November 22, 2024 1:44 pm
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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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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.