PHOENIX—In this edition of Deal-Tracker, Coastal Properties Corp. from Alberta, Canada has purchased Hidden Cove, a 150-unit multifamily property located at 2001 W. Union Hills Dr. in Phoenix, from Rosebud LLC of Beverly Hills. Brian Smuckler and Jeff Seaman with CBRE's Phoenix office represented the buyer and Bert Kempfert, also with CBRE, represented the seller in negotiating the $7.75 million transaction.
-Popeye's Louisiana Kitchen was represented by Darren Pitts, Michael Clark, Nick Ault, and Dave Cheatham of Velocity Retail in the acquisition of 2,565 square feet at the southwest corner of Central and Dunlap in Phoenix. The former KFC building was represented by Jason Fessinger of Strategic Retail Group, the landlord was an entity controlled by Lawrence Geyser & Associates. The site will be repurposed for the new Popeye's location, set to next this year.
-Judi Butterworth and Nick Ault of Velocity Retail represented the landlord at Peoria Sunnyside Plaza,located at the northwest corner of Olive Avenue and 51st Avenue in Glendale,in leasing 1,500 square feet to Cox Communications. The tenant was represented by Regan Amato of Phoenix Commercial Advisors. The new location will open the first quarter of 2015.
-Michael Clark and John Jackson of Velocity Retail Group leased 2,765 square feet at the northeast corner of Tangerine Road and Dove Mountain Boulevard in Marana. The tenant, Sunset Interiors was represented by Richard Speiser of KW Commercial, Southern Arizona.
-Velocity Retail Group's Andy Kroot represented tenant Krispy Kreme Doughnuts in the lease of 2,741 square feet at the southeast corner of I-10 and Dysart Road in Avondale. The new location is just one of many Krispy Kreme plans to open as they expand throughout the Valley. The landlord was represented by Jennifer Eggert of Zell Commercial RE Services.
-Michael Clark and John Jackson of Velocity represented the landlord of Park West at the northwest corner of Northern and Loop 101 in Peoria in a 6,500-square-foot lease to The Cabin Modern Whiskey Bar. The new restaurant is owned by Chris Tsailakis of My Big Fat Greek Restaurant, Whiskey Row Saloon, Caio 89, and several other popular Arizona restaurants. Tsailakis was represented by Chip Diamond of Diamond Properties in the transaction. The Cabin Modern Whisky Bar is slated for opening in the first quarter of 2015.
-Darren Pitts and Michael Clark of Velocity Retail Group represented Mattress Firm in the lease of 4,000 square feet at Deer Valley Towne Center, located at the southwest corner of I-17 and Loop 101 in Phoenix. The new location will open in the first quarter of 2015. The landlord was represented by Kalen Rickard of Strategic Retail Group.
-Velocity Retail's Larry Miller, John Jackson, and Michael Clark represented Bethany Towne Center at the northeast corner of Bethany Home and 35th Avenue in Glendale in the lease of 1,300 SF to Kelly D Nails and Spa. The salon joins a great tenant line-up at the shopping center, which includes a Walmart, YouFit Gym, and Harbor Freight Tools.
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