PHOENIX—Cassidy Turley, announces the sale of 6.125 acres of land near the southwest corner of Stearman Drive and Germann Road in Chandler, AZ.

Newport Beach-based Turner Development, dba Turner Real Estate Investments, purchased the property from Los Angeles-based owner Investment 9901, LLC. Cassidy Turley senior managing directors Paul Boyle and Rick Danis and senior vice president Pete Klees negotiated the transaction on behalf of the seller and the buyer.

Turner has proposed plans for six single tenant industrial buildings ranging in size from 12,000 square feet to 24,000 square feet, Each building will feature speculative office build outs, outside fenced storage yards and grade level loading. Four of the six buildings will also have truckwell loading. The entire development will total 98,600 square feet. Anticipated completion date is projected to be second quarter of 2015.

PHOENIX—Pathfinder Partners, LLC, a San Diego-based firm specializing in opportunistic real estate investments, has closed the $1.9 million sale of Shorewood Apartments, a 21-unit community located in the midtown neighborhood of Phoenix, just north of downtown. The property was acquired by Washington-based Atrium Apartments, LLC.

According to Lorne Polger, senior managing director of Pathfinder, his firm and partner Ryan Hartman of Phoenix-based Avenue North, purchased Shorewood in February 2012 in a receivership sale and subsequently embarked on a $500,000 capital improvement program to enhance the property's mid-century appeal.

Built in 1960, Shorewood includes seven one-bedroom, one-bath units and 14 two-bedroom, two-bath units. Following the acquisition, Pathfinder implemented extensive renovations – overhauling the landscaping, refinishing and expanding the pool area, replacing the roof and all air conditioning units and repainting the property. Interior upgrades include installing new hardwood-style, sheet vinyl flooring, updating finishes and fixtures and adding new appliances and glass-tile kitchen backsplashes. Shorewood was 100 percent occupied at the time of the sale.

The Phoenix-based CBRE multifamily team, led by Brian Smuckler and Jeff Seaman, brokered the transaction.

PHOENIX—Nine office condos at Riverside Office Plaza II totaling 29,223 square feet in the Tempe/Airport Submarket were sold. Phoenix-based investor Attis Investments, LLC purchased the nine condos for $2.805 million ($95.98/psf) from San Diego-based Southwest Value Partners.

Executive managing director Jeff Wentworth and vice president Sean Spellman with Cassidy Turley negotiated the transaction on behalf of the seller, while Mark Gustin of JLL represented the buyer.

Attis Investments is a commercial real estate investment company focused primarily on office and industrial properties in the Phoenix area. It plans to lease and build out the vacant office condos.

Built in 2007 at 1215 and 1255 West Rio Salado Parkway, Riverside Office Plaza II is a two building, two story development with 27 office condos totaling 75,500 square feet. The Riverside Office Plaza development is neighbors with the Tempe Center for the Arts and overlooks the scenic Rio Salado area and Tempe Town Lake. The property is located east of the southeast corner of Priest Drive and Rio Salado Parkway with access to the freeways, one mile from the Mill Avenue shops and restaurants and two miles from Sky Harbor International Airport. The project is currently 100% sold out.

PHOENIX—Colliers International in Greater Phoenix recently completed a $500,000 office sale in Show Low, Ariz., and an $885,000 land sale in Chandler.

White Mountain Publishing, LLC of Casa Grande purchased the class C multi-tenant office building, 3191 S. White Mountain Road in Show Low, from the Lucero Group, Inc. of Scottsdale. Currently occupying almost half of the building, White Mountain Publishing purchased the property as an investment.

Kim Soule', vice president of Colliers International, represented the buyer and seller.

In the Chandler land deal, Bell Steel, Inc., of Gilbert purchased 9.14 acres to build a new facility. Building Materials Holding Corporation of Boise, Idaho, sold the land, located east of Arizona Avenue on Riggs Road.

Soule' and Marcus Muirhead, associate vice president of Colliers International, represented the seller. Steve Larsen and Bill Honsaker of JLL represented the buyer.

PHOENIX—Colliers International in Greater Phoenix recently completed the sale of two class B office buildings in Scottsdale for a combined total of $8.73 million.

Fenway Asset Acquisitions LLC of San Diego purchased both buildings, called North Alamos Court I & II.

NAC-I, a general partnership of Phoenix, sold North Alamos Court I, located at 5010 E. Shea in Scottsdale, for $4.5 million.

5040 Shea Holdings, Inc. of Logan, Utah, sold North Alamos Court II, located at 5020 and 5040 E. Shea in Scottsdale, for $4.23 million.

Kim Soule', vice president of Colliers International, represented the buyer and sellers in both transactions.

Built in 1984, North Alamos Court I is 43,182 square feet, located on 3.27 acres. North Alamos Court II, built in 1985 and renovated in 2000, is 52,813 square feet, located on 3.12 acres.

Fenway Asset Acquisitions plans to change the name of the business campus to Paradise Valley Plaza.