PHOENIX—In this edition of Deal-Tracker, Westcore Properties has sold its 28,080-square-foot Broadway Business Park property in Tempe to Accurate Chemical & Services for $1.5 million. The sale enables Accurate Chemical & Services to expand their operations in the Tempe Industrial Corridor.
Located at 731 W. Fairmont Dr., minutes from the I-10 Freeway, the single-tenant, industrial property was acquired by Westcore Properties in 2011. Accurate Chemical & Services, a Tempe-based company that provides sanitation supplies to the restaurant and hospitality industry, will expand its operations by 12,500 square feet when it moves into its new warehouse space in early 2015. Additionally, Accurate Chemical & Services looks to grow their staff by 25%.
“We felt that the timing was right to sell this property and recapitalize our investment,” says Marc Brutten, founder and chairman of Westcore Properties. “We identified a strong business that will provide job growth and have a strong economic impact on the region, and we're glad to make this deal work.”
Dan Colton with Colton Commercial represented Accurate Chemical & Services in this acquisition. Westcore Properties was represented by Pete Klees with Cassidy Turley.
PHOENIX—Asset Preservation, Inc. from Los Angeles, California has purchased Desert Green Apartments, a 16-unit multi-family property located at 16243-16401 N. 31st St. in Phoenix, from Dramms, LLC of Poway, CA. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented both the buyer and the seller in negotiating the $700,000 transaction.
PHOENIX—Leger Properties III, LLC from Eugene, OR has purchased Glenview Estates apartment complex, a 32-unit multi-family property located at 7002 N. 76th Ave. in Glendale, from George Loriente and Suzanne Loriente of Harbor City, CA. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented the seller in negotiating the $1.9 million transaction.
PHOENIX—29SC Brittany, LLC., from Chicago has purchased The Brittany apartment complex, a 92-unit multifamily property located at 708 N. Country Club in Mesa from Pristine Estates, LLC of Tumon, Guam. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented both the buyer and seller in negotiating the $3,189,680 transaction.
PHOENIX—David Eitches and Sammy Aflalo from Beverly Hills have purchased the Villa Schiliro apartment complex, a 21-unit multi-family property located at 3029 E. Paradise Lane in Phoenix, from Stepan S. Bebekian and Chake S. Bebekian Family Trust of Phoenix. Brian Smuckler and Jeff Seaman of CBRE's Phoenix office represented both the buyer and the seller in negotiating the $646,000 transaction.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
