PHOENIX—In this edition of Deal-Tracker, CBRE completes the sale of the Shops at Dynamite & Tatum, a retail strip center located at 28255 N Tatum Blvd, in Cave Creek. The asset sold for $1.9 million.
Steve Julius and Jesse Goldsmith with CBRE's Phoenix office negotiated the transaction on behalf the seller, Bainbridge Island, WA-based Pacific West Land. The buyer, Cave Creek Shoppers Mall, LLP, of Vancouver, was represented by Nathan Cardon of Cardon Commercial.
“The Shops at Tatum & Dynamite is a quality, well-leased and stable property,” says CBRE's Julius. “It should provide the buyer with steady cash flow over the years.”
Developed in 2006, Tatum & Dynamite Plaza is located just north of the Desert Ridge area. It is located along the border of Phoenix and Cave Creek with Scottsdale's border just to the east. The retail strip center totals 8,725 square feet and tenants include Goodwill Donation Xpress, Allstate Insurance, Pieh Tool Company, Summit Chiropractor, as well as a barber shop and a dentist.
PHOENIX—A four-acre industrial property with two buildings totaling 18,373 square feet at 12268 N. 92nd Dr. in Peoria sold for $2.1 million or $114.30 per square foot.
Matt Hobaica, principal with Lee & Associates brokered the transaction. The seller was One Cat Development Co., LLC of Peoria. The buyer was JAG Properties III, LLC of Shawnee, KS, dba Reddi Services. They will occupy the facility for their plumbing and HVAC operations.
The property features two industrial buildings; 14,100 square feet and 4,273 square feet. Both feature fire sprinklers, grade level doors, office space and are fullyfenced with two gates.
The property is located near the Loop 101 and Cactus Rd. and provides easy freeway access
PHOENIX—Marcus & Millichap announces the sale of Aaron's, a 7,000-square foot net-leased property located in Laveen, according to Don Morrow, regional manager of the firm's Phoenix office. The asset sold for $1.9 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.
Aaron's is located at 6175 South 35th Avenue in Laveen.
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