Hensley & Co. sold its three refrigerated warehouse and distribution facilities at 4201 N. 45th Ave. in Phoenix, 2555 N. Nevada St. in Chandler, and 10201 E. Valley Road in Prescott Valley to the net lease division of Angelo, Gordon & Co. of New York for $76 million. Thefacilities were immediately leased back to Hensley & Co.
Chris Toci, Chad Littell and Jim Wilson of Cushman & Wakefield in Phoenix negotiated the disposition and long-term leaseback transaction of the properties, totaling 577,167 square feet. Hensley & Co. is the fourth-largest distributor of Anheuser-Busch products in the nation.
Major deals
Gateway Tempe LLC, an entity of Vulcan Inc. of Seattle, sold Tempe Gateway Office Tower at 222 S. Mill Ave. in Tempe to Parkway Properties Inc. of Orlando, Fla. for $66.1 million. Jim Fijan of CBRE in Phoenix represented the buyer. The seller of this eight-story Class A multitenant office building was self-represented. Opus West Corp. developed the 263,936-square-foot office building in 2009, but lost it to foreclosure in shell condition later that year to Vulcan. The property occupancy is currently at 74 percent.
Park Shadows Country Homes of Scottsdale sold Greenwood Apartments at 1322 N. La Jolla Blvd. in Goodyear to Neil Sechan and Mathew Messner of Ashland, Ore. for $3.4 million. Brian Smuckler and Jeff Seaman of CBRE in Phoenix represented the seller. The buyers were self-represented in the purchase of this 69-unit multifamily property.
C-III Asset Management sold a 29,000-square-foot retail building at 8698 E. Raintree in Scottsdale to NHD Equity Partners LLC for $3.2 million. Barbara Lloyd, Brad Ranly, Lane Neville and Hunter Null of NAI Horizon represented the seller. The buyer was self-represented.
Promotions and hires
Erich Reichenberger has been promoted to area manager of Pioneer Title Agency in Sierra Vista. He has more than 15 years of experience in the title industry and has been with firm since March 2007.
Jeannie Olsen joined Orange Sky Realty as a Realtor specializing in sales of Shea spec homes and traditional properties in the Arizona marketplace.
Megan Watkins, senior property manager at the Desert West Region office of Lincoln Property Co. in Phoenix, has been elected to the board of directors of the Building Owners and Managers Association of Greater Phoenix. She manages Lincoln Property Company’s Paradise Village Office Park, a five-story, multitenant office building in Phoenix. Amr Ceran joined the Desert West Region office as vice president. He has more than 13 years of commercial real estate experience in Arizona in acquisitions, leasing and asset management. Most recently, he was asset manager at Voit Real Estate Services. Ceran received his political science degree from Arizona State University, and is a licensed Realtor in the state.
Clear Title Agency of Arizona in Phoenix added four professionals to its residential team: Nicollette Baker and Camille Sitto joined as business development officers and Mary McGovern and Kathleen Veglia as senior escrow officers. Baker will cultivate and maintain relationships with real-estate agents, mortgage brokers/bankers, builders and developers. Previously, she was senior account manager at The Talon Group. Sitto will develop new relationships with realtors and loan officers through marketing support and providing escrow service to existing clients. Previously, she was an assistant escrow officer at The Talon Group. McGovern will work with escrow officers and assistants, business development managers and the executive team and handle refinances, sales, REOs, short sales and homes in foreclosure. She previously was assistant branch manager/senior escrow officer at Title365 Co. Veglia previously was an escrow officer at Fidelity National Title.
Larry Miller Jr. and James Edwards joined the landlord advisory services practice group as senior associates at Velocity Retail Group in Phoenix. Miller has more than 10 years of commercial real estate experience. Edwards has more than six years of experience in the Phoenix area, completing transactions for both tenants and landlords on retail shopping centers of all sizes.
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