in Phoenix by State Farm Mutual Automobile Insurance.
Business Real Estate Weekly reported a company formed by JDM Partners LLC in Phoenix (Jerry Colangelo, David Eaton, Mel Shultz, principals) bought the property.
For more information on the transaction, click here.
To view the affidavit, click here.
$17.25 million sale of retail center Crossroads of Tempe east of the southeast corner of W. Elliot Road and S. Kyrene Road (325 W. Elliot Road) in Tempe by Crossroads of Tempe LLC an entity created by Phoenix-based ViaWest Group, a full-service real estate operating and investment company.
The buyer was Elm Real Estate Investments LLC an entity created by Los Angeles-based Held Properties Inc., a privately held, family-owned developer, owner and operator of office and medical office buildings.
The buyer put $6 million down on a conventional loan.
Crossroads of Tempe is a multi-tenant retail center on 9.3 acres, home to Massage Envy, UPS Store, and FedEx locations, as well as other businesses.
To view the affidavit, click here.
$6.75 million sale of an industrial park on the northwest corner of Thomas and Pima roads (8700 E. Thomas Road) in Scottsdale by Andreas Layher, Elisabeth Layher, Georg Layher and Philipp Layher.
The buyer was Pima Thomas Venture LLC, an entity that appears to have been created by Wentworth Property Company LLC, a Phoenix-based real estate firm.
The buyer paid cash in the transaction.
The 5.6-acre property, which is zoned I-1 for industrial and located off the full diamond Thomas Road exit of the Loop 101, was previously occupied by Microsemi, a semiconductor fabrication and manufacturing plant.
To view the affidavit, click here.
$5.85 million sale of vacant land in Mesa by DMB Mesa Proving Grounds LLC an entity of DMB Associates. The land appears to be property within the Eastmark development, a large-scale housing community in the East Valley.
The buyer was Ryland Homes of Arizona, who paid cash for the property.
The property is at least 90 acres, states the county assessor’s office.
An exact location was not available.
To view the affidavit, click here.
$5.4 million sale of 320 acres of agricultural land on the southwest corner of W. Dobbins and S. Harquahala Valley roads (9554 S. 515th Avenue) in Tonopah by Tres Points LLC.
The buyer was Keith Hark LLC.
To view affidavit, click here.
