The class B building was constructed in 2002 and is situated on 5.39 acres at the southwest corner of Cactus and North 75th Street.

“This sale brought multiple offers from several qualified and interested parties,” says Muirhead. “The buyer was selected because of a cash offer and opportunity for a quick closing.”

-PHOENIX—Marcus & Millichap announces the sale of Raising Cane's, a 3,033-square foot net-leased property located in Glendale, according to Don Morrow, regional manager of the firm's Phoenix office. The asset sold for $3.5 million.

Mark Ruble and Jamie Medress, investment specialists in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Raising Cane's is located at 7930 W. Bell Rd. in Glendale.

-PHOENIX—Helix recently acquired a new Scottsdale commercial property, Sonoran Corporate Center Building 6 for $1.57 million.

Located just off the 101 and Princess Drive, in Scottsdale, Sonoran Corporate Center includes a 10,154-square-foot building that is 100% occupied by Medical Practice Innovations Inc. The property was purchased from A Company of Brothers, LLP, a Washington limited liability partnership. The broker for the buyer was Mitchell Stravitz with CBRE.

“Although this asset is 100% leased, we still looked at this as a value add play,” says Ryan Spiekerman, founding principal of Helix Capital. “With rents significantly below market we feel we can create value once the lease expires or sell it to an owner/user. It is an optimal size in a highly desirable sub-market.”

-Phoenix—Daum Commercial Real Estate Services has negotiated the $1.28 million sale of a 16,000-square-foot industrial building located at 5640 S. 32nd St. in Phoenix.

Carl Johnson with Daum Phoenix represented the seller and the buyer in the user transaction.

The buyer, AMW Packaging of Phoenix is relocating and expanding operations from its 5,000-square-foot facility located just south at 4415 S. 32nd St. The seller of the free-standing industrial building was Voytech Five LLC of Phoenix.

-PHOENIX—A 27,800-square-foot industrial warehouse at 7425 S. Harl Ave. in Tempe at the I-10/Elliot Industrial Park sold for $1.7 million or $60.97 per SF. The building was 67% leased at time of sale. Lee & Associates principals Andy Ogan, Matt Fredrick and Matt McDougall represented both sides of this transaction. Ogan represented the seller, Nevada-based Hollywood Equities, Inc. Fredrick and McDougall represented the buyer, Phoenix-based Presson Corp. The 1985 GID-zoned masonry building features 18-foot clear height, grade level loading, 100% A/C and a compressed air system. The building sits on 2.34 acres near Elliot Rd and I-10 with quick access to Sky Harbor International Airport and other transportation corridors.

-PHOENIX—Colliers International in Greater Phoenix recently completed the sale of a 23,000-square-foot, class A office building in Scottsdale for $2.87 million, or $126 a square foot.

The buyer, Desert Palm Management Group of Phoenix, purchased the building, located at 15000 N. Hayden Rd., from LC Coffey of Lincoln, NE.

Colliers International executive vice president Greg Hopley represented both parties.

“This is an investment purchase for Desert Palm Management Group, which will have a long-term hold on the building,” says Hopley.

The freestanding building on Hayden Road was constructed in 1993 on 1.55 acres of commercial/industrial land. Terri's Consign & Design is the anchor tenant now.

“This is great investment opportunity and an excellent location in the Scottsdale Airpark, positioned at the northwest corner of Hayden Road and Raintree Drive with easy access to the 101 outer loop freeway,” Hopley says.

Earlier this year, Hopley represented Desert Palm Management Group when it acquired a 93,500-square-foot, $6.39 million industrial building at the Chandler Corporate Center.