Sales Transactions
1. Bascom Arizona Ventures, LLC, an affiliate of The Bascom Group, LLC, acquired The Retreat at Speedway, a 304-unit multifamily community in Tucson, for $53.4M. The garden-style property, constructed in 2001, is located along Speedway Blvd. near the Catalina Foothills. Plans call for a value-add capital improvement program in the community. Institutional Property Advisors’ Steve Gebing, Cliff David, Hamid Panahi, and Clint Wadlund advised both the buyer and seller. Bryten Real Estate Partners will provide property management.
2. Cushman & Wakefield arranged the $23M sale of West 10 Business Center, a 146.7KSF industrial property at 4703 West Brill St. in southwest Phoenix. The I-10–adjacent facility was sold by Bixby Capital Management to Baron Properties. Cushman & Wakefield represented the seller and procured the buyer. The firm has also been retained as the exclusive leasing agent for the property…