A Vancouver-based asset management company has purchased five industrial buildings in Phoenix, Arizona for US$11,375,000.
The 109,805 square-foot, five-storey Cabot Business Center is located on E University Dr. in Phoenix. The buyer, Nicola Crosby Real Estate, is a subsidiary of Nicola Wealth Management Ltd. The company acquires and manages properties for SPIRE US LP’s real estate portfolios.
Kidder Mathews real estate firm represented the vendor, Dunbar CBC, LLC.
"Cabot Business Center is an ideal asset for Nicola Crosby's first purchase in Phoenix," said Darren Tappen, Kidder Mathews broker. "The central location, freeway access, quality of the project, and occupancy level bodes well for the new ownership. They are looking for similar opportunities as they look to become a key player in the Phoenix market," he said.
The property is 96 per cent leased, located within minutes of downtown Phoenix and Arizona State University.
From | William Wright Commercial, Vancouver. William Wright agent Marianne DeCotiis reports:
DEAL | A 4,036-square-foot warehouse with a 7 per cent return on gross revenue. Kidson Road, Nanaimo. Price: $1 million.
From | Avison Young Commercial Real Estate, Vancouver. Avison Young agent Michael Buchan sold the following:
DEAL | Two fully-leased retail units totaling 4,000 square feet in the Kerrisdale neighbourhood. W 41st Avenue, Vancouver. Price: $7.81 million.
Avison Young agent Matt Thomas reports:
DEAL | Six-lot, single-family residential land assembly in North Vancouver’s Moodyville neighbourhood, with 59,675 square feet of potential buildable area. Lots are located along East 3rd Avenue and 245 Moody Avenue. Price: $11.2 million.
From | JLL Canada. JLL agent Samuel Dean report the following deals:
DEAL | A 60-suite, loft-inspired multi-family building with ground floor retail space, sold for approximately $258,333 per suite. Princess Street, Winnipeg. Price: $15.5 million.
DEAL | Waybury Park rental complex with 124 units, sold for $228,040 per suite. Tisbury Street, Sherwood Park, Alberta. Price: $28.3 million.
From | Lee & Associates, Vancouver. Lee & Associates agent Chris McIntyre brokered the following:
DEAL | Residential land assembly of 14 single-family lots with potential for multi-family development, totaling 2.37 acres. Properties located along Delestre Avenue, Loring Street and Sunset Avenue, Coquitlam. Price: $30 million.
From | NAI Commercial, Vancouver. NAI agent Rick Lui and Jesse Godin report the following:
DEAL | Three adjacent lots in East Vancouver, totaling 14 units of office or industrial space with redevelopment opportunity. Main Street, Vancouver. Price: $22 million.
NAI Commercial Okanagan agent Philip Hare reports:
DEAL | 26-suite Jubilee Motel sold for approximately $46,153 per unit. Skaha Lake Road, Penticton. Price: $1.2 million.
From | Frontline Real Estate Services Ltd., Langley. Frontline agent Todd Bohn reports:
DEAL | 11,350-square-foot industrial lot with three tenanted, freestanding buildings. Mercantile Way, Abbotsford. Price: $3.6 million.
From | Macdonald Commercial Real Estate Services Ltd., Vancouver. Macdonald agents Nick Goulet and Stuart Wright report:
DEAL | A zero-vacancy South Granville apartment building, Cedar Crest Manor, comprised of 10 suites, sold at $525,000 per unit. W 12th Avenue, Vancouver. Price: $5.25 million.
From | Engel & Volkers Vancouver Island. Engel & Volkers agent Jay Deleskie sold the following:
DEAL | Oceanfront resort over 7.25 acres, with 10 cabins, camping and RV sites. Pacific Rim Highway, Tofino. Price: $6.25 million.
From | CBRE Edmonton. CBRE agent Bradley Gingerich reports:
DEAL | Multi-family development site sold via judicial sale with proposed plans for a 112-unit complex. 105 Avenue, Edmonton. Price: $3.36 million.