Lee & Associates Arizona

A 49-unit multifamily complex at 4021-4025 N. 40th St., Phoenix, sold for $3,200,000 or $65,306 per door. The new owners of the Tidewood Apartments plan to modernize the 51-year-old property.

The Fincham Dempsey Team at Lee & Associates is pleased announce the sale of the Sonora Village retail shopping center for $72,500,000. The property is located at the SWC of Frank Lloyd Wright Blvd.and Loop 101 in North Scottsdale.

Lee & Associates Arizona is pleased to announce the hiring of Sean M. Bishop, CCIM as Principal. Sean brings extensive experience in retail investment and tenant and landlord representation.

The former RoomStore furniture store at 15826 N. Scottsdale Rd., Scottsdale sold for $8,250,000 or $263.00 per SF. The company filed bankruptcy in December 2015 and closed all Arizona stores, including this location.

Lee & Associates brokers have negotiated a seven year-plus industrial lease for 28,378 SF at 101 Scottsdale North at 16648 N. 94th St., Scottsdale.

The Cal-Eaton Industrial Park at the SEC of Smith Rd. & E. 5th St. in Tempe, sold for $8,950,000 or $84.00 per SF. The transaction closed on June 30 and was 99% occupied at the time of sale.

The 23,923 SF Motorsports of Scottsdale building at 8053 E. Raintree Dr., Scottsdale sold for $5,850,000 or $244.53 per SF. The transaction closed on June 10.

North Canyon Ranch, a 70,428 SF, Goodwill-anchored, retail plaza at 3830 W. Pinnacle Peak Rd., Glendale sold for $8,700,000. Price per foot was calculated at $123.00.

Lee & Associates is proud to announce that Andrew Cheney, Principal, has been recently awarded The Counselors of Real Estate (CRE) designation.

The Southeast Regional Association of REALTORS@ (SEVRAR), the largest realty association in Arizona, has purchased a new 3.1 acre site for their office headquarters at Chandler Airport Center in Chandler. The parcel sold for $1,152,290 or $8.50 per SF.