PHOENIX-A local investor has paid $2.6 million to acquire 75 units of the 92-unit Loma Bonita Apartments (aka Mountain View Manor). The seller consisted of 18 owners, the majority of which had taken title through foreclosure.
Loma Bonita, located at 1301 E. Mountain View Rd., was built in the mid-1980s and had been renovated for conversion in 2007. The units consist of two-bedroom, one-bath condominiums averaging approximately 800 square feet. The new owner is offering the units for sale as an entire package.
Natan Jacobs and Les Litwin with Vestis Group in Phoenix represented the sellers in the sale. Jim Hill with Real Living SJ Fowler Real Estate in Phoenix represented the buyer.
ACQUISITIONS/DISPOSITIONS
ARIZONA
Phoenix
- Chrisman Lock Chiang of La Habra, CA acquired an 88,774-square-foot, two-building industrial property at 43 N. 48th Ave. for $2.5 million. Seller Atkinson Land Holdings LLC of Mesa, AZ was represented by Jerry McCormick and Cooper Fratt of CBRE's Phoenix office. John Soldo and Leroy Breinholt of Commercial Properties Inc. in Phoenix represented the buyer in the $2.5-million transaction.
Scottsdale
- Holladay, UT-based SH Property LLC bought three units with the Mountain View Office Suites located at 9787 N. 91st St. Andrew Fosberg and Steve Fernandez of CBRE's Phoenix office represented the seller, Phaedrus LLC of Scottsdale, AZ. Bob Winegar and Lance Richards with Pierpont Equity Group in Phoenix represented the buyer in the $2.1 million transaction.
Tempe
- Beau E. Clover of Ruitland, ID purchased the 39-unit Atrium multifamily property at 1835 E. Don Carlos Ave. from Lenexa, KS-based seller Marshall Acquisitions & Holdings LLC. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented both parties in negotiating the $2.6 million sales transaction.
- The 4,169-square-foot Enclave at 1634 S. Priest Dr. sold for $695,000. Justin Horwitz and Nicole Ridberg with Sperry Van Ness represented the seller.
- Twelve Stone Capital Inc. paid $1.8 million to acquire the 30-unit Hayden Terrace Apartments at 1925 E. Hayden Lane. Sperry Van Ness' Danny Lee represented the buyer and seller Victor Conti in the transaction.
TEXAS
Houston
- Wyman-Gordon Forgings Inc. sold 30.7 acres in Telge Industrial Park on Cameron Road to Enerflex Energy Systems Inc. John F. Littman, B. Kelley Parker III, Coe Parker and Tim M. Thomas with Cushman and Wakefield of Texas Inc. represented the seller.
LEASING
ARIZONA
Gilbert
- Firehouse Subs leased 2,280 square fet at Santan Village, 2849 S. Santan Village Pkwy. Peter McQuaid, Greg Vanlerberghe and Erin Schrauth with Sperry Van Ness represented the tenant. Torrey Briegelm also with Sperry Van Ness, represented the landlord.
- Impac Mortgage leased 1,000 square feet at the Regus office building, 1166 W. Warner Rd. Justin Horwitz and Nicole Ridberg with Sperry Van Ness represented the tenant. The executive suites are represented by Regus.
Oro Valley
- ACTUS Biotechnology leased 1,793 square feet at 405 W. Cool Dr. Jeff Casper and David Montijo with CBRE's Tucson office represented the landlord, Tucson-based Louey Holdings LLC, in negotiating the lease terms. ACTUS, also of Tucson, was represented by Bob Davis and Tom Hunt with Rein & Grossoehme Commercial Real Estate's Tucson office.
Sun City
- Award Realty leased 5,361 square feet at the Courtyard at Sun City West, 13847 W. Meeker Rd. Sperry Van Ness' Justin Horwitz, Nicole Ridberg and Michael Franks represented the landlord. Bob Saling with Award Realty represented the tenant.
