Deal-Tracker: CBRE Negotiates Hidden Cove Sale

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.