-PHOENIX—An 8.56-acre commercial parcel at the SEC of Germann and Stearman Roads sold for $2,221,000. The fully-improved parcel is located within First Chandler Business Park and will be the future home of Crown Castle, a wireless infrastructure provider. Plans call for the construction of a 70,000 SF built-to-suit office building. LGE Design Build will be the developer. Lee & Associates Arizona principals Ken McQueen and Chris McClurg represented the land owner, Vintage Farms. The buyer MDB Chandler, LLC was represented by Colliers International. The sale marks the second land sale within First Chandler Business Park in the past month, both of which will have industrial developments under construction by year's end. This activity is complimented by an already under construction, 65,000 SF build-to-suit project at the park. Overall, the hot Chandler Airport area is seeing strong activity with new projects moving forward. A FedEx facility will be occupying a 48-acre site within the submarket. In total, there will be an additional 530,000 SF of various industrial product type added to the market in the coming year. There is also high demand for new office product with several new projects to be developed in the area.

-PHOENIX—Colliers International in Greater Phoenix has recently completed the sale of a class B office building in Phoenix for $950,000, or $79.40 a square foot. Phoenix-based John F. Long Properties LLP purchased the building, located at 1118 E. Missouri Ave., from Gillman, Kawecki, McCluskey and Windes Investment Partnership of Phoenix. Peter Nieman, an executive vice president, Kathy Foster, a senior vice president, and Marcus Muirhead, an associate vice president, all of Colliers International; served as the brokers for the seller. Thomas Jacobs of Cassidy Turley served as the broker for the buyer.The building, encompassing 11,964 square feet, was constructed in 1975.

-PHOENIX—Colliers International in Greater Phoenix recently completed a sale/leaseback transaction for Arrowhead Health Centers' location in Surprise for $1.9 million, or $309 per square foot. A buyer from Brooklynpurchased the property, 17061 N. Avenue of the Arts, suite 100, from Scottsdale Office Properties (formed by Arrowhead Health Centers). Marc Bonilla, vice president of Colliers International's Scottsdale office, served as the broker for the seller. Marcus & Millichap represented the buyer. The building was constructed in 2008.

-PHOENIX—Cassidy Turley announced the $2.1 million sale of SAARS Building, a class B office building at 4221 North Scottsdale Road in the Scottsdale Submarket. Phoenix-based 4221 Scottsdale LLC / TradeCor LLC purchased the property from Scottsdale-based Scottsdale Area Association of Realtors. Cassidy Turley managing director Mark Bramlett, executive managing director Eric Wichterman and senior vice president Mike Coover negotiated the transaction on behalf of the seller and buyer. Built in 1982, SAARS Building is a two-story, 8,500 square foot office building on .57 acres located in the heart of the Old Town Scottsdale entertainment district at Scottsdale Road and 4^th Avenue. The Scottsdale Area Association of Realtors occupied the building since 1982 and recently purchased a building at the Scottsdale Airpark for its new headquarters. No details have been disclosed for redevelopment at this time.

-PHOENIX—ORION Investment Real Estate announced the closing of a single-story office/warehouse building, located at 160 South MacDonald in Mesa, Arizona for $750,000 to Cardinal Capital Management, Inc. The buyer plans to redevelop the site into an apartment community and wanted to be close to the future light rail stations. The buyer will develop either supportive housing or market rate housing and is further assessing the market for the final direction of the development. The property was built in 1981 and sits on approximately 2.51 acres. The office/warehouse includes a grade-level overhead door for shipping and features a large enclosed yard for parking and storage. It is located a short walk from Main Street in downtown Mesa and the future light rail. Downtown Mesa offers numerous dining amenities, retailers, hotels, museums and the Mesa Arts Center. Nick Miner of ORION Investment Real Estate in Scottsdale negotiated the transaction.