Tucson
- Charles B. Evans MD leased 2,550 square feet at 3395 N. Campbell Ave. David Montijo with CBRE's Tucson office represented the landlord, Sante Fe, NM-based H.P. Enterprises LP. The tenant was represented by Alan Laulanien with Coaction Group LLC in Phoenix.
TEXAS
Arlington
- Gronbach Food Systems renewed its 1,153-square-foot lease at Cordovan Park, 5840 W. Interstate 20. Darrel Higginbotham with SCM Real Estate Services represented the landlord in this transaction.
Austin
- Deco Window Fashions leased 1,780 square feet at Plaza 183, 13450 Research Blvd. Andrew Perkel of Retail Solutions represented the tenant, and Monica Moore of Live Oak-Gottesman represented the landlord.
- SRA International leased 1,760 square feet at Cannon West Shopping Center, 6800 Westgate Blvd. TJ Powell of Retail Solutions represented the landlord, and Jones Lang LaSalle represented the tenant.
Brownsville
- Crocs leased 3,100 square feet at Boca Chica Square, 2921 Boca Chica Blvd. Horacio Gallegos of Retail Solutions represented the landlord, and Susan Schulte of Schulte Real Estate Resources represented the tenant.
- The UPS Store leased 1,500 square feet at Strawberry Village, 2715 Boca Chica Blvd. Horacio Gallegos of Retail Solutions represented the landlord, and Jim Pappas of Jim Pappas Realty represented the tenant.
- Valley Dollar Mart leased 5,000 square feet at Southmost Retail, 2865-2905 Southmost Rd. Horacio Gallegos with Retail Solutions represented the landlord.
Carrollton
- Revolution Retail Systems leased 9,356 square feet at 1849 Hutton Dr. Matt Thompson and Phil Rosenfeld with Colliers International represented the tenant. Seth Koschak with Stream Realty represented the landlord, First Industrial Realty Trust.
Dallas
- Coram Healthcare Corporation of North Texas leased 9,764 square feet at Dallas Tech Center, 10105 Technology Blvd. Lee & Associates represented the tenant and Kevin Brookmole and Wade Smith with Colliers International represented the landlord, FSCP Dallas Portfolio 1 LLP.
Flower Mound
- Creative Wood Concepts Inc. sold a 25,000-square-foot building on five acres at 1000 Spinks Rd. Henry S. Miller Brokerage's Dan Spika represented the seller. Todd Weaver of Weaver Commercial Real Estate represented the buyer, Solinski Enterprises RE LP.
Grapevine
- River Rock Marketing Services LLC leased, 6,342 square feet at 1240 Texan Trail. Michael Morse with Avison Young represented the tenant. Matt Thompson and Phil Rosenfeld with Colliers International represented the landlord, Tarrant County Properties LLC.
Houston
- Jimenez Contract Services LLC leased 99,965 square feet at Silber Road Business Center II at 1246 Silber Rd. Jon Michael and Ed Bane of NAI Houston represented the landlord of the property in the lease transaction. Bob Berry and Jeff Venghaus of Jones Lang LaSalle represented the tenant.
Mission
- International Post Office leased 1,217 square feet at the Shoppes at the Grove, 4001 S. Shary. Joaquin Orozco of Retail Solutions represented the landlord, and Nemi Prado of Alexander Landman Realty represented the tenant.
San Antonio
- AZ Salon leased 1,040 square feet at Great Northwest Shopping Center, 8739 Grissom Rd. Tim McBrearty of Retail Solutions represented the landlord.
- Exceed Spa renewed its 620-square-foot space at Colonial Plaza, 2504 Nacogdoches Rd. Kay Lewis of Retail Solutions represented the landlord.
Sugar Land
- Professional Golf Ball Services Ltd. leased 60,750 square feet of warehouse/distribution space at 12505 Reed Rd. Jon Michael and Ed Bane of NAI Houston represented the landlord of the property in the lease transaction. Jarett Venghaus of Jones Lang LaSalle represented the tenant.
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